A Complete Guide to Discover Credit Card Benefits


In recent years, the long list of Discover card rewards and benefits have seen Discover credit cards surge in popularity. For one thing, Discover card rewards are easy to use — Discover card rewards points are redeemed as a cash back statement credit, with no minimum redemption amount — and Discover card rewards rates are highly competitive.

But the appeal goes beyond simply offering good rewards credit cards. Discover cardholders also enjoy a host of additional benefits with a focus on security, value, and service. Here’s a guide to all of the perks and benefits you can expect from your Discover credit card.

Benefits that apply to all Discover credit cards

  • All Discover credit cards charge $0 annual fee and $0 overlimit fees.
  • Discover charges no foreign transaction fees.
  • All Discover credit cards earn cash back rewards and Discover card rewards have no minimum rewards balance needed to redeem.
  • Discover cardholders get a free Credit Scorecard with their FICO® Score and other important credit information. Scores are updated monthly.
  • Discover’s Freeze it® feature allows cardholders to turn their account on or off at will to prevent fraudulent or unauthorized purchases.
  • Discover offers “Social Security number alerts.” In a nutshell, if you activate this feature, Discover will keep an eye on your SSN and alert you if it finds your data on a risky website or notices new accounts opened in your name.
  • Discover cardholders enjoy $0 fraud liability, meaning you aren’t financially responsible for unauthorized purchases.
  • If your Discover card is lost or stolen, the company will ship you another one, overnight, for free.
  • At certain retailers, you can use your Discover card to get cash back when making a purchase, similar to what you can do with a debit card. Discover will charge your regular purchase interest rate for this, not a higher cash advance APR. Discover limits these transactions to $120 every 24 hours, and Discover cashback stores may set their own limits.
  • Discover has U.S.-based customer service. What’s more, unlike your typical credit card issuer, Discover commits to not try to sell you other products when you call their customer service department.
  • All Discover cards match the rewards earned in the first year, which matches the rewards you earn during your first year of being a cardholder.
  • Many Discover card rewards partners allow you to redeem your cash back at checkout (though this may not always be the best move).
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Benefits Discover cards don’t have

In the interest of helping you pick the best credit card for you, it’s important to point out that there are some popular credit card benefits you won’t get with a Discover card.

This is especially true when it comes to travel benefits. Specifically, Discover’s travel benefits were eliminated in early 2018, including auto rental insurance and flight accident insurance. So, if you’re planning on doing a lot of traveling, you might be better off with one of our other favorite travel credit cards.

In addition, Discover also recently eliminated some benefits that are favorites among shoppers, such as purchase protection, return protection, and extended warranty benefits. To be fair, several other card issuers have also cut these types of benefits, but many issuers do still offer them.

The bottom line on Discover credit card benefits

To be clear, there certainly are credit cards with more benefits than Discover. And if travel- or purchase-related benefits are at the top of your priority list, a Discover card may not be the right credit card product for you.

Having said that, the Discover card rewards program offers some unique features, such as Discover’s sign up bonus. Plus, some of Discover’s other perks are valuable, such as access to 100% U.S.-based customer service and the lack of foreign transaction fees.

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The bottom line is that if you’re looking for a solid rewards credit card with no annual fee, and aren’t really concerned with travel and purchase benefits, a Discover credit card could be just what you’re looking for.


View more information: https://www.fool.com/the-ascent/credit-cards/discover-card-rewards/

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