I’ve started seeing advertisements for a Discover it® Card and having never seen it before, I was curious what it was. Other than a different looking card, it’s actually not much different than their base Discover More card. If you recall, the Discover More card was as straightforward a card as they come – bonus cashback on rotating categories, no annual fee, and a few other little features that most credit cards offer.
So I was surprised when I saw the Discover it® card because I thought maybe there was something special. There is… kind of. The biggest draw of the card is that it offers an 18 month 0% APR balance transfer (3% fee) on top of the types of features you expect from a Discover card – no annual fee, no foreign transaction fee, and 5% cashback on rotating categories (first 1st quarter of 2013, it’s on restaurants and movies).
That’s the biggest financial benefit of the card. The card comes with a few nice features that, hopefully, none of you will ever have to use. First, customer service is all U.S. based and human, so you can get on the phone with a person in the U.S. that you, hopefully, won’t have communication problems with. I’ve never had a problem with companies with outsourced customer service in the last five years, but if you have and it frustrates you, this is a nice perk. I say hopefully because I hope you never have to call them!
Next, if you miss a payment, the first one won’t result in a late fee and it won’t increase your APR. Again, hopefully you don’t miss payments but it is nice that they put it in writing that they won’t ding you immediately. A lot of companies that offer 0% balance transfer rely on you missing a payment, so they can jack up the rates, or that you keep spending on the card, so the new purchases accrued interest at the regular APR.
All in all, it’s a small step up from the Discover More card.