Headquartered in Illinois, Discover is one of the most well-established credit card brands in the US, with its products allowing customers to earn rewards, build credit, and reduce interest on existing debts. The lender was ranked #1 for brand loyalty in the credit card category of the Customer Loyalty Engagement Index in 2021 and named in 2020’s Investor Business’s Most Trusted Financial Companies list.
In addition to conventional credit card services, it offers several attractive features to help you manage your finances. If you’re concerned about identity theft, for example, Discover will provide you with free access to your FICO credit score on your monthly statements, mobile or online.
As Discover offers a wide range of products, the most suitable card for you will depend on your borrowing needs. Here are some of the most popular products and the type of customers they could suit.
Discover it® Miles: allowing you to earn to 1.5 miles for every dollar of spending, this card could be an excellent choice for frequent flyers
Discover it® Chrome®: paying 2% cashback on spending at gas stations and restaurants, this card is a strong match for borrowers with a busy social life
Discover it® Cash Back: offering 5% cashback on selected purchases, this card could be attractive for those keen to earn rewards on their spending
Discover it® Student Cash Back: with 5% cashback on selected purchases, this card could be an ideal choice for borrowers looking to earn rewards while studying
Discover it® Student Chrome: offering the chance to earn rewards and build credit, this card could be suitable for students seeking to create a strong financial foundation
Discover it® Secured: designed to help build credit, this product is specifically tailored toward those looking to repair damaged credit
Discover it® Balance Transfer: waiving interest for 18 months when you transfer an existing debt, this product could be attractive to borrowers looking to get on top of their finances
Whichever card you choose, the lender could also be an excellent solution for tech-savvy customers, with its app allowing you to manage your finances on the go.
If you sign up for a Discover Card, you won’t pay an annual fee, but the following interest rates and fees will apply.
Product | Interest rate | Fees |
---|---|---|
Discover it® Miles Discover it® Chrome Discover it® Cash Back NHL® Discover it® | 0% introductory APR for 14 months on purchases and balance transfers, then 11.99%-22.99%* Cash advances: 24.99% * | Balance transfer: 3% of the amount you transfer before Sunday, April 10 2022, then 5% Cash advances: $10 or 5% of amount borrowed No late payment fee after first missed payment, then $40 Returned payment: up to $40 |
Discover it® Student Cash Back Discover it® Student Chrome | 0% introductory APR on purchases for 6 months and 10.99% on balance transfers, then: 12.99%-21.99% * Cash advances: 24.99% * | Balance transfer: 3% of the amount you transfer before Sunday, April 10 2022, then 5% Cash advances: $10 or 5% of amount borrowed No late payment fee after first missed payment, then $40 Returned payment: up to $40 |
Discover it® Secured | 22.9% on purchases * 10.99% on balance transfers for 6 months, then 22.9% * Cash advances: 24.99% * | Balance transfer: 3% of the amount you transfer before Sunday, April 10 2022, then 5% Cash advances: $10 or 5% of amount borrowed No late payment fee after first missed payment then $40 Returned payment: up to $40 |
Discover it® Balance Transfer | 0% introductory APR for 6 months on purchases, then 11.99%-22.99%* 0% introductory APR for 18 months on balance transfers before Sunday, 10 April, then 11.99%-22.99%,* Cash advances: 24.99%* | Balance transfer: 3% of the amount you transfer before Sunday, April 10 2022, then 5% Cash advances: $10 or 5% of amount borrowed No late payment fee after first missed payment then $40 Returned payment: up to $40 |
* APR will vary with the market and is based on the Prime Rate (the interest rate banks charge their most creditworthy borrowers)
The Cash Back, Student Cash Back, and Chrome cards pay 5% on purchases from retailers such as Amazon, grocery shops, and gas stations, as well as any spending through PayPal. You can earn up to a maximum of $1500 per quarter.
With the Student Chrome, Secured, and Chrome cards, you earn 2% cash back on up to $1000 of purchases made in gas stations and restaurants, including cafés, takeaway, and deliveries.
If you’re a hockey fan, the NHL® Discover it® card offers rewards such as 5% discounts at grocery stores and on gym memberships. You can earn up to a maximum of $1500 per quarter.
With each of these cards, you’ll also earn up to 1% cashback on all other purchases.
Aimed toward regular travelers, the Discover it® Miles card pays 1.5 miles for every dollar of spending, which can then be redeemed for cash or as a credit towards your next travel purchase.
Whichever card you choose, Discover’s 2x Match service will also pay an unlimited dollar-for-dollar match on all cashback you earn during the first year.
Participating retailers offering cashback at enhanced rates alternate on a quarterly basis, so you should check Discover’s website for up-to-date offers.
You can apply for a Discover card online or over the phone if you meet the following requirements:
Before you apply, you can check whether you would be pre-approved by entering details such as your name, address, total gross annual income, and Social Security number into the lender’s online tool. You’ll then see the APR and offers you could potentially qualify for.
If you’re applying for the Secured Card, you’ll need to provide a refundable security deposit when you apply. The amount of this deposit will become your credit limit.
Discover doesn’t have a minimum score requirement as it will review your credit score as part of your overall financial situation. However, you’re likely to need a good or excellent score if you’re applying for a high-paying rewards card.
In most cases, you’ll receive an instant decision on your application, although this could take longer if the lender needs to verify any of the information in your application.
Once your card has arrived, you can activate it online or by contacting Discover’s customer services.
You can contact Discover’s US-based agents through online chat or over the phone, with its telephone service being available in both English and Spanish.
When we contacted the company over online chat, we received an extremely polite and helpful response in under 5 minutes.
Phone hours: 24/7
Online chat: 24/7
Discover has numerous cybersecurity measures to protect your money and your data, which include the following:
The lender’s $0 Fraud Guarantee will also ensure that you never lose out financially if there are any unauthorized transactions on your account.
In one particularly attractive feature, you can subscribe to receive free alerts if your Social Security number is found on any of the Dark Web sites Discover monitors daily.
The lender will also allow you to freeze your account if you temporarily misplace your card.
Can I choose the design of my card?
Yes, you can choose from a selection of card designs via your online account for no additional cost. If you’re applying for an NHL® Discover it® card, you can also choose a design that is themed around any of the 31 NHL teams.
Does Discover have an app?
Yes, you can download Discover’s app via the App Store or Google Play. Its features allow you to redeem rewards, set alerts, and view your FICO score.
Can I withdraw cash with my Discover card?
Yes. To set up your card for this service, you’ll need to call customer services to receive a PIN. Alternatively, you can present your card and a photo ID at a bank or credit union to get cash.
If you’re planning on taking out a new credit card, there is a strong chance that Discover will have a product to suit you. We were particularly impressed by its generous cashback offers of up to 5% and the 18-month interest-free period on the Discover it®: Balance Transfer, which will allow you to avoid interest on existing debt. As well as providing 24/7 customer service, the lender offers an impressive array of bank-level security features such as its $0 fraud guarantee scheme.
This review was compiled using the information on Discover’s website and by contacting its agents through online chat.