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Discover it® Balance Transfer Review: One of the Best Balance-Transfer Cards

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If you have credit card debt you want to pay off faster, the Discover it® Balance Transfer may be the solution for you. Thanks to a lengthy intro APR period for balance transfers and a lucrative rewards program, this card offers a lot of upfront value and ongoing rewards that ensure it stays at the top of your wallet. Uncover if this card is right for you with our Discover it® Balance Transfer review.

Rating image, 5.00 out of 5 stars.
5.00 stars
Info Icon Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Credit Score:
Good/Excellent (670-850) Info Icon Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Intro APR

Purchases: 0%, 6 months

Balance Transfers: 0%, 18 months

Regular APR

14.99% - 25.99% Variable APR

Rewards Info Icon Circle with letter I in it. 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically

1% - 5% Cashback

Annual Fee

$0

Welcome Offer Info Icon Circle with letter I in it. Discover will match all the cash back you’ve earned at the end of your first year.

Cashback Match

  • Get the best of both balance transfer and cash back worlds with this card. Not only do you get a great intro APR on balance transfers, but you also get a rich cash back program.

    • Great intro APR offer
    • Sign-up bonus offer
    • Robust cash back program
    • No annual fee
    • FICO® Score for free
    • No fixed bonus categories
    • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
    • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
    • NEW! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
    • Every $1 you earn in cash back is $1 you can redeem.
    • No annual fee.
    • Click "Apply Now" to see terms and conditions.

Full Discover it® Balance Transfer review

This credit card is a good fit for: Consumers who want to pay off debt more quickly and at a lower cost with a long intro APR balance transfer offer.

Top perks

0% intro APR offer

This card offers a 0% intro APR for 18 months on balance transfers. The go-to variable rate applies after the 0% intro APR expires. That's one of the longest intro periods you'll find, even among the best balance transfer cards. If you're currently dealing with credit card debt, the Discover it® Balance Transfer gives you plenty of time to pay it down interest free during the intro period. This card also offers a 0% intro APR on purchases for six months. The go-to variable rate applies after the 0% intro APR expires.

To learn more about how these cards are used, read our guide on how a balance transfer works.

Earn up to 5% cash back

Some balance transfer cards are light on rewards but that's not the case with the the Discover it® Balance Transfer. Cardholders earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum of $1,500 on purchases and when you activate. Other purchases earn 1% cash back.

Read more: Best Rewards Credit Cards

Unlimited Cashback Match sign-up bonus

Discover will automatically match all the cash back you’ve earned at the end of your first year. This sign-up bonus is only available during the first year and for new cardholders, but it can be particularly lucrative sign-up bonus since the match is unlimited. For example, if you max out its quarterly bonus categories and earn $300 in rewards in the first year, you'd receive another $300 to match it. Read more about the Discover cash back calendar to find out how it works.

Learn more: Best Sign-Up Bonus Credit Cards

FICO® Score for free

While there are many free services that show you your credit score, few show you a real FICO® Score. Since the FICO® Score is the credit score that's most widely used by lenders to make decisions on everything from credit cards to car loans and mortgages, it's helpful to have access to this.

No minimum rewards redemptions

An underrated perk of Discover credit cards is that they have no minimum threshold for cash-back redemptions. You could redeem as little as $0.01. Other cash-back cards have stricter minimum redemption amounts, such as $25.

Read our complete guide to Discover credit card benefits to learn more about what these cards offer.

Alternatives to consider

  • If you want a longer 0% intro APR for purchases: The Discover it® Cash Back packs in a 0% intro APR for purchases and balance transfers for 15 months. The go-to variable rate applies after the 0% intro APR expires. This card also includes the same robust rewards program and sign-up bonus.
  • If you want a higher unlimited cash back rate for purchases: The Citi® Double Cash Card – 18 month BT offer matches Discover's 0% intro APR for 18 months on balance transfers. The key difference is that it can earn 2% back on purchases (1% back when you buy, and the other 1% back when you pay off balances).

Read more: Best Cash Back Credit Cards

As of Oct. 04, 2022
Image for
Image for
Discover it® Cash Back Citi® Double Cash Card – 18 month BT offer
Rating image, 5.00 out of 5 stars.
5.00 stars
Info Icon Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 5.00 out of 5 stars.
5.00 stars
Info Icon Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees

Credit Rating Requirement:

Good/Excellent (670-850) Info Icon Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Credit Rating Requirement:

Good/Excellent (670-850) Info Icon Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Welcome Offer: Welcome Offer info Discover will match all the cash back you’ve earned at the end of your first year.

Cashback Match

Welcome Offer: Welcome Offer info Earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening.

$200 cash back

Rewards Program: Info Icon Circle with letter I in it. 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically

1% - 5% Cashback

Rewards Program: Info Icon Circle with letter I in it. 2% cash back: 1% when you buy plus 1% as you pay

Up to 2% cash back

Intro APR:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Intro APR: Intro APR Tooltip N/A

Purchases: N/A

Balance Transfers: 0%, 18 months

Regular APR:

14.99% - 25.99% Variable APR

Regular APR:

16.99% - 26.99% (Variable)

Annual Fee:

$0

Annual Fee:

$0

Highlights:

  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • NEW! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Every $1 you earn in cash back is $1 you can redeem.
  • Get a 0% intro APR for 15 months on purchases. Then 14.99% to 25.99% Standard Variable Purchase APR applies, based on credit worthiness.
  • No annual fee.
  • Click "Apply Now" to see terms and conditions.

Highlights:

  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • For a limited time, earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 16.99% - 26.99%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Apply Now for Discover it® Cash Back

On Discover's Secure Website.

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What could be improved

Balance transfer fee

You'll pay a 3% intro balance transfer fee and a 5% fee for transfers after that intro period (see terms). Although balance transfer fees are common, it'd be nice to see Discover do the same.

Find the best credit card for your needs

Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

Suggested credit score

To apply for the Discover it® Balance Transfer, it's best to have a credit score of 670 or better. Other factors are also considered during the credit application process, so there's no guarantee a high score will secure approval. But if you have a lower credit score, you may want to apply for a card with a shorter 0% intro APR period, since this credit card isn't intended for credit scores below good.

Learn more: How to Qualify for Discover Pre-Approval

This credit card is right for you if:

Balance transfer cards aren't for everyone. However, if the following statements apply to you, Discover it® Balance Transfer should make your short list of cards worth applying for:

  • You have good credit. Discover it® Balance Transfer offers a long 0% intro APR period, so it is designed for people who have few, if any, blemishes on their credit report. If your only credit problem is having high balances on other cards, Discover it® Balance Transfer is a good choice.
  • You want a card to keep after the balance transfer intro period. Even without the balance transfer offer, the Discover it® Balance Transfer card has lucrative credit card rewards. Its rotating bonus categories make it a favorite among cash-back card users.

If you want to compare more options, head over to our list of the best credit cards to see what else is out there.

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