Is Discover a good credit card?
Are Discover cards worth it?
Our Verdict. The Discover it® Cash Back credit card is a good (but not great) cash-back card. Its customer service and first-year cash-back match stand out as its best features. The capped, rotating cash-back categories of its bonus rewards, however, make it a second-tier rewards card.
Is Discover card good to build credit?
For example, the Discover it® Secured credit card can help you build your credit if you responsibly use your account and pay your other loans on time. Be sure to make at least your minimum monthly payment due on time. It may also help to pay down existing credit card debt and dispute errors on your credit report.
Is it hard to get a Discover credit card?
If you want to get a Discover® credit card, you may be wondering how hard it is to get approved. Your credit score plays an important role here. The best Discover credit cards are aimed at consumers with FICO® Scores of 670 or above. If you have good or excellent credit, that helps quite a bit.
Is it better to get a Visa or Discover card?
Visa, one of the biggest differences you'll find is that Discover is both a credit card issuer and a card network while Visa is only a network. Visa is more widely accepted, too, and it has more supplemental benefits as well as more cards to choose from.
How much is the Discover It credit limit?
Discover credit card limits will always be at least $500, and there's no disclosed maximum. How much you get is determined by your creditworthiness. The only exception is if you have Discover it® Secured Credit Card.
How many credit cards are too many?
Owning more than two or three credit cards can become unmanageable for many people. However, your credit needs and financial situation are unique, so there's no hard and fast rule about how many credit cards are too many. The important thing is to make sure that you use your credit cards responsibly.
Is Discover owned by Capital One?
Two financial giants are joining forces, but the impact may not be seen until early 2025. On February 19, Capital One announced it would acquire Discover in an all-stock transaction worth $35.3 billion.
What is the minimum credit score for Discover it?
There's no credit score required to apply for a Discover it® Secured credit card1 or a Discover student credit card1.
What is the highest credit limit on a Discover card?
Discover credit card limits will always be at least $500, and there's no disclosed maximum. How much you get is determined by your creditworthiness. The only exception is if you have Discover it® Secured Credit Card.
Do Discover cards decline?
#1 You've reached your credit card limit
If your credit card balance creeps up toward your credit card limit and you try to buy something that makes your balance exceed your credit limit, it may result in a card decline. If this is the case, you can make a payment on your card to increase the available credit.
What's the easiest credit card to get approved for?
The OpenSky® Plus Secured Visa® Credit Card is the easiest credit card to get approved for because there's no credit check for new applicants. In addition to being easy to get, the OpenSky Plus Card has a $0 annual fee and reports to the major credit bureaus, making it easy to save money and build credit.
Why is Discover card so popular?
Uncomplicated but popular features—such as no annual fees for all its cards—and a straightforward line of credit card products set Discover apart from its more well-known competitors. Discover offers features worth consideration for nearly every type of card-seeker.
What stores don't take Discover?
The biggest exception is Costco, which is a Visa-exclusive business.
Where does Discover not work?
One major national chain outlet that doesn't accept Discover at any outlets is Costco, which only honors one credit card brand at its members-only warehouse stores, tire centers and gas stations. In 2016, Costco ended a 16-year partnership with American Express, and it currently accepts only Visa cards.
Is $8000 a good credit limit?
As such, if you have one of these cards, you might consider a $5,000 credit limit to be bad and a limit of $10,000 or more to be good. Overall, any credit limit of five figures or more is broadly accepted as a high credit limit. The main exception to the usual credit limit rules are secured credit cards.
How much should I spend if my credit limit is $1000?
How much should I spend if my credit limit is $1,000? The Consumer Financial Protection Bureau recommends keeping your credit utilization under 30%. If you have a card with a credit limit of $1,000, try to keep your balance below $300.
What's a good credit limit?
If you're just starting out, a good credit limit for your first card might be around $1,000. If you have built up a solid credit history, a steady income and a good credit score, your credit limit may increase to $5,000 or $10,000 or more — plenty of credit to ensure you can purchase big ticket items.
What are the three top credit cards?
Wells Fargo Reflect® Card: Best feature: Lengthy 0% introductory APR. Discover it® Miles: Best feature: Travel rewards. Chase Freedom Unlimited®: Best feature: Flexible cash back rewards.
What credit card should I get with 750 credit score?
Chase Sapphire Preferred® Card.
How many credit cards should you own?
To prepare, you might want to have at least three cards: two that you carry with you and one that you store in a safe place at home. This way, you should always have at least one card that you can use. Because of possibilities like these, it's a good idea to have at least two or three credit cards.
Does canceling a credit card hurt your credit?
Credit experts advise against closing credit cards, even when you're not using them, for good reason. “Canceling a credit card has the potential to reduce your score, not increase it,” says Beverly Harzog, credit card expert and consumer finance analyst for U.S. News & World Report.
Is it bad to have a credit card and not use it?
The bottom line. Credit card inactivity will eventually result in your account being closed. A closed account can have a negative impact on your credit score, so consider keeping your cards open and active whenever possible.
What is a 5 24 rule?
What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.
What bank owns Discover?
At close, Capital One shareholders will own approximately 60% and Discover shareholders will own approximately 40% of the combined company. "From Capital One's founding days, we set out to build a payments and banking company powered by modern technology.
