Using a credit card has become second-nature for most Americans. Who carries cash, anymore? But thanks to the popularity of plastic, fraud has flourished. Ten percent of all U.S. citizens have been a victim of credit card fraud, according to the Department of Justice. Worldwide, it's a crime valued at more than $5.5 billion. With so much money at...
|Signing Promotion||Great For: Saving money on large balance transfers|
|Annual Fee||10.99% – 22.99%* Variable|
|Intro APR Promotions||
- Fair. No annual fee. No overlimit fee. No foreign transaction fee. Plus, pay up to midnight ET online or by phone on your due date without a fee. No late fee on your first late payment. And paying late won't raise your APR.*
- Generous. 5% cash back on up to $1,500 in purchases for Online Shopping through December 2013 with free and easy sign-up. And 1% cash back on all other purchases.*
- Human. 100% U.S.-based customer service available any time.
- Safe. Because you're never responsible for unauthorized purchases with our $0 Fraud Liability Guarantee.
- Plus, free FICO® Credit Score on your monthly statement to help you stay on top of your credit.*
- 0% Intro APR* on balance transfers for 18 months. Then the variable purchase APR applies, currently 10.99% - 22.99%. A fee of 3% applies for each balance transferred.
- 0% Intro APR* on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% - 22.99%.
- *Click “Apply" to see rates, rewards free FICO® Credit Score terms and other information.
Excellent Credit Needed
- 0% APR on balance transfers for 18 months
- Excellent customer service
- Robust rewards program
- No annual, foreign transaction, or overlimit fees.
- Above average credit score typically needed
- $1,500 cap on 5% cash-back categories
The Simple Dollar’s Review
Discover has had a long history of offering credit cards with excellent terms, and the Discover it® card is just another such example. The greatest draw of this card, obviously, is its balance transfer promotion. For 18 whole months, this Discover it® card offers a 0% APR on balance transfers, whereas the industry standard for balance transfer promos is typically 12 months.
More than being just another “balance transfer” card, Discover it® with the 18 month balance transfer offers a surprisingly generous rewards program — 5% cash-back on quarterly rotating categories that include home improvement, gas, groceries, etc., and 1% cash-back on all other purchases. There is, however, a $1,500 cap on the 5% cash-back categories.
Other advantages of the Discover it® card include a surprising lack of fees — no annual fee, no foreign transaction fee, and no overlimit fee. What’s more, the fees on your first late payment will be waived, and your APR will not go up after paying late. All in all, this particular Discover it® card is an excellent choice among balance transfer cards, not just because of the long promotional period on balance transfers, but also because it’s so versatile.
Before you finalize that credit card application, stop to read the fine print. Remember, credit card companies are businesses first and foremost. No matter how customer-friendly they are, their prime objective is to make a profit. Part of the way they do that is through fees. Does your credit card charge any fees you don’t know about? The answer may...
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