Review
Updated
Fact Checked
Nathan Alderman
Offer Status
This card is no longer available from the issuer, and as such, some details may be out of date. Visit our Best Credit Cards page for current offers.
Discover's lineup may be full of popular consumer cards, but it also offers the Discover it® Business Card for business owners. This card has all the great perks Discover is known for, including a competitive cash back rate, few of those frustrating credit card fees, and a lucrative sign-up bonus. Find out everything you need to know about the Discover it® Business Card in our review.
Alternatives to consider:
This Discover card is no longer available, so here are other cards we recommend.
- If you want to earn higher rewards: Consider the Ink Business Cash® Credit Card, which offers 5% cash back on up to $25,000 worth of purchases every year at office supply stores and on certain utilities, 2% cash back on up to $25,000 at gas stations and restaurants, and 1% cash back on other purchases.
- If you want a simple, higher-yielding rewards program: The Capital One Spark 2% Cash Plus card (see rates and fees) offers an unlimited 2% cash back on purchases. You'll also earn a valuable sign-up bonus. There is, however, a $150 annual fee.
As of Apr. 16, 2024
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| Ink Business Cash® Credit Card |
Capital One Spark 2% Cash Plus |
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Rating image, 4.50 out of 5 stars.
4.50/5
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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= Fair = Poor |
Rating image, 5.00 out of 5 stars.
5.00/5
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 |
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Apply Now for Ink Business Cash® Credit Card
On Chase's Secure Website. |
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Credit Rating Requirement:
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.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Credit Rating Requirement:
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.
Recommended Credit Score required for this offer is: Excellent (740-850)
Excellent (740-850) |
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Welcome Offer: Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. Earn up to $750 bonus cash back |
Welcome Offer: Earn a one-time cash bonus of $1,200 once you spend $30,000 in the first 3 months $1,200 |
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Rewards Program: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. Earn 5% cash back in select business categories |
Rewards Program: 2% cash back |
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Intro APR: 0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A |
Intro APR: Purchases: N/A Balance Transfers: N/A |
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Regular APR: 18.49% - 24.49% Variable |
Regular APR: Pay in full, 2.99% monthly late fee otherwise |
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Annual Fee: N/A $0 |
Annual Fee: $150 |
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Highlights:
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Highlights:
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Apply Now for Ink Business Cash® Credit Card
On Chase's Secure Website. |
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Capital One Spark 2% Cash Plus is unavailable on The Ascent. All information was collected independently and not reviewed for accuracy or provided by the credit card issuer. Some items may be out of date.
Full Discover it® Business Card review
This credit card is a good fit for: Business owners interested in earning cash back while avoiding common credit card fees.
Top perks
Unlimited 1.5% cash back
This card earns 1.5% back on purchases, a rate that's in line with several of the best cash back 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 since the match is unlimited. For example, if you spent $50,000 in year one, you'd earn $750 in cash back, and then Discover would add another $750.
This is one of the more unique sign-up bonuses we've seen, and it has the potential to earn you a lot back.
No annual fee
There's no annual fee for this card, so it won't add to your business expenses.
Read more: Best No Annual Fee Credit Cards
0% intro APR on purchases
The Discover it® Business Card offers a 0% intro APR on purchases for the first 12 months. The go-to 12.99% - 20.99%, variable rate applies after the 0% intro APR expires. If you're just starting or expanding your business and you need short-term financing, this card is a smart choice. You can buy what you need and pay it off without incurring interest for a year. And if you haven't quite paid off the entire balance at the end of the year, your cash back bonus could help with that.
Learn more: Best 0% APR Credit Cards
Free employee cards
You can issue up to 50 employee credit cards and earn the same 1.5% back on your employees' business spending. Discover also lets you set spending limits on your employee cards, which is a good security measure to ensure that no one else can max out your credit line.
No late fee on the first missed payment
Discover doesn't charge you a late fee the first time you miss a payment. To be fair, most credit card companies will waive your first late fee as a courtesy, but it's nice that Discover does this automatically and saves you a phone call.
No foreign transaction fee
Like all Discover credit cards, this card doesn't charge a foreign transaction fee. If you travel internationally or buy from merchants outside the United States, you won't need to worry about paying extra.
No cash back redemption minimum
You can redeem your cash back at any time, even with as little as $0.01. While this may not be the most exciting perk, it's more convenient than needing to wait until you've reached a redemption minimum.
See more options: Best Cash Back Business Credit Cards
What could be improved
Bonus categories
There aren't any spending categories where you'll earn bonus cash back with the Discover it® Business Card. This is a small quibble, considering all the card's benefits. But if your business spends quite a bit in one particular category, it's worth checking out business credit cards that earn bonus rewards in certain spending categories.
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
The Discover it® Business Card is aimed at business owners with good to excellent credit -- ideally, a FICO® score of 670 or higher.
Since this is a business credit card, you need a business to apply for it. According to Discover, you must have 100% ownership of a business that's more than one year old to be approved. Note that you can be eligible for a business card even if your business is a sole proprietorship or a side hustle.
The Discover it® Business Card is right for you if:
You'll love having the Discover it® Business Card if you want to keep things simple and use one cash back card for all your business expenses. With its unlimited cash back and the sign-up bonus, this card is a great choice for a one-card wallet. It's also ideal for minimizing fees, since it doesn't charge an annual fee, foreign transaction fee, or fees for extra employee cards. In addition, you get your first late fee waived.
Although the Discover it® Business Card doesn't have any glaring flaws, there are credit cards that could earn more back for big spenders. If your business spends over $2,000 to $3,000 per month or it spends a lot in specific categories, you should look for a business card with a higher cash back rate, even if it means paying an annual fee.
Our credit card methodology
At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.
FAQs
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The minimum starting credit limit for the Discover it® Business Card is $500. It's possible to be approved for a much higher credit limit depending on your income and overall creditworthiness.
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To be approved for a Discover it® Business Card, your business must be at least one year old. You'll also need to own 100% of the business. If your startup meets those requirements, then it's eligible for this Discover card.
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Yes, you can use the Discover it® Business Card internationally, and it doesn't charge a foreign transaction fee.
Our Credit Cards Experts
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
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Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Lyle Daly has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase and Target. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.
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