|
The Discover Open Road Card (formerly Discover Gas Card) was last reviewed on 20th December 2007
Summary - We recommend the Discover® Open Road Card because you can earn 5% rebates on both gasoline and auto maintenance purchases. You can purchase gasoline at any gasoline station. You can also double the value of your cash rebates by exchanging them for gift certificates of partner merchants. This card does have a tiered rebate formula that you should be aware of. Read further to find out more about this card.
Rebate for Gasoline and Auto Maintenance - The Discover Open Road Card allows you to earn 5% rebates for gasoline and auto maintenance purchase for up to $1,200 in annual spending. Once you exceed $1,200 in annual spending, you will earn similar rebates as your "other purchases".
Rebates on "other purchases" - Cash Back Bonus - For the fist $1,500 in annual spending, you earn 0.25% rebates. For the next $1,500 in annual spending, you earn 0.5% rebates. You earn 1% rebates for annual spending above $3,000. You can earn unlimited rebates which do not expire.
Double your Cash Rebates - One of the best features of Discover credit cards is that if you exchange your cash rebates for gift certificates of Cash Back Bonus merchant partners, you can up to double the value of your cash rebates. That means that a $20.00 cash rebate can turn into a $40.00 gift certificates. There are currently 60 partner merchants.
Fees and Rates - The Discover Open Road Card has no annual fee. The apr ranges from 10.99% to 18.99%%. The two-cycle average daily balance method (including new purchases) is used to calculate monthly balance. New cardholders get a 0% apr offer for balance transfers for 12 months and 6 months for purchases.
Verdict - This card is not without its flaws. Firstly, you can earn 5% rebates for both gasoline and auto maintenance purchases for up to $1,200 in annual spending. If your vehicle is a gas guzzler, then you may just reach that limit very quickly. The tiered rebate formula for cash back bonus is not impressive as well.
Despite these "flaws", this is still a very good gas credit card. Firstly, you get 5% rebates on gasoline purchase at any station. Presently, the Blue Cash is the only other card that pays 5% on gasoline purchase. But you need annual spending to exceed $6,500 before you earn 5%. With this card, you start earning 5% right away. Secondly, this is the only credit card that allows you to earn 5% rebates on auto maintenance expenses. Lastly, Discover allows you to exchange your cash rebates for up to double the value in gift certificates of merchant partners. The Discover® Open Road Card is best used for just gasoline and auto maintenance purchases and we highly recommend it to save money at the pump.
PositivesNo annual feeEarn 5% rebates on gasoline and auto maintenance purchasesCan double rebate percentages through gift certificatesRebates do not expire
NegativesTiered rebate formulaUses the two-cycle average daily balance method for calculating balances
| Discover Open Road Card |
| Reward Benefits |
| Rebate Formula |
Earn 5% rebates for $1,200 in annual spending on gasoline purchases and auto maintenance purchases
For other purchases, earn 0.25% for first $1,500 in annual spending, 0.5% for next $1,500 in annual spending, 1% for spending above $3,000 |
| Rebate Expiration |
No expiration |
| Travel and Insurance Benefits |
$500,000 in travel insurance
$25,000 in auto rental insurance |
| Cost/Fees/Interest rates |
| Introductory rate |
0% apr for 12 months (balance transfers)
0% apr for 6 months (purchases) |
| Annual Fees |
No annual fee |
| Purchase APR |
10.99% to 18.99% |
| Balance Transfer APR |
10.99% to 18.99% |
| Cash Advance APR |
20.99% or 23.99% |
| Penalty/Default Rate APR |
Up to 28.99% |
| Min Finance Charge |
$0.50 |
| Grace Period |
25 days |
| Balance Calculation Method |
2-cycle Average Daily Balance (including new purchases) |
| Cash Advance Fee |
3% min $5.00 |
| Balance Transfer Fee |
3.00% for each balance transfer made under this offer, with a minimum of $10 and
a maximum of $75. |
| Over-the-credit-limit fee |
$15 on balances up to $500, and $39 on balances over $500. |
| Late Payment fee |
$19 on balances up to $250 and $39 on balances over $250. |
Apply for the Discover® Open Road Card
|
