Discover the Process for Applying to the Discover It Balance Transfer Credit Card
The Discover It credit card is mainly designed to offer advantageous terms for balance transfers, making it easier to manage and consolidate your debts!
What Should You Know Before Applying for the Discover It Balance Transfer Credit Card?
The Discover It card is designed specifically for balance transfers, offering a 0% introductory APR for the first 15 months of usage.
The Discover card primarily focuses on enabling balance transfers to simplify payments and lower interest costs from other cards.
It features a 0% introductory APR for the first 15 months, with a 3% transfer fee at the outset, rising to 5% after that.
Once the introductory period concludes, APR rates for purchases and balance transfers will range from 17.24% to 28.24%.
Additionally, there is no annual maintenance fee, helping cardholders save on interest by moving balances from high-interest cards to Discover’s 0% APR.
This extra money can then be allocated to pay off larger debts, achieving a better balance.
While the idea of transferring balances to cut interest might seem intimidating initially, Discover insists it’s a strategy worth pursuing.
According to Discover It, the timing of balance transfers is contingent on account statuses and payment methods.
By consolidating debts onto this card, you not only lower costs but also gain peace of mind and save time on multiple payments.
Thus, this credit card can significantly help in managing debts, all while avoiding an annual maintenance fee. If this sounds appealing, keep reading.
Who is Eligible to Apply?
The minimum requirement is to be at least 18 years old and a legal resident. Non-citizens must show a valid work visa for identity verification.
Additionally, the bank requires applicants to possess a reliable source of income, usually from steady employment or benefits.
Keeping a good to excellent credit score is crucial for getting a card approved. However, just meeting these standards doesn’t assure approval, as all applications go through Discover’s evaluation process.
Essentially, Discover follows typical eligibility requirements when issuing credit cards to residents of the U.S.
How Can I Apply for the Discover It Balance Transfer Card?
To initiate the application process, simply click the “Apply Now” button on Discover’s website.
Next, verify your identity by entering the last four digits of your Social Security Number, along with your ZIP Code and date of birth.
If you choose to apply manually, you can opt to “Skip this Step” and move directly to the application form.
In this form, select your desired card design and fill in personal details like your full name, address, date of birth, employment status, monthly rent or mortgage, income, and email address.
Once you submit your details, the bank will carefully review your application.
Throughout this process, Discover may ask for more documentation, like a copy of your driver’s license or passport, proof of your address, and bank statements to verify your income.
Additional Information
Additionally, the card supports various transaction methods, including chip, contactless, and digital wallet options.
Discover offers a wide selection of card designs, with nearly twenty options available to help customize the card to fit the owner’s taste.
Thus, the Discover card is an appealing choice not just for balance transfers but also for daily financial management.
Until recently, the card provided cashback rewards of 1% on all purchases and 5% on eligible categories, following the Discover It program.
It’s important to verify the terms when signing the card contract, as the company has been altering some policies lately.
This card offers $0 liability for unauthorized transactions and keeps a close watch on your account activities.
The aim is to protect customers from data breaches or information theft.
Interested in exploring another option?
The Discover It card is quite straightforward, but if you seek a more extensive and luxurious service, consider the American Express Platinum.
The Amex classic offers 150,000 Membership Rewards points and 5x points on flight bookings, and you can check out the application process.
