discover it: 18 months no interest on balance transfers

Discover it: 18 Months No Interest & 5% Cash Back Make For A Great Offer

You’ve probably seen the commercials by now promoting “real person” customer service, which is the real deal and a great feature of the Discover it credit card. But here’s the best part of the Discover it: 18 months no interest on balance transfers, 6 months no interest on purchases, and 5 percent cash back in rotating quarterly categories. Getting any sort of rewards back on a no-fee card is always great, and coupling this with the 18 month no interest balance transfer period makes this a great card for carrying a balance.

However, there are a few different offers out there for the Discover it card, all of which have slightly different terms. These differing terms are important depending on how you intend to use the card. 

18 Months No Interest on Balance Transfers; 6 Months on Purchases

The first offer for the Discover IT card includes 18 months no interest on balance transfers, which can be great if you need to move balances off higher interest credit cards, which allows you to avoid paying interest on those balances for 1.5 years. Transferring balances is also a good way to improve your credit. Opening this card raises your total available credit — a key factor in your credit score. And assuming you make no more purchases, your total outstanding debt will remain the same, thus improving your debt to credit ratio and likely raising your credit score. However, this option only provides 6 months no interest on purchases, so if you’re looking to do a lot of spending, such as paying your taxes, another offer might be better for you.

14 Months No Interest on Balance Transfers & Purchases

We’re working on a comprehensive article on the best options for paying your taxes with a credit card, and this offer will certainly be featured there. For now, here’s the breakdown: While you don’t get 18 interest-free months on balance transfers, you do get a very solid no interest period on purchases, which is great if you have a hefty tax bill or other expense you need to take care of but want to avoid paying interest while you pay off the balance.

Discover it customer service commercial
There’s just something great about the idea of a credit card call center employee enjoying a tall glass of iced tea while he helps you.

Student Cards

The other two offers for the Discover IT card are targeted at students, primarily to help them begin building a credit history. We won’t go into detail on the terms here, as they’re much less attractive offers for those of use with established credit. If you’re looking for a student card, though, you can check out the terms of these two offers using the links below.

If anyone would like us to provide full reviews of these cards, just let us know in the comments!

Free FICO Credit Score

Another fantastic feature of all Discover it card options is that they all include a free look at your FICO credit score, updated monthly and available in your online account. Only Discover and Barclays currently offer free FICO scores to account holders. And this no-fee card is a great way to keep track of your score and report completely free of charge. Check out our recent post on credit cards offering free FICO scores to see all the cards sporting this awesome add-on.

Oh, and Get Some Cash Back, Too!

We’ve written before that it’s rare to have a no-fee credit card that offers a zero interest balance transfer and earns points, miles or cash back. The Frontier Airlines World Mastercard has a 12 month grace period on interest and balance transfers, as does the Barclaycard Arrival. And both of those also have great sign-up bonuses and miles-earning potential. But the Discover it offers longer interest-free grace periods and the ability to earn 5 percent cash back on rotating categories.

Discover it cash back categories
Discover it card users earn 5 percent cash back at restaurants and movie theatres in the first three months of 2014. Later categories will be announced as the year goes on.

At the time of this article’s publication, Discover had not yet announced the full calendar for 2014, but the first quarter’s categories are restaurants and movie theatres.

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