Discover has announced the re-release of several popular credit card products, including the Discover it® Balance Transfer Credit Card and the Discover it® Secured Cash Back Credit Card, following a period of application pauses due to its merger with Capital One. Alongside these reintroductions, the Discover it® Cash Back Credit Card is now available with a limited-time welcome offer, matching its previous best-ever promotion.

The Discover it® Cash Back Credit Card is offering new applicants a chance to earn a $200 statement credit after spending $500 within the first three months of opening the account. Furthermore, all cash back earned in the first year will be automatically matched by Discover. This means that the 5% cash back earned on up to $1,500 in quarterly bonus categories (after activation) can effectively double, alongside the 1% cash back on all other purchases. The card also provides a 0% introductory Annual Percentage Rate (APR) for 15 months on both purchases and balance transfers, with a variable APR of 18.74% – 28.74% applying thereafter. A balance transfer fee is applicable.

For individuals looking to build or rebuild their credit, the Discover it® Secured Cash Back Card presents an attractive option. This card requires an initial security deposit, starting as low as $49, which can unlock a credit line of $200. It also features the same 5% cash back on rotating quarterly categories (up to $1,500 per quarter) and the first-year cash back match. Responsible use, including on-time payments, can help cardholders establish a positive credit history, potentially leading to an upgrade to the unsecured Discover it® Cash Back Card and the return of their deposit.

The Discover it® Balance Transfer Credit Card is also back for new applicants, offering a 0% intro APR for 18 months on balance transfers and for six months on purchases. This card also includes the Unlimited Cashback Match™ offer for the first year and earns 5% cash back on up to $1,500 in quarterly spending categories, then 1% on all other purchases. These reintroduced offers aim to provide consumers with valuable tools for managing debt and earning rewards.

Key Takeaways

• Discover has relaunched key credit card products, including the Balance Transfer and Secured Cash Back cards.
• New cardholders can benefit from a $200 bonus, a 0% intro APR for up to 18 months, and a first-year cash back match on the Discover it® Cash Back card.
• The Discover it® Secured Cash Back Card offers a path to credit building with rewards and a low initial deposit requirement.

Editor’s Analysis & Impact

The reintroduction of these Discover credit cards, particularly with enhanced welcome bonuses and extended 0% APR periods, signals a competitive move in the credit card market. The focus on both rewards accumulation and credit building caters to a broad consumer base, from those seeking to maximize cash back to individuals aiming to improve their credit scores. The ‘Unlimited Cashback Match’ is a particularly strong differentiator, offering significant potential value in the first year. This strategy could attract a substantial number of new customers, especially those looking to consolidate debt or finance large purchases interest-free. The market will be watching how these offers impact competitor strategies and consumer adoption rates.

Frequently Asked Questions

Q: What is the Discover it® Cash Back Card's welcome offer?
A: New applicants can receive a $200 statement credit after spending $500 in the first three months. Additionally, Discover will match all the cash back earned in the first year.

Q: What is the introductory APR for the Discover it® Balance Transfer Card?
A: The Discover it® Balance Transfer Card offers a 0% intro APR for 18 months on balance transfers and for six months on purchases. After this period, a variable APR of 17.74% – 26.74% applies.

Q: How does the Discover it® Secured Cash Back Card help build credit?
A: By making on-time payments and using the card responsibly, cardholders can build a positive credit history. This can lead to an upgrade to an unsecured card and the return of the initial security deposit.