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.Â
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.Â
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.Â
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.
