Discover Bank • Credit Scores and the Price You Pay for Credit
Your credit score
Your credit score is not available from Experian Information Solutions, Inc., which is a consumer reporting agency,
because they may not have enough information about your credit history to calculate a score.
A credit score is a number that reflects the information in a credit report.
What you should
know about credit
scores
A credit report is a record of your credit history. It includes information about whether you pay your bills on time and
how much you owe to creditors.
A credit score can change depending on how a consumer's credit history changes.
Why credit scores
are important
What if there are
mistakes in your
credit report?
Credit scores are important because consumers who have higher credit scores generally will get more favorable
credit terms.
Not having a credit score can affect whether you can get a loan and how much you will have to pay for that loan.
You have a right to dispute any inaccurate information in your credit report. If you find mistakes in your credit
report, contact the consumer reporting agency.
It is a good idea to check your credit report to make sure the information it contains is accurate.
Under Federal law, you have the right to obtain a free copy of your credit report from each of the nationwide
consumer reporting agencies once a year.
To order your free annual credit report:
How can you obtain
a copy of your
Credit Report?
By telephone:
Call toll free 1-877-322-8228
On the web:
Visit www.annualcreditreport.com
By mail:
Mail your completed Annual Credit Report Request Form
(which you can obtain from the Federal Trade Commission’s website at
http://www.ftc.gov/bcp/online/include/requestformfinal.pdf) to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
How can you get
more information?
For more information about credit reports and your rights under Federal law, visit the Consumer Financial Protection
Bureau's website at www.consumerfinance.gov/learnmore.
PRICING SCHEDULE
Interest Rates and Interest Charges
Annual Percentage
Rate (APR) for
Purchases
0.00%
APR for Balance
Transfers
Offer #1
Intro APR until the last day of your billing period ending during 02/2024.
After the intro APR expires, your APR will be
the market based on the Prime Rate.
25.24%.
This APR will vary with
10.99% intro APR for 6 months from date of first transfer, for transfers that post to
your account by 11/10/2023.††
After the intro APR expires, your APR will be 25.24%. This APR will vary with the
market based on the Prime Rate.
APR for Cash
Advances
29.99%
This APR will vary with the market based on the Prime Rate.
Penalty APR and
When It Applies
None
Paying Interest
Your due date is at least 25 days after the close of each billing period (at least 23 days for
billing periods that begin in February). We will not charge you any interest on purchases if you
pay your entire balance by the due date each month. We will begin charging interest on cash
advances and balance transfers as of the later of the transaction date or the first day of the
billing period in which the transaction posted to your Account.
Minimum Interest
Charge
If you are charged interest, the charge will be no less than $0.50.
For Credit Card Tips
from the Consumer
Financial Protection
Bureau
To learn more about factors to consider when applying for or using a credit card, visit the
website of the Consumer Financial Protection Bureau at
http://www.consumerfinance.gov/learnmore
Fees
Set-up and
Maintenance Fees
• Annual Fee
None
Transaction Fees
• Balance Transfer
Offer #1
•
Either $10 or 5% of the amount of each cash advance, whichever is greater.
Cash Advance
Intro fee of 3% of the amount of each transfer for transfers that post to your
account by 11/10/2023 with the 10.99% intro APR balance transfer offer
described above. After that, 5% of the amount of each transfer.
Penalty Fees
•
Late Payment
None the first time you pay late. After that, up to $41.
•
Returned Payment
Up to $41
How We Will Calculate Your Balance: We use a method called "daily balance (including current transactions )." See
your Cardmember Agreement for more details.
Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your
Cardmember Agreement.
††
See the terms of the applicable balance transfer offer for details.
CONTINUED ON REVERSE SIDE
Additional Interest Rate Information
Rate Plan¹
Annual
Percentage
Rate
Daily
Periodic
Rate
Expiration
Date²
Purchases
V=PRIME+16.74%
25.24%
0.06915%
Cash Advances
V=PRIME+21.74%
29.99%
0.08216%
0.00%
0.00000%
02/2024
10.99%
0.03011%
6 months4
Intro Purchase Rate
Intro BT Offer 1
¹ V=Variable rate. Variable rates are as of July 31, 2023, and will vary with the market based on the Prime Rate.
² Expiration dates are the last day of the billing period ending during the month indicated.
4
From date of first transfer, for transfers under this offer that post to your account by 11/10/2023.