Credit Card Offer 3
Discover Miles Card
Annual Percentage
Rate ("APR") for
Purchases
0% until the last day of the billing period ending during
May 2007**; then the standard APR, an estimated rate
between 10.99% and 17.99%* (see Variable Rate
Information)
Other APRs
Balance Transfers: 0.00% until the last day of the billing
period ending during May 2007**; thereafter the standard
APR for purchases
Default Rate: Between 15.99% and 28.99%, based on
payment history
Cash Advances: 20.99% or 22.99%
Variable Rate
Information
The following APRs may vary monthly: Standard purchase
APR equals the Prime Rate plus an amount (the Margin)
between 3.49% and 10.49%†. Default Rate equals the
Prime Rate plus the Margin plus 5 percentage points for
each late payment (maximum 28.99%)*.
Grace Period for
Repayment of the
Balance of
Purchases
At least 25 days when you pay your balance in full each
month.
Method of
Computing the
Balance for
Purchases
Two-cycle Average Daily Balance (including new
purchases).
Annual Fee: NONE Minimum Finance Charge: $.50
CASH ADVANCE TRANSACTION FEE: 3% for each cash advance, with a
minimum of $5 and no maximum.
LATE FEES: $15 on balances up to $500, and $39 on balances over $500.
OVERLIMIT FEE: $15 on balances up to $500, and $39 on balances over $500.
*DEFAULT RATE: *If you are late making a payment, any rates not exceeding
the Default Rate will change to be the same rate and type (fixed or variable) as
the Default Rate. See Cardmember Agreement for details.
**You agree that if your application for a Discover Card with a minimum
credit limit of $5,000 and the APRs shown above is not approved, your
application will also constitute your request for a Discover Card with the
APRs shown above and a minimum credit limit of $500.
† The Prime Rate used is the highest prime rate listed in The Wall Street Journal
on the last business day of the month. Actual amount will be based on our
evaluation of your credit and will be disclosed with your card.