The Discover® Open Road Card is a credit card that is designed for those with a very good credit history. Issued by Morgan Stanley, this platinum credit card also offers a rewards program in the form of cash rebates on purchases. Cardholders can earn up to two percent cash rebate on every purchase, but the rebate is dependant upon the balance of the card and upon where the purchase is made. The minimum rebate is 0.25 percent. Higher rebates can be earned on gas purchases with this credit card, and these can vary from between one and five percent depending on the amount spent. There is a limit of $25,000 on gas purchasing rebates, but no limit on general purchase rebates. Because rebates can be doubled at participating retailers, cardholders have the opportunity to earn up to ten percent in rebates on gas.
Cardholders can enjoy a twenty-five day grace period with this credit card, and there is no annual fee charged on this card. For late repayments, fees of between $15 and $39 are applied, with the actual fee dependant upon the balance of the card. There are also fees of between $15 and $35 charged on cards that exceed the credit limit. Balance transfers and cash advances are charged at the greater of either three percent or five dollars, and there is maximum charge of $50 on each balance transfer transaction.
There are a number of additional benefits included with this credit card, and this is in addition to the rewards rebate program. Some of the benefits cardholders can enjoy include: Internet account services, travel accident insurance, fraud and security protection services, a choice of designs for their credit card, and a free credit card for their key ring known as the ‘2GO' card.
This card has a minimum credit line of $5000, and cards are available for additional cardholders at no extra cost. Cardholders can enjoy an ten month introductory interest rate of 0% on balance transfers and new purchases. After this, the interest rate can vary depending on your credit history, and applicants are advised to review the terms and conditions of the card at the time of application.
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