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Discover Credit Cards
When looking for a Discover card, it's important to know exactly what you are going to find. Discover is heralded by many as the inventor of the cashback rewards program. In fact, almost every single Discover credit card to this day allows you to earn cashback on purchases. When you couple this with the fact that most of them carry 0% terms on both balance transfers and purchases, they are very good stand alone forms of plastic, or supplements to other cards you may carry in your wallet.
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- 0% intro APR on purchases and balance transfers for 15 months, then the variable standard purchase APR of 10.99% - 20.99%*
- 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
- Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S.-based Account Manager within 60 seconds
- $0 Fraud Liability plus mobile and email fraud alert options
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
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Intro APR
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Intro APR Period
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APR
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Annual Fee
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Balance Transfer
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Minimum Credit Required
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0%*
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15 months on purchases & balance transfers*
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10.99% - 20.99% (Variable)*
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None*
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Yes*
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Excellent
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| Discover® More Card - 18 Month Promotional Balance Transfer |
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- 0% intro APR on purchases for 6 months, then the variable standard purchase APR of 10.99% - 20.99%*
- 0% intro APR on balance transfers for 18 months, then the variable standard purchase APR of 10.99% - 20.99%*
- 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S.-based Account Manager within 60 seconds
- $0 Fraud Liability plus automatic mobile and email fraud alert options
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
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Intro APR
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Intro APR Period
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APR
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Annual Fee
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Balance Transfer
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Minimum Credit Required
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0%
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18 months on Balance Transfers; 6 on Purchases*
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10.99% - 20.99% (Variable)*
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No*
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Yes*
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Excellent
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Best Discover Card
This is sort of a difficult subject to address because unlike most issuers, Discover products don't vary too much from product to product. The biggest difference usually lies in the general appearance or card art of the card. This is not a bad thing. Because of the strength of the cashback rewards programs and the company's dilligence in providing balance transfer and purchase rates that are just as attractive as those from the elite products of other banks, if you are applying for any card from Discover, you are most likely getting a good deal if you enjoy earning cashback.
Of course there are different variations on the common theme, cashback, in the form of incentivized products like gas, service station purchases, etc. The main focus is still on keeping it simple: spend this amount, get a percentage back. There are airline cards as well which are very similar to general points based programs. Still we feel that if you elect to carry a card from Discover, that you do so with the intent of earning cashback. From a consumer standpoint, this in our eyes is the most beneficial.
We particularly have a fondness for this network based on the way they treated consumers during the economic downturn that started a few years ago. Since then, and during the "recession" that crippled the finances of many Americans, Discover remained strong and continued to offer their products when other issuers pulled back. Additionally, the level of complaints across many leading financial portals were much lower and less astonishing than those of their competitors. This strengthened both their positions with their current cardholders as well allowed them to grow by giving themselves more exposure to consumers who heavily relied on short term loans to get them through the tough times.
Discover is also a great place to turn if you are a student and are interested in building your credit history. Many of the products for college and university students have lower interest rate structures than those of their competitors. This holds true especially for their elite pricing applicants. They also understand that students need credit to survive, something that the US Government apparently doesn't. Their student portfolio consists of 0% cards with rewards and they have set the standards to a point where they are both in compliance with the paternal rules imposed by the government while allowing credit lines to be opened without too much red tape. An example of this is that most of their credit cards geared toward college students require a base annual income of $2000. This is extremely attainable and it allows students who either have part time or full time jobs in the summer months to obtain credit that they have the means to pay-off if they are responsible. This is the way it should be.
Whether a consumer or student there is a good option in the Discover portfolio. When identifying the best Discover has to offer, look at the interest rates, the terms of the rewards program, especially if it is cashback, and make sure that it coincides with your lifestyle and spending habits. This holds true especially with promotional deals. As with any financial loan, whether it be from Discover or any other bank, first and foremost shop based on the interest rate as this is the attribute that directly impacts your financial health.
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