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Discover It Balance Transfer is a credit card for consumers who want to consolidate debts and save interest.
Offering an introductory 0% interest rate on balance transfers for 18 months and 0% on purchases for 6 months, cardholders can reorganize their finances and manage large expenses without incurring additional fees during the promotional period.
This card is not only excellent for balance transfers, but also includes an attractive rewards program of 5% cashback on category changes (with activation) and 1% on all other purchases.
The cashback you accumulate doubles in the first year. This is an exclusive benefit offered by Discover. With no annual fee and no additional benefits, the
Discover It Balance Transfer combines savings and advantages, making it a convenient and affordable option for consumers looking to organize their finances and earn money while they spend.
Discover It Balance
5% cash back No annualHow Discover It Balance works?
The main attraction of the Discover It Balance Transfer is the 0% introductory APR on balance transfers for 18 months.
During this period, cardholders can transfer balances from other cards to consolidate debts and avoid interest charges.
Once the introductory offer expires, a variable effective annual interest rate will come into effect, ranging from 17.24% to 8.24% depending on the cardholder’s credit profile.
In addition, this card offers APR 0.00 on purchases for 6 months, allowing the cardholder to make large purchases without paying interest for the initial period.
This rewards program includes 5% cashback on rotating categories (grocery stores, gas stations, restaurants, etc.) that change quarterly, with a quarterly spending limit of $1,500.
You will receive unlimited cashback on purchases outside these categories. Discover automatically doubles your accumulated cashback in the first year, making the program even more beneficial for new users.
Main benefits of Discover It Balance
One of the main benefits of the Discover It balance transfer is the 0% introductory APR on balance transfers for 18 months.
This is one of the longest offers on the market and is perfect for those looking to consolidate debts and save interest.
The points program is also a big draw, offering 5% cashback on category changes and 1% cashback on all other purchases. This card is an especially good deal for new cardholders, as it doubles your repayments in the first year.
It’s also an annuity-free card, so you can enjoy the benefits without having to pay any fixed fees. Discover also offers fraud protection, free access to your FICO score and 24/7 customer service to enhance the user experience.
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Cons of Discover It Balance
Despite its benefits, Discover It Balance Transfer has some limitations. The 5% refund on rotating categories requires quarterly activation and is limited to $1,500 in spending per quarter.
This can be a drawback for consumers who prefer automatic and unlimited benefits.
Finally, Discover is not widely accepted outside the United States and use of the card is limited to consumers who shop abroad or travel frequently.
APR and fees
Discover It Balance Transfer is one of the best introductory services. We offer a balance transfer offer, 0.00 euros. 18 months and 0.00 euros on purchase for 6 months.
The variable annual percentage rate after these periods varies from 17.24% to 8.24% depending on the customer’s credit history.
The card has no annual fee, so it is economically advantageous. However, balance transfers during the promotional period will incur a fee of 3% of the amount transferred.
There are no foreign transaction fees on purchases made abroad with this card. This is a plus point for occasional travelers. However, Discover acceptance may be limited outside the United States.
How to apply for the Discover It Balance
To apply for a Discover It balance transfer, interested parties can visit the official Discover website and fill out the online application form.
This process requires basic information such as name, address, annual income and financial history.
Once approved, a physical card will be sent to your registered address, while a digital version can be used immediately for online purchases or through digital wallets such as Apple Pay or Google Pay.
The card is managed via the Discover app, which offers features such as transaction tracking, checking accumulated cashback balances and free FICO score monitoring.
To make the most of the benefit, cardholders must activate the 5% quarterly tier and schedule balance transfers for 0 APR during the quarter.
