New Discover Motiva Card Offers Interest Refunds to On-Time Payers
Discover launched a new consumer credit card this week, the Discover Motiva Card, that rewards balance-carrying customers whenever they make on-time payments for six straight months. Cardholders who meet that criteria will get one month’s credit card interest charges refunded back to them, essentially allowing them to have an interest-free month as often as twice per year. There is no limit to how many times Motiva cardholders can take advantage of the interest refund, and the interest refunds are on top of the traditional Cashback Bonus that Discover is known for.
According to Discover, the Motiva card is in response to customer feedback that showed cardholders who were “good” customers in terms of on-time payments felt the card companies only give substantial rewards to the biggest card spenders.
Like all Discover cards, the Discover Motiva Card has no annual fee.
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