Discover Card Options

Allison Martin
Discover it card

Discover offers credit card options that allow cardholders to earn cash back on purchases. They also have business credit cards with generous incentives that help organizations save big on common expenses.

Discover it Credit Card

If you are looking for a card that has forgiving terms, the Discover it Credit Card is worth considering.

Pros

This credit card enables consumers to reduce debt balances and get back on track financially without paying interest as a result of the 0% introductory APR for the first fourteen months. Once the promotional period period lapses, the interest rate ranges from 10.99% to 22.99%. However, reviewers from Credit Karma mentioned that a phone request was often all it took to be granted a lower interest rate. In addition, reviewers stated that the customer service staff was always a pleasure to work with when issues arose, such as billing discrepancies and suspected fraudulent activity.

Beverly Harzog, a credit card expert, also noted that the card was a preferable option for consumers looking for a credit card that offered rewards along with a a safety net because it offers 5% cash back and has a "forgiving nature" with regards to late payments.

Cons

Unfortunately, if you have less than perfect credit, you may not qualify for the Discover it Credit Card. In addition, the credit card does not offer a cash back bonus for signing up.

Jason Steele of Money Talks News also pointed out in a review that the spending cap of $1,500 imposed on the purchases eligible for 5% cash back only enables you to earn $300 per year (or $75 each quarter).

Discover it for Students

The Discover it for Students is a very popular credit card that offers more competitive incentives than comparable products on the market.

Pros

As long as the balance is paid in full each month to avoid interest, this credit card is a great option for students to start building their credit. In addition, cardholders are able to take advantage of the benefits that Discover offers and the cash back program without paying an annual fee.

Cons

In order to cash in rebates, you must have earned at least $20. Those who prefer to receive cash in lieu of products must have a rebate balance of $50 or more. Katrina Gutierrez of Daily Markets mentioned in a recent review that these redemption options are less favorable for students with limited card activity.

Discover it Incentives

Both the standard and student version offers cardholders 5% cash back on select purchases (based on a quarterly schedule) and 1% on all other transactions. In addition, the first late payment is not assessed a fee and a penalty APR never applies. Other perks include:

  • 60-second application decision
  • $0 annual fee
  • Flexible due dates
  • Little or no APR after job loss
  • U.S.-based customer service
  • Plenty of redemption options at Amazon

Business Credit Cards

The Discover business credit card offers cash back or mileage perks, depending on organizational preferences. Options include:

  • Discover Business Card offers 5% cash back on first $2,000 in office supplies and 2% on first $2,000 in gas purchases and 5-20% through the exclusive online mall.

Pros

Not only do the Discover business credit cards have a generous rewards system, but they also give cardholders the opportunity to enjoy discounts available through merchant partners. In addition, companies with multiple employees can request additional cards free of charge and have the ability to manage their account online.

Cons

The review from Ask Mr Credit Card mentioned that the the spending cap placed on the cash back offers was substantially lower than that of competitors. Therefore, those who purchase an extensive amount of office supplies and gasoline will be limited to the amount of rewards that they can earn regardless of expenditure levels.

Other Cardholder Benefits

Benefits offered to all Discover members include:

  • $0 fraud liability
  • 90 day coverage on damaged or stolen goods valued up to $500
  • Extended 1-year product warranty
  • Refund of returned goods valued at $500 or less for up to 90 days
  • Refund of price variance if the goods are purchase at a lower price within 90 days of the initial transaction

Selecting a Discover Card

Before making a selection, be sure to carefully review the terms and conditions of the Discover card for which you plan to apply.

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Discover Card Options