Discover It Balance Transfer Review

The Discover it Balance Transfer card earns 5% cash back up to a quarterly limit for purchases in rotating categories you activate, such as grocery stores, restaurants, and gas stations. For all other purchases, and when you hit the quarterly spending cap, the card gives you 1% cash back. Discover also matches all the cash back you’ve earned at the end of your first year.

Cash back rewards never expire and can be redeemed in any amount at any time. You may redeem cash back as a statement credit or a deposit into your bank account, use it for purchases on Amazon, get gift cards, or donate to charities.

If you need to change to a rewards program that better suits your spending habits, your rewards balance will be transferred to your new Discover card. You will not lose rewards.

If you are switching from cash back rewards to airline miles, then you will receive 1 mile for every cent you have earned. A $30 cash back bonus, for example, would convert to 3,000 miles.

Annual fee: Neither card charges an annual fee.

Rewards: These cards feature the same rewards structure. You can earn 5% cash back up to the quarterly limit on rotating categories you activate, such as grocery stores, restaurants, and gas stations. For all other purchases, and when you hit the quarterly maximum, these cards give you 1% cash back.

Sign-up bonus: For both cards, Discover matches all the cash back you’ve earned at the end of your first year.

Benefits: The main difference between these cards is the length of the 0% introductory APR period. The Discover it Balance Transfer card provides a 0% APR of 18 months for balance transfers and six months for purchases, after that a 15.74% – 26.74% Variable APR. Discover it Cash Back offers 15 months for balance transfers and purchases, after that a 15.74% to 26.74% variable APR. Otherwise, both cards charge no foreign transaction fees and give you free access to your FICO score.

Annual fee: Neither card charges an annual fee.

Rewards: The Discover it Balance Transfer card earns 5% cash back up to the quarterly limit in rotating categories, such as grocery stores, restaurants, and gas stations. When you hit the quarterly spending cap, and for all other purchases, the card gives you 1% cash back. The U.S. Bank Visa Platinum Card has no rewards program.

Sign-up bonus: Discover matches all the cash back you’ve earned at the end of your first year. The U.S. Bank Visa Platinum Card offers no sign-up bonus.

Benefits: The Discover it Balance Transfer card provides a 0% intro APR on balance transfers for 18 months and purchases for six months, after which a 15.74% – 26.74% Variable APR applies. But the U.S. Bank Visa Platinum Card charges no interest for 20 billing cycles on balance transfers and purchases, after that a 18.24% to 28.24% variable. You will get free access to your FICO score and avoid foreign transaction fees with the Discover it Balance Transfer card. The Discover it Cash Back provides up to $600 in cellphone protection if you pay your cellphone bill with the card and flexibility to choose a payment date that fits your schedule.