Discover it® Balance Transfer Review

Our Detailed Review of This Card

Apply for This Card

When it comes to balance transfer credit cards, it's hard to beat the Discover it® Balance Transfer card. That's because this card not only offers an 18-month 0% APR on balance transfers, but it also offers significant cash back rewards. It's also ranked as the top card for customer satisfaction by J.D. Power in it's 2018 study. The best part is that these terrific benefits and rewards are available to those with average to excellent credit (usually considered to be a credit score above 670)!

Those paying high interest rates on their current credit card will love the card's 18-month 0% intro APR, as it will give you ample time to pay off the balance. While Discover it® Balance Transfer comes with a 3% balance transfer fee, this one-time fee is likely a lot lower than your current credit card's interest, meaning you'll still save money in the long run. Additionally, cardholders also receive a 0% purchase APR for the first 6 months of card ownership.

As if the 0% intro APR opportunities weren't enough, the Discover it® Balance Transfer card offers some top-notch cash back rewards. You'll earn 5% cash back on rotating categories each quarter you activate (up to the quarterly maximum, currently $1,500, then it's 1% back) and 1% cash back on all other purchases. Although you're required to activate the 5% rewards every quarter, Discover will remind you when it's time to do so. Plus, earning cash back on rotating categories allows you to earn rewards on a variety of purchases throughout the year, giving you some unique rewards potential. For example, categories for 2018 include gas stations and wholesale clubs from January to March, grocery stores from April to June, restaurants from July to September as well as Amazon.com and wholesale clubs from October to December.

On top of these great ongoing rewards, Discover will match all the cash back you've earned at the end of your first year as a new cardholder. So if you earned $300 in the first year, Discover will match that to give you a total of $600 back! This means you're earning an effective 10% back on rotating categories for the first year! Although this is a one-time bonus that only happens in your first year, it's still a great feature that we haven't seen offered by other rewards cards.

Discover it® Balance Transfer's 0% intro APR periods and cash back rewards aren't the only impressive aspects of the card, as it also offers some through added perks. To start, cardholders will receive a free TransUnion FICO® Score on their monthly statement, a handy way to keep aware of any changes or updates to your TransUnion credit report. Next, the card's Discover Freeze it® feature lets you temporarily lock or unlock your card from your computer or smartphone, preventing new purchases, balance transfers and cash advances. Yet another great feature is the free identity theft protection service Discover provides, which monitors your TransUnion credit report for misuse of your social security number and any new accounts opened in your name.

If you often travel outside the U.S., you'll appreciate the Discover it® Balance Transfer card's $0 foreign transaction fees, which usually costs 3% to 5% of every transaction made overseas. What's more, the card has no annual fee, no overlimit fees and there is no late fee on your first payment.

The Discover it® Balance Transfer card is the perfect pick for anyone in the market for a card with an 18-month 0% intro APR on balance transfers and the ability earn some very generous ongoing cash back rewards, meaning it's a card you'll want to keep your wallet long after the 0% intro APR expires.


    Rewards
    • Discover will automatically double all the cash back you've earned at the end of your first year. This offer is only for new cardmembers.
    • Earn 5% cash back in rotating categories each quarter up to the quarterly maximum (currently $1,500) each time you activate.
    • Earn 1% cash back on all other purchases, with no limit on how much you can earn.

    Redeem Rewards
    • Rewards are redeemable in any amount at any time.
    • Deposit into your bank account or credit your Discover card account.
    • Pay for your Amazon.com purchases with cash back rewards. $1 cash back = $1 at checkout.
    • Turn your cash rewards into more when you redeem with Apple Pay or for gift cards or eCertificates from over 100 brand-name Partners.

    Fees and APR
    • Annual Fee: $0
    • Foreign Transaction Fee: None.
    • Purchase APR: 0% APR for the first 6 months, then 13.99% - 24.99% Variable, depending on creditworthiness.
    • Balance Transfer APR: 0% Intro APR for 18 months, then 13.99% - 24.99% Variable, depending on creditworthiness.
    • Balance Transfer Fee: 3% of the amount of each transfer.
    • Terms and Conditions


    Apply for a Discover it® Balance Transfer card

    If you have a question or concern we haven't answered on our site, please let us know. Due to volume, we aren't able to respond to every question, but we answer as many as we can.




    About Us Blog Contact Us Terms & Privacy Policy Site Map
    Copyright© 2006 - 2018 NextAdvisor.com - All rights reserved.

    Advertiser Disclosure: NextAdvisor is a consumer information site that offers free reviews and ratings of online services. Many of the companies whose services we review provide us compensation when someone who clicks from our site becomes their customer. This is how we make money to support our site. The results of our analyses, calculators, reviews and ratings are based on objective quantitative and qualitative evaluation of all the cards on our site and are not affected by any compensation NextAdvisor may receive. Compensation may impact which products we review and write about and where those products appear. We do not review all products in a given category. All opinions expressed on this site are our own.

    Advertisement