Learn How to Apply for the Discover It Balance Transfer Credit Card

What do You Need to Know Before Applying for the Discover It Balance Transfer Credit Card?

The Discover It introduces a card tailored for balance transfers, providing a 0% introductory APR for the initial 15 months of card usage.

The primary emphasis of the Discover card lies in facilitating balance transfers, which streamline monthly payments from other credit cards and mitigate interest expenses.

To this end, it offers a 0% introductory APR for the initial 15 months, accompanied by a 3% transfer fee initially and 5% thereafter.

After the introductory period, the APR rates for both purchases and balance transfers range from 17.24% to 28.24%.

Moreover, the card waives an annual maintenance fee, allowing cardholders to save substantially on interest charges by transferring balances from higher-interest cards to Discover’s 0% rate.

This surplus can then be redirected toward more significant debt repayments, effectively balancing accounts.

Though the concept of balance transfers to save on interest may appear daunting at first, Discover assures that it’s a worthwhile tactic.

The timing of balance transfers depends on account statuses and payment methods, as per Discover It.

In addition to reducing costs by consolidating debts on the card, you also gain peace of mind and save time spent on various payments over time.

This way, the credit card can greatly assist in reducing debts, all without an annual maintenance fee for the service. Therefore, if you have this interest or need, you can keep reading.

Who can Apply?

The basic requirement is being at least 18 years old and a legal resident. Non-citizens must provide a valid work visa for identity verification.

Moreover, the bank requires applicants to have a steady source of income, typically from stable employment or benefits.

Maintaining a good to excellent credit score is also essential for card approval. However, meeting these criteria doesn’t guarantee approval, as all applications undergo Discover’s assessment process.

In essence, Discover adheres to standard eligibility criteria for issuing credit cards to American residents.

How do I Apply for the Discover It Balance Transfer Credit Card?

To start the card application process, you’ll need to click the “Apply Now” button directly on Discover’s online platform.

Next, you can verify your identity by entering the last four digits of your Social Security Number, ZIP Code, and date of birth.

If you prefer a manual application, you have the option to “Skip this Step” and proceed to the application form.

In the form, you’ll choose your preferred card design and provide personal information like your full name, address, date of birth, employment status, monthly rent or mortgage payments, monthly income, and email address.

After submitting the information, the bank will conduct a thorough review of your application.

Throughout the process, Discover may request additional documentation, such as a copy of your driver’s license or passport, proof of address, and bank statements for income verification.

More Details

Additionally, the card is adaptable, accommodating chip, contactless, and digital wallet transactions.

Discover provides a diverse range of card design options, offering nearly twenty choices to tailor the card to the cardholder’s preferences as much as possible.

Therefore, the Discover card is an attractive product not only for balance transfers but also for everyday financial management.

Until recently, the card offered cashback benefits of 1% for all purchases and 5% for eligible purchases, according to the Discover It system.

However, currently, it will be necessary to check at the time of signing the contract with the card, as the company has been changing some policies.

In terms of benefits, the card features $0 liability protection for unauthorized purchases and constant monitoring of your account activities.

The goal is to safeguard the customer from leaks or theft of information.

Want to learn another option?

The Discover It card is quite basic, and if you’re looking for a more comprehensive and premium service, the American Express Platinum is a great solution.

The Amex classic comes with 150,000 Membership Rewards points and 5x points on airfare purchases, and you can see how to apply.

Written by

Gabriel Gonçalves