A Visa credit card is a wise choice for a number of reasons: It's one of the most popular credit cards in the world, it's accepted in more than 200 countries and territories and, with Visa's Zero Liability Policy, you won't be held responsible for unauthorized transactions made with your Visa card. Discover is often a good choice as a first card, but their offers aren't particularly competitive if you have established credit history. 18 months is a bit longer than currently more typical 15mo 0% offers on no-AF cashback cards, but not enough to outweigh that those usually come with $200 SUBs. You still make monthly payments, and can build credit with responsible use. The Discover it® Secured Card can help you build credit with responsible use2, like making your payments on time and in full each month. Payment history is reported to the credit bureaus.Why is a Visa card better?
Is it smart to get a Discover card?
Does Discover card improve credit score?
But not everyone who requests a credit increase from Discover will be able to get one. Discover says that those who are eligible for a credit line increase would likely include: Those with a good debt-to-income ratio. Those with a positive payment history and an account in good standing.
Where Discover credit cards shine for their lack of fees, they come up short in terms of global acceptance and available cardholder perks. Visa credit cards stand out for their rewards rates and cardholder benefits, but only with the top cards available within the network.
Common reasons applicants are denied credit cards include low credit scores, no credit history, inadequate ratio of income vs. expenses, and not meeting minimum age requirements.
Discover Card advantages
Discover® Cardmembers can earn cash back from purchases made using their Discover credit card. Different cards offer different rewards programs, such as cash back or Miles, so you'll want to choose the one that rewards your spending habits.
It's generally recommended that you have two to three credit card accounts at a time, in addition to other types of credit. Remember that your total available credit and your debt to credit ratio can impact your credit scores. If you have more than three credit cards, it may be hard to keep track of monthly payments.
Discover is accepted nationwide by 99% of the places that take credit cards. You can use your Discover Card to make withdrawals for cash advances. Discover Card acceptance is convenient at gas stations, restaurants, online, and at major retailers for cash back rewards.
The cons of banking with Discover Bank include no physical branch presence, no specialty CDs, and no brokerage accounts.
For example, whereas Visa charges 1.79% (plus $0.08) per in-person transaction, Discover charges 2.05% (plus $0.08). Because many small businesses have narrow profit margins to begin with, a 0.26% difference in processing fees is certainly enough to refuse the more expensive credit card. This is changing, however.
No annual fee card advantages
You simply handle purchases, any balance transfer or other account activity without paying or financing an annual fee on top of it all. Because every Discover credit card has No annual fee, your rewards simply stay in your pocket.
To qualify for this card, you generally need a good to excellent credit score, which typically means a FICO score of 700 or higher for Discover card approval. Think of it as the red carpet of credit scores, folks!
There are some differences around how the various data elements on a credit report factor into the score calculations. Although credit scoring models vary, generally, credit scores from 660 to 724 are considered good; 725 to 759 are considered very good; and 760 and up are considered excellent.
Your card may not get approval if you've reached your credit limit, or if you attempt a purchase that exceeds your available credit. A large purchase that doesn't fit your spending patterns may appear suspicious to your credit card company, so they may decline the transaction.
The four major credit card networks are Mastercard, Visa, American Express and Discover.
While the answer to is Discover card hard to get approved for is no, that doesn't mean everyone is approved automatically. A person must still meet all of the requirements outlined by the website at the time of the application.
A Discover it® Secured credit card can help you build credit with responsible use. It's among the secured cards that have no annual fee, offers rewards, and allows to upgrade to an unsecured card after six consecutive on-time payments and six months of good status on all your credit accounts.
Remember to look at things like your credit mix, utilization ratio and other criteria we mentioned above before applying for a credit limit increase. Also, keep new credit limit increase requests to no more than every four to six months, or even better, once a year.