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  Discover it Balance Transfer

Discover it Balance Transfer

in Personal Credit Cards from Discover Bank

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Discover it Balance Transfer

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in Personal Credit Cards from Discover Bank

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Highlights
Purchase APR  (Variable APR) 11.99% - 22.99%
Balance Transfer APR  (Variable APR) 11.99% - 22.99%
Credit Score Range 650 - 850
Annual Fee $0

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.

Key Takeaways
  • 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.
  • 5% Balance transfer fee. Discover it Balance Transfer charges a fee of 5% on balance transfers. For example, a balance of $1,000 could cost $50 in transfer fees.
  • Fair or better credit required. You will have good approval odds if your credit score is above 650.
Pros & Cons of Discover it Balance Transfer
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.
  • Discover it Balance Transfer reports to multiple credit bureaus.
  • Does not offer a signup bonus.
  • Does not offer rewards or cash back.
  • Charges a 5% balance transfer fee. After the introductory period, the fee is 5% .
Discover it Balance Transfer FAQ

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
  • Reports to major credit bureaus

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%. It also has a variable cash advance APR of 24.99% .

The good news is this card does not charge a penalty APR if you are late on a payment.

Does Discover it Balance Transfer have an intro APR offer on balance transfers?

Yes, it offers an intro APR rate on balance transfers of 0% for a period of up to 14 months.

Discover it Balance Transfer Balance Transfers
Description
Balance Transfer Fee % After Intro Period 5%
Balance Transfer Introductory APR 0%
Balance Transfer Intro APR Period 14 months
Balance Transfer APR 11.99% - 22.99%
Balance Transfer Fee % 5%

Does Discover it Balance Transfer have an intro APR offer on new purchases?

Discover it Balance Transfer Purchase Intro Offer
Description
Introductory Rate 0%
Purchase Intro APR Period 6 months

This card does offer an intro APR rate of 0% on qualified purchases for a period of up to 6 months.

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.

What is the customer service phone number for Discover it Balance Transfer?

The Discover it Balance Transfer customer service number is (800) 347-2683.

What is the support contact email for Discover it Balance Transfer?

The support contact email for Discover it Balance Transfer is service@email.discover.com.

Does Discover it Balance Transfer report your account activity to credit bureaus?

Yes, Discover it Balance Transfer reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Introductory Rate 0%
Purchase Intro APR Period (Variable APR) 6 months
No Annual Fee
No Foreign Transaction Fee
Annual Fee $0
Cash Advance Fee Minimum $10
Cash Advance Fee (%) Up to 5%
Minimum Cash Advance Fee ($) Starting at $10
Minimum Interest Charge $0.50
Returned Payment Fee Up to $40
Late Fee Amount Up to $40
Customer Type Personal
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 650 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Free Credit Score
  • Identity Theft Protection
  • Fraud Liability
No Reward Expiration Period
Rewards Categories
  • 5% Cash Back on Amazon Purchases up to $1500 quarterly
  • 5% Cash Back on Gas up to $1500 quarterly
  • 5% Cash Back on Groceries up to $1500 quarterly
  • 5% Cash Back on Restaurants up to $1500 quarterly
Cash Advance APR (Variable APR) 24.99%
Balance Computation daily balance (including new transactions)
Penalty APR (Variable APR) 0%
Purchase APR (Variable APR) 11.99% - 22.99%
Balance Transfer Fee % After Intro Period 5%
Balance Transfer Introductory APR (Variable APR) 0%
Balance Transfer Intro APR Period (Variable APR) 14 months
Balance Transfer APR (Variable APR) 11.99% - 22.99%
Balance Transfer Fee % 5%
Card Type
  • Balance Transfer
Card Network Discover

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