Discover it® Balance Transfer Review

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Our Detailed Review of This Card

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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% intro 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 its 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 6-month 0% intro purchase APR.

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 quarterly categories (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 2019 include groceries from January to March; gas stations, Uber and Lyft from April to June; restaurants from July to September; as well as 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 (up to the quarterly maximum) 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 that the Discover it® Balance Transfer card charges no 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.


  • 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 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 14.24% - 25.24% Variable, depending on creditworthiness.
  • Balance Transfer APR: 0% intro APR for 18 months, then 14.24% - 25.24% Variable, depending on creditworthiness.
  • Balance Transfer Fee: 3% of the amount of each transfer.
  • Terms and Conditions
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Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.