A simple credit card that lets you earn unlimited cash back on all of your purchases.
30-second take
- Get this card if you want unlimited cash back on everything you buy.
- Pick something else if you want higher cash back on specific categories or an intro APR period on balance transfers.
- Apply with a good to excellent credit score of 680 or higher.
| Product Name | Discover it® Business Card |
|---|---|
| Annual Fee | $0 |
| APR (Annual Percentage Rate) for Purchases | 14.99% to 22.99% variable |
| Introductory Purchase APR | 0% for the first 12 months (then 14.99% to 22.99% variable) |
| Balance Transfer APR | 14.99% to 22.99% variable |
| Balance Transfer Fee | 5% |
| Cash Advance Rate | 26.99% variable |
| Cash Advance Fee | $10 or 5% of the cash advance amount, whichever is greater |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $37 |
| Returned Payment Fee | Up to $37 |
| Minimum Age | 18 years of age |
|---|
| Reward Value per Dollar | 1.5% cash back |
|---|
The basics
At first glance, the Discover it® Business Card may look simple. You earn unlimited cash back on all of your purchases, and that’s pretty much it. But that’s not entirely true. Where this card shines is its Cashback Match: Discover will double the cash back you earn during your first year. Combine that with a year-long intro APR period on purchases, and you’ve got an excellent credit card to start your business with.
Of course, the card isn’t made only for young businesses. Any company that plans to make a large purchase during the first year of card membership will enjoy the increased cash back and long interest-free period.
Our pick for cash back
The perks
Earn cash back.
Earn unlimited 1.5% cash back on all of your purchases. Redeem your cash back as statement credit, an electronic deposit to your account or donate it to select charities. You can also redeem your earnings for gift cards with partnered businesses starting from $20.
Cashback Match.
At the end of your first year, Discover will match your earnings. For example, if you earn $500 cash back during the first year, you’ll get a $500 bonus for a total of $1,000. The more you spend — the more you’ll earn.
Intro APR on purchases.
Enjoy a 0% intro APR on purchases for the first 12 months following your account opening. After that, your rate reverts to a variable APR of 14.99% to 22.99%.
You’ll also like
No annual fee.
You won’t pay an annual fee to own the card.
No penalty APR.
The first time you make a late payment, you won’t pay any fees. A second failure to pay on time will cost you a fee of up to $37 — and that’s it. There’s no penalty APR. Other cards come with a penalty APR of up to 29.99% for a single late payment, which can apply indefinitely.
Free employee cards.
Get your employees free credit cards and earn cash back on their purchases. You can also control their spending by setting up limits.
Free FICO score.
Get free access to your FICO score based on data from TransUnion.
Freeze your account.
If your card is lost or stolen, easily freeze your account to prevent unauthorized purchases until you recover it or receive a new one.
What to watch out for
Low minimum credit line.
Discover determines your credit line by considering multiple factors, but it won’t give you one that’s less than $500.
No signup bonus.
Other cards offer a bonus once you meet certain spending criteria. But with this card, you won’t get any bonuses for signing up.
No intro APR on balance transfers.
If you’re looking for an intro APR period on balance transfers, check out theses balance transfer credit cards for businesses.
Consider other cards if …
You want a similar card from another provider.
Similar cards that offer unlimited 1.5% cash back on all purchases are the Spark® Cash Select for Business from Capital One®, the Wells Fargo Business Elite® Card and the Ink Business Unlimited℠ Credit Card from Chase. The last is the only card of this type that offers an intro APR period on balance transfers.
You want higher cash back on select categories.
You’ll earn more cash back on office supplies from US retailers, wireless telephone services from US providers and one category of your choice with the SimplyCash® Plus Business Credit Card. This can be especially worthwhile if you spend up to $50,000 per year on these categories.
If you spend between $50,000 and $250,000 per year on office supplies and gas, the Business Advantage Cash Rewards Mastercard® credit card from Bank of America could be a better choice. And if your expenses go beyond $250,000 annually on these categories, the U.S. Bank Business Edge™ Cash Rewards World Elite™ MasterCard® will earn you even more cash back.
You want a balance transfer card.
The Blue Business℠ Plus Credit Card from American Express offers one of the longest intro APR periods on balance transfers and purchases, and you’ll earn membership points on up to $50,000 of purchases per year.
Compare other business credit cards
What size business is the Discover it® Business Card good for?
Small businesses that want a simple cashback credit card could find this to be a useful addition to their wallets. Thanks to the intro APR on purchases, this is especially true if you’re just starting your business and are making large purchases early on or if you’re stocking up on inventory and have limited cash flow.
Cashback Match also helps you get more back. You’ll double your rewards for the first year, essentially earning 3% back on all purchases.
What should I know before I apply?
To apply for the card, your business must be established in the US. You’ll also have to provide information about your business, including:
- Name and company structure.
- Address and contact information.
- Years in business and annual revenue.
Next, you’ll need to provide information about the company owner or representative, such as:
- Name and address.
- Date of birth and Social Security number.
- Housing payment and annual income.
What credit score do I need?
To have a better chance of approval, apply with a credit score of 680 or higher. Most business cards of this class require good to excellent credit and a history of steady revenue.
What do customers say about the Discover it® Business Card?
Discover has been accredited with the Better Business Bureau (BBB) since 1989 and earns an A+ rating. The company boasts a US-based customer service team that seems to be doing a fine job, as card users rarely have negative feedback about their experience.
Most complaints on the BBB website revolve around accounts being closed for no apparent reason, customers being reported as paying late while their balance was $0 and issues with refunds and disputes, among other things. It should be noted that these issues apply to the credit card issuer in general, and not specifically to the Discover it® Business Card.
How to apply for the Discover it® Business Card
- Go the Discover website and find the Discover it® Business Card from the list of cards.
- Click Apply now.
- Fill out the application form with info about you and your business.
- Review your application and submit it.
How long will it take to get my Discover it® Business Card?
You should get a decision emailed to you within minutes. If you don’t get a reply within 48 hours, call 1-888-347-2683.
Once approved, expect your card to arrive within seven to 10 business days.
I got the card. Now what?
- Get the Discover mobile app. Use the app to monitor your balance, check your FICO score or pay your bills. In case you lose your card, the app can freeze your account and prevent unauthorized charges. You can also redeem your rewards through the app.
- Pay on time. Discover waives the fee for one late payment, but after that, you’ll pay a fee of up to $37.
- Contact customer service. For any questions, call 1-800-347-2683 or use the live chat feature on the Discover website once you log in to your account.
Bottom line
The Discover it® Business Card could be valuable to any business that wants to earn cash back on its purchases. But to get the most of your card, you may want to use it to make large purchases during your first year and earn 3% back rather than the standard 1.5%. This is the highest cash back you can earn on all purchases with a no-annual-fee card.
If you’re not convinced this is the right card for you, consider other business credit cards to find the best one for your needs.
Frequently asked questions
Images: Discover
