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Best Discover Credit Cards of 2020

Best Discover Credit Cards of 2020

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Dec 30, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Discover offers a broad range of credit card products. So whether you’re in the market for a card that offers cash back on every purchase or one designed to help you build credit, Discover has an option for you. Plus, for new cardmembers, each Discover card matches all of the cash back you’ve earned at the end of your first year of card membership, and none of the cards charge an annual fee.

In this post, we break down several Discover credit cards to help you determine which one is the best fit for you.

In this article:

Best for bonus cash back rewards — Discover it® Cash Back

  • 0% for 14 months on purchases and Balance Transfers, then 11.99% - 22.99% Variable.

  • Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically. *

  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically*

Highlights
  • INTRO OFFER: Unlimited Cashback Match. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • No annual fee.
  • See Rates & Fees

See additional details for Discover it® Cash Back

More Info

The Discover it® Cash Back card offers the following rewards rate: Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically. Plus, for new cardmembers, Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match.

What else we like. The Discover it® Cash Back card offers an extended introductory APR on purchases and balance transfers. Cardholders enjoy an intro APR of 0% for 14 months on purchases, then a regular purchase APR of 11.99% - 22.99% Variable, as well as an intro APR of 0% for 14 months on balance transfers, then a regular balance transfer APR of 11.99% - 22.99% Variable.

What to look out for. You can only earn the 5% bonus on the first $1,500 spent in the bonus category each quarter you activate.

That said, if you max out the spending cap by making $1,500 in purchases in the 5% bonus category each quarter after you activate, you’ll earn $300 cash back in one year. Once new cardmembers factor in the cash back match sign-up bonus, that amount will jump to $600 in the first year of card membership.

Best for balance transfers — Discover it® Balance Transfer

If you have high-interest credit card debt that you want to transfer to a card, take a look at the Discover it® Balance Transfer card.

What else we like. Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically.

But keep in mind that it’s best to pay off the full balance of your transfer within the promotional period prior to focusing on earning rewards on purchases.

Best for travel — Discover it® Miles

  • Discover will match all the Miles you've earned at the end of your first year.*

  • 1.5 Miles per $1 Spent*

  • Redeem for Travel or Cash. Easily redeem Miles as a statement credit for travel purchases or get cash.*

Highlights
  • UNLIMITED BONUS: Discover will match ALL the Miles you’ve earned at the end of your first year, automatically. For example, if you earn 35,000 Miles, you get 70,000 Miles. That’s $700 towards travel or to redeem as Cash! The more you earn, the more you get.
  • Earn unlimited 1.5x Miles for every dollar spent on all purchases - with no annual fee.
  • Redeem for Travel or Cash. Easily redeem Miles as a statement credit for travel purchases or get cash.
  • No Blackout Dates. Simply pay for travel purchases like airlines, hotels, rental cars, and more with your Discover it® Miles card.
  • Miles Pay You Back. Easily redeem Miles as a statement credit for travel purchases. Or get cash.
  • Freeze your account in seconds with an on/off switch either on the mobile app or website to prevent new purchases, cash advances, and balance transfers.
  • Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • See Rates & Fees

See additional details for Discover it® Miles

More Info

The Discover it® Miles card is a travel rewards card that lets you redeem miles for airfare, hotel stays, rental cars and other travel expenses with no blackout dates. This means that you can use your miles to book travel anytime, including during peak travel times and major holidays.

Additionally, since the card doesn’t charge foreign transaction fees, you won’t incur additional charges when you use your card outside of the U.S.

What else we like. Cardholders earn unlimited 1.5x miles for every dollar spent on all purchases - with no annual fee. You can redeem miles for cash or as statement credits (in any amount) to cover travel purchases, including airline tickets, hotel rooms, car rentals, travel agents, online travel sites and commuter transportation.

What to look out for. Travel rewards cards typically offer multiple redemption options and travel transfer partners; however, the Discover it® Miles card limits your redemption options to travel purchases and cash. Additionally, you cannot transfer miles to airline frequent flier programs.

By contrast, the Chase Sapphire Preferred® Card, for example, lets cardholders redeem rewards for cash, gift cards, travel and products and services, as well as transfer rewards to 10 airline partners and three hotel partners.

Best for business owners — Discover it® Business Card

Designed for business owners, the Discover it® Business Card offers free employee cards, as well as tools to help track business expenses.

What else we like. The Discover it® Business Card offers a simple rewards structure: Cardholders earn 1.5% cash back on every dollar spent on all purchases.

What to look out for. Although cardholders won’t have the hassle of dealing with rotating bonus categories or spending caps, there are business cards available that offer higher rewards rates in popular business categories, like dining and office expenses.

Best for building credit — Discover it® Secured

  • 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically

  • Credit line will equal your security deposit of $200 or more*

  • No annual fee, no late fee on your first late payment. No penalty APR*

Highlights
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • It's a real credit card. You can build a credit history with the three major credit bureaus. Generally, debit and prepaid cards can't help you build a credit history.
  • Establish your credit line with your tax return by providing a refundable security deposit of at least $200 after being approved. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 8 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score
  • INTRO OFFER: Unlimited Cashback Match. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • See Rates & Fees

See additional details for Discover it® Secured

More Info

The Discover it® Secured card is designed to help you build or establish credit. The card reports to the three major credit bureaus and gives you the option to convert to an unsecured card once you’ve demonstrated responsible card usage.

What else we like. The Discover it® Secured card offers unlimited cash back on every purchase — which is rare for a secured credit card. Cardholders earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically

What to look out for. The Discover it® Secured card requires a refundable security deposit, with a minimum of $200 to open the account, and your credit limit will be determined by your income and ability to pay (up to $2,500). That said, starting at eight months, Discover will automatically review your account to see if you qualify to receive your security deposit back and convert to an unsecured card.

The bottom line

The right Discover credit card for you essentially comes down to how you plan to use the card. For example, if you need to transfer a balance, the Discover it® Balance Transfer card will be best. But if you are a frequent traveler, you’ll benefit most from the Discover it® Miles card.


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