Discover it Balance Transfer Review

This is a credit card issued by Discover Bank. If you're wondering whether Discover it Balance Transfer is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.

• Generous reward rate. You will get a cashback rewards rate of up to 5%.
• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 14 months, which is longer than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 6 months.
• Competitive APRs. Discover it Balance Transfer has a variable purchase APR that ranges from 11.99% up to 22.99%.
• No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. Discover it Balance Transfer charges a fee of 3% on balance transfers. After the introductory period, the fee is 5%. For example, a balance of $1,000 could cost $30 in transfer fees.
• Good or better credit required. You will have low approval odds if your credit score is below 700.

The Good

The Bad

Cashback Match. No purchase minimums. After the first 12 consecutive billing periods that your new account is open, you will match all of the cash back rewards you've earned and apply them to your account in the following one or two billing periods. Lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 14 months. 0% APR on new purchases during the first 6 months. No annual fee. Free access to your credit score. Identity Theft Protection.

Requires good to excellent credit. Does not offer a signup bonus. Does not offer rewards or cash back. Does not report to credit bureaus. Charges a 3% balance transfer fee. After the introductory period, the fee is 5% .

Does Discover it Balance Transfer have a cash back or rewards program?

No, it does not offer a rewards program.

What are the Discover it Balance Transfer benefits?

It provides the following benefits:

• Free Credit Score
• Zero fraud liability

What are the relevant APRs for Discover it Balance Transfer?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. It has lower than average regular APRs.

It has a variable purchase APR that ranges from 11.99% up to 22.99%. The card has a variable balance transfer APR that ranges from 11.99% up to 22.99%.

What are the fees for Discover it Balance Transfer?

The following fees apply:

Discover it Balance Transfer Fees

Fees	Amount
Annual Fee	$0
Returned Payment Fee	up to $40
Late Payment Fee	up to $40

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost card.

How to apply for Discover it Balance Transfer

• Visit the Discover it Balance Transfer website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.