Cash Back Card information Blog

The Discover Platinum Clear Card is issued by Morgan Stanley and is intended for those who have very good credit who are looking for a cash reward credit card.

The rewards program on this card earns cardholders a 5% rebate on purchases made at participating merchants, up to 1% for general purchases, and .25% for purchases that are made at participating warehouse clubs and discount stores. The rebates for general purchases are based on the amount with those spending $1,500 receiving a .25% rebate, between $1,500 and $3,000 will receive a .5% rebate, and those who spend over $3,000 will receive a 1% rebate. In addition, cardholders can earn a double cash back bonus for redeeming their rebates for gift certificates from participating Discover Card partners. There is no limit on the amount of rebates that can be earned in a year, nor do they expire as long as the account is active within a three-year period.

The card has no annual fee and offers a 0% introductory rate for purchases and balance transfers for twelve months. Following the introductory period, purchases will be assessed finance charges of 10.99% variable based on Prime Rate, and cash advances will be 20.99% fixed rate. On the down side, finance charges are calculated on a two cycle average daily balance method instead of the customary single cycle average daily balance charged by most card issuers. A 3% cash advance fee is charged with a minimum of $5, and a 3% balance transfer fee is assessed with a minimum of $5 and a maximum of $50.

The cardholders who will gain the most benefit from the Discover Platinum Credit card are those who plan to spend at least $3,000 annually in order to earn the 1% rebate, use their Cashback Bonus award at participating stores in order to earn a double cashback bonus, and pay in full each month after the introductory period to avoid finance charges.

Some of the other benefits that the cardholder can receive from the use of this card include the following:

• Different card designs

• Online access to account information

• Emergency replacement of cards

• Protection against fraud

• Insurance for auto rental

• Travel accident insurance up to $500,000

The Discover Platinum American Flag Card may be a card you are more than just proud to carry with you. This credit card is given to individuals that have very good credit and are looking for a reward program that allows for cash back benefits. If you are interested in cash back, consider what it can do for you. The Discover card is issued by Morgan Stanley.

The Discover Platinum American Flag Card will provide you with excellent benefits in interest rates even before you get to the need for rewards. You will have 12 months time in which you have a 0% introductory offer on your purchases and balance transfers made within that time period. You will need to consider specific details of this offer. When it is over, you will have an APR at 10.99% variable for those purchases that you make and 20.99% on cash advances that you make (fixed.) Although there is no annual fee to this credit card, you do have the two cycles average daily balance method of calculations which can make it a bit more expensive in the long run if you do carry a balance.

The Rewards are a plus, though for the Discover Platinum American Flag Card. You will earn from .25% to 5% in rebates. To get the full 5%, use the card at participating retailers that work through the Cashback Bonus program. You earn just .25% at warehouses and discount stores. You can get double CashBack Bonus when you use the card at participating departments of Discover. You can redeem your rebates in $20 increments and there is no expiration date. The amount you get back depends on the amount that you spend.

The Discover Platinum American Flag Card provides for a good amount of reward in the form of cash back. You will appreciate the lower fees and the very good APR on this credit card. In addition, you are sure to find benefits in the double bonus rewards.

Cash back credit cards: do they really work? The simple answer is yes; the longer answer is that in order to make the most of them, you’ll have to pay attention to the details. If you can stay on top of your credit card payments, and use the card wisely, you will definitely benefit from a cash back credit card. The key is to look at the fine print. Here are some tips to help you get a good amount of cash back.

Check the Percentage Rates

When cash back cards first began, banks usually offered customers 1 percent back from the amount they spent. So if you spent $500, it seemed like you could expect to get $5 back. Many cardholders did not realize, however, that the full 1 percent usually did not start until a certain amount had been spent on the card. Many of these cards worked on a tiered basis, meaning that you would not actually receive the entire 1 percent cash back until you had piled a few thousand dollars on to the card.

Fast forward to today, and you’ll still find that many credit cards operate on this system. If you read through the fine print, you can find out the limits involved before applying. You can also check for special deals. Some cards will give you 5 percent cash back every time you use the card at the grocery store, or for gas, or for online shopping. So make sure you know what you really will be getting back in cash before you sign up.

Look for Fees

Many cash back credit cards do not come with an annual fee. Even so, you’ll want to check to see if there are any extra fees involved. Some of these cards come with a higher interest rate than most cards. If this is the case, check to see if you’ll be paying off the balance each month. If you can pay off the balance each month, you’ll greatly benefit from the card. If you can’t, you might want to look for a low interest card instead.

Set up a System

Using a cash back credit card works best when you keep track of your purchases, make sure you get the highest percent of cash back possible, and pay off the balance each month. To add one more step to your benefit plan, think about what you want to spend your rewards on. Check each month to see how much money you have accumulated, and plan what you will use those rewards for. Then when you receive a rebate check, you’ll know right where to put it.

For those that can carefully manage a credit card, the cash back system is a great find. It gives you all of the benefits of a regular card, and lets you get a little cash back at the same time. So if you apply for one, think about using the card, and the rewards that come from it, as best as you can. You’ll find that the deal with cash back credit cards is really in the details.