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First National Bank Discover Card – Rewards Really Everywhere?


The First National Bank Discover card, which, like many others, comes with a variety of stated benefits and rewards. However, are those benefits and rewards worth the expenditures you have to make to earn them? Many credit card offers certainly look attractive, but only by carefully reading terms and conditions and understanding rules, regulations and exclusions when it comes to redeeming rewards and benefits can potential card holders make knowledgeable and educated decisions.

 First National Bank Discover card – Are the Rewards Everywhere?

The First National Bank website states that when using the First National Bank Discover card, you can earn cash rewards ‘everywhere’. Front and center are some of the rewards that come with the card, including 5% cashback on qualifying purchases and a 0% introductory APR on balance transfers and purchases for the first 12 months following your account opening.

After that, First National Bank states that you can still take advantage of saving options even after the variable rate rises to 13.99% to 19.99%, depending on your credit history and credit worthiness. That might depend on your credit limit and credit card usage. The First National Bank Discover card doesn’t charge an annual fee, which is certainly an attractive perk to many credit card holders.

However, First National Bank is very clear about warning – and that’s how we took it – that First National Bank Discover card holders MUST make payments by the due date, have all your payments honored, and to stay within the range of your credit limit in order to maintain these benefits. No ifs, ands, or buts.

A number of caveats apply to this card, including the fact that you will not receive introductory rates on cash advances. However, you will pay a relatively low 3% transfer fee for the first year of your account, or a minimum of $10, whichever happens to be greater. After the first year, the balance transfer fees rise to 5% (or a minimum of $10), again whichever is greater.

The bank is also very clear that, in the event that you make a late payment, otherwise default on your loan, or fail to adhere to the terms and conditions of the card, that they reserve the option to alter the account terms for the First National Bank Discover card. This is yet another reason why we urge potential card holders to carefully read terms and conditions, as well as the fine print found not only on the website, but the paperwork and disclosures attached to such card accounts.

Summary of Credit Terms

Let’s talk about interest rates, fees, and other information regarding the First National Bank Discover card. As mentioned earlier, the first year of your card enjoys a 0.0% introductory APR. Following the first year, you can expect to see 13.99%, 16.99%, or 19.99% APRs attached to your card, depending on your credit history. The APR for cash advances is 25.24%.  If you make a late payment, a payment is returned unpaid, or you go over your credit limit, the APR shoots up to 29.99%, and that percentage may remain on your account indefinitely.

Foreign transaction fees apply in the amount of 3%.  Cash equivalent transactions and cash advances come with a 5% or $15 fee on each cash advance equivalent transaction or cash advance, depending which is greater.

If you make a late payment, or a payment is returned unpaid, you can expect to pay a $35 penalty fee.

Reading the terms and conditions also informs First National Bank Discover card members that balance transfers are only made following approval by First National Bank. Just because you have credit available on the First National Bank Discover  card account doesn’t mean that a balance transfer will be made. First National Bank may also limit the amount of balance transfers.

 First National Bank Discover Card Rebate Rewards Program

First National Bank determines which transactions and purchases are classified as “qualifying”. For example, a participating member can earn cashback rebate rewards based on their qualifying card transactions, but stipulations apply. For example:

  •  50% on accumulated transactions that don’t exceed $2500
  • 1.00% on qualifying card transactions after that $2,500 amount is reached.
  • Such rewards do not apply to expenditures for finance charges, annual fees, or cash advances, balance transfers and others as stipulated by the terms and conditions.

In addition to the qualifying credit transactions mentioned above, cardholders can earn 4% cashback bonuses on top of that, following $10,000 in qualifying card transactions posted to your account.  This 4% cashback in bonus rebate rewards offers a maximum of $150.  After you’ve earned that $150 in rebate rewards during any qualification period, you don’t earn any additional bonus rebate rewards, although you can continue to earn 1.00% on transactions. Check out the fine print regarding card rewards at the website.

Eligibility to the program and your rewards are only accessible if your account remains in good standing, but if you don’t pay your account in a timely manner or default on any of the terms in the card member agreement, you risk forfeiture of all your accumulated rebate rewards.

The rebate rewards can be redeemed in $25 increments, and rewards are offered in rebate credits applied to your statement account, deposits to a checking or savings account, or paper check. Take your time reading through not only the Terms and Conditions attached to the card, but all the summary and stipulations regarding the rebate rewards program. You may not be getting/earning what you think you are if you don’t read the fine print. The same goes for how/when/where you redeem your rewards.

 Bottom Line

Yes, it may take some time to read through all the fine print, rules, regulations and stipulations attached to the First National Bank Discover Card records, redemption offers, and usage. Read carefully to make sure you understand exactly how you earn redemption points, and then determine how much you have to spend in order to receive those points. Don’t be caught by surprise. The First National Bank Discover card seems like a pretty good deal on the surface, but when you get deeper into the terms and conditions, and rewards program summary, you may just discover that the cost are not worth the rewards. Spending thousands of dollars for a few hundred dollars in rewards just doesn’t seem like such a good deal.

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