Discover it® Business Card Review

Discover it® Business Card Review

Advertiser & Editorial Disclosure

With little to no fees, a steady rewards rate and no-hassle redemption program, the Discover it® Business Card is worth consideration for the young business owner. As of April 1, 2019, Nav is the first and currently only credit card marketplace offering the Discover it® Business Card“The Discover it Business Credit Card is a smart, simple and rewarding credit card that provides all the features that Discover cardmembers love and rely on in the hands of business owners,” said Meera Sridharan, Director of Acquisition Marketing with Discover. “Working with Nav gives us a unique opportunity to offer the Discover it Business Credit Card on a platform that has a great reputation among business owners.”

Discover it® Business Card
Discover is a Nav Partner
Terms, Rates & Fees

Discover it® Business Card

INTRO OFFER: You could turn $350 into $700 with Cashback Match™. Get a dollar-for-dollar match of Learn More

Capital One® Spark® Classic for Business

Enjoy no annual fee. Earn 1% cash back on every purchase. Build business credit with responsible Learn More

Ink Business Cash℠ Credit Card

Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account Learn More
Purchase APR 15.24% to 23.24% Variable
Welcome Offer You could turn $350 into $700 with Cashback Match™. Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched.
Rewards Rate 1.5% cash back on every dollar spent on all purchases.
Foreign Transaction Fee None
Annual Fee $0

 

Discover has long been one of the most respected and sought-after names in the consumer credit card space. Now, with the Discover it® Business Card they look to bring the same value and service to business owners. With a steady rewards rate, little in the way of fees, and no minimum redemption for cash back, the Discover it® Business Card could be a strong choice for business owners.

Pros

  • Cash back matched for the first year with no limit
  • No annual fee or foreign transaction fee
  • 0% intro APR
  • No minimum redemption for cash back
  • 1 year in business requirement

Cons

  • Other cards may offer a higher rewards rate
  • No travel rewards
  • No 0% intro APR for balance transfers
  • May not be the best option for big spenders

Welcome Offer

While the Discover it® Business Card lacks the big-time welcome gift for new cardholders, it gives you the chance to double your cash back. You could turn $350 into $700 with Cashback Match™. Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched.

Keeping in mind that the card only requires one year in business, this welcome offer could be a tremendous help to a young business going through growth and the associated costs.

There are certainly other cards with attractive perks and offers for new cardholders such as a large amount of points or business services, but not many cards for businesses with only one year in operation.

Earning Points

Some cards restrict your earnings to specific spending categories or cap your rewards earnings at a certain dollar amount. Not so with the Discover it® Business Card. You’ll earn 1.5% cash back on every dollar spent on all purchases.. There’s also no limit on how much you can earn.

The downside is the relatively low cash back rate of 1.5%. The Cashback Match offer gives you 3% back for the first year, but goes back to the 1.5% rate once the year is up.

Other cards may offer a base cash back rate of 3% or 5%, or incentivize certain spending categories, but it may be difficult or impossible for young businesses to qualify. With a hassle-free earning process and no limit, this is a good start for businesses with only a year under their belt, and a good way to attack those various business expenses unique to the first two years or so of operation.

Redeeming Points 

Discover takes even more hassle out of their rewards system when it comes to redeeming the points. Where some cards have a minimum requirement for redeeming points, you can redeem yours with even one cent earned.

Your points can be redeemed either as cash applied as a statement credit to your card account, an electronic deposit to your business bank account, or as a donation to charity. After you accumulate $20 in points, you can redeem for gift cards or eCertificates from certain Discover partners.

Fees

Discover keeps the fees at a minimum with the Discover it® Business CardThere is no foreign transaction fee or annual fee, and your first late payment fee is waived.

Other Perks

To keep things simple and streamlined, you can download purchase information directly to Quicken, QuickBooks, and Excel. That takes away that much more tedium and guesswork when it comes to filing your taxes.

You’ll also get access to your free Credit Scorecard with your FICO Credit Score, as well as fraud protection which keeps you off the hook for any unauthorized purchases made on your Discover card account.

Being a Discover customer also means you have access to their stellar customer service team, which is open any time, day or night. That means your business doesn’t have to wait for help or adjust to anyone else’s hours.

Frequently Asked Questions

Does the Discover it® Business Card report to personal credit?

Yes. Both positive and negative card activity will be reported to the three regular consumer credit bureaus: Equifax, Experian, and TransUnion.

Discover also reports to the three business credit bureaus, making this a great option for young businesses looking to beef up their business credit profile.

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