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Discover it® Business Card review

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A simple credit card that lets you earn unlimited cash back on all of your purchases.

  • 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 670 or higher.

Up to 1.5%

Cash back

$0

Annual fee

0%

Intro purchase APR

for the first 12 months (then 12.99% to 20.99% variable)

670

Recommended credit score

Details

Product NameDiscover it® Business Card
Annual fee$0
Purchase APR0% intro for the first 12 months (then 12.99% to 20.99% variable)
Balance transfer APR12.99% to 20.99% variable
Balance transfer fee5%
Cash advance rate24.99% variable
Cash advance fee$10 or 5% of the cash advance amount, whichever is greater
Foreign transaction feeNone
Interest free periodUp to 25 days
Late payment feeUp to $40
Returned payment feeUp to $40

Expert review

Kliment Dukovski

Review by


Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

If you’re looking for a simple business card, the Discover it® Business Credit Card might be a great fit. It offers unlimited 1.5% cash back on all purchases, a decent intro APR on purchases and a Cashback Match on the rewards you earn during your first card year. What’s more, it has a $0 annual fee.

There aren’t many bells and whistles, so look elsewhere if you want a card with powerful spending credits or travel perks. But the cashback rate is solid, especially since the card has no annual fee. Pick up the card if you want a straightforward product that won’t give you headaches from multiple reward categories, or if the budget’s tight and you don’t want to shell out for a high-powered business card.

How to apply for the Discover it® Business Card

  1. Go the Discover website and find the Discover it® Business Card from the list of cards.
  2. Click Apply now.
  3. Fill out the application form with info about you and your business.
  4. 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.

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 $5.
  • 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 12.99% to 20.99%.

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 $40 — 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 intro APR on balance transfers.
    If you’re looking for an intro APR period on balance transfers, check out other balance transfer credit cards for businesses.
  • May not be the right choice if you want tiered cash back.
    While this card is an option if you want simple cash back, you’ll want to look elsewhere if you want tiered rewards. For example, you might spend heavily in a certain business category, when a tiered-rewards card could be a better choice.
  • Consider having a backup card for overseas trips.
    While many international merchants take Discover, acceptance of the issuer’s cards lags behind that of Visa and Mastercard products.

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 670 or higher. Most business cards of this class require good to excellent credit and a history of steady revenue.

Discover it® Business Card reviews and complaints

Discover has been accredited with the Better Business Bureau (BBB) since 1989 and earns an A+ rating as of October 2020. 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.

I got the card. Now what?

  • Get the Discover mobile app. Use the Discover mobile 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 $40.
  • 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

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