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Discover it® Business card review

Discover it® Business card review

Published: October 16, 2018
Published: October 16, 2018
Ratings Policy
Business Rating:
3.6 rating
3.6 rating
3.6 / 5
Rewards Value 3.7
Annual Percentage Rate 0.4
Rewards Flexibility 4.1
Features 2.0

In a Nutshell:

The new Discover it® Business card isn’t as flashy as its competitors, but it does offer firm footing and incentives for business owners who want a simple experience. With a flat 1.5-percent cash back rate that’s doubled for the first 12 months, low intro APR and no annual fee, you can hit the ground running.

Rewards Rate
Unlimited 1.5% cash back on every purchase

Introductory Bonus
Matches your cash back for the first 12 months

Annual Fee
$0

Average Yearly Rewards Value ($4,000 monthly spend)
$960

APR
14.99-22.99% (variable)

Rewards Redemption

Pros

  • No expiration
  • No blackout dates for travel
  • Redeem at any time
  • Can redeem for gift cards, credit to your account, donations, direct deposit to any account, pay at Amazon.com

Cons

  • Low annual spending limit on office supplies and gas

Other Notable Features: No foreign transaction fee; late payments don’t affect APR; 100% U.S.-based customer service; pay your bill up to midnight (ET) on the day it’s due by phone or online; no fee for paying by phone; redeem rewards for cash in any amount  

If you’re a small business owner looking for a straightforward and affordable card option, the new Discover it Business card is a solid find.

Offering a flat 1.5-percent cash back rate for every dollar spent, this card earns rewards no matter where or how you spend. On top of that, you get Cashback Match: This bonus promises that every dollar earned in the first 12 months is matched and added to your account.

There are some annual spending limits to keep an eye on when you’re shopping for office supplies and when you’re at the gas pump. However, you can spend without worrying about an annual fee, blackout dates or cash back expiration. And with a 0-percent intro APR for the first year, you can get off to a fast start.

Free employee cards

Discover it Business allows you to add employee cards according to your needs, and keep better track of business expenses. These additional cards also come with spending limits, but you can earn rewards for all purchases made by the cards.

Fraud protection

If you or your employees make a considerable number of business purchases, chances are greater that you could see a few surprise purchases. With the $0 Fraud Liability Guarantee, you can be confident that you won’t ever held responsible for unauthorized purchases on your Discover card.

Social security number alerts

In addition to fraud protection, Discover offers free alerts to its cardholders if your social security number pops up on any risky websites. If your number is found in an area that could put your identity at risk, Discover will immediately send an alert to your phone for you to follow up on. See more about the goal and functionality of this security function here.

Free FICO credit score

In 2016, Discover became the first credit card issuer to offer both cardholders and non-cardholders access to free FICO scores through its Credit Scorecard. Business owners who hold this card can continue to take advantage of that feature and others regarding their credit score.

Business history access

This card provides assistance with tracking business transactions through access to tools such as Quicken, Quickbooks and Excel. This feature allows the meticulous as well as the less organized business owner to enjoy quick access to records.

Why get the Discover it Business Card?

  • You want a straightforward card that allows you to earn and save cash quickly.
  • You want a card that takes your security seriously and helps you track expenses.
  • You are looking for travel assistance such as baggage delay insurance and rental car insurance.
  • You want flexible redemption options and no expiration periods.
  • You want your business purchases and employee purchases to be made with the same card.

How to use the Discover it Business Card:

  • Use your Card to make all purchases to earn the Cashback Bonus. This bonus is stored in a separate Cashback Bonus account in dollars and cents and rounded to the nearest cent.
  • If you close your account, your bonus doesn’t expire. Your Cashback Bonus balance is credited to your account if it’s closed or if you have not used it within 18 months.
  • Make both foreign and domestic purchases with no foreign transaction fee.
  • Pay your bill by phone or online with no fee up to midnight on the due date. There is no penalty fee for the first late payment.
  • If you travel a lot, take advantage of a 24-hour customer service feature at no cost.

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