Discover it offers two different options for you—the regular Discover it and the Discover it Chrome. Let’s take a look at the similarities and differences so that you can decide if one or the other is better for you. Each of these cards currently offers two separate ways to enjoy the benefits, so, hopefully we can clarify how you can make the best choice for you!
The Discover it is growing in popularity, and certainly offers many benefits. Currently, there are two Discover it options available (not including the Student card offers). Let’s break down the two Discover it offers first.
The difference between the two offers
- 0% intro APR on purchases & balance transfers for 14 months–then a variable purchase APR applies, currently 10.99% – 22.99%. A 3% fee applies to each transferred balance.
Discover it® – 18 Month Balance Transfer
- 0% intro APR on balance transfers for 18 months–then a variable purchase APR applies, currently 10.99% – 22.99%. A 3% fee applies to each transferred balance.
- 0% intro APR on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% – 22.99%.
No Annual Fees
Both Discover it options have no annual fee, so you can enjoy all of the perks and benefits without having to pay a dime!
Avoid Other Fees
There are also no late fees for your first late payment, your APR won’t increase if you pay late, and there’s no foreign transaction fee or overlimit fee. Gotta love it!
Big Rotating Rewards
You’ll receive 5% cash back on quarterly rotating categories throughout the year (up to $1,500 in combined purchases each quarter) and 1% cash back on all other purchases. From July through September 2014, receive 5% cash back at gas stations.
Discover it Chrome
The Discover it Chrome offers two options as well. Discover likes to keep things interesting! Let’s examine the differences and similarities.
The differences between the two offers
Discover it® chrome
- 0% intro APR on purchases and balance transfers for 14 months-then a variable purchase APR applies, currently 10.99% – 22.99%.A 3% fee applies to each transferred balance.
Discover it® chrome
- 0% Intro APR* on balance transfers for 18 months. Then the variable purchase APR applies, currently 10.99% – 22.99%. A fee of 3% applies for each balance transferred.
- 0% Intro APR* on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% – 22.99%.
No Annual Fees
Discover it Chrome offers all of the advantages, with no annual fees. This makes it a terrific everyday credit card with tons of perks!
Avoid Other Fees
With the Chrome, there are also no late fees for your first late payment, and there’s no foreign transaction fee or overlimit fee.
Rewards that Stick
Receive 2% cash back on gas station and restaurant purchases, up to $1,000 each quarter. You’ll earn 1% on all other purchases.
Different Options for Earning Points
With the regular Discover it options, you will earn one point per dollar spent for all purchases, with rotating categories that offer 5% earnings. With the Discover it Chrome, you will earn a flat rate of 2 points per dollar spent on gas stations and dining, and one point per dollar elsewhere, with no rotating bonus categories. The major difference is that the Chrome, points rates are consistent and permanent, while the basic Discover it has a flat rate with rotating bonus categories. Consider which card might earn you more points!
While it might be difficult for you to choose between the various options, there are a few factors to think about that could affect your decision. First, review the options for the 5% bonus categories and see if these are major spending categories for you. Consider how much spending you do in the dining and gas categories, and this may help you decide between the Discover it and the Discover it Chrome versions.
When it comes to evaluating the APR options offered by each (the regular it and the Chrome it) then you need to think about whether or not you will be transferring balances or if you would benefit more from no interest on purchases.
Classic Discover Perks
All of the Discover it options offer access to the ShopDiscover online portal, where you can find discounted merchandise—from 5-20% off regular prices! Not only will you get great discounts, you will earn additional rewards points.
As with all Discover products, you will have your free FICO score printed at the top of every statement. Discover believes in helping people be financially responsible, and keeping tabs on your credit score is an important part of this.
You will also have human customer support available, 24 hours a day, 7 days a week. Any problems or issues you run into will be handled promptly and professionally.
Full fraud protection is available with both of these offers. Discover is consistently protecting their customers from any liability related to fraudulent transactions.
How to Choose?
Choosing Discover it is the easy part. Choosing which offer is going to suit your needs best may take a little more thought. For those looking for a great way to save interest on balances from other cards, both the Discover it and the Chrome offer an 18-month introductory period of 0% APR. This gives you a full year and a half to pay off your balances from other cards. Remember that balance transfers do not qualify for cash back earnings. But, you can certainly save a bundle on interest by transferring balances from higher-interest credit cards.
For those who are looking to save interest on purchases, the other options which offer a 0% introductory period on purchases may suit you best. But, if you are the type of person who pays off their credit card in full each month, you will never pay interest anyway.
When it comes to rewards earnings, we think the Discover it comes out ahead, with its higher potential earnings with 5% rotating categories and a higher cap of $1,500 instead of $1,000 with the Chrome. But if rotating categories aren’t your style, then by all means, go with the Chrome! It’s still an excellent offer.
Considering all of the shared benefits between both Discover it and Discover it Chrome offers, you really can’t go wrong! It all depends on your personal goals and your rewards earning style.