Bank Loan
7+ Best Discover Credit Cards with Offers!
bankcreditrates.com
At BankCreditRates, our mission is to assist you in making informed financial choices. We are committed to upholding rigorous editorial standards. Please note that this article may make mention of financial products offered by our trusted partners.
Discover is an online bank providing various credit cards tailored to qualifying consumers. These cards come with perks like no annual or foreign transaction fees. Some of the best Discover credit cards offer cash back on spending, and users can enjoy an unlimited cash-back match at the end of their first year.
Discover stands out by offering cards designed for students or individuals with less-than-ideal credit. What is unique is the option for hockey fans to personalize their cash back cards with the logo of their favorite NHL team.
This article guides you through the best Discover credit card options for 2024, highlighting rewards, annual percentage rates (APR), and more.
Contents
Best Discover Credit Cards for You!
Discover it® Cash Back
The Discover it® Cash Back card is an excellent choice for big spenders and those who can maximize its 5% cash-back categories. In the first year, rewards are doubled, making it a lucrative option.
- Rewards: Users earn 5% cash back on everyday purchases at different places each quarter, up to a quarterly maximum of $1,500 when activated. Additionally, there’s an automatic unlimited 1% cash back on all other purchases.
- Welcome Offer: Discover automatically matches all the cash back earned at the end of the first year, with no minimum spending or maximum rewards.
- Annual Fee: $0
- Other Benefits and Drawbacks: The card historically covers popular categories like restaurants, drug stores, grocery stores, gas stations, and Amazon. It offers a 0% introductory APR for 15 months on purchases and eligible balance transfers, followed by a standard variable rate of 17.24% – 28.24%. There is a balance transfer fee of up to 5% of the amount transferred.
Discover it® Miles
The Discover it® Miles card is an alternative for those who prefer earning miles instead of traditional cash back. Miles earned with this card are equivalent to cash, with 1 mile being worth 1 cent.
- Rewards: Users earn 1.5 miles for every dollar spent on any purchase.
- Welcome Offer: Discover provides an unlimited match of all the miles earned at the end of the first year.
- Annual Fee: $0
Other Benefits and Drawbacks:
The card offers a 0% introductory APR on purchases and balance transfers for the first 15 months from account opening. Following that, a variable APR of 17.24% – 28.24% applies.
A balance transfer fee, up to 5% of the amount transferred, is applicable. As it earns miles at a flat rate, this card is suitable for individuals who prefer a straightforward rewards structure without the need to track bonus spending categories.
Discover it® Student Cash Back
The Discover it® Student Cash Back is tailored for students who have limited or no credit history, closely resembling the features of the Discover it® Cash Back card.
- Rewards: Students can earn 5% cash back on everyday purchases in rotating categories such as grocery stores, restaurants, gas stations, and more, up to a quarterly maximum when activated. Additionally, they automatically earn unlimited 1% cash back on all other purchases.
- Welcome Offer: The card features the Unlimited Cashback Match™ by Discover, automatically matching all the cash back earned at the end of the first year, with no minimum spending or maximum rewards.
- Annual Fee: $0
Other Benefits and Drawbacks:
Besides the rewards and Cashback Match, the Discover it® Student Cash Back provides a 0% introductory APR on purchases for the initial 6 months.
After that, a standard variable purchase APR of 18.24% – 27.24% applies. This makes it a suitable choice for students looking to build credit while enjoying cash back rewards.
Discover it® Chrome
The Discover it® Chrome card may suit a specific group—those who frequently embark on road trips and lack access to cards with better gas spending rewards. While it won’t yield substantial cash back, it could be a viable option for some.
- Rewards: Cardholders can earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Additionally, they receive unlimited 1% cash back on all other purchases.
- Welcome Offer: Featuring the Cashback Match™ by Discover, the card automatically matches all the cash back earned at the end of the first year.
- Annual Fee: $0
Other Benefits and Drawbacks:
The Discover it® Chrome provides a 0% introductory APR for the initial 15 months on purchases and eligible balance transfers. Following this period, a standard variable rate of 17.24% – 28.24% applies.
Note that a balance transfer fee of up to 5% of the amount transferred may apply. This card could be a reasonable choice for those who prioritize gas and restaurant spending.
Discover it® Secured Credit Card
The Discover it® Secured Credit Card is a prime choice for individuals aiming to establish credit history. While requiring a deposit (which equals the cardholder’s credit limit), it stands out by offering commendable rewards without an annual fee.
- Rewards: Cardholders can earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Additionally, they receive unlimited 1% cash back on all other purchases.
- Welcome Offer: Featuring an Unlimited Cashback Match™, Discover automatically matches all the cash back earned at the end of the first year.
- Annual Fee: $0
Other Benefits and Drawbacks:
After seven months, Discover will assess your account for a potential upgrade to an unsecured account. This card is a valuable option for those seeking to build or rebuild their credit.
How can you make most out of the Discover Credit Cards?
For individuals seeking fee-friendly options with rewards, Discover credit cards emerge as a solid choice. With no annual fees, forgiveness on first late payments, no penalty APRs for tardiness, and no foreign transaction fees, these cards provide cost-effective solutions. Users can also benefit from Discover’s rewards bonuses and receive a complimentary FICO® score on monthly statements, aiding in credit monitoring.
However, it is essential to note that Discover cards might not have universal acceptance worldwide. In certain countries, merchants may rarely accept or not accept Discover cards at all.
Prospective travelers are advised to verify acceptance with Discover before their journey and are recommended to carry alternative payment methods when abroad.
While Discover cards offer excellent value domestically, those planning international travel might consider alternative cards from networks like Visa or Mastercard, which are more widely accepted abroad and offer various options with no foreign transaction fees.
Conclusion:
Discover provides a range of credit cards featuring simple rewards and no annual fees. Whether one’s credit profile is strong or needs improvement, there is likely a Discover card that fits. Despite the appealing options, it is advisable for individuals to compare multiple cards from various issuers before making a decision. Exploring cards from different sources ensures finding the best match for specific needs and preferences.
Nicole Hughes is a credit card and loan expert content writer based in New York. With a knack for simplifying financial jargon, she creates informative and reader-friendly content. Her work empowers individuals to make informed decisions regarding credit and loans, ensuring financial well-being.
FAQs
Discover credit cards stand out for offering a variety of options with no annual fees and easy-to-earn rewards. They cater to a diverse range of consumers, including students and those with less-than-ideal credit.
The Discover it® Cash Back card allows users to earn 5% cash back on rotating categories each quarter, up to a quarterly maximum of $1,500 when activated. Additionally, users receive automatic unlimited 1% cash back on all other purchases.
While Discover cards provide cost-effective solutions domestically, their acceptance may be limited internationally. It’s advisable for travelers to check with Discover before their journey and consider carrying alternative payment methods for foreign travel.
The Discover it® Secured Credit Card is suitable for those aiming to establish credit history. It requires a deposit equal to the credit limit and offers 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, along with unlimited 1% cash back on all other purchases.
Discover provides cardholders with a complimentary FICO® score on their monthly statements, aiding in credit monitoring. This feature allows users to track their credit health and take necessary actions to improve their financial standing.
Well, you’re required to make at least the minimum payment set by your credit card company each month. If you want, you can choose to pay a bigger amount or clear the entire balance.
