Discover covers a variety of banking services, including online banking, home equity loans, student loans and personal loans. Though, they don’t have as many as American Express or Chase, Discover also offers highly valued reward credit card bonuses and promotions.
The credit cards they offer come with up to 5% cash back and a unique Cashback Match™ promotion at the end of the first year for new customers. Discover provides high-quality service and top-notch security features. Cardholders can enjoy unique benefits such as no annual fee, instant account freeze, first late payment forgiveness, free FICO credit score tracking, and rewards redeemable at Amazon.
Unlike other financial institutions, Discover initially started as a credit card company but now offers more banking services. With only a few credit cards, Discover is confident that at least one will meet each customer’s financial needs. Review all of the Discover credit card bonuses listed below. Find the features you need and sign up to enjoy the benefits.
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Things You Should Know About Discover
Discover is a higher standard corporate institution that runs their own payment network. We’re going to evaluate the things everybody should consider when looking at a Discover credit cards. This can be very informative for new and current cardholders. This is for cards issued by Discover as part of their portfolio.
- You are limited to a maximum of two Discover credit cards. Your first account must be opened for at least a year before you can open a second one. For student credit cards, you can only have one.
- Discover will usually match sign up bonuses. If not, call in to request your bonus matched.
- Check your credit card application status online.
- If you’re denied for a Discover credit card, contact their reconsideration department. Discover may approve you after they ask some basic questions. Make sure you have a valid reason for wanting the card, for example, a unique feature that the card offers. In addition, know your credit score and report, as different cards require different scores.
- View cards you’re pre-approved for online.
- Multiple inquiries won’t be merged since you can only apply for one card at a time.
- Discover doesn’t offer retention bonuses. This is because their cards don’t have any annual fees. However, there are spending bonuses available on their cards every here and now.
- You can change your product to a different Discover credit card. There aren’t any rules required, such as the minimum length the card needs to be opened before it can be changed. However, you currently can’t change to or from a Discover it Miles card.
- Change your payment due date online.
- Discover won’t approve you with a frozen credit report. In addition, they won’t accept a temporary PIN if you call in. You must unfreeze it yourself.
- Discover reports for statement balance to credit bureaus. You can also contact them directly to report off-cycle if you need to lower your credit utilization quickly for FICO scores.
- Business credit cards aren’t reported to personal credit bureaus. This will keep your credit report cleaner.
- Distributing credit limits is a soft pull if done at the time of a new application. Both cards need to have a minimum credit limit of $500. For existing cards, it depends.
- Small credit limit increases induce a soft credit pull. On the other hand, bigger credit limit increases induce a hard pull.
- Discover doesn’t issue an instant credit card number. You’ll have to wait until your physical card gets to you in the mail before you can use it.
- Participate in Discover’s referral program. Earn a $50 referral bonus for you and your referee when they use your referral link. This will be doubled if you have the bonus on your account. Limit 10 referrals per year.
- If auto-pay is set up, Discover will do the auto-pay for the full statement balance if you pay it partially beforehand. However, if you pay in full, they’ll cancel the system, cancelling the auto-pay as well.
Best Discover Credit Card Bonuses
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Didn’t find any Discover credit card bonuses you liked from this list? See our list of the best credit card promotions and their respective reviews to find the best one that suits your needs, here on BankCheckingSavings. In addition, if you’re interested in opening a new checking and/or savings account, you can find a collection of our best bank bonuses with some of our helpful guides listed on there if you need any additional information!