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Balance Transfer to Discover More(SM) Card Discover® More(SM) Card


Discover More(SM) Card
Intro APR: 0%

 Issuer: Discover®
More ways to enjoy more cash than anyone else*. Enjoy a 0% Introductory APR* and get 5% Cashback Bonus® in popular categories like travel, home, gas, restaurants, movies and more and up to 1% Cashback Bonus on all other purchases.
For your peace of mind you'll have a $0 fraud liability guarantee. This card also offers the easy online Account options that put you in control and you'll pay no annual fee.
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Your home is a valuable asset. You can tell the home equity folks know this by the numerous ads aggressively promoting home equity loans and home equity lines of credit. They suggest you put your home asset to work. But is it a good idea for you? And, if so, which should you choose?

The advertisements are seductive, but remember "all that glitters is not gold." Both loan options use your home as collateral for a loan. There’s nothing basically wrong with this idea other than the fact that you may be greatly risking your most valuable asset.

A home equity loan is a lump sum advance in the form of a second mortgage on your home. You borrow a specific amount for a certain period of time and pay back the balance with interest in installments.

A home equity line of credit, on the other hand, is a lot like a having another credit card. The lender agrees to lend a specific amount of money over an agreed period of time and the borrower can draw against this line of credit whenever they want.

Both programs use the equity in your home as collateral. Therefore, since the loan is secured, you usually get a lower interest rate than with a credit card. This is the main reason home equity loans are being touted as a great way to consolidate debt. Another benefit is that interest paid on these loans could be deductible on federal and state tax returns.

Sounds good doesn't it? But, in many ways, the disadvantages can outweigh the advantages.

To begin with, taking a chance on losing your home, by using it as collateral, is risky business. "Borrowers beware," says the Federal Trade commission. This type of loan is only for homeowners with more than enough steady income to cover the extra monthly payments. And they’re certainly not for anyone who might need to move and sell their home before the second mortgage becomes due.

But that's not how they’re being advertised, especially on the internet. Unscrupulous lenders promote these packages to the elderly on fixed incomes and to those with low incomes and poor credit ratings. They pretty much offer you any deal you want – whether it's to your advantage or not – just to get your business. These scammers gamble on people being unable to make payments or to sell their home soon enough.

Then the sharks move in for the kill, foreclose on the home and take all the equity that’s been built into it. Foreclosures in California have doubled in the past year. And this happens everyday – all over the country.

So protect yourself. Only deal with an established local lender you know you can trust. Don't let the promise of quick cash, easy loan approval or lower monthly payments cloud your judgment. And never let someone pressure you into making a decision and signing a contract.

Always think it through carefully, get a second opinion and be absolutely clear exactly what you’re getting into. After all, you want to make sure you keep a roof over your head!

Follow this advice and there’s a good chance you can keep your home.


  • Transfer your balance to Discover® More(SM) Card

  • Most people look to comps in their area to come up with the listing price for their property. This is logical, but you also have to focus on the bottom line.

    How Much Will You Make on The Sale of Your Property?

    It happens more often than you might imagine. A homeowner decides to sell and goes about figuring the best price to sell. They may set a price off of the cuff or do research to ascertain the best price that will result in a sale within a specific time period. What many do not take into account, however, is the ultimate amount the will get from the property. This can lead to brutal surprises when the ultimate amount is much less than expected – a concept known as seller’s remorse.

    In reality, the decision to sell your property should only be made after determining what you can objectively get out of it. Most people, however, tend to eyeball this amount. If you have a lot of equity in the property, it really is not an issue. If you don’t, you better start calculating or you could be in for a bad shock.

    The first place to start is the estimated price you will sell for minus the outstanding balance on your mortgage. This gives you a rough estimate of your equity, but should not be relied upon as the final cash out figure. Instead, you have to sit down and start calculating the other costs such as:

    1. Mortgage pre-payment penalties,

    2. Property taxes for the portion of the relevant year in which you are selling.

    3. Any costs associated with repairs to the property to get it in shape to sell.

    4. Attorney’s fees if a lawyer is required to be part of the process in your state.

    5. Incidental costs associated with the sale as agreed to in the purchase agreement with the buyer. Items can include title insurance premiums, recording fees, inspection fees, warranty insurance, escrow fees and so on.

    One area people completely forget to factor in is, ironically, the biggest expense. If you use a real estate agent, you are going to pay a significant commission. A typical 6 percent commission on the sale of a $300,000 home is $18,000. More and more sellers are bypassing this by selling their properties without agents, which makes sense given the money involved. Regardless, you need to ascertain how you will sell the home and the relevant cost of doing so as part of your overall calculation.

    Making the decision to sell is an emotional one. It should, however, also include a hard, cold look at the financials involved and whether doing so makes sense.


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  • Tired of high charges? Find the best database for credit cards! Read the fine print and find the Annual Percentage Rate (APR). This is the interest rate the companies charge you if you carry a balance. You want the lowest rate possible; as each percentage point drop will save you money on the months you have an outstanding balance.