While its cash back offer, including 5% on rotating categories, is well known, the card offers some perks that may surprise you. Hi I have Discover card since 2016 started with cl of 9k and now have credit line of 25,500. Note that Discover is difficult to use overseas due to limited international presence. It also owns and operates the Discover and Pulse networks, and owns Diners Club International. Most other cards will charge a fee of up to 3% on purchases when traveling abroad. We recommend using one of the first 4 options above. Discover is one of those brands that remains steadfast in the credit card world. It boasts the same cash back rate as the Discover it Cash Back, but it offers a lengthier intro APR on … From April to June, you might earn higher cash back at grocery stores or gas stations. Discover it Miles also has a $0 annual fee and a $0 foreign transaction fee, like all Discover cards. Now with chip technology for enhanced security and protection at chip-enabled terminals, U.S. supermarkets (up to $6,000 spent annually), $250 statement credit for spending $1,000 in the first 3 months. We strive to ensure our content is clear and honest. » MORE: Discover credit cards mobile app review. I was pre-approved for … This bonus can be increased to 25%–75% for Bank of America Preferred Rewards members, which requires having at least $20,000 in combined balances at Bank of America. (The Discover it Cash Back’s 5% rate applies to the first $1,500 spent per quarter, then 1% is earned; activation required.). You’ll likely receive a decision almost immediately after you apply. Your first late payment fee will be waived as a courtesy, and there is no penalty APR to apply if you’re late on a payment or over-limit, like many other cards. When launched, Discover did not charge an annual fee and offered a higher-than-normal credit limit, features that were disruptive to the existing credit card industry. No Annual Fee, earn cash back, and build your credit with responsible use.Using your secured card will build a credit history with the three major credit bureaus. These include: If you don’t want to redeem on online, call 800-347-2683 to redeem your Discover rewards by phone. Keep in mind that you can only make balance transfers that don’t exceed your credit limit. For example, you could get 5% back on purchases at gas stations and wholesale clubs during one quarter, groceries during the second quarter, restaurants during the third quarter and Amazon.com during the last quarter. I know the credit limit is based off of one’s credit score and history, but based off a credit score in the 740 range which company usually offers the highest credit limit for a balance transfer card? While we may receive revenue and referral fees from advertising and affiliate links, advertisers do not approve our reviews. Eligible Discover credit cardholders can now activate bonus 5% cash … You’ll also get 3% back on transit and at U.S. gas stations. We create these rankings to help you narrow down a credit card that best suits your spending and budget. My income was 72k when I got the card. But you would still need to use your card fairly regularly. If you’re a Preferred Rewards client, you can increase that bonus to 25% – 75%. DISCLAIMER: All information posted to this site was accurate at the time of its initial publication. I t’s no secret that the Discover it card is one of my favorite credit cards. This can add up to quite a bit over time, and is a feature that most cards don’t have. The 3% and 2% categories are limited to the first $2,500 spent per quarter; after that you’ll earn 1% back in those categories. Statement credits will lower your balance, and direct deposits will simply wind up in your bank account. You can also download the Discover mobile app to keep track of your card and access the benefits and services. At the end of your first card year, Discover will match the cash rewards you’ve earned. Most credit card offers require very good credit. New York, NY, 10016. As you can see there’s quite a bit of overlap between the Freedom Flex and Discover it’s bonus categories, in many cases offering the same categories in the same months. Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. If you spend heavily on 5% bonus categories, you may be able to get away with spending less. Compare our top picks today. The Discover it® Cash Back card provides a straightforward way to earn quite a lot of cash back, for no annual fee. There’s no annual fee required to use this card, and you’ll get an introductory APR for both purchases and balance transfers. In 2013, Discover discontinued those cards and launched its line of “it” cards. You have a better chance of application approval with a credit score of 670 or higher. The Discover It is a great general purchase cash back rewards credit card, but some cardholders might find other cards to be better options, whether because of higher cash back percentages, fewer limits on rewards spending, better introductory offers, or more widespread acceptance. The Discover it® Cash Back credit card is a good but not great cash back card. The NHL Discover it card is the official credit card of the NHL, and you can order your card with the logo of any one of the 31 teams in the league. This beats any signup bonus offered by a similar card. (The Discover it Cash Back’s 5% rate applies to the first $1,500 spent per quarter, then 1% is earned; activation required.). You’ll have five different options for redeeming your cash back: As you can see you’ll have a few different options when you want to redeem your cash back. They both come from your TransUnion credit report so there is no difference there. Unlike the other cards on our list, the Blue Cash Preferred® Card from American Express (Review) comes with an annual fee of $95 (Rates & Fees). Discover credit cards are known for generous rewards, 0% introductory APRs, no foreign transaction fees, and customer service that treats you like you. When you click on any ‘Apply Now’ button, the most up-to-date terms and conditions, rates, and fee information will be presented by the issuer. Credit Card Insider is an independent, advertising supported website. 6% Cash Back on select U.S. streaming subscriptions. And after that first year you’ll only get the regular rate of 5% cash back on groceries, for a maximum of $75 cash back per year. There is no balance transfer offer, so there’s no advantage to transferring a balance from a card with a higher interest rate over to this card … Cash Back Credit Card; Travel Credit Card; NHL Credit Card; Student Credit Card; Business Credit Card; Cardmember Agreement; Banking; Home Equity Loans; Mortgage Refinance ; Personal Loans; Student Loans; Gift Cards; Debt Consolidation; Credit Card Benefits; Identity Theft Protection Usually you can only expect to get grocery stores as a category for the Discover it for three months out of the year, and you’ll have a quarterly maximum too. The Discover it Chrome features a reward structure that’s very different from the Discover it. Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. A subsequent innovation was "Cashback Bonus" on purchases. 4.1. EDITORIAL DISCLOSURE: The editorial content on this site is not provided by the companies whose products are featured. (The Discover it Cash Back’s 5% rate applies to the first $1,500 spent per quarter, then 1% is earned; activation required.). When you apply, you can choose one of nine available card colors. Learn much more about rewards credit cards and see our picks for the best ones! Enjoy new 5% categories each quarter! 6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases, 0% intro for the first 12 months (then 13.99% to 23.99% variable). Here’s a quick look at … It even lists key factors that affect my score so I know where to make improvements. This could mean some big increases in rewards for Bank of America clients. Discover Products. Discover is a credit card brand issued primarily in the United States. That applies to the first $6,000 you spend each year, then you’ll earn 1% on that category for the rest of the year. This is a great feature in case you forget to activate. Redeem Miles for cash in any amount to pay your bill, including your minimum payment. Finder.com is an independent comparison platform and It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered. Discover is currently headquartered in the Chicago suburb of Riverwoods, Illinois. The Chase Freedom Flex℠ (Review) has no annual fee and offers 5% cash back categories that switch throughout the year, just like the Discover it card. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. The Discover it® Secured is a great choice if you … Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee. With the Discover it card, by contrast, you would need to spend around $12,700 in the card’s first year to earn a $200 cash back match bonus (assuming an average rewards rate of 1.58% cash back across categories). Keep in mind that if you request a balance transfer that exceeds your credit limit, Discover may transfer a partial amount or decline the transfer. To earn that much with the Discover it in your first year you’d have to spend a minimum of $2,000 when Discover will double your cash back to 10%. Benefits aside, the most notable difference between these cards is how they offer rewards: either on a rotating schedule or not. I’ve carried a Discover card for a very long time and have made a small fortune off of its cash back features. Unlike some business credit cards, the Discover card has no annual fee. I’ve carried a Discover card for a very long time and have made a small fortune off of its cash back features. A regular rate of See Terms will apply after that. Best Discover Credit Cards The best Discover credit card is the Discover it® Miles because it gives 1.5 miles per $1 spent on all purchases and doubles the rewards new cardholders earn the first year, as an anniversary present. Rewards: Discover-It ® … 20% at Amazon.com up to $200 back in the first 6 months, 2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases, 0% intro for the first 15 months (then 13.99% to 23.99% variable). From the list of credit cards, select Discover it® Cash Back, then click. Best cash back credit cards for excellent credit, If you spend within the rotating quarterly 5% cash back categories, the no-fee Discover it® Cash Back card could be well worth your time. 5% back in rotating categories up to $1,500 combined each activated quarter (then 1%), 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases, 0% intro for the first 15 months (then 14.99% to 23.74% variable). Learn the details of our methodology and scoring. Any opinions, analyses, reviews, or evaluations provided here are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by the Advertiser. But take note that sometimes the Discover it will provide its 5% cash back at gas stations and restaurants, so you will want to use it on those occasions. Once approved, expect to receive the card by mail within seven to 10 days. Image courtesy of Shell. Our team evaluates credit cards to determine their value against similar cards on the market. No Blackout Dates. However, the cards have a very different structure to their cash back programs. When applying for new credit it’s important to know what your credit scores are and what’s on your credit reports. There is another version of the Blue Cash card with no annual fee, the Blue Cash Everyday® Card from American Express (Review) (Rates & Fees). can i transfer card debt for a family member onto my discover card? So, for that initial year, you’ll get an equivalent of 4% back on gas and at restaurants, and 2% back everywhere else. I like how easy it is to access the cashback feature and that I can use it to make my monthly payment. Alternatively, pick one of the 100+ card designs when you log in to your account to further personalize your plastic. We may rely on information that is provided Overall Rating: I did the prequal for this credit card, honestly had no real intentions on using it just boosting score for utilization purposes. Discover, launched nationally with a 1986 Super Bowl ad, is a credit card issuer and a card network (Discover offers are not currently available on WalletHub and may be out of date). Plus Our 9 Favorites, select categories of purchases that rotate throughout the year, pretty comparable between the Chase Freedom Flex and Discover it, Bank of America® Cash Rewards Credit Card, Blue Cash Preferred® Card from American Express, Blue Cash Everyday® Card from American Express, Gas Stations, Wholesale Clubs, Select Streaming Services, 5% cash back in categories that change every three months, up to $1,500 spent per quarter (then 1%; activation required), Intro APR for purchases and balance transfers, Free FICO Score 8 from your TransUnion credit report, $1,500 quarterly spending limit in the 5% categories, As a statement credit to reduce your balance, Directly into a bank account of your choice, Pay with rewards at select retailers, like Amazon.com, Travel purchased through Chase Ultimate Rewards, $200 bonus for spending $500 in the first 3 months. Bottom … Their representatives are typically friendly, and should be able to help with any questions or issues you have with your card. The extra perks and benefits are decent but not spectacular, giving you a way to monitor one of your credit scores. The following cards offer 5% cash back in rotating categories each quarter upon enrollment (up to the quarterly max, then 1%): Discover it Cash Back; Discover … The Discover it® chrome is a solid rewards card that fuels up your cash back returns as you fuel up your vehicle. Secured cardholders will not be eligible for the promotional 5% cash back offerings the unsecured version of this card features, but here is what you can … Instead of offering cash back rotating categories, the Discover it Chrome offers 2% cash back at gas stations and restaurants (up to $1,000 spent per quarter; then 1%), and 1% cash back everywhere else. We give the Discover it credit card 5 out of 5 Stars because it’s a great offer that you can have completely for free. After the intro APR period passes, you’ll be charged interest on purchases for any balance transfers you make. Discover is a financial institution that offers credit card and bank saving accounts. The Discover it® Balance Transfer offer is not currently in market. The credit limits on the Chase Sapphire Reserve® card are even higher, with forum visitors routinely reporting lines of $50,000 to $80.000. The Discover Card is the fourth-largest issuer of credit cards in the world. Discover is one of the few card issuers that offers one. It has only been around since 1986, and it has changed ownership several times, but it has managed to stay in business, grow and gain acceptance. This will let you earn rewards at a pretty high rate on a variety of purchases all year long, while only paying one annual fee. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. About Discover it® cards. Advertiser relationships do not affect card evaluations. Discover card with high credit limit. From July to September, at restaurants or for purchases made on Amazon.com, and so on. Discover has no foreign transaction fees on any of their cards, making them good options if you’re traveling outside the country. No, your rewards won’t expire as long as your account is open and in good standing. This is a nice card to have because Discover’s customer service is better than most. In general, the standard Discover it ® Card is for people with established credit. As you can see, the Blue Cash Preferred has the potential to be more rewarding when it comes to shopping at U.S. supermarkets. Get objective reviews and advice from Bankrate experts on the best Discover credit cards for the year 2021. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders. Most customer reviews complain about the high APR of the card, and some even complained that the company lowered their credit line without prior notice. This could be useful if you want to make a large purchase and carry your balance for a year. The easiest way to redeem your cash back is with a statement credit or direct deposit. The ability to get cash at checkout can be pretty handy, as long as you tend to shop at one of the participating retailers. Discover It® Secured Credit Card; Bottom Line: Regardless of how much cash-back you earn during your first year having a Discover It® credit card, all of your earnings will be matched at your first card anniversary. Credit card rewards are one of the benefits of having good credit. But the Discover Secured card is built for people looking to build or rebuild their credit with responsible use. The Freedom Flex card gets a leg up with a number of helpful benefits that aren’t included with the Discover it, including purchase protection, extended warranties, an auto rental collision damage waiver, and more. We may also receive payment if you click on certain links posted on our site. Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%. That comes to a potential $360 cash back every year on groceries, with the $6,000 limit. You’ll have the potential to earn quite a lot of cash back. For all other purchases that don’t have the quarterly boost, you earn a flat 1% cash back. Hope this helps! Get up to 5% cashback in rotating and newly added everyday categories. Your annual income, education level and employment information, Pay using your rewards at Amazon.com checkout, Deposit cash back into your bank account or use toward your Discover card bill. Aside from your credit score, the bank uses other pertinent information to approve a credit limit for you which is not disclosed to anyone. Discover Financial Services is an equal opportunity employer (EEO is the law). Kevin Joey Chen is a credit cards, banking and investments writer whose work and analysis have appeared on CNN, U.S. News & World Report, Business.com, Lifehacker and CreditCards.com. You’ll receive that extra cash back after your first year of using the card. Instead of rotating categories, you get 2% back at gas stations and restaurants year-round, with a $1,000 quarterly limit at the 2% rate. This is a very useful tool when developing your points strategy, so you can see how your credit score is being affected by your activities. Given this, any bank can give a high credit limit for as long as you match their eligibility requirements. Most cards with the Discover brand are issued by Discover Bank, formerly the Greenwood Trust Company. You can earn at the rotating 5% rate while it’s active, up to $1,500 spent per quarter, and then spend your gift cards when it’s convenient for you. Discover’s bonus works differently than most other offers. It’s possible to earn between 1 and 5 percent cash back depending on the card you choose, and Discover … The responses below are not provided or commissioned by bank advertisers. Discover is the first credit card company to offer a service like this for free. However, Credit Card Insider does not make any guarantees about the accuracy or completeness of the information provided. 3. 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