Motiva Credit Card

Motiva Credit Card - Get Motivated to Pay on Time

It can hardly be denied that lots of Americans apply for credit cards to use them as unsecured loan. Because of the ever rising mortgage rates, more and more cardholders rely on their plastics as the basic source of funds to provide for everyday purchases. Carrying a balance at best and defaulting on credit cards at worst have become just as natural as putting food stuff and other petty things on plastic.

It often happens so, that a customer begins with just carrying a balance but ends up deep in debt. Credit cad companies are constantly facing risk of losing millions of dollars in collection charges because of the defaulting customers.

Because of that lenders don't object to you making minimum payments only but they do want you to make them on time. So, they've been looking for an effective way of motivating debtors to pay credit card bills on time. And they've found it.

A new credit card which motivates cardholders to pay each of their credit cad bills on time is on the market. Motiva credit card issued by Discover company turns you into a disciplined and responsible customer, rewarding you for regular and full payments of your credit card bill.

Now just think that late credit card payments will not only mean higher APR on purchases and late payment fee but will also take away a generous bonus amounting to a month's interest. Yes, that's exactly how Motiva card keeps you paying without fault month after month. You are given six months in a row to pay your bills on time and if you cope with it, you get the seventh month's interest as a bonus.

Then, all you have to do is to promptly effect the seventh month's payment, which extends the reward program over to the next six months. It is simple math. Twice a year, your monthly credit card bill is sponsored by your bank.

So, what does Motiva credit card do? It improves your credit management habits and helps you pay off your balance at a lower cost. It could be a perfect variant for credit cardholders who usually carry some balance on their credit line and pay extra in interest rates.

If paying interest on a credit card is not a good penalty enough for a customer to make monthly payments duly on time, then a customer should be aware that his/her irresponsibility can lead him or her to a credit card debt and even to bankruptcy .

In fact, Motiva credit card, rewarding you for timely payments, protects you against falling into debt. But, unfortunately, you will have to pay a certain price for such a generosity. It appears that you generally tend to spend more money and so carry higher balances with this card because you will want to receive a bigger bonus for paying on time.

Naturally, customers who do not carry balances at all, lose the privilege of "Pay-On-Time Bonus" offered by Motiva credit card and inversely he more you owe, the bigger the bonus. Evidently, under such circumstances it is going to take you much longer to get from under the debt but in the long run you will, provided you always send bills on time.

Jennifer Brown

Jennifer Brown, an external business consultant working with a Fortune 500 company, has years of experience to her credit. Despite having a busy schedule through the day, she takes time out to write articles dealing with credit cards, payday loans and other financial aspects. She has completed her Bachelor degree in Financial Services from Columbia University and has been actively involved in various activities for the betterment of society.