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Discover Escape Credit Card 2011

Discover Escape Credit Card

Discover maintains its top spot in customer satisfaction. It’s been that way for fifteen years, and now, according to the 2011 Brands Keys Customer Loyalty Engagement Index Report, it looks as though it’s just hit the sixteen year mark. One thing’s for sure: the perks and benefits are the primary reason, along with the excellent customer support, that keeps the Discover star shining brightly. This week, we take a look at the Discover Escape card.

The Benefits

For this offering, it’s all about the perks. Your first six months are interest fee and that includes balance transfers, which makes this a fine opportunity transferring your high interest rate balances on other cards to your Discover Escape. Once the intro period has passed, your APR (as of the date of publication) will fall somewhere between 11.99% and 16.99%, which is quite competitive in the current market. Your credit history, of course, will determine what your APR is, which is another great reason to check your credit scores before applying for any new credit card.

Like to travel? You’ll enjoy the opportunity to earn up to $250 in travel rewards or 1,000 bonus miles every month you use your Discover to make a purchase. It’s only applicable for the first twenty five months after opening your account, so be sure to take advantage of this opportunity. Also, you’ll enjoy two miles for every dollar you spend on purchases and they can be converted easily into cash, travel or even gift cards. Shop through the Discover online shopping mall and you’ll receive two additional miles for each dollar spent (great timing since the holidays are upon us). There’s no need to worry which airline or hotel chain will accept your rewards points since there are no restrictions on where you book. No limits and no expiration dates round out your rewards program.

While many rewards credit cards will require excellent credit, this particular Discover offer will accept good credit as well; again, though, it’s important to know what your credit history looks like before applying for any kind of credit.

Card holders also enjoy zero fraud liability, lost luggage insurance, auto rental insurance and even travel delay insurance. Pay your bills online quickly and easily; and if your due date comes and goes without a payment, Discover sends an email reminding you of the potential for late fees (which is a real convenience when life gets in the way).

Other Need to Know Info

The benefits are many, but there are the fees and other considerations, too. There is an annual fee associated with the Discover Escape card, which is $60.00. Miss a payment date or go over your credit limit and you will see a $39 fee tacked on each time that happens. Also, if you pull a cash advance from your Discover, the APR on that is 23.99% and the cash advance fee is calculated at 3% (at the time of this writing). Carefully review the terms and conditions so that you know ahead of time what you’re getting. Also, and as mentioned, the credit required at the time of this writing is “good”, compared to comparable offers that require “excellent” ratings.

The gift cards are a great bonus, but it can take several weeks to receive them if that’s what you use your rewards points for, so keep that in mind if you’re planning for your nephew’s birthday or are hoping to take advantage of it for employee bonuses.

Other Offers

Even if you’re happy with Discover and want to show a bit of loyalty, the Escape card is a great choice for many; that said, there are many Discover offers. If you’re looking for a longer time period for intro 0% APR offers or if you’re interested in cash back programs, be sure to explore the entire Discover family of credit card offers. There’s sure to be one that meets all of your financial needs. Discover offers small business credit cards, gas rewards cards and other universal offerings.

Don’t forget the importance of carefully reading any terms and conditions associated with any credit card offer. Not doing so can find you dissatisfied with your credit card choice, which completely defeats your purpose.

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