Discover it® Balance Transfer review

Claire Dickey Avatar
Claire Dickey Twitter logo @ClaireDickey  in  0% Interest How we rate our cards  | is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. does not include the entire universe of available financial or credit offers.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money.

Discover Image

Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Annual Fee:
Purchase Intro APR:
0% for 6 months
Balance Transfer Intro APR:
0% for 18 months
Regular APR:
13.49% - 24.49% Variable
Terms and Restrictions Apply

Bankrate Rating

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our cash back category page.


This page includes information about the Discover it Balance Transfer product which is no longer offered by Discover.

The information about the Discover it Balance Transfer has been collected independently by The card details have not been reviewed or approved by the card issuer.

Editor’s note: Some of the offers on this page may be expired. Check out our Best Credit Cards page for the most up-to-date offers for our favorite credit cards.

Discover it® Balance Transfer: Details and benefits

Interested in paying off your credit card balance this new year while earning rewards in the process? The Discover it® Balance Transfer credit card lets you do both.

The card offers a considerably long introductory 18-month zero percent APR window on balance transfers (see terms variable APR after) that allows you to complete your debt payoff process without racking up additional charges in interest for 1.5 years.

In addition to the intro zero percent APR window, earn 5 percent cash back on rotating categories each quarter (up to $1,500 in purchases, then 1 percent, activation required) and 1 percent on everything else. Here’s a look at Discover’s cash back calendar for 2020:

  • January through March 2020: Grocery stores, Walgreens and CVS
  • April through June 2020: Gas stations, Uber, Lyft and Wholesale Clubs
  • July through September 2020: Restaurants and PayPal
  • October through December 2020:, and

Those interested in an annual fee-free balance transfer card will appreciate the Discover it Balance Transfer’s lack of a yearly charge. An added bonus is the Cashback Match™ feature, which doubles all the cash back you’ve earned at the end of your first year.


  • Card includes both a lengthy introductory APR on balance transfers and a solid rotating rewards structure
  • Cash back earnings matched by Discover at the end of your first year
  • No annual fee
  • No foreign transaction fees


  • see terms, up to see terms on future balance transfers (see terms)*
  • To receive the highest rewards rate each quarter, you must activate in your online account or by calling 1-800-DISCOVER
  • Purchases receive a much shorter 6-month zero percent APR (see terms variable APR thereafter)

Is the Discover it® Balance Transfer worth it for you?

The Discover it Balance Transfer card is ideal for those who need to pay off credit card debt but want to make sure the card is useful after the payoff process is complete.

The card’s 18-month zero percent intro APR offer on balance transfers (see terms percent variable thereafter) is pretty long considering some of the longest offers available cap out at 21 months, and the lack of an annual fee means there’s no cost for owning the card.

Similar to most other balance transfer credit cards, you’ll owe a balance transfer fee for each transfer you make. Unfortunately, the fee you’re charged increases by 2 percent as time goes on.

For transfers posted to your account within the introductory period, you’ll owe see terms of the amount of each transfer. After this, you’ll owe see terms of the amount of each transfer (see terms).

Get the most value from the Discover it® Balance Transfer

Discover has a list of security perks that can help keep your information safe, including Discover® Identity Alerts, Freeze it®,  FICO® Credit Score for free and complimentary overnight card replacement.

With Identity Alerts, you’ll receive a slew of benefits including daily monitoring of both your Experian® credit report and thousands on dark websites. If a new inquiry or account is listed on your report or your Social Security Number is found on a dark website, you’ll be alerted.

The Freeze it feature allows you to pause your account if your card is lost or stolen. While your account is frozen, Discover won’t authorize new purchases, cash advances or balance transfers.

To opt into Discover’s security alerts, activate at

How much are the Discover it® Balance Transfer rewards worth?

To get the most value out of the Discover it Balance Transfer credit card, you’ll want to max out the quarterly bonus category by spending $1,500 every three months. In doing so, you’ll earn $300 worth of cash back for the year.

This amount doubles by the end of the first year with your Cashback Match™ welcome bonus, earning you $600 worth of cash back by the end of your first year.

Balance transfer example

If you’re looking to dwindle $4,500 in credit card debt, for example, you’ll pay $250 a month for 18 months with the Discover it Balance Transfer card. By transferring your balance within the introductory period, you’ll pay a $135 balance transfer fee. That fee raises to $225 after the fact.

How to redeem rewards

Rewards earned with the Discover it Balance Transfer card can be redeemed in a variety of ways:

  • Cash back as direct deposit or statement credit
  • Gift card (in $20 increments) and eCertificates
  • Shop on
  • Charitable donations