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Discover

Banking, Loans, and Credit Cards
Discover offers online checking, savings, money market, and CD accounts as well as credit cards and personal and student loans.

Overview

Discover is a digital bank with no branches offering banking products like checking and savings accounts, loans like personal and student loans, and credit cards with different rewards. Discover is committed to helping you spend smarter, manage debt and save more money for a brighter financial future. They offer 100% U.S.-based customer service and a robust mobile app to manage all your banking online and access tools to manage your money in a smarter, more accessible way. 

Since Discover is a member of the FDIC and is also an accredited business, this means that your deposits at Discover are FDIC-insured up to the legal limits.

Discover Online Banking

Discover is an online bank that offers a top-rated mobile app to access your accounts and products on the go. The app allows you to deposit checks anytime from anywhere from the convenience of your phone using the feature Mobile Check Deposit. 

The bank offers more than 60,000 no-fee ATMs in the U.S. that you can quickly locate using the Discover mobile app. With online bill pay, you can consolidate all your bills in one hub to help you manage all your bills conveniently in one place. Online bill pay also allows you to set up automatic payments to make sure you never miss one. You can also easily transfer money between your accounts or pay from or to your accounts using Zelle.

You can feel secure accessing the mobile app, as you can set up a touch or face ID or a passcode. You can also freeze your card to prevent new purchases or unauthorized transactions or set up account activity alerts for extra security.

If you use wearable tech, like a smartwatch, the Discover app connects to several devices to view your accounts from there too.

Discover Credit Cards

Discover offers several credit cards that come with excellent customer service and excellent rewards. Discover credit cards have no annual fees, and if you want to get pre-approved, the process is done online, is easy and free, and does not affect your credit score. 

You can easily compare Discover credit cards on their website, depending on the bonus categories you are looking for and the APR. For example, a Discover credit card with miles can be an excellent option for someone who travels often. Easily find the best Discover credit card for you. It is also worth noting that although Discover credit cards have a wide acceptance, they still have a lower one than Visa or Mastercard.

If you are looking into building or improving your credit score, a secured credit card is also a way to help you.

  • Discover it® Cash Back Credit Card: This cash back card is best for you if you are interested in earning a cash bonus for your everyday purchases at different places, like grocery stores quarterly.
  • Discover it® Student Cash Back Credit Card: If you are a student and want to earn cashback, this credit card allows you to earn it o everyday purchases every quarter. It also comes with a bonus statement credit if your GPA is 3.0 or higher.
  • Discover it® Secured Credit Card: If you want to earn cash back rewards at gas stations and restaurants and build or improve your credit score, this Discover card may be a good option.
  • Discover it® Student Chrome Credit Card: This Discover card is best if you are a student who wants to earn cash back rewards for your purchases at gas stations and restaurants.
  • Discover it® Travel Credit Card: If you travel often, this card offers unlimited 1.5 x miles for every dollar you spend on anything, like airfare or groceries.
  • Discover it® Gas & Restaurants Credit Card: You can earn cash back at gas stations as well as dining rewards when you eat out at restaurants.
  • Discover it® Business Credit Card: If you are a business owner, earn cash back on every dollar you spend on anything.

As a Discover cardholder, you also get other perks, such as an unlimited cashback match. Some of the credit cards have this feature, in which Discover will match the cash back you have earned at the end of the first year with no minimum or maximum, a dollar-to-dollar match.

To get a credit card with Discover, you can apply online on their website or call them on the phone. Before you do that, you may want to check your credit score on the Discover free credit scorecard.

Discover Online Banking Products

Discover offers a checking account, an online savings account, a money market account, a certificate of deposit account, and retirement accounts with no monthly fees. All conveniently managed through a free online banking portal and a top-rated mobile app.

Checking Account

With this checking account, you can earn cashback on your debit card purchases. The checking account also offers no monthly maintenance fees or minimum opening deposit and access to over 60,000 no-fee ATMs. You can also get a free replacement debit card, standard checks, official bank checks. You can use online bill pay to pay bills from your account and use Zelle to transfer money to and from U.S. accounts.

Online Savings Accounts

Discover offers a high-interest savings accounts with a competitive APY and no monthly fee, and interest compounded daily and paid back to you every month. It has no minimum opening deposit, and it does not charge an insufficient funds fee either.

Money Market Account

Earn interest, but also get access to your money via ATM with a Money Market Account. With a competitive APY, this account has no minimum balance fees and lets you withdraw cash at more than 60,000 no-fee ATMs. Also, get a free replacement debit card, standard and official checks, and access to free online bill pay.

Certificate of Deposit Accounts

With terms from 3 months to 10 years, Discover offers competitive rates on their CD accounts. The longer the CD term, the higher APY you can earn on your money. This account has no fees.

Retirement Accounts

Discover offers a Roth IRA and a Traditional IRA with no fees to help you save for your retirement. Roth IRAs are funded with after-tax dollars, so earnings and qualified withdrawals are tax-free, and contributions are not deductible. In contrast, Traditional IRAs are funded with pre-tax dollars, so earnings are tax-deferred, and contributions are tax-deductible to certain income limits.

Discover Loan Products

Discover offers personal loans, home loans, and student loans aside from their banking products and cards.

Personal Loans

Discover Personal Loans can help you afford any large purchase or consolidate higher-interest debt. You can get a personal loan with no origination fees, flexible repayment terms between 36 and 84 months, and fixed monthly payments. With their fixed rates, you will know exactly how much you need to pay back each month. And if you return the loan amount within 30 days, you will pay no interest. The application process is fast and straightforward, with same-day approval in the majority of the cases.

Home Loans

Discover offers home equity loans and mortgage refinance loans. With a home equity loan, you get to keep your current mortgage and borrow cash against it, whereas with a refinance mortgage, you will be swapping your existing mortgage for one with better terms for you.

The home loans are available for amounts between $35,000 and $200,000 and have fixed rates. They come with zero origination fees, zero appraisal fees, and no cash is required at closing.

Student Loans

Discover’s student loans help cover up to 100% of college costs and give you cash rewards if you get good grades. The student loans come with no fees and a choice of fixed or variable interest rates. Discover also offers a free search tool to help you find scholarships.

Get Started with Discover Online Banking

Getting started with any of the Discover products is simple and straightforward. You can complete the process easily online or talk to a customer service representative on the phone.

You can get pre-approved for credit cards, which will not affect your credit score, or directly apply for one. For accounts, choose between savings, checking, money market, CD, or retirement accounts and follow the application process on their website. You can also easily apply for a personal loan, student loan, and home loan on their website or talking to a U.S. loan expert to walk you through the process.

FAQs About Discover (3)

  • Is Discover a good credit card?

    Discover is a trusted and well-known company that has been in the credit card industry for a long time. They offer a variety of cards to suit different needs, from secured cards to student cards. They also offer cash back and reward cards. Discover is a solid, reliable card issuer, and its cards are accepted worldwide.

  • What credit score is needed to get a Discover credit card?

    Discover cards are great for people with credit scores of 670 or higher and people who don’t have a credit score. If you don’t have a credit score, you can apply for a Discover it Secured or a Discover it Student Cash Back, which does not require a credit score. Other credit cards may require credit scores of 750 or higher.

  • Which Discover card is easiest to get?

    Discover it Student Cash Back, Discover it Student Chrome, and Discover it Secured are easier to qualify for since they don’t require a credit history to apply. The Discover it Secured requires a $200 minimum security deposit.

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Products and Services

Why Us

Online Banking

Offering a range of products, like checking and savings accounts, loans, and credit cards, you can manage all your accounts online or through a mobile app.

Credit Card Rewards

Discover a wide range of credit cards offering cash back and miles rewards depending on what you are looking for.

Loans Matched to You

Explore personal loans for consolidating debt and saving more, student loans to cover 100% of your college expenses, or home loans with a low fixed rate.

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Improve Your Financial Life

Get started with banking with Discover, opening an account, or getting pre-approved for a credit card. Or easily apply for a personal, student, or home loan from the convenience of your home.

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This page’s information results from independent research by our editorial team, who does their best to reflect factual and accurate information about the financial institution and its products. Financial institutions are not responsible for the content posted on Banks.com; visit the financial institutions’ website or contact it directly if you have any questions.

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