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Credit card companies have a lot to gain from enticing business clients into their accounts, and because of this fact the Discover Business Miles Card exists and has a lot to offer the working traveler. The card boasts a low APR, no annual fees and the ability to make balance transfers. There are other associated fees and costs, however, so to make full use of this card the cardholder needs to be aware of the extra fees as well as the advantages of using the credit card in terms of business travel. With the Business Miles Card, not only can you earn unlimited rewards on all purchases but you will earn $2 on every dollar spent on the first $3000 of gas and travel related purchases. This means that every time you use your card to pay for gasoline, airline tickets, holiday packages, car rentals, tours, cruises or any other item purchases from a travel agent, you will be gaining travel miles that can be redeemed on the same items. For all other non-travel related purchases, however, you will gain a small amount of miles that will be added onto the primary number. This card has a low APR at 13.99% however if you miss payments and tend to carry your balance forward then this is subject to change to the default APR at a stunning 28.99%. Late fees are calculated at $39 for any amount exceeding $100 and the overlimit fee comes in at $39 for any amount over $1000. These are particularly low fees for a Discover account, however the fee for cash advances is 3% per transaction with a $5 minimum and 20.99% annually; this changes to 22.99% after the introductory offer ends December first 2007. Balance transfers will cost you 3.9% until May 2009 when the rate increases to standard APR. Other Discover accounts allow zero APR on balance transfers however it seems that the focus of this account being the business travel miles Discover has decided this is unnecessary. If you make regular payments onto the account and clear your balance each month then you will retain your APR-free grace period of 25 days; if not, however, you will be charged on purchases before that time each month. For the business traveller this cards rewards are worth opening the account since you are unlikely to find another credit account that will cater so specifically to business travel. |
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