A Comparision of the Discover Cash Back Cards

28 Jun 2011 | by Porfirio Hillman | No Comments »

Discover offers three popular cash back cards and each card allows members to earn a percentage back on their purchase. Today we are going to compare the Discover More Card, Discover Motiva Card and the Discover Open Road Card. Below we have highlight of each card and a table which will give you a side by side comparison. By comparing the benefits of each card you can determine which card will work best for you based on your spending habits.

The Discover More Card is a rewards card that offers cash back on all your purchases. You can earn up to 5% cash back in rotating categories. The card offers 0% on both balance transfers and purchases. There is no annual fee with this card. Here are the details of this offer:

  • 0% intro APR on balance transfers for 18 months, then the variable APR of 11.99% – 20.99%
  • 0% intro APR on purchases for 6 months, then the variable APR of 11.99% – 20.99%
  • 5% Cashback Bonus in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
  • Ranked #1 in customer loyalty
  • 24/7 access to a U.S.

Full Post…

Latest Data From Fannie Mae’s Housing Report

27 Jun 2011 | by Billy Miller | No Comments »

Fannie Mae is The Federal National Mortgage Association (FNMA). Fannie Mae operates in the U.S. secondary mortgage market and works with mortgage bankers, brokers and other primary mortgage market partners to help ensure they have funds to lend to home buyers at affordable rates.

Fannie has been conducting a survey called the “Fannie Mae National Housing Survey” for the following times: first quarter 2011, fourth quarter 2010, January 2010, June 2010 and December 2003.  The survey covers opinions on owning and renting a home, current household finances, view of U.S. finance system and confidence in the economy. The

Full Post…

Discover Personal Payments: Send Cash, Earn Rewards

27 Jun 2011 | by Porfirio Hillman | No Comments »

The personal payments space has been heating up lately, with Visa announcing its Personal Payments system, Amex rolling out its digital payment and commerce platform called Serve, and MasterCard also forming its plans for its own personal payments offering.

Not to be left behind, Discover has partnered with PayPal to establish its own payments system dubbed Discover Money Messenger. Discover Money Messenger allows Discover Card holders to send money to nearly anyone for free, and earn rewards on the money sent at the same time.

As the person sending the money, you do not need to have a PayPal account. The recipient of the funds, however, does need to have a PayPal account to claim the funds, though they need not be a Discover cardholder.

Sending money is free and the amount is charged to your Discover card account like a purchase that earns rewards.

Full Post…

Banks Announce Fee Waivers for Credit Card Donations to Japan Disaster Assistance

25 Jun 2011 | by Billy Miller | No Comments »

VISA and MasterCard, along with many major banks such as J. P. Morgan Chase, Wells Fargo, and Bank of America, have announced not only their own monetary contributions to Japan’s disaster relief, but also have decided to waive the interchange fees on donations to major charities assisting in the relief efforts.

Waiving the interchange fees will make a significant difference in the total amount of monies received by the charities as interchange fees are the largest percentage of the fees collected by credit card companies.

Some of the banks and credit card issuing companies have placed a time-limit on fee waivers. VISA will not charge fees on donations to Japan relief funds through April 30 and MasterCard through May 15.

MasterCard and VISA, along with several of the banks, have created lists of charities not being charged interchange fees for donations to the disaster relief funds. T

Full Post…