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This article was last updated Aug 09, 2018, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.
Who the card is best for
The Discover it® chrome is a good card for people looking to complete a balance transfer in a decent amount of time or for people who want to finance a purchase. The intro 0% for 14 Months on purchases and balance transfers, then 13.74% - 24.74% Variable APR can provide you with the time you need to pay off your balance without accruing interest. Also, if you’re someone who spends $333 or less a month on gas and dining, you’ll benefit more from the cash back program more than someone who spends over $333 (since there is a cap on 2 percent categories).
0% for 14 Months on purchases and balance transfers*
2% cash back at gas stations & restaurants on up to $1,000 in combined purchases every quarter, 1% on everything else*
13.74% - 24.74% Variable*
- INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
- Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus, earn unlimited 1% cash back on all other purchases - automatically.
- Redeem your cash back for any amount, any time. Cash rewards never expire.
- 100% U.S. based customer service.
- Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
- Receive FREE Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.
- No annual fee.
- See Rates & Fees
See additional details for Discover it® chrome
This card isn’t designed for those who need a long amount of time to pay off their debt since the intro period is subpar. You can easily find a balance transfer card with a longer intro period. If you’re someone whose goal is to earn cash back, you can do better with other cards that offer a flat rate for all purchases without special categories or quarterly maximums, like the Citi® Double Cash Card – $150 Cash Back Offer. If you spend over $333 a month on gas or at restaurants, this card also isn’t for you since there is a cap on the higher rate — you’d be better with a high flat-rate card.
Where this card stands out in its category
The Discover it® chrome offers a decent cash back program earning you 2% cash back at gas stations & restaurants on up to $1,000 in combined purchases every quarter, 1% on everything else*. This is an added bonus since most balance transfer cards lack a rewards program. Perhaps the best bonus of this card is the Cashback Match™ you’ll earn at the end of 12 months of card membership (new cardmembers only). This is an exclusive offer that Discover automatically matches all the cash back you've earned at the end of your first year.
Where this card falls short in its category
Among balance transfer cards, this card falls short in the length of the intro period and the balance transfer fee. You can find balance transfer cards with longer intro periods such as 18 or 21 months and cards like the Chase Slate®. Competing cards can provide you with more time to pay off your balance and save you money on the transfer fee. Regarding the rewards, there is a quarterly cap on the higher rate, limiting the amount of cash back you can earn at the higher rate. Check out other cash back cards without caps.
Additional card benefits
In addition to the cash back program and 0% intro APR offer, you can take advantage of these card benefits with the Discover it® chrome:
- Cashback Match™: Discover automatically matches all the cash back you've earned at the end of your first year.
- Simple cash-back redemption: Easily redeem cash back at any time and at any amount. Your cash back is valid even if you close your account.
- Freeze it®: Lost your card? Easily freeze new purchases while you look for it. This can be done online or in the app. Also, Discover will not authorize cash advances or balance transfers during this time.
- Free FICO® credit score: Receive your credit score for free each with Discover Credit Scorecard. Your score will be updated every 30 days. This is a good way to stay on top of your credit.
- 100 percent U.S.-based customer service: Speak to a representative 24/7 to answer your questions.
- No penalty APR: Discover won’t punish you for paying late, so your interest rate will remain the same regardless of a late payment.
- $0 fraud liability: If fraud is found on your account, you won’t be held responsible.
How to use it most effectively
To get the most value from this card, be sure to transfer your balance as soon as possible. The balance transfer period varies, so if you can’t complete your transfer right away, refer to your cardmember agreement for the exact date the offer expires. If you plan on making a large purchase and taking advantage of the 0% intro APR period, make the purchase soon after opening the card. Once your transfer or purchase is completed, make it a goal to pay off your balance before the end of the intro period so you aren’t charged interest.
How to do a balance transfer with Discover
A balance transfer with the Discover it® chrome cannot exceed your available credit limit. That includes the amount you transfer plus the balance transfer fee. For example, if you have a $7,000 credit limit, you can’t transfer a balance that is $10,000 since that’s over your credit limit. You also won’t be able to transfer a balance of $7,000, because the balance transfer fee will put you over the limit.
To complete your balance transfer online, from your account dashboard select the “Credit Options” tab, and select “See Offer” under “Balance Transfers”’ to view your intro offer. Once you select your offer, fill in your transfer information and verify and submit your transfer. Transfers typically take 14 days to process, so continue to make payments to your other creditors to avoid late fees until the transfer is complete.
The Discover it® chrome has a good cash back rate for people who spend at gas stations and restaurants. You’ll earn 2% cash back at gas stations & restaurants on up to $1,000 in combined purchases every quarter, 1% on everything else*. Discover also provides a Cashback Match™: Discover automatically matches all the cash back you've earned at the end of your first year. This is a great added bonus on top of the cash back you already earn from new purchases. Just don’t use the prospect of cash back as an excuse to overspend because you’ll risk falling into debt.
Compare it with the Chase Slate® credit card
When compared to the Chase Slate®, the Discover it® chrome falls behind in the balance transfer offer. Discover it® chrome has a slightly shorter intro period and charges a 3% balance transfer fee. Meanwhile, the Chase Slate® has an intro balance transfer fee offer — Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater. This can lead to increased savings compared to the Discover it® chrome.
The Discover it® chrome does have more benefits for those who want to earn rewards on new purchases. If you spend on gas and dining, you will earn a higher cash back rate on those purchases. The Chase Slate® does not offer any rewards, so it won’t provide value for people looking to earn rewards. See below for a breakdown of the key elements of both cards.
The information related to the Chase Slate® has been collected by CompareCards and has not been reviewed or provided by the issuer of this card.
|Discover it® chrome||Chase Slate®|
|Balance Transfer Terms||0% for 14 Months||0% Intro APR on Balance Transfers for 15 months|
|Balance Transfer Fee||3%||Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.|
|Ongoing APR||13.74% - 24.74% Variable||16.49% - 25.24% Variable|
|Transfer Period||Refer to your card agreement, and transfer as soon as possible||60 days from account opening|
|Rewards||2% cash back at gas stations & restaurants on up to $1,000 in combined purchases every quarter, 1% on everything else*||Non-rewards card|
People who spend $333 or less a month on gas and dining will benefit most from the Discover it® chrome. This card also comes with a decent balance transfer offer that can be enough time to pay off your debt depending on you needs.