Discover it Balance Transfer Benefits Guide Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Introduction to the Discover it Balance Transfer Credit Card Advertiser Disclosure
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: ilkercelik/Getty Images April 29, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Margaret has written for Money Under 30, MoneyGeek, The Simple Dollar, CreditCards.com, Interest.com and Fiscal Tiger, among other publications. She writes about subjects including saving, credit, insurance, investing and other financial topics. Liz Bingler is an Associate Editor for CreditCards.com and Bankrate, where she focuses on product news and reviews. As an editor, her goal is to produce content that will help people to make informed financial decisions. Brady Porche is an editorial director for Bankrate Credit Cards and CreditCards.com. He has two decades of professional experience as a writer and editor. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you're well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate logo Editorial integrity
Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. The is a one of the to consider if you’re looking to pay down debt by taking advantage of a card’s intro APR period. Plus, it offers rewards and other benefits that balance transfer cards don’t typically offer. In this guide, we’ll cover the main benefits of this card, along with whether or not it may be right for your wallet. Discover it Balance Transfer card benefits
The Discove it Balance Transfer card comes with more earning opportunities and benefits than most balance transfer cards, such as: 0% intro APR offers
One of the most enticing features of this card is its 0 percent APR for balance transfers for the first 18 months after opening an account. The card also includes a 0 percent APR offer on purchases for the first six months. These intro offers allow cardholders to to pay down debt or else finance a big purchase without having to worry about accruing interest for a period of time. After the intro APR offers expire, the card has a variable APR of 14.99 percent to 25.99 percent. No annual fee
Unlike some rewards credit cards, the Discover it Balance Transfer card comes with no annual fee. That makes it a good fit for a variety of cardholders, no matter how large or small their budget is. Rewards rate
The card offers 5 percent cash back on rotating categories each quarter (on up to $1,500 in quarterly purchases, then 1 percent; activation required). All other purchases earn 1 percent cash back. That way, no matter what you’re buying, you’ll earn some cash back with each purchase. These rewards rates differentiate the Discover it Balance Transfer card from other balance transfer credit cards, which tend not to offer rewards of any kind. Plus, your rewards will never expire, and you can redeem rewards for any amount at any time (except for gift cards, which require a minimum rewards balance to redeem). Cash back match welcome offer
you earn for a full calendar year after opening your account. There’s no minimum spending requirement (common with other welcome offers) and no limit to the amount that you can earn. Free FICO score access
Cardholders can also access their free FICO score in order to keep tabs on their credit. This score is available in your online Discover account. This can be a great way to quickly and easily keep track of where your score is as you work to improve it. Security features
The Discover it Balance Transfer card comes with several safety features to help protect your account. For example, the Freeze It feature allows you to freeze new purchases, balance transfers and cash advances. The Identity Alert program will monitor your personal information and alert you if your Social Security number is found on a malicious website or if a new credit inquiry or account is listed on your Experian credit report. Plus, you can receive a free overnight replacement card if your card is lost or stolen. Great customer service
Discover customers have access to U.S.-based customer service 24/7. According to the 2021 J.D. Power U.S. Credit Card Satisfaction Study, among credit card providers in customer satisfaction, just a few points behind American Express. No penalty APR
Another nice feature of this card is that it has no penalty APR. If you miss a payment, you won’t be hit with a higher APR as a result. No late payment fees for first offenses
The Discover it Balance Transfer doesn’t charge a late payment fee for your first missed payment. But after that, there’s a missed payment fee of up to $40. No foreign transaction fees
This card, like all , doesn’t charge a foreign transaction fee. This makes it a good choice if you travel internationally. Maximizing the Discover it Balance Transfer card
There are a few ways you can maximize the rewards and benefits that come with this card: Take advantage of the cash back match
One of the most lucrative benefits of this card is the cash back match offer for the first year. The more you spend using this card, the greater the rewards you’ll earn. Although you shouldn’t spend more than you’ve budgeted, the more you use this card on everyday expenses, the more rewards you’ll reap. For example, if you earn $300 in rewards during your first year of card membership, you’ll earn an extra $300 in cash back match at the end of the year, for a total of $600 in rewards. Pay attention to the 5% cash back categories
It’s a good idea to monitor in order to make the most out of your rewards. Past categories have included grocery stores, fitness clubs, gas stations, restaurants, Target and Amazon. Make the most of the intro APR offers
Make the most of the 0 percent intro APR offer for balance transfers and purchases. Whether this means transferring a balance from another card to pay down debt or else financing a significant purchase, the intro period allows cardholders to take control of their finances without worrying about accumulating interest. Just keep in mind that once the intro period is over, you’ll need to start paying a variable APR of 14.99 percent to 25.99 percent on any remaining balances. The bottom line
Like many balance transfer credit cards, the Discover it Balance Transfer is a bit more bare-bones when it comes to perks like travel or shopping benefits. But if you’re looking to pay down debt and earn plenty of rewards, the Discover it Balance Transfer card is a . SHARE: Margaret has written for Money Under 30, MoneyGeek, The Simple Dollar, CreditCards.com, Interest.com and Fiscal Tiger, among other publications. She writes about subjects including saving, credit, insurance, investing and other financial topics. Liz Bingler is an Associate Editor for CreditCards.com and Bankrate, where she focuses on product news and reviews. As an editor, her goal is to produce content that will help people to make informed financial decisions. Brady Porche is an editorial director for Bankrate Credit Cards and CreditCards.com. He has two decades of professional experience as a writer and editor.