Discover it Business Card Review

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The Discover it Business Card has some nice introductory offers, though the available rewards are modest after the first year. If your business is in growth mode, make sure to consider this card for any bigger investments you need to make in the short-term. 

Discover it® Business Card

overall rating
4
Discover it® Business Card
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 14.74% - 22.74% variable
Annual Fee $0
Rewards Earning Rate Earn 1.5% cash back on every dollar spent on all purchases.
INTRO PURCHASE APR 0% for 12 Months
Cash Advance APR (%) 26.74%
Cash Advance Fee Either $10 or 5% of the amount of each transfer, whichever is greater.
Ratings Breakdown
for Interest
2.7
for Fees
4.3
for Rewards
3.6
for Credit
4.0

Discover will match all the cash back you've earned at the end of your first year, automatically.

Who is This Credit Card Best For?

  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need
    Savvy Saver
  • Avatar for Entrepreneur Persona
    Is turning their passion into a money-making venture
    Entrepreneur
  • Avatar for Road Warrior Persona
    Hits the road often, whether for work or play
    Road Warrior
  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain
    Deal Seeker

The Discover it Business Card offers good value in the first year you have the card, with sizeable cash bonuses and no interest on purchases. After that, the rewards are more modest and you’ll lose the break on finance charges, though you won't pay an annual fee. 

If you have good credit and your business is in growth mode, consider this card for big purchases like inventory or equipment over the next year. Then you should re-evaluate. Since there are other business cards that offer higher ongoing cash-back rates, the Discover it Business Card may only make sense if your normal operating budget is less than $19,000 a year or you want to avoid a more complicated rewards structure. (More on this below.)

Pros

  • Cash-back match

  • Intro offer with 0% APR

  • No annual fee

Cons

  • Low rewards rate

  • Long wait period for cashback match

  • Few cardholder perks

  • Not as widely accepted

Pros Explained

  • Cash-back match: Everything you earn during the first year will be matched at the end of the year. This doubles your rewards and means you’re effectively earning 3% cash back on all purchases for the first year.
  • Intro offer with 0% APR: Any purchases you make with your card won’t be charged interest for the first year. It’s best to pay off all of your charges in full at the end of each month, but this gives you some time to catch up on your bills at no cost. After 12 months, you'll be charged an APR of 14.74-22.74%, variable.
  • No annual fee: You definitely want to avoid an annual fee if your business expenses are too low for you to recoup the cost through rewards.   

Cons Explained

  • Low rewards rate: While the 1.5% cash back applies to all spending, it’s a relatively low rate. Competing cards offer 2% across the board or 2%-5% on specific spending categories like office supplies or dining out.
  • Long wait period for cash-back match: This offer can be quite lucrative, especially if you spend a lot during your first year. However, you’ll need to wait the full year to get it. With most other sign-up bonuses, you’ll qualify for your rewards in three months.  
  • Few cardholder perks: Cards on Visa and Mastercard networks often offer a wide range of ancillary perks, such as auto rental insurance, extended warranties, insurance for stolen or damaged purchases, and more. Discover cards generally don’t come with any of those benefits. 
  • Not as widely accepted: While most places will accept a Discover card in the U.S., you may have a harder time using it in some parts of the world than you would a Visa or Mastercard. If you plan on traveling abroad a lot, you may want to consider another card. Or at least bring a backup.

Discover it Business Card’s Sign-Up Bonus

The cash-back match is an unusual sign-up bonus, particularly because you have to wait an entire year to get it. However much you’ve earned through the standard 1.5% cash-back rate will be doubled at the end of the year, and applied to your account within one to two billing cycles. 

Unlike most sign-up bonuses, there is no limit to what you can earn, so there is tremendous upside value. But, this isn’t an excuse to go on a wild spending spree; you’ll still have to pay back all the money you borrow, and if you have to pay interest on it because you’ve rung up your balance, that could negate any earnings.

Earning Points & Rewards

The Discover it Business Card’s 1.5% rate is pretty standard for cards that pay you the same percentage on all of your purchases. You can find higher flat rates, but it’s not bad, especially for a card with no annual fee for you or your employees. 

If a competing card offers 2% cash back but requires a $95 annual fee, the Discover it Business Card may still be the better value. It all depends on how much your business spends. If your annual budget is $10,000, you’ll earn $150 on this card and just $105 on the competing card (after the fee). But if it’s $30,000, you’ll earn $450 on this card, and $505 on the other one, once you account for the fee. The turning point is a budget of $19,000.

At the end of each billing cycle, your rewards will be added into your Cashback Bonus Account. They won’t ever expire, so you can let the money pile up as long as you want before redeeming. If you leave a balance longer than 18 months, the earnings will be credited to your statement. And if you close your account, you’ll still get them. 

Redeeming Rewards

As with most cash back cards, redemption is simple. You can redeem your rewards at any time, no matter how little you have accrued (with the exception of gift cards, where the minimum is $20.) Call Discover or log into your online account or mobile app and choose to get your money as a statement credit, have it deposited into your bank account, or make a charitable donation. 

How to Get the Most Out of This Card

This card gets you 3% cash back in the first year, so take advantage by making any big purchases your business requires in those 12 months. After that, evaluate your budget to make sure it’s still the right card for you. If your business spends more than $19,000 a year, you may want to consider an alternative. Or, choose a companion card that offers a higher rewards rate on the types of purchases your company makes most.

You can find other cards with no annual fee that offer higher cash-back rates on restaurants, gasoline, internet service, or other specific spending categories. If you choose the Discover it Business Card as a companion to one of these tiered-rate cards, just be prepared to think about what you’re buying before you choose a card from your wallet. 

Customer Experience

If customer service is important to you, Discover takes the cake. It got the highest rating on J.D. Power’s 2019 Credit Card Satisfaction Study, which considered the opinions of more than 28,000 credit card customers in the U.S. 

The company uses an entirely U.S.-based customer service team and offers several ways to get in touch. Besides the mobile app, you can call into a 24/7 hotline to speak with a representative or live chat online.  

While many issuers provide a free VantageScore, Discover provides you with a free FICO credit score—the more widely used type. (Though you actually don’t need a Discover card to get access to this perk—anyone can sign up on the company's website.) 

Security Features

Discover doesn’t disappoint with its security features either. Perhaps one of the more useful is free fraud monitoring. Discover will monitor your Social Security Number on the dark web and notify you if it’s found in any shady places. It’ll also monitor your Experian credit report for fraudulent accounts.

In addition, you can lock your card from your online account or mobile app if it’s lost or stolen. If you lose your card, Discover will send a new one via overnight shipping for free. 

Discover it Business Card’s Fees

The Discover it Business Card carries no annual fee and won’t charge you anything for your first late payment (after that it’s a $37 fee) or when you use your card overseas. Otherwise, the fees are fairly standard for a small business card. 

For Discover it® Business Card

Compare This Card

See how this card stacks up to the competition
CURRENT CARD
Discover it® Business Card
overall rating
4
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 14.74% - 22.74% variable
Annual Fee $0
Rewards Earning Rate Earn 1.5% cash back on every dollar spent on all purchases.

Our Methodology

  • At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.