Discover It Balance – How to Apply
Need help managing debt while earning rewards? The Discover it® Balance Transfer could be the right fit.
This card is designed with balance transfers in mind, offering a long 0% intro APR period that can give you breathing room to pay off high-interest credit card debt.
At the same time, it rewards your spending with cash back and even matches all the rewards you earn at the end of your first year.
Let’s take a closer look at how the Discover it Balance Transfer card works, what makes it unique, and what you should consider before applying.
Discover It Balance
No Annual Fee 3–5% balance transfer fee appliesHow does the Discover it Balance Transfer work?
The Discover it Balance Transfer is a dual-purpose card. On one hand, it offers a 0% introductory APR on balance transfers for 18 months, allowing cardholders to transfer debt from higher-interest cards and pay it down without interest during the intro period.
There is a 3% intro balance transfer fee, which goes up to 5% for transfers made later.
On the other hand, the card also functions as a cash back rewards card, offering 5% cash back on rotating quarterly categories (on up to $1,500 in purchases per quarter, once activated) and 1% back on all other purchases.
Categories have included things like grocery stores, gas stations, restaurants, and Amazon.com.
What makes this card stand out even more is the Cashback Match®, where Discover automatically matches all the cash back you earn during your first year—effectively doubling your rewards.
Main benefits of Discover it Balance Transfer
This card comes packed with valuable features, especially for those trying to pay off debt and earn rewards at the same time:
- 0% intro APR on balance transfers for 18 months — Great for tackling credit card debt without interest pressure.
- 5% cash back on rotating categories — Earn higher rewards on everyday purchases by enrolling each quarter.
- 1% unlimited cash back on all other purchases — Keep earning even when spending outside the bonus categories.
- Cashback Match at end of first year — Discover doubles the total cash back you earn in your first 12 months.
- No annual fee — Keep costs low while enjoying premium features.
- Free FICO® credit score monitoring — Helpful for staying on top of your financial health.
- Fraud protection and $0 liability — Discover alerts you of suspicious activity and protects against unauthorized purchases.
These features make the Discover it Balance Transfer especially appealing for people who want to reduce interest payments while still getting rewarded for their spending.
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Cons of Discover it Balance Transfer
As with any card, there are a few drawbacks to be aware of:
- No intro APR on purchases — Although there’s a balance transfer offer, new purchases begin accruing interest right away unless paid off monthly.
- Rotating categories require activation — You’ll need to manually activate each quarter’s bonus category to receive 5% cash back.
- Category caps — The 5% rate only applies to the first $1,500 spent in bonus categories per quarter.
- Foreign transaction fees — Discover charges a fee for purchases made abroad, which makes this card less suitable for international travel.
- Discover acceptance abroad — While widely accepted in the U.S., Discover may not be accepted at as many locations overseas compared to Visa or Mastercard.
If your goal is to travel internationally or if you prefer a flat-rate rewards card without rotating categories, this might not be the perfect fit.
APR and Fees
Here are the key rates and fees associated with the card:
- Annual Fee: $0
- Intro APR for Balance Transfers: 0% for 18 months
- Balance Transfer Fee: 3% for transfers during intro period, then 5%
- Purchase APR: Variable 18.24% – 28.24%
- Foreign Transaction Fee: Yes (amount varies)
- Late Payment Fee: Up to $41
This structure makes the card ideal for transferring balances and paying them off over time, but less ideal for carrying balances on new purchases.
How to apply for the Discover it Balance Transfer
Applying is simple and can be done through the Discover website. Before applying, make sure you:
- Are at least 18 years old
- Have a fair to good credit score (typically 670 or higher recommended)
- Can provide income and personal information
Discover often provides pre-qualification tools that allow you to check your chances of approval without affecting your credit score. If approved, you’ll be able to request a balance transfer directly through the online account or mobile app.
