About Discover it®

  • 0% intro APR on purchases & balance transfers for 14 months--then a variable purchase APR applies, currently 10.99% – 22.99%. A 3% fee applies to each transferred balance.
  • Rated 4.8 out of 5 stars by over 4,000 cardmembers.*
  • No annual fee, no late fee for your first late payment - APR won’t go up for us paying late, no overlimit fee and no foreign transaction fee.*
  • Free FICO® Credit Score online and on monthly statements.*
  • 5% cash back at gas stations on up to $1,500 in purchases from July through September 2014 when you sign up*. 1% cash back on all other purchases automatically.*
  • 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.
  • U.S.- based customer service--anytime, day and night.
  • *See rates, rewards, free FICO® Credit Score terms and other info by clicking “Apply.”
Overall Rating
Editor Rated
Consumer Rated
  • Simon Zhen's Profile Image

    By Simon Zhen, Jan 9th 2013

    Editor Rating

    The Discover “it” card has a plethora of consumer-friendly features that make it such a great card for anyone who is searching for a credit card with no annual fee, low interest rates and a great cash back rewards program.

    Equipped with a laid-back fee structure, Discover it appears very appealing to consumers who fear the wrath of credit card penalty fees. Cardmembers don’t pay a late fee for the first late payment and such an infraction will not lead to an increased APR.

    Add on fee-free foreign transactions and you also get a card that frequent overseas travelers would love to have in their wallets.

    The Discover it card also comes with an improved cash back program (compared to the company’s popular Discover More cash back credit card). Cardmembers earn 5% cash back on certain categories per quarter, subject to a quarterly cap. And, cardmembers earn 1% cash back on all other purchases.

    With a decent fee structure and attractive cash back program, it very likely that you’ll find plenty to boast about with the Discover it card.

    Pros Cons
    Up to 5% cash back Possibility for a high APR
    Lenient fee structure
    One-time account number generator

    Annual fee

    Many of Discover’s credit cards do not carry an annual fee. Intended as a “game changer,” neither does the Discover it card.

    Other fees/charges

    Discover it touts a lenient fee structure. Cardmembers don’t pay a late fee for their first late payment and there is no fee for spending past your credit limit (doesn’t mean that you should though).

    For the forgetful cardmembers, Discover won’t impose a penalty APR when there is a late payment. With most other credit cards, the penalty APR is around 29.99%.

    Like all its other cards, Discover does not impose a foreign transaction fee on the “it” card. Cardmembers who travel internationally will not have to worry about hefty fees for using their Discover card on their trips.

    Interest rates

    The regular APR for the Discover it card is 10.99% to 20.99%, which is a fairly large range. With a good credit score, you could land a low APR of 10.99%, which is better than many credit cards that offer rewards or cash back. But with a tarnished credit history, you could end up with a pricey 20.99% APR.

    Rewards/Perks

    Discover it has a cash back program similar to that of the Citi Dividend and Chase Freedom cards. Cardmembers get 5% cash back on purchases in certain categories, which change on a quarterly basis. Discover does place limits on the spending on these categories (limits vary from quarter to quarter). In addition, cardmembers have to enroll for this bonus cash back every quarter, which can be a tedious chore to some.

    All other purchases earn 1% cash back.

    The cash back can be used to redeem for cash, merchandise, gift cards or charitable donations.

    Discover lets you spend your cash back balance at Amazon.com, but it would be wiser to charge your credit line because you earn cash back on the purchases (you don’t earn cash back if you use cash back on an Amazon purchase).

    Misc.

    Discover offers a feature-packed mobile application that lets you manage all your Discover accounts. Cardmembers can redeem their cash back for electronic gift codes through the mobile app and use them at a retailer immediately.

    Through your online account, you can generate secure online account numbers that can only be used at one retailer to help reduce online fraud.

    The Discover it card has a bill payment cutoff time at midnight on the due date, unlike most credit cards that set the deadline at 5 p.m.

    (Disclosure: MyBankTracker was not compensated for the publishing of this review. However, MyBankTracker does receive compensation for successful signups through affiliate link.)

    The Breakdown

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