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


Discover Motiva(SM) Card
Intro APR: 3.9%

 Issuer: Discover®
Pay-On-Time Bonus equal to a full month's interest each time you make 6 on-time payments in a row-- twice a year, every year when you pay on-time every month.
Earn 5% to 20% Cashback Bonus® at top online retailers through our exclusive online shopping site and up to 1% Cashback Bonus on all other purchases.
You will also enjoy free payment by phone and $0 fraud liability guarantee. APPLY NOW!
*View Discover® Card Rates, Fees, Rewards and Other Important Information.





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Education is one of the most important accomplishments in life. However, with the increase of tuition fees, students tend to risk borrowing money in order to build their future. Like any other debt, student loans could influence your future decisions and your credit history. College students who borrowed an amount larger than $5,000 are not likely to pursue higher education. Additionally, when a student loan debt has exceeded eight percent of your income, it is seen as bad credit when assessed for further loans.

There are two approaches in reducing your student loan debt burden. First, you could eliminate or reduce the primary balance. Second, you could reduce the monthly total payment. Given that debts are measured by comparing your income to the loan payment, if your payment is reduced, it will help you in evaluating the credit. Based from a recent study, approximately 50% of the 2004 college graduates were able to finish their studies through student loans, with average borrowed money of $10,000. When interest rates of loans fall, your education loans could be consolidated or refinanced.

There are several kinds of student loans. However, the most common are the federal and private student loans. The U.S. Department of Education’s Federal Student Aid programs manage the federally funded loans. The federal educational loan is the easiest kind to obtain. With a yearly fund of $60 billion, the U.S. government provides grants, work-study support and loans. On the other hand, private student loans are controlled by standard lending facilities. The most common student loan program could be obtained at renowned banks such as Citibank. These kinds of lenders usually charge high interest rates and provide unsecured loans.

Federal student loans are more advantageous compared to private student loans. The interests on federal loans are tax-deductible and on particular kinds of service, the student loan could be forgiven. You could also defer the payments if you decided to go back to school. On the contrary, private loans do not provide any benefit. Just like any other loan, they could be either secured or unsecured, and you are responsible to pay them back.

In consolidating your student debt, it is advisable not to mix the private and federal loans together. Be sure to consolidate every one of your federal student loans. Then, you could consolidate your private loans separately. If you were to combine both the federal and private loans in consolidating, all of the federal benefits will be ineffective. There are three scenarios to determine a person's eligibility in consolidating his federal student loans. First, the person should no longer be enrolled in school. Second, the person should be actively repaying the debt or at least be in the grace period of the loan. Lastly, consolidation companies require the customer to have a minimum loan amount. The average amount is $10,000.

There are many kinds of student debt consolidation plans offered. However, the majority of them offer the same services. These benefits include reducing the size of monthly payment, lowering the monthly payment by at least 30 percent or more, improvement of the overall credit rating and saving useful money.

When students do not consolidate their student loan debt, this will result in the inability to acquire future mortgages, car loans, credit cards, and other kinds of credit. Make sure to straighten up all your finances by using any consolidation options available. Choose the institution wisely, and have a credit-free life.


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

  • Credit cards are used by a lot of people today. Besides, with a credit card, you can purchase the items you need in your everyday life without the need to carry any money at all. The bank will be the one to pay for your purchases but you will also be required to pay it back in a monthly basis. The bank will send you the billing statement that will contain all the billing information, such as the items or services you purchased and also the interest.

    However, most banks will require you to have a good credit rating first. A credit rating is important. It will determine if you can get a mortgage or in this case, a credit card. Without a credit rating, you will find it hard to apply for a credit card.

    A credit rating will contain all the necessary information that the bank will need whether they can issue you a credit card or not. It will contain information, such as if you recently applied for credit, how long you had the credit, what type of credit you have (loans, mortgage, credit cards), how much you owe, and also your payment history.

    A good credit rating will get you the exact credit card you need.

    However, if you don't have a credit rating, you will really find it hard to apply for a regular credit card but it doesn't mean that you can't apply for one. There is one way that can help you establish a credit rating and at the same time, get a credit card. This is called a secured credit card. This particular credit card is great for people who are looking for a way to establish a credit history or to repair their credit rating.

    Getting a secured credit card is one of the best ways to establish a credit history. So, you may now ask what the difference between a regular credit card and a secured credit card. A secured credit card uses the money you deposit in the account. This card will also have a balance limit that will not be more than the amount you deposited in the account.

    Once you deposited an amount on the credit card, you can now use the credit card at once. With this kind of feature, it can be both beneficial to the lender and the borrower. Not only that this will establish a good credit history for the borrower, but it will also minimize the risk of overusing the credit card because he or she is only limited to spend the amount they deposit.

    For the lender, a secured credit card will minimize the risk of not being paid back by the borrower. The secured credit cards also doesn't have an annual fee that you have to pay for.

    Establishing a good credit history will start once you start using your secured credit card. Also, you can use the secured credit card for as long as you want. In time, as you build your credit rating, you can now apply for regular or unsecured credit cards.

    The main drawback on secured credit cards is that it will usually have a higher interest rate than most unsecured credit cards.

    Secured credit cards are great for people who are just starting out on establishing a good credit history. However, you should always make sure that you can afford to pay for the monthly bill in order to establish a good credit rating. Unsecured credit cards require you to be responsible, if you think that you are not responsible enough in terms of spending, you shouldn't apply for an unsecured credit card yet.


  • Raise your credit score with a help of Credit-Rocket! Read the Chase credit card reviews
  • 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.