What kind of credit for discover card

Consumers prefer an easy way to filter through available options to determine which ones work best for them and which they may qualify for. Consider these tips when evaluating which credit cards you qualify for and which ones are a good fit for your situation:. Preapproval means the card issuer is fairly confident you can be approved for a credit card. First, it provides an idea of the types of credit cards you could be best suited for.

Second, it protects you from unnecessary credit card applications that may actually harm your credit score. Having a credit card is similar to a short-term loan in that you can carry a balance monthly. It only makes sense that the lender wants to maximize their chances of being repaid.

Knowing if you qualify helps lenders evaluate which credit card may provide the most value to you. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired.

Terms apply to the offers listed on this page. That gives you over a year to pay off old balances, fund a large purchase or make day-to-day spending decisions without worrying about interest charges. There are many good reasons to apply for the Discover it Cash Back card — but what credit score do you need to ensure your application gets approved? You are most likely to be approved for the Discover it Cash Back card if you have good or excellent credit — which, in the FICO credit scoring system , is a credit score between and What does that mean?

Essentially, Discover wants to make sure you practice responsible credit habits, such as making on-time payments every month and keeping your balances low. In addition to evaluating your payment and balance history, Discover will take a look at your length of credit history , to ensure you have a long track record of using credit responsibly. Your Discover it Cash Back credit limit is based not only on your history of responsible credit use but also on your current income level compared to major monthly expenses like a rent or mortgage payment.

Before you apply, check your credit score. There are many ways to check your credit score online for free. The best way to improve your credit quickly is by paying off your outstanding balances , which reduces your credit utilization ratio and increases your credit score.

What credit score do you need for the Discover it Cash Back card? You can use any Discover Miles you earn with the Discover it Miles card to cover travel purchases or Amazon. In addition, you can convert miles at a rate for cash back as bank account direct deposit. Discover has also announced that your miles can now be used to cover your credit card bill, including the minimum payment.

Unlike a few issuers, Discover will credit your account with your cash back or miles balance rather than forfeit your rewards if your account is closed or unused for 18 months.

Account security is a point of emphasis for Discover. Although credit bureaus like Experian and other credit monitoring services can also search thousands of risky sites for your Social Security Number, Discover is one of the few issuers that provides this deep web account monitoring alert service for free. This means first-time credit cardholders and those with lower credit scores can earn cash back rewards with a first-year bonus to cap it off.

However, the February Nilson Report stated 99 percent of U. Although these common card perks are offered on many major cards, Discover discontinued their purchase protection, extended warranty and auto rental collision insurance features in The card recently became available again. Some Discover cards currently include balance transfer offers, but the term lengths tend to be shorter than the month or month offers available with top balance transfer cards.

The only flat-rate cash back card Discover offers is the Discover it Business Credit Card and its unlimited 1.

The Discover it Miles unlimited 1. Discover customers can hold a maximum of two credit card accounts with five authorized users on each. Cardholders can apply for a second card after their existing account has been open for 12 billing cycles. There are several Discover cards available for consumers, and the one you choose should be based on your individual financial needs.

Cardholders in the following categories can definitely benefit from Discover cards:. Discover provides great options for students looking for their first credit card or to build up their credit scores.

While Discover does have decent travel card offerings, these travel cards leave some things to be desired in terms of travel protections and perks.

Discover does have a credit card dedicated solely to balance transfers. The list of criteria for rating credit cards includes:. Whether the card offers extras such as retail discounts, extended warranties on purchases, travel insurance and financial management tools. Have questions for our credit cards editors? Feel free to send us an email , find us on Facebook , or Tweet us Bankrate. Every reasonable effort has been made to maintain accurate information.

However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

The information, including card rates and fees, is accurate as of the publish date. All Rights Reserved. Cashback Match: Only from Discover, as of September We'll match all the cash back rewards you've earned on your credit card from the day your new account is approved through your first 12 consecutive billing periods or days, whichever is longer, and add it to your rewards account within two billing periods.

You've earned cash back rewards only when they're processed, which may be after the transaction date. We will not match: rewards that are processed after your match period ends; statement credits; rewards transfers from Discover checking or other deposit accounts; or rewards for accounts that are closed. This promotional offer may not be available in the future and is exclusively for new cardmembers. No purchase minimums. We'll match all the Miles rewards you've earned on your credit card from the day your new account is approved through your first 12 consecutive billing periods or days, whichever is longer, and add it to your rewards account within two billing periods.

You've earned Miles rewards only when they're processed, which may be after the transaction date. Calendar quarters are defined as the three-month periods beginning January 1, April 1, July 1, and October 1.

Purchases made at Gas Stations include only merchants in the category that sell automotive gasoline that can be paid for either at the pump or inside the station. Gas Stations affiliated with supermarkets and supercenters may not be eligible. Restaurant purchases include only those made at merchants classified as full-service restaurants, cafes, cafeterias and fast food locations. Purchases made through third-party payment accounts, mobile or wireless card readers, virtual wallets or similar technology will not be eligible if the technology does not provide sufficient transaction details for rewards qualification.

Discover Card does not assign MCCs to merchants. Even if you make purchases at a merchant of items that appear to fit in a rewards category, the merchant may not have an assigned MCC in that rewards category. Rewards are added to your Cashback Bonus account within two billing periods. One Good Grade Reward per School Year, per account, up to a maximum of five 5 consecutive years from the date your account is opened.

Terms of Good Grade Reward Offer are subject to change. Builds credit with responsible use : Discover reports your credit history to the three major credit bureaus so it can help build your credit if used responsibly. Late payments, delinquencies or other derogatory activity with your other credit card accounts and loans may impact your ability to build credit.

Discover refunds deposits two ways : 1 automatic monthly reviews at 8 months to see if your account qualifies to "graduate" after showing responsible use of all your credit over time, or 2 when you close your account and pay in full we will return the security deposit to you. Deposit refunds can take up to two billing cycles plus ten days. Please use reasonable care to protect your card and do not share it with employees, relatives, or friends. Learn more at Discover.

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