Discover it® Business Card
BEST FOR
Earning double cash back rewards on new business expenses
- Unlimited 1.5% Cash Back
- Cash back Match - We'll automatically match all the cash back you've earned at the end of your first year. There's no signing up. And no limit to how much we'll match.
- 100% U.S. Based Customer Service
- Free Employee Cards - Add employee cards with spending limits and earn rewards for all their purchases.
Pros
- Double cash back on purchases on the first 12 months
- 0% APR on purchases
Cons
- Low ongoing rewards after the first year
- 0% APR doesn’t cover balance transfers
- Social Security alerts: You will be alerted with free Experian credit monitoring whenever your Social Security number appears on the dark web
- Late fee waiver: You won’t incur a fee for the first late payment. Late fees are usually $39 for each occurrence.
The Discover it® Business Card is best for businesses that have many first-year expenses. It has no annual fee and pays 1.5% cash back. Discover matches the cash back earned at the end of your first year. It charges no interest on purchases for 12 months. The ongoing annual percentage rate (APR) starts at 15.24%.
The best fixed-rate cash back business credit cards pay up to 2% cash back on every purchase. This Discover business card only pays 1.5% cash back on all spending, which falls just short of the top cards. However, you will receive interest-free financing for 12 months on purchases. We rate this card 3 out of 5 stars.
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How We Evaluated the Discover it® Business Card
The Discover it® Business Card is the only small business credit card Discover offers. In our evaluation, we took into account the card’s introductory offer, ongoing rewards, annual fee, and if it offers any additional features like purchase protection or fraud protection. We did not take network acceptance into account as Discover is accepted in nearly as many places as Visa and Mastercard.
In this Discover business card evaluation, we considered the following criteria:
- Ongoing rewards: The rewards you’ll earn when you use the Discover it® Business Card. This Discover business card pays a fixed rate of 1.5% cash back on all spending.
- Introductory rewards: The introductory offer you can earn by reaching a minimum spending requirement. Instead of a traditional introductory reward, Discover will match—or double—all cash back earned at the end of your first year.
- Additional features: Whether the card has additional card features that increase its value. This card lacks common additional features like purchase protection. It only offers an account lock option, a free credit score, and a late fee waiver.
- Annual fee: How much it costs to own the card every year. This Discover business credit card charges no annual fee.
- Introductory APR: Whether the card offers an introductory 0% APR period. You’ll receive no-interest financing on purchases for 12 months.
- Ongoing APR: How much it costs to finance purchases or balance transfers on your card. The Discover it® Business Card has an ongoing APR between 15.24% and 23.24%.
The Discover it® Business Card offers an introductory 0% APR period for 12 months on purchases. If you’re looking to transfer a balance, this card is not right for you. Instead, consider a balance transfer business credit card. Those cards offer no-interest financing for up to 12 months on both purchases and balance transfers.
How We Evaluate Cash Back Business Credit Cards
When grading fixed-rate cash back business credit cards like the Discover it® Business Card, we weighed ongoing rewards heaviest. We rate introductory rewards as slightly less important, but it’s still the second biggest factor. We also consider the annual fee, introductory and ongoing APRs, and additional features.
We graded the Discover it® Business Card using the following methodology:
| Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
| Ongoing rewards | 20 | 30 |
| Introductory rewards |
18 | 20 |
| Additional features | 5 | 15 |
| Annual fee | 15 | 15 |
| Introductory APR | 10 | 10 |
| Ongoing APR | 7 | 10 |
| Total | 75 | 100 |
Based on our 5-star rating system where 20 points equals 1 star, the Discover it® Business Card would need to improve its additional features to earn 3.5 stars. In cases where cards receive perfect scores in most categories, we may award bonus points to boost the card’s rating.
Our grade of 3 stars is appropriate because This Discover card’s long-term value is below average. For example, Capital One® Spark® Cash for Business pays 2% cash back on all spending but charges a $95 annual fee, which is waived the first year. Plus, that card offers a one-time $500 cash bonus once you spend $4,500 on purchases within three months from account opening. You’ll also receive several insurances and fraud protection.
Who the Discover it® Business Card Is Right For
The Discover it® Business Card is best for business owners who want to maximize their rewards during the first year of card ownership. This no-annual-fee business credit card pays 1.5% cash back. Additionally, Discover matches all cash back earned at the end of your first 12 months. You’ll earn 3% cash back on all spending during the first year.
If you want a card with better long-term value, consider Chase Ink Business UnlimitedSM. It pays the same 1.5% cash back but offers several additional features that this card doesn’t offer. For example, you’ll receive car rental insurance, purchase protection, extended warranty protection, and emergency assistance services.
Alternatives to Discover it® Business Card
Compared to the Discover it® Business Card, several other business credit cards for new businesses offer better long-term value. For example, you can find cards that offer upfront introductory rewards up to $500, a handful of additional card perks, and bonus category rewards.
Capital One® Spark® Cash for Business
Capital One® Spark® Cash for Business
BEST FOR
Earning unlimited 2% cash back
- Introductory reward worth $500 after you spend $4,500 within the first three months
- 2% cash back on every purchase
- Issue employee cards for free
Pros
- No limit to the amount of rewards you can earn
- Lucrative welcome offer
Cons
- Lacks a 0% APR offer
- Annual fee is only waived for 12 months
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
- Purchase protection: Covers your new purchases for up to 90 days against damage or theft up to $10,000 per claim.
Capital One® Spark® Cash for Business is best for businesses that have a variety of spending needs. It pays 2% cash back on all spending and charges a $95 annual fee, which is waived the first year. Plus, you’ll have access to several additional card features, including purchase protection, car rental insurance, and extended warranty protection. You can learn more about these features and this card’s value in our Capital One® Spark® Cash for Business review.
Chase Ink Business UnlimitedSM
Ink Business Unlimited℠ Credit Card
BEST FOR
Pocketing 1.5% cash back on every single purchase
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
- No Annual Fee
Note: The information related to the Chase Ink Business Unlimited℠ Credit Card has been collected by fitsmallbusiness.com and has not been reviewed or provided by the issuer of this card.
Pros
- 0% APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Chase Ink Business UnlimitedSM is best for business owners who want to earn fixed-rate rewards, a sign-up bonus, and pay no annual fee. This startup business credit card pays 1.5% cash back on every purchase and offers a $500 bonus after spending $3,000 within the first three months. Plus, it offers no-interest financing for 12 months on purchases. If you want to learn more about this card, our in-depth Chase Ink Business UnlimitedSM review can help.
Chase Ink Business CashSM Credit Card
Ink Business Cash℠ Credit Card
BEST FOR
Office-based businesses that want top cash back rewards
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- Earn 1% cash back on all other card purchases with no limit to the amount you can earn
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
- No Annual Fee
Note: The information related to the ChaseInk Business Cash℠ Credit Card Card has been collected by fitsmallbusiness.com and has not been reviewed or provided by the issuer of this card.
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.
Chase Ink Business CashSM is best for business owners who want to earn top cash back rewards. It pays up to 5% cash back and offers $500 bonus cash back after you spend $3,000 within three months. This 0% APR business credit card also offers interest-free financing for 12 months on purchases. You can learn more about this card and its true value in our Chase Ink Business CashSM review.
Discover it® Business Card Costs
The Discover it® Business Card offers an introductory 0% APR period for 12 months on purchases. Once that promotional period ends, it charges an ongoing APR between 15.24% and 23.24%. Plus, this card is free to own, which makes it a good option for those that want to keep credit card costs to a minimum.
Financing costs and fees on this Discover business card include:
- Introductory APR: 0% for 12 months on purchases
- Ongoing APR: 15.24% to 23.24%, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: 5% of the amount of each transfer
- Foreign transaction fee: None
- Cash advance fee: $10 or 3%, whichever is greater; cash advance APR is 27.24%
- Late payment fee: None the first time you pay late’ after that, up to $37
- Returned payment fee: Up to $37
- Penalty APR: None
The introductory 0% APR period on this Discover business credit card only applies to purchases. Some 0% APR business credit cards offer no-interest financing on both purchases and balance transfers. For example, American Express Blue BusinessSM Plus offers interest-free financing for 12 months on purchases and balance transfers.
How to Avoid Paying Interest on the Discover it® Business Card
To avoid interest on this card, you must pay off your balance within 25 days after the close of each billing period―at least 23 days for billing periods that begin in February. Other business credit cards have shorter payment windows. For example, Chase Ink Business UnlimitedSM requires you to pay your balance within 20 days after the close of each billing cycle.
Discover it® Business Card Rewards
The Discover it® Business Card doesn’t offer a traditional introductory reward. Instead, Discover will match—or double—all cash back earned at the end of the first year. This card also pays a fixed rate of 1.5% cash back.
Introductory Rewards
Instead of a traditional upfront introductory reward, Discover matches all cash back earned at the end of the first year. After the first 12 consecutive months, you’ll receive your reward in the following one or two billing periods. We’ve reviewed dozens of business credit cards, and we have not seen a similar offer.
If you want to receive a more typical introductory reward, consider Chase Ink Business UnlimitedSM. That card also pays 1.5% cash back and offers a $500 bonus after you spend $3,000 within the first three months. To earn a $500 bonus with this Discover business card, you would need to spend about $33,500 in the first year.
Ongoing Rewards
The Discover it® Business Card pays unlimited 1.5% cash back on all spending. With Discover’s cash back match, you can earn 3% cash back for the first 12 months. However, after the first year, this card’s value quickly diminishes.
If you want to earn a higher return rate that provides better long-term value, it’s likely that you will need to pay for a card with an annual fee. For example, Capital One® Spark® Cash for Business pays 2% cash back but charges an annual fee of $95, which is waived over the first year.
Rewards Restrictions
The Discover it® Business Card won’t give rewards for the following:
- Cash advances
- Balance transfers
- Illegal transactions
- Any cash you receive in connection with a purchase at the point of sale through Discover’s Cash at Checkout feature
Discover is one of the only issuers that lets you withdraw cash when you make a purchase. When you check out at a register, you can choose how much cash back you want, and you’ll be charged the entire purchase plus the cash price. There is no fee, but you’re expected to repay your balance at the end of the billing period. Cash back is limited to $120 every 24 hours.
How You Can Redeem Your Rewards
You can redeem your cash back rewards for charitable donations to select charities as a credit to your account, as an electronic deposit into any account you designate, or for gift cards starting at $20. Discover rewards have no expiration date. Discover will credit your account with your cash back reward balance if your account is closed or has not been used in 18 months.
Discover it® Business Card Additional Features
The Discover it® Business Card offers very few additional card features, which makes its long-term value below average. These card features include account lock, late fee waiver, and a free credit score. Other cards, including Chase Ink Business UnlimitedSM, offer car rental insurance, purchase protection, and extended warranty protection.
Account Lock
The Discover it® Business Card allows you to freeze your account in seconds to prevent any new purchases with an on/off switch that’s available through the mobile device app and website. This feature can help prevent any fraudulent purchases on your account if, for example, you lose your card or someone steals your card information.
Although this feature is not found on all small business credit cards, most cards offer fraud protection, which means you’re never held responsible for the unauthorized purchase. For example, according to Capital One’s website, Capital One business credit cards provide fraud coverage and alerts via text, email, or phone call.
Late Fee Waiver
The Discover it® Business Card offers a late fee waiver. You’ll pay no late fee the first time your payment is late, then $37 thereafter. However, any unpaid balances will accrue interest until they’re fully repaid. We’ve reviewed dozens of small business credit cards, and we have not seen this feature on other credit cards.
Free FICO Credit Score
As a Discover it® Business Card account holder, you’ll automatically receive a free FICO personal credit score. Your score, key factors, and other credit information are available on Discover’s website. When you receive your score, you’ll see up to a year of recent scores online. If you don’t want to receive your score, you can call Discover at 800-347-2683 to request a cancellation, which takes two billing cycles to process.
Adding Discover it® Business Card Employee Cards
You can issue unlimited Discover it® Business Card employee credit cards at no additional cost. Most small business credit cards offer free employee cards, even if the primary card charges an annual fee. Employee credit cards are an excellent way to get business funds in the hands of your employees.
If your company has at least $4 million in annual revenue and at least $250,000 in annual credit card expenses, we recommend a corporate credit card. Corporate credit cards are due in full monthly, which means they don’t charge interest. Plus, business owners have no personal liability.
What the Discover it® Business Card Is Missing
The Discover it® Business Card’s long-term value is below average. Although you can earn 3% cash back during the first 12 months, this card lacks several valuable additional card features that typically increase a card’s long-term value. For example, other cards, including Chase Ink Business UnlimitedSM, provide rental car insurance, purchase protection, and extended warranty protection.
Discover it® Business Card Reviews
Discover it® Business Card online user reviews are mostly mixed. Although it doesn’t provide an upfront introductory reward, users love the cash back match they receive at the end of their first year. However, some users complain this card loses most of its value after the first year when compared to other cash back credit cards.
How to Apply for the Discover it® Business Card
You can apply for the Discover it® Business Card online. To get a business credit card, you must fill out a basic application with your business and personal information. Usually, you’ll receive an approval instantly. If you don’t, you can call Discover at 800-983-1246 for more information. Once you’re approved, you’ll receive your card within five to seven days.
How to Login Into Your Discover it® Business Card Account
You can log into your Discover account online with your username and password. If you have trouble, you can call customer service through the number on the back of your card or by dialing 800-983-1246.
Other Discover Business Credit Cards
Discover doesn’t offer any other business credit cards. However, we do rank two of its personal credit cards as solid choices to use as a business owner. You may want to consider one of these cards if you can’t qualify for a traditional business credit card. Personal credit cards don’t report to business credit agencies, so these options won’t help you build your business credit.
Other Discover credit cards include:
- Discover it® Secured card: This personal credit card has no annual fee and pays up to 2% cash back. Secured credit cards have credit limits equal to your cash deposit. We rank it as one of the best secured business credit cards.
- Discover it® Cash Back: This personal credit card pays up to 5% cash back and has no annual fee. It has the same cash back match reward that the Discover it® Business Card offers. We rank as one of the best credit cards for self-employed workers.
Bottom Line
The Discover it® Business Card is best for business owners who want to earn 3% cash back on all spending during the first year. This card charges no annual fee and offers no-interest financing for 12 months on purchases. You can apply online in a matter of minutes.
