APRs & Fees
Information on how we determine APRs, as well as any fees that might apply on the account. For a list of sample APRs and fees, please see the Pricing Schedule.
You can log in to the Account Center to view current APRs on your account. Or you can request your Cardmember Agreement by mail. Once you receive it, you can find your APRs and Fees in the Pricing Schedule. Please note that the APRs and fees included within this Pricing Schedule are for illustrative purposes only.
Your Pricing Schedule may include variable APRs. These APRs are determined by adding the number of percentage points that we specify to the Prime Rate. Variable APRs will increase or decrease when the Prime Rate changes. The APR change will take effect on the first day of the billing period that begins during the same calendar month that the Prime Rate changes. An increase in the APR will increase your interest charges and may increase your Minimum Payment Due.
The Penalty APR is triggered by a late payment. If you don't pay the Minimum Payment Due by the Payment Due Date, we may terminate any promotional rates on new transactions and increase your APRs by up to 5 percentage points for any new purchases and balance transfers. Of course, we will notify you in advance before applying a Penalty APR to your account. We will not apply a Penalty APR to Cash Advances.
Just be sure to pay the Minimum Payment Due by your Payment Due Date. Here are a couple ways we can help:
- Sign up for e-mail and text alerts to notify you when your payment is due
- Set up DirectPay to ensure your Minimum Payment Due is automatically paid by the Payment Due Date.
If you're having trouble making payments, give us a call at 1-800-DISCOVER (1-800-347-2683) to discuss the ways we can help you.
When It Applies
Each time that you do not pay the Minimum Payment Due by the Payment Due Date we may:
- terminate any promotional APRs on new transactions; and
- increase your APRs for new transactions to Penalty APRs.
We will not apply a Penalty APR to Cash Advances.
How It Affects Your Account
To determine the variable Penalty APR for a new transaction:
- We add up to 5 additional percentage points to the otherwise applicable APR.
- We set your Penalty APR based on your creditworthiness and other factors. These factors include your current APRs and Account history.
- When we first determine the Penalty APR, we use the Prime Rate that is in effect for the billing period in which you did not pay the Minimum Payment Due by the Payment Due Date.
Assume the promotional rate for Purchases is 2.99% and the standard rate for Purchases is 15.99%. If you pay late, the rate for all new Purchases could increase up to a variable rate of 20.99%.
We Will Notify You
We will notify you of the date a Penalty APR will take effect. The Penalty APR will only apply to new transactions with a Transaction Date more than 14 days after we provide the notice to you.
We May Reduce It
We will review your Account from time to time as required by law to determine if any Penalty APR should be reduced.
- A Late Fee is charged when you don't pay your Minimum Payment Due by the Payment Due Date
- A Returned Payment Fee is charged when your payment isn't honored by your bank
- A Returned Check Fee is charged when we cannot accept a check for payment (like if you exceed your credit line)
In each instance, the fee is $25 if you weren't charged that particular fee during any of your previous six billing periods. Otherwise, the fee is $35.
If you do not pay the Minimum Payment Due by the Payment Due Date, we will charge you a Late Fee. The fee is $25 if you were not charged a Late Fee during any of the prior six billing periods. Otherwise, the fee is $35. This fee will never exceed the Minimum Payment Due that was due immediately prior to the date on which the fee was assessed.
Returned Payment Fee
If you make a payment that is not honored by your financial institution, we will charge you a Returned Payment Fee even if the payment is honored after we re-submit it. The fee is $25 if you were not charged a Returned Payment Fee during any of the prior six billing periods. Otherwise, the fee is $35. This fee will never exceed the Minimum Payment Due that was due immediately prior to the date on which the payment was returned to us.
Returned Check Fee
We will charge you a Returned Check Fee each time we decline to honor a Check. The fee is $25 if you were not charged a Returned Check Fee during any of the prior six billing periods. Otherwise, the fee is $35. This fee will never exceed the amount of the Check.