Discover card, like American Express, is both a credit card network and an issuer of the credit card. (Visa and Mastercard are exclusively card networks and do not offer cards to the general public.) Discover is the most recent one of four main card networks within the U.S. and has grown to become the sixth-largest issuer of cards based on the number of accounts in circulation and outstanding balances. We’ve analyzed the most well-known Discover cards to choose the top ones in each category, such as cashback rewards and balance transfer, travel miles students, and a secured card.
Table of Contents
- 1 What Is a Discover Card?
- 2 Best Discover card in August 2022
- 3 The types that Discover credit card
- 4 How can I Compare Discover credit cards?
What Is a Discover Card?
The Discover Card is a credit card issued by Discover Bank, one of four major U.S. payment processing networks. Discover cards give cash back and travel rewards to cardholders through qualifying purchases. Additionally, there is no annual charge.
Discover cards are widely accepted alongside Visa, Mastercard, and American Express, and they always top surveys of satisfaction with consumers.
Best Discover card in August 2022
Discover it® Balance Transfer
If you’re looking for a way to streamline your financial situation and purchase an account with introductory APR on balances transferred for 18 months in the case of it(r) Balance Transfer card from Discover, it(r) Balance Transfer credit card may help reduce a balance.
Transfer the highest interest rate balance first to prevent the accrual of interest charges and to pay off your balance as fast as feasible during the 18-month introduction period. Once you’ve paid off the balance, you transferred, and you can earn cashback of 5% (up to a maximum of quarterly every time you sign up) on a range of purchases that change every quarter. In addition, every other purchase is eligible for 1% cashback indefinitely.
Categories of bonuses include grocery purchases as well as gym memberships, Amazon purchases, and restaurants, in addition to other categories. Be aware that cardholders have to enable the cashback 5% category every quarter.
Discover it® Cash Back
Discover it(r) Cash Back card is perfect for those who want an easy-to-learn welcome bonus that does not require a minimum amount of spending and the potential to earn cashback through different bonus categories rotating.
With the Discover it(r) Cash Back program, you can earn up to five percent cashback per quarter at various locations, including restaurants, grocery stores, gasoline stations, selected rideshares, and online purchases, up to the maximum quarterly at the time you sign up. In addition, you earn unlimited percent cashback on other purchases.
Discover it® Student Cash Back
The Discover it(r) Credit Card for Students gives cashback rewards for students who make purchases in the most common categories such as grocery stores, gas stations, restaurants, rideshares that you choose to use as well as online shopping, up to the maximum quarterly limit at the time you sign up. In addition, if you’re a student, you can utilize this card to maximize your purchases in categories that rotate with a cashback of up to 5% and 1% on other purchases.
With the Discover it(r) Student Cash Back program, benefit from the cashback you earn at various places every quarter, such as food stores, restaurants, gas stations, certain rideshares, and online shopping, until you reach the maximum amount for each quarter when you are enrolled. Discover’s a tool for spending that lets you know the whereabouts of your cash and helps you make better choices about spending. Get 5% cashback on periodic categories that rotate quarterly after activation up to the quarterly maximum and one percent cashback on all other categories you instantly spend money on.
Discover it® Secured Credit Card
The Discover it Secured Credit Card is an excellent choice for those seeking to improve their credit score, as it is reported the information to each of the three credit agencies. You’ll also have access to a no-cost FICO score via your Discover account, allowing you to keep track of your improvement.
Like other security-based cards, The Secured Credit Card requires a security deposit to secure the collateral. This serves as credit limits. The minimum amount is $200. The security deposit you make is refundable, and Discover also offers you the opportunity to upgrade to an unsecured card.
What’s unique with this credit card? First, it comes with rewards, which are quite uncommon for a secured card. You’ll receive 2% cash back on up to $1,000 worth of purchases at restaurants, gas stations, and other establishments every quarter (then 1 percent) in addition to cashback of 1% on any other purchase.
Discover it® Chrome Gas & Restaurants
This Discover it Chrome credit card can be the most obvious option for the Discover card, which offers the highest reward earnings on dining out and gas as its reward structure has been specifically designed to be favoritism for these frequent spending categories. The cashback offer on first-year earnings is a nice bonus with this card that is free of charge for those who love food and frequent driving.
Discover it® Miles
This Discover it(r) Miles credit card was designed ideal for people who do not wish to be restricted due to a limited number of choices for redemption, charges, or expiration dates for blackouts. The card can provide both long-term and short-term value with a one-year expiration date, unlimited mile match, and a high reward rate.
After completing the first year, Discover will match all miles you’ve earned on autopilot. For instance, 35,000 miles turn to 70,000. The more miles you earn, the greater the amount Discover matches it.
It is possible to exchange miles for cash or travel credit on this Discover it Miles card. The card is worth more than a standard travel rewards card with a fixed rewards rate ideal for everyday purchases and travel expenses.
The types that Discover credit card
Discover offers a wide credit card selection; each comes with useful reward points for purchases that can be exchanged for credit on your statement or cash. Additionally, benefits for Discover cardholders are offered on all cards. Each card, however, is unique that offers perks specific to cardholders.
Cash back reward cards
Most Discover’s credit cards provide cash back rewards; however, how you earn these rewards differs based on the particular card. Cash back rewards are redeemable in various ways:
- In the form of cash to your bank account
- In the form of a statement credit, you can pay off your balance on your card
- Check out with the retailer of your choice
- Gift cards can be purchased from certain retailers
- A donation to eligible charitable organizations.
Certain Discover cards offer rewards that rotate and offer cashback at 5% for up to $1500 purchases within the bonus category currently. Unfortunately, the bonus categories change every period, so you’ll have to activate your bonus category in order to receive the 5% back. However, it is possible to see the current year’s bonus categories by referring to the Discover cash back calendar.
Alongside the rotating reward cards, Discover offers a variety of cards with static bonus categories. These cards can earn rewards at a flat rate with fixed categories that provide the best types of everyday purchases.
Travel rewards cards
Discover offers one card that is marketed as a travel reward card. It’s called Discover it(r) Miles. Discover it(r) Miles that can earn unlimited miles for purchases. Miles can be exchanged in many ways, such as to pay cash or as a credit on your statement to cover expenses related to travel with the Discover card. You’ll get $0.01 per mile each time you redeem your reward points.
While some Discover cards aren’t designed to function as travelers’ credit cards, every Discover card in the line-up has a 0% charge for foreign transactions. This means you can use your preferred Discover card while traveling without worrying about fees for foreign transactions on purchases made in foreign currencies.
Secured credit cards
Discover is among the top secured credit cards you can get and comes with uncommon perks for secured cards. For example, it doesn’t charge any annual fees and also does not charge foreign transaction fees. Additionally, you can get rewards on purchases, which is rare in the market for secured cards.
Security deposit requirements are low and refundable and determine you up with a credit line. Discover will begin assessing your performance after eight months, and those who qualify may be automatically upgraded to an unsecured credit card. You can also monitor your credit score for the duration of the period with the Free month-long FICO(r) Score.
Balance transfer cards
Discover offers a credit card designed specifically for balance transfers, called (r) Balance Transfer. This card gives a long introduction 0% intro APR on balance transfer. Additionally, it comes with an intro deal on the balance transfer cost. The interest rate will return to your normal variable APR when the period of intro expires.
Although they are not specifically advertised as a transfer option, several others Discover credit cards come with a zero APR intro offer for balance transfers. Also, you can cut down on the cost of interest on new purchases because most Discover cards offer an initial 0% APR on purchases.
Student cards for students.
Discover provides not just one but two distinct student credit cards for students. The Discover student credit cards are designed to aid college students begin building credit. They do not have credit scores or credit history requirements to be eligible.
You won’t have to pay any charges to establish an account or make annual payments to keep the account open. In addition, each Discover credit card holder can earn cashback reward points on purchases made in the new year, as well as the kind of rewards is different based on the student card you choose.
How can I Compare Discover credit cards?
If you examine credit card deals by Discover all comes down to two major aspects:
Your credit score
Your reward requirements
If you’re a credit-worthy person with a credit score, you should focus more on the rewards you’d like to get. You’ll have to decide whether you’d prefer rotating bonus categories with a greater reward rate or static categories with a lower rate.
If you’re looking to establish credit, there are several options. First-time cardholders students ought to pick one of two Discover student cards. These cards differ in the kind of rewards you can earn (rotating bonus category as opposed to. the static category of bonus). If you’re not a student and want to establish credit, then you can choose Discover’s secured credit card.