Everything you need to know about the Discover It Balance Transfer Credit Card

If you're drowning away in high-interest credit card debt, moving it to the Discover It Balance Transfer card might be a smart option. What's the catch? Let's find out!

The Discover It Balance Transfer Credit Card offers a rare feature for a balance transfer card and rewards on everyday spending. One thing to keep in mind though is that unlike other some other 0% intro APR cards, the Discover it Balance Transfer isn't a great choice for financing a large new purchase. And while the card limits certain common fees, there is one fee you’re going to want keep track of: a balance transfer fee that increases over time from 3% to 5% after several months.

What’s exciting is the 0% intro APR on Purchases for 6 months and 0% intro APR on Balance Transfers for 18 months, and then the ongoing APR of 13.49%-24.49% Variable APR.

You also get the following rewards:

• 5% cash back on rotating quarterly categories on up to $1,500 in purchases each quarter (requires activation); 1% after that. Bonus categories in the past have included gas stations, wholesale clubs, restaurants and more.

• 1% cash back on all other purchases. (Note: Rewards are earned only on purchases, not on balance transfers.)

This card is a great option if you are looking for something that can help reduce your outstanding credit card balance. However, if this is a card that you’re just using and paying off balances every month on, the rewards might not seem all that exciting.

If you’re looking for options to reduce APR on outstanding balances, why wait to get a card? Try Gauss!