How good is the Discover credit card? (2024)

How good is the Discover credit card?

Discover is a good credit card company, ranking third-best in customer satisfaction and offering cards with $0 annual and foreign transaction fees. Plus, Discover rewards users with at least 1% cash back on purchases and will match new cardholders' earnings from their first year as a special anniversary gift.

Is Discover a good credit card to have?

Discover cards are widely accepted and offer competitive rates and rewards. If used conscientiously, the automatic cash-back match during the first year offers a rewards rate that can be hard to beat with other personal credit cards currently on the market.

What are the cons of having Discover it card?

Is it hard to get a credit card with Discover?

You can get a Discover credit card with any credit score or even no credit history at all. Discover has credit card options to fit every consumer. If you have bad credit or no credit history, you could get a secured card with Discover.

Is Discover good for credit building?

Builds credit with responsible use: Discover reports your credit history to the three major credit bureaus so it can help build/rebuild your credit if used responsibly.

Is it smart to get a Discover card?

Discover offers features worth consideration for nearly every type of card-seeker. Common benefits include: No annual fee: Every tier of Discover credit card comes with no annual fee. First-year unlimited cash-back match: Discover will match all rewards earned in a cardholder's first 12 billing cycles.

Is it better to get a Visa or Discover card?

Visa, one of the biggest differences you'll find is that Discover is both a credit card issuer and a card network while Visa is only a network. Visa is more widely accepted, too, and it has more supplemental benefits as well as more cards to choose from.

Why is Discover card not popular?

There's about one-seventh the number of Discover cards as Visa cards, so merchants may not have as much of an incentive to accept them. Discover sometimes charges merchants more for card acceptance than either Visa or Mastercard. Discover hasn't pushed into international markets as aggressively as its rivals.

What is the credit limit for Discover it?

The Discover it® Cash Back credit limit is at least $500 for all cardholders. It has the potential to be higher, too. Discover does not disclose a maximum credit limit, but there are reports of some cardholders receiving credit limits between $2,000 and $11,000.

What credit score do you need for a Discover card?

Like the Discover it® Cash Back, the Discover it® Miles requires good or excellent credit, which is defined by FICO as a score of 670 to 850. Unlike the Discover it® Cash Back, this card earns miles and is geared toward those for whom travel is a priority.

Is Discover card good or bad?

Discover is a good credit card company, ranking third-best in customer satisfaction and offering cards with $0 annual and foreign transaction fees. Plus, Discover rewards users with at least 1% cash back on purchases and will match new cardholders' earnings from their first year as a special anniversary gift.

How many credit cards are too many?

Owning more than two or three credit cards can become unmanageable for many people. However, your credit needs and financial situation are unique, so there's no hard and fast rule about how many credit cards are too many. The important thing is to make sure that you use your credit cards responsibly.

What is the easiest Discover card to get?

Lower credit score requirements

No credit score is required to apply for Discover it^® Student Cash Back, Discover it^® Student Chrome, and Discover it^® Secured Credit Card. Discover will consider information you include on your application and provided by others to determine your eligibility.

What is the #1 credit card to have?

The best credit card overall is the Wells Fargo Active Cash® Card because it gives 2% cash rewards on all purchases and has a $0 annual fee. For comparison purposes, the average cash rewards card gives about 1% back. Cardholders can also get an initial bonus of $200 cash rewards after spending $500 in...

What builds your credit score the most?

Does closing a credit card hurt your credit?

Credit experts advise against closing credit cards, even when you're not using them, for good reason. “Canceling a credit card has the potential to reduce your score, not increase it,” says Beverly Harzog, credit card expert and consumer finance analyst for U.S. News & World Report.

What are the perks of a Discover card?

Does Discover card approve everyone?

Discover has credit card options for just about everybody, from people who are building or rebuilding credit to those who have a high credit score already.

Why do people get Discover cards?

Discover credit cards all feature simplified rewards, either as points (for the Miles card) or as cash back. Discover cards charge no annual fees. Other fees the Discover range avoids include foreign transaction fees, late fees, over-the-limit fees, and card replacement fees.

What are the 4 major credit cards?

The four major credit card networks are Mastercard, Visa, American Express and Discover.

Where does Discover not work?

While Discover acceptance is higher in the United States than you might think, with 99% of U.S. merchants accepting it, it's still not as prevalent in other countries. One notable U.S. merchant that doesn't accept Discover is Costco, who only accepts Visa branded cards.

Does Walmart accept Discover card?

Create a Walmart.com account, or sign in to your existing account. Select Add Payment Methods and enter your Discover card details. Agree to the Terms and Conditions, follow prompts to verify proper set up, and create a Walmart PIN.

Why does Discover card have a bad reputation?

Discover is a bad credit card company for people who plan to travel abroad because Discover cards are accepted in fewer countries and territories than Visa and Mastercard. Some merchants also think Discover is a bad credit card company because it often charges high fees for card acceptance.

Why is Discover so hard to get?

Credit card companies will question why you need so much credit. If you've opened multiple cards with other card issuers in the last six months to a year, Discover may decide not to issue you a card. Recent credit inquiries: A high number of credit applications also makes you a riskier applicant.

Why don t stores accept Discover?

However, many merchants still feel it's not worth it, thus "Sorry, we don't take American Express" is still a common refrain. Discover is generally not as expensive as American Express for merchants to accept, but it still generally charges more than Visa or Mastercard, which is why Discover is No.