Discover It Balance Transfer Credit Card

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Discover It Balance Transfer Card

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  • The reward rates can be quite high, depending on how you use the card.
  • The introductory offer gives you 0% APR for up to 18 months, depending on how you use your Discover it Balance Transfer Card.


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  • The introductory offer gives you 0% APR for up to 18 months, depending on how you use your Discover it Balance Transfer Card.
  • The fees on the Discover it Balance Transfer Card is low compared to a lot of other options you can choose from.


Discover It Balance Transfer Card Summary

The Discover it Balance Transfer is a credit card by the Discover brand. The card provides several benefits for people who are looking to make large balance transfers but also offers additional features like the ability to make purchases with the card. There is a 0% APR on the card during the first 18 months on any balance transfer that you conduct. Purchases will start to incur interest fees following the first six-month period.


PROS:
  • The introductory offer gives you 0% APR for up to 18 months, depending on how you use your Discover it Balance Transfer Card.
  • The fees on the Discover it Balance Transfer Card is low compared to a lot of other options you can choose from.
  • The reward rates can be quite high, depending on how you use the card.

CONS:
  • No flat rate rewards, making it harder to keep track.
  • Relatively short introductory purchase period.


Best Features

The top feature that you get with the Discover it Balance Transfer Card would definitely be the introductory offer. The introductory promotion that the Discover brand has on gives you 0% APR on purchases you make with the card during the first six months. For an additional one-year period of the introductory purchase offer expires, you still get 0% APR on Balance Transfer transactions.

The card also gives you an opportunity to perform balance transfers without having to sacrifice rewards. This is a huge benefit, as many balance transfer cards and accounts tend to cut away the rewards part. You continue to receive rewards on every transaction you perform with the card.

There are also no annual fees on the card. You only pay relatively low transaction fees for every time you use the card, whether that may be for a balance transfer or for purchasing an item. There is a 5% cash advance fee, as well as a balance transfer fee that depends on certain factors but will vary from 3% up to 5%. There are no foreign transaction fees charged when using the card abroad, which is another great feature that not a lot of the other cards out there are able to offer.


Drawbacks

As with any card offer, there are sure to be a couple of drawbacks with the Discover it Balance Transfer option. The first issue that seems to be an issue is the fact that the 0% APR introductory offer that is provided on purchases made with the card is short. There are some companies that are able to provide such an offer for as long as a year. With the Discover it Balance Transfer card, you only get this offer for six months. After that, the interest rate that is applied to your purchases can be high.

The interest rate is also not fixed. It varies between 14.24% and 25.24%. This makes it hard to budget for the interest that might be charged on the transactions that you will be making.

Discover is also known to be a problematic type of card when traveling across the globe. Even in the United States, coverage for these cards may still be limited.


Overall Summary

The Discover it Balance Transfer card offers great value for anyone who will be doing balance transfer transactions and wants to earn rewards at the same time. The card also comes with an attractive introductory offer. Interest fees charged on the card following the introductory period does seem to be relatively high. Coverage for this type of card may also be limited in some locations.


Who this card is best for

The Discover it Balance Transfer Card is an ideal option for anyone who is looking to make Balance Transfers on their card. The card allows you to make these transactions without the need to give up earnings that you might be gaining. Earnings continue to pile up, even with the use of Balance Transfers on this particular card. The card is also a great option if you are looking for an opportunity to save on interest rates and annual fees.


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