While paying bills on time has its intrinsic rewards, Discover is offering more tangible motivation to its card holders who carry a balance: Cash. The Discover Motiva Card gives card holders a couple of different options for earning cash back rewards, including 5 percent back on interest charges simply for not being late.
As an incentive to pay at least the minimum amount on time each month, Discover Motiva offers a 5-percent cash-back reward on the interest charged that month. As long as payments are received on time, are for at least the minimum amount due and are not returned as unpayable, a 5-percent Pay-on-Time bonus will be applied to statements. The interest charges apply to current balances including any purchases, balance transfers and cash advances, and the bonus will show up on the following month's statement.
The card also pays up to a 1-percent cash-back reward on all purchases, plus the additional cash-back rewards given to all Discover credit cardholders for shopping online through the Discover website.
The Discover Motiva card has an introductory offer of zero-percent APR on purchases and balance transfers for the first 15 months. After the introductory period, the interest rates for the card are based on creditworthiness, and currently run from 10.99 percent to 19.99 percent. Until June of next year, the Motiva card also offers a 3 percent introductory balance transfer fee. After June 10, the balance transfer fee is 5 percent or a minimum of $10. Cash advances carry a whopping 23.99 percent APR.