Discover It Balance Transfer Credit Card Application Guide
The Discover It credit card is designed mainly to offer advantageous balance transfers, helping you to consolidate your debts effectively!
Key Insights Before Applying for the Discover It Balance Transfer Credit Card
The Discover It card is designed specifically for balance transfers, offering a 0% introductory APR for the first 15 months.
The Discover card primarily focuses on facilitating balance transfers, simplifying monthly payments and lowering interest fees from other credit cards.
It provides a 0% introductory APR for the first 15 months, with a transfer fee of 3% initially and 5% thereafter.
Once the initial period ends, the APR for purchases and balance transfers is between 17.24% and 28.24%.
What’s more, the card does not charge an annual fee, enabling cardholders to save significantly on interest by transferring balances from higher-interest cards to Discover’s 0% APR.
This extra savings can be applied to larger debt repayments, helping to stabilize finances.
Although balancing transfers to save on interest might seem intimidating initially, Discover assures that it’s a beneficial strategy.
According to Discover It, the timing of balance transfers relies on account conditions and payment methods.
By consolidating debts onto the card, you not only cut costs but also enjoy peace of mind and save time spent managing multiple payments.
This card can significantly aid in debt reduction, all while eliminating the annual fee for its use. If this piques your interest, keep reading.
Eligibility Criteria
The essential criterion is to be at least 18 years old and a legal resident. Non-citizens need to provide a valid work visa for identity confirmation.
Additionally, the bank requires applicants to have a reliable source of income, usually from consistent employment or benefits.
A solid credit score is crucial for obtaining card approval. Nevertheless, meeting the criteria set doesn’t automatically ensure you will be approved, as every application is assessed by Discover.
Essentially, Discover follows typical eligibility standards for issuing credit cards to residents of the United States.
How Can I Apply for the Discover It Balance Transfer Credit Card?
To initiate your card application, simply hit the “Apply Now” button on Discover’s website.
Then, to confirm your identity, you’ll need to input the last four digits of your Social Security Number, along with your ZIP Code and date of birth.
If you wish to apply manually, you can choose to “Skip this Step” and go straight to the application form.
Within the form, you’ll select your desired card design and fill out information such as your full name, address, date of birth, job status, monthly rent or mortgage expenses, income, and email.
After you submit this information, the bank will perform a comprehensive review of your application.
During the process, Discover might require extra documentation, like a copy of your driver’s license or passport, proof of residence, and bank statements for income validation.
Additional Information
Moreover, the card is versatile, supporting chip, contactless, and digital wallet payments.
Discover offers a wide selection of card designs, featuring nearly twenty options to personalize the card according to the user’s taste.
Thus, the Discover card is an appealing choice not just for balance transfers but also for everyday spending.
Until recently, the card provided cashback benefits of 1% for all transactions and 5% for select purchases, following Discover’s cashback structure.
At this moment, it’s essential to verify the contract details when signing up for the card, as the company has been updating its policies frequently.
This card offers $0 liability for unauthorized transactions and keeps a close watch on your account activity for your security.
The aim is to protect customers from data breaches or identity theft.
Interested in exploring another option?
The Discover It card offers basic features, but if you desire something more upscale, the American Express Platinum serves as an excellent choice.
The Amex classic provides 150,000 Membership Rewards points and earns 5x points on flights, plus you can find out how to apply.
