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Switch your Discover More to a Discover IT for better cash back and lower fees

ussrname 237 January 14, 2013 at 09:49 PM in Finance (2)
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More of an FYI than a deal, but current Discover More card holders should phone in to product change to a Discover IT. The IT is better in every way - it has
better rewards: (same category bonuses, but with 1% cash back from the first dollar instead of after 3k)
and lower fees: waived overlimit fee and fee for first late payment, lower interest rates.

Phone in to switch, no credit pull.

If you don't have a Discover More card, consider holding off on applying for a Discover IT until there is a cash bonus offer.

https://www.discover.com/credit-cards/index.html

308 Comments

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#16
I generally will only use Discover Card for ShopDiscover offers (though some claim you can use any CC via ShopDiscover, I have not gotten credit the couple of times I tried on smaller purchases) or for special promos like their 2% cash back on auto recurring cable\sat\phone or 5% on internet purchases that was in play last quarter.

Beyond that there really is no reason to use it as you can get better cash back from Chase Freedom (1.1% effectively plus ten cents a transaction and tie into their 5% quarterly offers as well.) Note that Chase Freedom is the best card to use for small transactions ($10-20 or less). The extra ten cents is a fairly decent bonus percentage-wise. Yes it is small change, but hey, why not if you are charging a small purchase anyway.

This Discover IT card looks like an attempt to basically compete with Chase Freedom and Capital One.
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#17
If switching from Discover More to Discover It, does all the current cashback balance transfer over as well?
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#18
What's the thing with a soft or hard pull? Does it even matter if you're not looking to get a loan in the VERY near future?

Quote from eSurfer View Post :
does it involve a soft or hard credit pull?

also, does it offer "Send Money" like Discover More.

If there is no credit pull and this IT card offers the same "Send Money" feature, then I'm in.
The CSR I spoke to said it does.

Quote from budster View Post :
If switching from Discover More to Discover It, does all the current cashback balance transfer over as well?
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#19
Capital One?

I know about Amex Blue and Chase Freedom, what's this Capital One card you speak of? Benefits?

Quote from YanksIn2009 View Post :
I generally will only use Discover Card for ShopDiscover offers (though some claim you can use any CC via ShopDiscover, I have not gotten credit the couple of times I tried on smaller purchases) or for special promos like their 2% cash back on auto recurring cable\sat\phone or 5% on internet purchases that was in play last quarter.

Beyond that there really is no reason to use it as you can get better cash back from Chase Freedom (1.1% effectively plus ten cents a transaction and tie into their 5% quarterly offers as well.) Note that Chase Freedom is the best card to use for small transactions ($10-20 or less). The extra ten cents is a fairly decent bonus percentage-wise. Yes it is small change, but hey, why not if you are charging a small purchase anyway.

This Discover IT card looks like an attempt to basically compete with Chase Freedom and Capital One.
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#20
Quote from YanksIn2009 View Post :
I generally will only use Discover Card for ShopDiscover offers (though some claim you can use any CC via ShopDiscover, I have not gotten credit the couple of times I tried on smaller purchases) or for special promos like their 2% cash back on auto recurring cable\sat\phone or 5% on internet purchases that was in play last quarter.

Beyond that there really is no reason to use it as you can get better cash back from Chase Freedom (1.1% effectively plus ten cents a transaction and tie into their 5% quarterly offers as well.) Note that Chase Freedom is the best card to use for small transactions ($10-20 or less). The extra ten cents is a fairly decent bonus percentage-wise. Yes it is small change, but hey, why not if you are charging a small purchase anyway.

This Discover IT card looks like an attempt to basically compete with Chase Freedom and Capital One.
The 1.1% rebate + 10 cents per transaction for Chase is only if you also have a checking account with them.
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#21
I switched to IT a couple of weeks ago, It does not put a "hard hit" on your credit because they are doing a transfer from within(thats what they told me) All the same bennys as a more , plus bonus from dollar one and all acct balance etc remains. So basically its a "more "on steroids! As stated before you have to wait for the next billing cycle. Right now they only have the one design you see on the commercials....If you want more info call discover and ask for an "IT" team member
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#22
I made the switch to IT a couple weeks ago and it was painless.
Just called in, spoke to a CSR and 5 minutes later the conversion was in process.

They cant do the actual conversion until day 1 of a new billing cycle so my card wont be here for a couple more days but it is on the way. My account online is already showing "IT" as of today Smilie

There really is no downside.
You still qualify for the 5% quarterly bonuses. You still get shopdiscover.com. No changes in APR and if you're late with your payment you get 1 freebie (No penalty, No APR boost).

Plus for those of us who aren't HUGE spenders the 1% on ALL purchases from the first dollar is a big step up from .25% on the first $3000.
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#23
Quote from budster View Post :
The 1.1% rebate + 10 cents per transaction for Chase is only if you also have a checking account with them.

That is true. However the checking account is free and only requires a small min balance and if you get one of those offers for $200 to open an account, you can make money on it.
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#24
I'm about to cancel mine. Discover rewards are such a scam. They find any reason they can to deny cash back bonuses. Looking at my Black Friday rewards I would have been better off using my 2% Fidelity card, and I still don't see any of the bonus points I should have gotten in December. So far it's on track to be 1% back on all of my purchases.
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#25
Quote from VaporTrailer View Post :
There really is no downside.
You still qualify for the 5% quarterly bonuses. You still get shopdiscover.com. No changes in APR and if you're late with your payment you get 1 freebie (No penalty, No APR boost).

Plus for those of us who aren't HUGE spenders the 1% on ALL purchases from the first dollar is a big step up from .25% on the first $3000.
I'd wait for a bonus offer for the IT card. I had a discover card and applied for a more card with a $200 bonus. They closed my 1st card and processed the new application with the bonus.
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#26
Quote from eSurfer View Post :
also, does it offer "Send Money" like Discover More.
Would also like to know if Discover IT still includes the Send Money feature. Anyone who already has Discover IT know?
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#27
Quote from Sinjz View Post :
Capital One?

I know about Amex Blue and Chase Freedom, what's this Capital One card you speak of? Benefits?
Cash Rewards.

See:

http://bucks.blogs.nytimes.com/20...edit-card/

http://www.capitalone.com/credit-cards/compare/

They advertise on TV all the time. I do not have one myself so I can not speak to how good it is in reality. I can't stand Capital One as a bank as the employees in the office in my area act like they are doing you a favor all the time and seem to want to find ways to not help you, make you wait longer or give you a harder time than is needed. It used to be just the opposite, but the branch closest to me closed down and the next closest seems to have some issues with their staff imo.
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ㄚ◯∪'尺モ 山モㄥ匚◯爪モ!
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#28
Do they give you a new number if you change from the discover more card? Would hate to memorize a new number/exp date/ cvv...
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#29
Quote from kiwinuker View Post :
Do they give you a new number if you change from the discover more card? Would hate to memorize a new number/exp date/ cvv...

No, it's not a new account. They just change the account over to IT.
No pulls, same account number.
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#30
How's this compare to the Discover Cash Bonus card? I just got it in November for the 5% online CB that quarter.
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