Discover it Balance transfer

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What are the fees associated with the Discover it Balance Transfer Card?

Annual subscription : nothing.
Balance transfer fees: introduction fee of 3% and later 5% of the amount of each transfer.
Cash advance fees: or $ 10 or 5% of the amount of each advance, whichever is greater.
Foreign transaction fees: nothing.
Late payment fees: nothing the first time you pay late, then up to $ 40.
Returned payment: up to $ 40.

How to Maximize Rewards with the Discover it Balance Transfer Card

The Discover it Balance Transfer card earns 5% cash back up to a quarterly limit on purchases in rotating categories you activate, such as grocery stores, restaurants, and gas stations. For all other purchases, and when you reach the quarterly spending limit, the card gives you 1% cash back. Discover also matches any cash back rewards you’ve earned at the end of your first year.

Cash Back Rewards never expire and can be used for any amount at any time. You can redeem money as a statement credit or deposit to your bank account, use it for purchases on Amazon and PayPal, get gift cards, or donate to charities.

If you need to switch to a rewards program that better matches your spending habits, your rewards balance will be transferred to your new Discover card. You will not lose any rewards.

If you spend cash back rewards on airline miles, you will receive 1 mile for every penny you earn. A $ 30 cash bonus, for example, would convert to 3,000 miles.

Comparisons with other credit cards

Annual subscription : Neither card charges an annual fee.

Awards: These cards have the same reward structure. You can earn 5% cash back up to the quarterly limit on rotating categories you activate, such as grocery stores, restaurants, and gas stations. For all other purchases, and when you hit the quarterly maximum, these cards give you 1% cash back.

Registration bonus: For both cards, Discover is all of the cash back rewards you’ve earned at the end of your first year.

Advantages: The main difference between these cards is the length of the introductory period at 0% APR. The Discover it Balance Transfer card offers 0% APR for 18 months for balance transfers and six months for purchases, and Discover it Cash Back offers 14 months for both. Otherwise, both cards charge no overseas transaction fees and give you free access to your FICO score.

Annual subscription : Neither card charges an annual fee.

Awards: The Discover it Balance Transfer card earns 5% cash back up to the quarterly limit in rotating categories, such as grocery stores, restaurants and gas stations. When you reach the quarterly spending limit, and for all other purchases, the card gives you 1% cash back. The US Bank Visa Platinum Card does not have a rewards program.

Registration bonus: Discover is all of the cash back rewards you’ve earned at the end of your first year. The US Bank Visa Platinum Card does not offer any signup bonus.

Advantages: The Discover it Balance Transfer card offers 0% APR for 18 months for balance transfers and six months for purchases. But the US bank’s Visa Platinum card charges no interest for 20 billing cycles on balance transfers and purchases. You’ll get free access to your FICO score and avoid overseas transaction fees with the Discover it Balance Transfer card. The US Bank’s Visa Platinum card offers up to $ 600 of cell phone protection if you pay your cell phone bill with the card and the ability to choose a payment date that fits your schedule.

Should you get the Discover it Balance Transfer Card?

  • Need 0% APR over 18 months to pay off debt or finance a major purchase.
  • You want to earn 5% cash back in quarterly rotating categories.
  • Prefer a card that does not charge an annual fee.


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