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Is Discover Good Credit Card

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Discover It Credit Card Review | Best Beginner Credit Card

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Is The Discover It Card A Good Credit Card

Yes, the Discover it® Cash Back is a good credit card for those who are seeking to maximize their rewards and take advantage of all the Discover card benefits. Be sure to look at the Discover rewards calendar before committing to this card to ensure your spending habits align with the rotating Discover card rewards.

Why Should You Get It

No annual fee¹ – getting a secured credit card with no annual fee makes it cheaper to build your credit score. Apply for your Discover secured card, put down your returnable deposit, and manage your money responsibly to avoid interest or late payment fees. If all goes well, you could build your credit history in a pretty short space of time, and at no cost to you.

Great cashback potential – especially in the first year – the rewards on offer in the first year in particular are worth having – with a minimum of 1% cashback on spend, rising to 2% for gas and restaurant bills¹. Then, at the end of the year, Discover will automatically reward you with their cashback match, doubling your rewards.

Automatic card reviews to move you faster to a standard credit card product – Discover will review your card use on an ongoing basis, and you may be offered a standard unsecured card in under a year. All the while, your credit history will be being shared with major credit bureaus, so youre building a solid track record for future financing applications, too.

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Discover It Cash Back Vs Citi Double Cash Card

The Citi® Double Cash Card is a great cash-back card for those who value simplicity. It offers 2% cash back on all purchases1% when purchases are made and another 1% when theyre paid off, without charging an annual fee.

The card offers a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 13.99% – 23.99%, based on creditworthiness. There is also an intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer . This card smokes the Discover it® Cash Back with regard to cash-back earning with its lack of caps.

How We Picked The Best Discover Credit Cards

How to Apply for Discover it® Cash Back Credit Card ...

Research Methodology: We analyzed Discovers selection of credit cards to identify their top offers currently on the market. The major factors we considered were:

  • Available rewards: Discover has cards offering a variety of cash back and travel rewards rates, so we found the most customer-friendly earning options.
  • Extra perks: With cards designed with specific consumers in mind, its important that any add-ons can help contribute to the cardholders goal. We looked for cards from Discover that feature benefits to help the traveler, cash back earner, credit-builder and more.
  • Rates and fees: We looked at whether cards had an introductory APR offer and how reasonable ongoing APRs were. We also took into account any extraneous fees or anything else that would make a card more expensive.

Our criteria also included rewards redemption, credit needed, security, ease of application, potential rewards, miscellaneous benefits.

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How We Picked These Cards

Discover aims its credit cards at a wide range of consumers, so we tried to pick categories that match the needs of as many people as possible. We hope theres a card on this list that youll find useful.

After choosing our categories, we looked at what features each Discover credit card offers. Each of the credit cards we looked at has no annual fee but differs slightly, and we took these differences into consideration when choosing which is best in each category. For example, we looked at which Discover credit cards offer the best perks that could serve more students, not just the card that offers the best possible rewards.

Avoid High Aprs And Credit Card Fees Get A Wise Debit Card Today

Credit cards arent necessarily the right way to go if you travel or shop online with international retailers, either. In this case you could get a better deal with the Wise debit card instead.

The Wise card comes with a linked multi-currency account to hold 50+ currencies, and lets you spend all around the world with no foreign transaction fees. There are no credit checks when you apply and because its a debit card, theres no chance youll end up paying interest or late payment fees. Just top up your account with the amount you want to spend, switch to the currencies you need with the real exchange rate, and youre done.

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Neo Financial Mastercard Essential*

The Neo Financial Mastercard Essential works with thousands of partnering vendorsbig box, chains and localacross Canada to deliver noteworthy cash back rewards. Spends earn you an average of 4% cash back, with 1% being the minimum. That guaranteed 1% beats most cards, as the typical base rate for cash back cards is 0.5%. And Neos bonus rewards of 15% back on your first purchase sweetens the deal. Those looking for even beefier bonuses can consider the Neo Financial Mastercard Plus or Max for higher earn rates .

To find out if a local business is a partner, check Neos local map guide in its app. When you use your Neo credit card, you can score special deals plus cash back. Its a win-win. It also has bigger partners too, like Bell, Canadian Tire and Esso.

  • Annual fee: $0
  • Welcome offer: Earn 15% cash back on your first purchase.
  • Earn rate: It does vary, but it averages 4% back on the free standard plan, with a minimum 1% cash back.
  • Additional benefits: Mastercard Zero Liability fraud protection freeze your lost card

Selecting A Rewards Credit Card

Discover Credit Scorecard

Generally speaking, cards that earn you points are usually best used for travel redemptions. These cards will likely give you other ways to cash out your points, but the majority of the time, you get the most value for your points when redeeming for travel. Similar to cash-back cards, you want to pick a card that gives you the most points on the categories you spend the most money. You also want to figure out what type of travel you prefer you could get an airline-branded credit card or a hotel-branded one. There are also credit cards that allow you to redeem for any type of travel. Regardless of what you go with, you need to know how the reward programs work so you can maximize your points.

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Mbna Rewards Platinum Plus Mastercard*

The MBNA Rewards Platinum Plus Mastercard offers a strong sign-up bonus for a no-fee card, and the 10,000 points on offer are easy to earn. All you need to do is spend $500 in grocery and restaurant purchases within 90 days of getting your card to receive the first 5,000 points. Sign up for paperless e-statements to receive the rest. MBNA Points are flexible and easy to redeem for a variety of things including travel, where you get the most bang for your buck at 100 points to claim $1 in travel. For reference, it takes 200 points to claim $1 in cash back.

  • Annual fee: $0
  • Welcome offer: For the first 90 days, you can get up to 10,000 points : 5,000 for registering for paperless e-statements, 5,000 for spending $500 in purchases with the card. Plus, earn 4 points for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases.
  • Earn rate:Earn 2 points for every $1 spent on eligible groceries and restaurants and 1 point per $1 on everything else.
  • Additional benefits: Purchase assurance and extended warranty

What Credit Score Do I Need For A Discover Credit Card

Many or all of the products here are from our partners that pay us a commission. Its how we make money. But our editorial integrity ensures our experts opinions arent influenced by compensation. Terms may apply to offers listed on this page.

Discover has a large roster of popular . If you’re thinking of applying for one, then you probably want to know the required for a Discover credit card.

Like every credit card company, Discover looks at many different factors during a credit card application. There’s no set credit score for a Discover credit card, because your full credit history and financial profile matter.

There are, however, suggested credit scores for Discover credit cards. With this information, you can pick out a Discover card where you’ll have a strong chance of being approved.

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What Credit Scores Do You Need To Get Discover Cards

Most of Discovers credit cards are designed for good credit. Thats a score of at least 670 with FICO, or at least 700 with VantageScore.

Its student credit cards are easier to get. Theyre designed for limited or no credit, so you may have a chance of being approved even if youve never used a credit card.

Discovers secured card is intended for those with bad credit, but like most secured cards, its a strong contender for those with limited or no credit, too.

Discover It Miles: Basics

Discover it® Business Card

Card type:Travel.

Annual fee: $0.

Sign-up bonus: UNLIMITED BONUS: Only Discover gives you an unlimited match of all the Miles youve earned at the end of your first year. For example, if you earn 35,000 Miles, you get 70,000 Miles. Theres no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.

Ongoing rewards: 1.5 miles per dollar spent on all purchases.

Interest rate:0% intro APR on Purchases for 14 months and 10.99% intro APR on Balance Transfers for 14 months, and then the ongoing APR of 11.99%-22.99% Variable APR.

Foreign transaction fee: None.

Also Check: Credit Cards Based On Transunion Score

Why We Like It

  • 5% cash back in categories that change every three months, up to $1,500 spent per quarter
  • Double cash back in the first year
  • Intro APR for purchases and balance transfers
  • Free FICO Score 8 from your TransUnion credit report
  • No annual fee
See Terms See Terms

Theres no annual fee required to use this card, and youll get an introductory APR for both purchases and balance transfers. That makes it good choice if you want to pay off some large purchases over time at no interest, or transfer a balance away from a card with a high APR.

Discover has no foreign transaction fees on any of their cards, making them good options if youre traveling outside the country. Most other cards will charge a fee of up to 3% on purchases when traveling abroad.

Discover is also quite forgiving when it comes to the penalty terms. Your first late payment fee will be waived as a courtesy, and there is no penalty APR to apply if youre late on a payment or over-limit, like many other cards.

Discover It Secured Credit Card: Highlights

The Discover it Secured Credit Card¹ is a good way to build or rebuild your credit history, so you can transition to an unsecured card or get easier access to finance in the future. Put down a deposit of 200 USD, and earn cashback and rewards on your spending.

Here are the key features of the Discover it Secured card²:

Annual fee
Other perks

Your credit history is shared with all 3 major credit bureaus, to build credit score

You can get your security deposit back when you move to an unsecured card – this process can start in as little as 8 months

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Where Is Discover Accepted

Although its most common in the United States, Discover is accepted in 200 countries and territories. While its the smallest major U.S. network, Discover is still widely accepted at retailers across the states. In fact, among merchants who accept cards, 99% of them accept Discover. With widespread acceptance both in the states and around the globe, Discovers cards can be great travel companions. If youre planning a trip, you can check the Discover Card International Acceptance Map to see if your card is good-to-go.

Best Discover Credit Cards Of February 2022

Discover it Credit Card Review | Best Beginner Credit Card?

Many or all of the products here are from our partners that pay us a commission. Its how we make money. But our editorial integrity ensures our experts opinions arent influenced by compensation. Terms may apply to offers listed on this page.

Discover has some of the best cash back cards. It’s also one of the highest-rated card issuers for customer service, making it a winning pick no matter which way you cut it. Read on to learn more about Discover’s current credit card products.

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Discover It Secured Credit Card: Best For Cash Back And Credit Building

Why we picked it: You can build credit without putting down a ton of money upfront as a deposit. Even better, Discover promises to review your account on a monthly basis starting at seven months to see if you qualify for an upgrade to an unsecured line of credit.

Pros: Your approval odds are high whether you have a poor credit history or none at all. Plus, the cards generous cash back program and Cashback Match mean you could actually earn money in the first year by using the card.

Cons: If you opt for a low security deposit , it may be difficult to keep your in check. Additionally, the cards APR is extremely high, regardless of your credit history: All cardholders are assigned the same variable APR of 22.99%.

Who should apply? This no-annual-fee cash back card with the potential for graduation to an unsecured credit line after seven months is a terrific choice for anyone building credit.

Who should skip? Credit-builders who dont love the idea of putting down a deposit to grow their score should look to student credit cards or .

Read our Discover it® Secured Credit Card review or jump back to this cards offer details.

Discover Vs Visa: How They Differ

Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Have you ever wondered if theres really a big difference between Visa® and Discover? Youll notice both companies logos on the front of credit cards and at cash registers around the world but what sets them apart? Lets dive into the history of both companies, the benefits associated with credit cards from each company, and their acceptance rate around the globe.

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How To Choose A Discover Credit Card

Because Discover cards have such specialized structures, its a good idea to take a look at your own habits and identify the type of consumer you are. Using our CardMatch tool can help narrow down your options before applying and give you an idea of the right card for you based on your credit profile. Discover offers the gamut credit building, student, travel and cash back cards. Which best suits you?

A Safer Card For Learning To Use Credit

Discover it Credit Card Review (Cash Back Vs. Balance ...

When youre just starting to learn to live within a budget and master your finances, the last thing you need is to worry about excess fees or unaffordable interest rates. Discover helps lessen this worry by offering consumer-friendly terms that are much more forgiving than what youll find on most rewards credit cards.

For example, it doesnt charge a late fee the first time you miss a payment deadline , so you have some wiggle room in case you accidentally forget to make an on-time payment. It also doesnt charge a penalty rate. So if you run into some money trouble and have a hard time paying your bills, Discover wont make your situation worse by dramatically hiking your interest rate.

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A Brief History Of Discover

Discover Bank is a relative newcomer to the credit card industry, and has already established itself as both a major card issuer and payment network. But that didnt come without a fight. Now a part of Discover Financial Services, Inc., it provides retail banking services with a focus on U.S. consumers, and has been expanding its service portfolio and global reach.

The first Discover credit card had its official launch in 1986, in a national campaign featuring a commercial during Super Bowl XX. This first card was issued by Dean Witter Financial Services Group, Inc., a part of the Sears corporation. That might sound strange, but Sears had actually been in the credit business for decades at that point: It began offering in-store installment payment plans to farmers in 1911, with other credit products following.

The very first use of a Discover card was a trial run the year before: A $26.77 purchase at a Sears in Atlanta, on September 17th, 1985.

Discover cards caught on fast in the U.S., thanks in part to having no annual fees and higher-than-usual credit limits. They were one of the first to offer cash back for purchases, an attractive feature the company still focuses on today.

In 1987, Discover became the only card accepted by the U.S. Customs Service to pay customs duties, spurring its adoption even further. And by 1989, Discover signed its 1 millionth merchant , helping to cement its place as a payment network.

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