Discover it® - 18 Month Balance Transfer Offer

Editor's Choice: Rewarding Balance Transfer Card


Cash Back Rating:

Overall Rating:

(1,258 applications)

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In a Nutshell:

Amazing choice for balance transfers AND rewards: only card with 18 months 0% intro APR on balance transfers AND serious cash back. Each quarter, there are rotating major spending categories like gas, restaurants, wholesale clubs, and even Purchases in these categories will earn you 5% cash back, and then when Discover doubles your total cash back earned in the first year, that effectively doubles to 10% back. All other purchases will earn you 1% cash back, which turns into 2% at the end of your first year with Discover's Cashback Match™.

Full Review

Make no mistake, the Discover it® - 18 Month Balance Transfer Offer, our Editor’s Choice for rewarding balance transfer card, is all about the balance transfer features…until you realize it also is all about earning more cash back. This is a combo we haven’t seen before, and it makes it a compelling choice for anyone looking to save on interest now and still earn rewards later.

Discover recently extended the 0% APR intro offer on balance transfers to an industry leading 18 months. This makes it a powerful weapon for you to pay off your credit cards. It does charge a balance transfer fee of 3%, so be sure to factor that into your savings calculations. However, 3% for nearly two years of interest-free payments is a deal we definitely recommend, especially if you’re currently paying typical credit card interest rates on your balance.

Meanwhile, the card takes major spending categories, including gas stations, restaurants,, wholesale clubs and more, and rotates them through a 5% cash back calendar. When you activate the category, you'll earn the full 5% cash back on any spending in the category during that quarter, up to the spending maximum. The cap is $1,500 per quarter for the bonus categories, but you can always earn 1% cash back on any other spending you do using the card, with no limits or caps.

During the first year, Discover will add up all the cash back you earn, then double it at the end of the year. That means that you'll earn an astounding 10% back on all the eligible category spending you do, and an industry leading 2% back on all other spending with no limits or restrictions.

Beyond the incredible 0% intro offer on balance transfers and the cash back rates, the Discover it® provides several other features we found to be useful and unique. The first time you are late on a payment, they won’t charge you a fee and there is no penalty APR, so paying late won’t raise your APR. If you ever misplace your card, you can log in to your account through the app or online and turn your card off to prevent new purchases. While in your account, you can see your FICO® Credit Score for free. Discover has also created an integration with Amazon that we found to be convenient. At checkout, you can have the option of paying with your points rather than a card, which makes redeeming points feel more real, and very easy.

Beyond all the rewards and features, Discover users simply like the service (which is always live, and always staffed by a US customer service rep for anyone calling from the US). Discover received the highest customer loyalty ratings of any credit card issuer for 20 consecutive years.

Fees and APR

  • No annual fee.
  • 0% Intro APR: 0% Introductory APR for 18 months on balance transfers, then 11.99% – 23.99% Variable.
  • Purchase 11.99% – 23.99% Variable
  • Balance Transfer Fee: 3%

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This content is not provided by Discover. Any opinions, analyses, reviews or recommendations expressed here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Discover.