Discover it®

Most Attractive: 0% Intro APR, great cash back opportunities

Least Attractive: Variable APR applies after introductory period.

Editor Rating:

Credit Profile: Excellent Credit recommended.

Interest Rates

  • Introductory Rate: 0% Intro APR* on purchases and balance transfers for 14 months
  • APR (Purchases): 10.99%-22.99% Variable
  • APR (Cash Advances): 24.99% Variable

Fees

  • Annual Fee: $0
  • Grace Period: N/A
  • Late Payment Fee: None the first time you pay late. After that, up to $35.
  • Over-The-Limit Fee: N/A
  • Cash Advance Fee: $10 or 5% of the amount of each cash advance, whichever is greater.
  • Balance Transfer Fee: 3% of the amount of each transfer.

Reward Program

  • Points per Dollar: 1% cashback bonus on all eligible purchases
  • Additional Points: 5% bonus on revolving categories
  • Point Details: N/A
  • Expiration: N/A
  • Yearly Limit: N/A

The Discover it® card is an excellent option for those looking for a 0% introductory rate, good cash back rewards and no annual fee. Contrary to popular belief, Discover cards are accepted at many locations throughout the world. The card also has a relatively lower on-going purchase APR.

Key Features Of The Discover it® Card

Introductory APR: 0% introductory APR on purchases and balance transfers for 14 months from opening the card. This is an above average introductory period.

Fantastic Rewards Program: Discover offers 1% cash back on all eligible purchases. However, Discover also gives 5% cash back on revolving categories that change each quarter. These categories have included restaurants, movie theaters, home improvement, gas stations and holiday shopping.  From April through June 2014, receive 5% cash back up to $1,500 at Home Improvement Stores, Furniture Stores, and Bed Bath & Beyond.

Lower On-Going Purchase APR: If you plan on carrying a balance after the introductory period, this card has a relatively low on-going purchase APR based on credit worthiness.

Main Advantages

Customer Service: Discover offers 100% US-based customer service and direct access to their friendly customer service staff.

Cashback Concierge SM: You can call any time to learn how to get the most out of your rewards based on your use of the card.

Fee Structure: This card does not have any annual fee and the issuer is fair when it comes to late payment fees and over-the-limit-fees.

FICO Scores: Discover will provide you with your free FICO score on your monthly statement to help you stay on top of your credit*.

Main Disadvantages

Added Perks: Some other cards offer additional travel perks and benefits, which this card does not have. But those perks usually come with an annual fee.

Designed For Better Credit: This card is not designed for those with poor or fair credit scores, so keep this in mind when comparing cards.

Editor's Final Word

The Discover it® card is a fantastic card for those with a strong credit profile who are looking for on-going cash back rewards, good customer service and an attractive introductory period. With no annual fee and low fee structures, this card has very few drawbacks. Plus, Discover is now accepted at more locations around the world than ever before. It's tough to pass up an offer as attractive as this!

To apply for the Discover it®, click here to be redirected to the issuer's website.

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