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Discover it® Review

Our editor's take

 CardRatings Managing Editor
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Discover it brings back the same kind of feeling that early customers had when Discover invented the cash back credit card in the 1980s. Times have changed, and everyone from major banks to neighborhood credit unions now offers rewards. That's why Discover has returned to their roots, refreshing a classic product with a commitment to customer experience that may cause competitors to start playing catch-up all over again.

How Discover it aims to redefine credit card customer service
A recent Bain & Company survey identified that many Americans make their banking decisions based on "moments of truth" instead of just prices. Researchers found that consumers often say they want the biggest rebates and the cheapest prices, but that they actually decide to stay loyal to a bank based on what happens when they need a card replaced or a transaction reversed.

Discover aims to capture that loyalty by access to live, American-based agents and by empowering those customer service professionals to resolve problems quickly. Agents can process same-day payments as late as midnight on the east coast, assuring customers who worry about forgetting to send a check. They can waive the late fee for your first missed payment, and they'll even help you work out a lower APR or a lower minimum payment if you lose your job.

Best card for no-hassle service and solid rewards
Because many of us don't like to think about potential calamities, the Discover it's reward program offers plenty of good news. Instead of a tiered structure with spending thresholds and other limitations, Discover it provides a simple, 1 percent rebate on every purchase. It also shares quarterly bonus offers with other Discover it Cards, meaning that you can still get up to 5 percent cash back, subject to maximum quarterly spend, on eligible purchases in specialty categories when you enroll each quarter for the 5 percent categories.

Discover makes it easy to redeem your rewards as well. Instead of tracking a convoluted points system, you can use Discover's website to watch your CashBack Bonus balance grow. Discover's online shopping portal offers up to 20 percent back from participating merchants. A partnership with Amazon.com means you can redeem your rewards at anytime, for just about any kind of product.

How Discover it compares to other cash back credit cards
Discover it doesn't offer the biggest set of rebates on the market, but it remains one of the country's most accessible cash back credit cards with no annual fee. By comparison, American Express offers a fleet of cash back cards with rebates that range between 2 and 5 percent. Like Discover, American Express earns significant praise for its customer service operations. American Express usually restricts its cash back cards to applicants with excellent credit. If you're the kind of customer who's worried about catching a payment before it's late, those cards may be out of reach.

This card also requires excellent credit however it more closely resembles the Chase Freedom card. Like Discover, Chase offers rotating, quarterly bonus categories. Although Discover has waived foreign transaction fees on the Discover it, Capital One cards, for example, enjoy a slight edge in parts of the world where Visa and MasterCard have built larger merchant networks.
Curtis Arnold
Curtis Arnold
CardRatings Editor

Discover it® details

Balance Transfer Intro APR
0%
Balance Transfer Intro Period
18 months
Purchase Intro
APR:
0% Intro APR on purchases
Period:
6 months
Purchase APR
10.99% - 22.99% Variable*
Annual Fee
$0 
see more details ∨

Credit Card Rate Information:


 
  Purchase
  Balance Transfer
  Cash Advance
Index:
 Prime
 Prime
 Prime
Margin:
 7.74 - 19.74
 7.74 - 19.74
 21.74
APR:
  10.99% - 22.99%
Variable*
 10.99% - 22.99% Variable*
 24.99% Variable*
APR Floor:
 None
 None
 None
Intro Rate:
 0% Intro APR on purchases
 0%
 None
Intro Period:
 6 months
 18 months
 None


Finance Calculation Method:
 Daily Balance
Default/Penalty APR:
 None
Default/Penalty Margin:
 None
Default/Penalty APR Floor:
 None
Penalty/Default Trigger:
 None

Credit Card Fee Information:


Annual Fee:
 $0
Foreign Transaction Fee:
 None
Late Fee:
 Up to - $35
(None the first time you pay late. After that, up to $35.)
Over-the-limit Fee:
 None
Balance Transfer Fee:
3%(of the amount of each transfer.)  


Notes:

Rebate Description:
 
Special Notes:
 0% intro APR on balance transfers for 18 months--then a variable purchase APR applies, currently 10.99% - 22.99%. A 3% fee applies to each transferred balance. 0% intro APR on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% - 22.99%. *See rates, rewards, free FICO® Credit Score terms,balance transfer terms and other info by clicking "Apply."
Credit Card More Information:

Card Issued By:
 Discover
General Correspondence Address:
 PO Box 30943
Card Type:
 Discover
Card Class:
 Other
Card Category:
 Balance Transfer, Cash Back
States Available In:
 ALL
Minimum Credit Limit:
 $500 min.
Maximum Credit Limit:
 
Credit Limit Notes:
 

What Discover says about this card

  • 0% intro APR on balance transfers for 18 months--then a variable purchase APR applies, currently 10.99% - 22.99%. A 3% fee applies to each transferred balance.
  • 0% intro APR on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% - 22.99%
  • Over 5,000 cardmembers rated 4.8 out of 5 stars* and now Discover "Ranked Highest in Customer Satisfaction with Credit Card Companies in a Tie" by J.D. Power+
  • 5% cash back for online shopping and department store purchases on up to $1,500 - Oct. through Dec. 2014 when you sign up for 5%*. 1% cash back on all other purchases.
  • Free FICO® Credit Score online and on monthly statements.*
  • No annual fee, no late fee for your first late payment - APR won't go up for paying late, no overlimit fee and no foreign transaction fee.*
  • Each Discover purchase is monitored. If it's unusual, you're alerted by e-mail, phone or text and never responsible for unauthorized Discover card purchases.
  • *See rates, rewards, free FICO® Credit Score terms,balance transfer terms and other info by clicking "Apply."

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About Our Ratings ×

Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. Ratings vary by category, and the same card may receive a certain number of stars in one category and a higher or lower number in another.

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