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Review

Review of the Discover it® Business Card

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By Kat Tretina Feb 07, 2020 | Updated Jun 22, 2021
Our rating
Min. credit level: Good
Annual Fee: $0
Regular APR: See Terms

Discover it® Business Card

Our rating
Good Min. credit level
Jump to Alternatives

If you just bought all new office furniture or a copier for your business without using a rewards credit card, you left money on the table. A good rewards credit card will let you earn cash back on your business purchases, helping you stretch your budget further.

If you’re a small business owner looking for a credit card and you don’t want to worry about justifying an annual fee, the Discover it® Business Card might be for you.

Offering 1.5% cash back on all purchases, Discover will also match your cash back for your first year. That means you’ll earn the equivalent of 3% cash back in your first year of using the card.

There isn’t much else to this card; just a solid flat-rate rewards program that provides the same amount of cash back for every purchase.

With no annual fee, it’s a good option for business owners who need access to a line of credit for their business operations.

Discover it® Business Card
  • Min. credit levelGood
  • Annual Fee$0
  • Regular APRSee Terms

Our Rating: 4 Out of 5 Stars

We give the Discover it Business Card 4 out of 5 Stars. It’s a solid business card that allows you to earn cash back on all purchases. However, its anemic benefits do reduce the card’s value.

Why We Like It

  • 1.5% cash back on all purchases
  • Cashback Match for the first year
  • Cash back never expires
  • Ability to sync to Quicken, QuickBooks, and Excel
  • No annual fee
  • No foreign transaction fees
  • Excellent customer service

Why It Could Be Better

  • Cashback Match is limited to your first year
  • Lackluster benefits
  • No travel perks

Insider Advice: Getting the Most Out of Your Card

  • Compare with other business credit cards: If your work requires you to travel often, another business credit card will likely offer more rewards and perks than the Discover it Business Card.
  • Use for general expenses: By using your card for general business expenses, you can earn 1.5% cash back on every purchase and simplify your bookkeeping.
  • Enjoy the Cashback Match: Use your card during your first year, and Discover will match all of the cash back you earn. That gives you a cash back value of 3% for the first year.
  • Redeem your rewards for gift cards: Redeem your rewards for gift cards to get the best deal, allowing you to get an extra $5, $10, or even $20 in value.
  • Use the card when traveling internationally: With no foreign transaction fees, the Discover it Business Card is a decent option when traveling to another country. However, Discover isn’t accepted widely outside the U.S., so carrying a Visa or Mastercard business credit card as well is a smart decision.

The Rewards

Earning

Spending Rewards
  • 1.5% cash back on all purchases
Introductory Bonus Offer
  • Cashback Match: New cardmembers get double cash back in the first year (awarded after the first year)

With this card you can earn unlimited cash back on all purchases.

You’ll earn 1.5% cash back on every purchase. But, in your first year, Discover will match your cash back. You’ll get those extra rewards at the end of the first year.

That means you’ll earn a 3% cash back equivalent on every purchase. That’s an excellent reward for a card with no annual fee. It’s a better flat rate than you’ll find with almost any other credit card, but after the first year it drops to a more typical 1.5%.

It’s a good idea to compare this card to alternative business cards before applying. You could earn more points or higher cash back in select categories. Or, to compare with another flat-rate rewards card, the Capital One Spark Cash for Business may offer more overall value depending on your level of spending. The Spark card provides 2% cash back on all purchases, but it also has a $95 annual fee after the first year.

Redeeming

Redeeming your cash back rewards is very simple with Discover. You can redeem it in several different ways, including:

  • Statement credits
  • Bank account deposits
  • Charitable donations
  • Gift cards

Statement credits are quickest and easiest way to get your rewards, and they don’t lock you into a single merchant like a gift card. However, you’ll sacrifice some value by opting for a statement credit.

We recommend going with gift cards as your redemption method whenever possible. By going this route you get more value for your money. Discover will add at least $5 to every gift card redemption, sometimes more. For example, you can get a $100 gift card to Hotels.com for just $80 worth of cash back rewards, a 25% increase in value.

The downsides to redeeming for gift cards are that physical gift cards can take some time to arrive at your place of business, and you’re limited to shopping with the co-branded merchant. However, there are also electronic gift card options which you can get immediately, and there are hundreds of these to choose from.

The Benefits

  • FICO Credit Scorecard: Access your FICO Score 8 whenever you’d like for free, based on your TransUnion credit report.
  • Expense tracking: Streamline your bookkeeping by connecting to tracking software like Quicken, QuickBooks, and Excel.
  • Cash at Checkout: At eligible retailers you can get cash at checkout, a handy way to get some money without going to an ATM. The extra cash will be counted as part of your purchase.
  • Free employee cards: You can add up to five employee cards to your account.
  • $0 Fraud Liability Guarantee: If your card is lost or stolen, you are not liable for any fraudulent charges made to your account. Contact customer support immediately if you suspect fraud.
  • Fraud Protection: Discover monitors your account around the clock for suspicious or unusual activity.
  • Free Social Security Number Alerts: Discover searches for your Social Security number on thousands of risky sites and will alert you if your information was compromised.
  • Reports to consumer and business credit bureaus: Discover will report your card activity to the consumer credit bureaus and three business credit bureaus: Equifax Business, Experian Business, and Dun & Bradstreet.

The Terms & Fees

Purchase APR Balance Transfer APR Cash Advance APR
See Terms for See Terms, then See Terms See Terms See Terms
Annual Fee Foreign Transaction Fee Balance Transfer Fee Cash Advance Fee
$0  None See Terms See Terms
Penalty APR Late Fee Returned Payment Fee
None See Terms See Terms

The fees for the Discover it Business Card are very straightforward. Unlike some business credit cards, the Discover card has no annual fee.

There’s a nice introductory offer for new purchases: You’ll get See Terms for See Terms after account opening, giving you quite a while to pay off some business expenses.

There is no balance transfer offer, so there’s no advantage to transferring a balance from a card with a higher interest rate over to this card.

There are no foreign transaction fees. However, Discover is not widely accepted internationally, so it makes sense to carry another card when traveling to a different country.

What Is the Credit Limit?

If you apply for the Discover it Business Card and are approved, your credit line will be at least $500. However, you may qualify for a credit increase after a few months of making your payments on time and keeping your account in good standing. We recommend requesting a credit line increase every 6 to 12 months if you want to raise your limit.

The Bottom Line

The Discover it Business Card is a smart option for new business owners who want to earn decent cash back rewards (and who doesn’t?).

With the ability to earn 3% cash back your first year, it’s a great card to use for essential business purchases, like office supplies and equipment. Redeem those rewards for gift cards and you can stretch their value even further.

The value of the card does decline after the first year, as you’ll no longer be eligible for the Cashback Match. However, 1.5% cash back is still a good value for a business credit card with no annual fee.

This makes it a good choice for business owners looking to earn rewards outside of select spending categories, where other cards will be more profitable.

There aren’t many cost-saving or travel benefits, which is probably the biggest downside of this card, but the ability to merge your transactions with QuickBooks, Quicken, or Excel is a convenient feature.

If you’re looking for a card with more rewards or fancy bells and whistles, like bonus categories or airport lounge access, take a look at some other business credit card options below.

How to Apply for the Discover it Business Card

You can apply for the Discover it Business card securely on Discover’s website.

After submitting your application, you’ll typically receive a decision from Discover immediately. However, there are some cases where it can take a few days or even longer to hear back, such as if the company needs to verify your business information.

If approved, you’ll get a notification and it will list your credit limit. If you’re not approved, you’ll receive a letter in the mail detailing why you were denied.

Qualifications and Requirements

  • Business structure (sole proprietorship, partnership, corporation, or LLC)
  • Business name
  • Business mailing address
  • Years in business
  • Business revenue
  • Personal information, including address and Social Security number
  • You must be at least 18 to apply
Discover it® Business Card
  • Min. credit levelGood
  • Annual Fee$0
  • Regular APRSee Terms
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Alternatives to the Discover it Business Card

While the Discover it Business can be a great card for new business owners, there are other options that may be a better fit if you’re looking for more benefits and perks.

Ink Business Cash® Credit Card

Our rating
Min. credit level Excellent
Details
Annual Fee $0
Regular APR 13.24% - 19.24% Variable
Apply Now

securely on the issuer's website

If you’re looking for a card that offers higher rewards for routine business expenses, the Ink Business Cash® Credit Card (Review) can be a great choice. Offering 5% cash back at a variety of merchants, you can rack up rewards quickly for your regular expenses.

Even though it also has no annual fee, it offers more benefits than the Discover it Card, including auto rental collision damage waivers and shopping protections. For business owners, that could be a major factor in deciding which card to choose.

Besides being able to get 5% cash back on office supply purchases, you can also get 2% cash back at gas stations and restaurants. Those are common spending categories for small business owners.

Spending Rewards
  • 5% cash back on Lyft rides
  • 5% cash back on the first $25,000 spent each year:
    • At office supply stores
    • On internet, cable, and phone services
  • 2% cash back on the first $25,000 spent each year:
    • At gas stations
    • At restaurants
  • 1% cash back on all other purchases, with no limit
Introductory Bonus Offer
  • $750 cash bonus for spending $7,500 in the first 3 months after account opening
  • Free Employee Cards: The Ink Cash card allows you to get up to 70 employee cards and you can set spending limits on them. The Discover card only allows up to five.
  • Reports to Business Credit Bureaus: Chase will report positive account activity to Dun & Bradstreet, Equifax Business, Experian Business, and the Small Business Financial Exchange.
  • Purchase Protection: While the Discover it Business Card does not offer purchase protection, the Ink Business Cash does. Eligible purchases are covered for 120 days against theft or damage.
  • Extended Warranty Protection: Eligible items with warranties of three years or less can have those warranties extended by up to an additional year. That’s especially helpful for small business owners who frequently need to buy expensive equipment for their companies.
  • Travel and Emergency Assistance Services: Call the number on the back of your card for emergency help while traveling, such as medical referrals or prescription drug assistance.
  • Auto Rental Collision Damage Waiver: Discover discontinued offering auto rental collision damage waivers, a real loss for business travelers who frequently rent cars. But the Ink Business Cash gives you coverage against theft and damage when you rent an eligible vehicle, as long as you decline the car rental company’s own insurance.
  • Purchase APR: 0% for 12 months, then 13.24% - 19.24% Variable
  • Annual fee: $0
  • Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
  • With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
  • With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
  • No Annual Fee
  • Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
  • 0% introductory APR for 12 months on purchases

Ink Business Preferred® Credit Card

Our rating
Min. credit level Excellent
Details
Annual Fee $95
Regular APR 15.99%-20.99% Variable
Apply Now

securely on the issuer's website

If you’re looking for more rewards and benefits and are willing to step up to a card with an annual fee, check out the Ink Business Preferred® Credit Card (Review).

Not only can you earn more rewards for travel than you can with the Discover it Business Card, but you can also earn 3X points per $1 spent on social media advertising. That reward category is a huge perk for business owners trying to make a name for themselves.

Spending Rewards
  • 5X Ultimate Rewards points per dollar on Lyft rides
  • 3X Ultimate Rewards points per dollar on the first $150,000 spent per year in combined purchases on:
    • Travel
    • Shipping
    • Internet, cable, and phone services
    • Advertising purchases made with social media sites and search engines
  • 1X Ultimate Rewards point per dollar spent everywhere else
Introductory Bonus Offer
  • 100,000 bonus points for spending $15,000 in the first 3 months after account opening
  • 25% point bonus when redeeming for travel expenses through Chase Ultimate Rewards
  • Referral Bonus Points: Invite other business owners to apply for the card, and get 20,000 bonus points for every one that is approved. You can earn up to 100,000 points a year from referrals.
  • Free Employee Cards: You can free employee cards for up to 70 workers, much more than the five you’ll get with Discover. If you need more than 70, you can request to split your account with a separate credit limit and an additional 70 free employee cards.
  • Reports to Business Credit Bureaus: Chase will report positive account activity to Dun & Bradstreet, Equifax Business, Experian Business, and the Small Business Financial Exchange.
  • Cell Phone Protection: If you pay your monthly cell phone bill with this card, you’ll get coverage against theft or damage, up to $600 per claim with a $100 deductible. That’s a fairly valuable benefit that many other cards, like the Discover it Business, don’t offer.
  • Shopping Protections: With this card, you’ll get Purchase Protection and Extended Warranty Protection.
  • Travel Protections: You’ll be able to access Travel and Emergency Assistance Services, Trip Cancellation/Trip Interruption Insurance, and an Auto Rental Collision Damage Waiver, benefits the Discover it Business Card doesn’t have.
  • No foreign transaction fee
  • Annual fee: $95
  • Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
  • With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
  • With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
  • Redeem points for cash back, gift cards, travel and more – your points don’t expire as long as your account is open
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
  • Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
  • $95 Annual Fee

Capital One Spark Cash for Business

Our rating
Min. credit level Excellent
Details
Annual Fee $0 intro for first year; $95 after that
Regular APR 20.99% (Variable)
Apply Now

securely on the issuer's website

If you’re looking for higher rewards on all of your purchases, not just select categories, check out the Capital One Spark Cash for Business (Review).

While it does have an annual fee of $95, it’s waived for the first year. That allows you to get used to the card, giving you some time to see if it’s worth the cost before getting hit with the fee. It also has more benefits than the Discover it Business Card.

Spending Rewards
  • 2% cash back on all purchases
Introductory Bonus Offer
  • $500 cash bonus for spending $4,500 in the first 3 months
  • Free Employee Cards: You can get an unlimited number of free employee cards.
  • Quarterly and Year-End Summaries: Like the Discover it Business Card, the Capital One Spark Cash card can help simplify your taxes. You’ll get custom, itemized reports of your spending for both primary and employee cards.
  • Downloadable Purchase Records: Download your records to Quicken, QuickBooks, or Excel.
  • Spark Business Customer Service Representatives: Speak with specially trained reps whenever you’d like for help with any questions you have. Call toll-free, 1-800-867-0904.
  • 24/7 Concierge Service: Call the number on the back of your card for non-emergency assistance, such as help with travel arrangements or reservations.
  • Shopping and travel protections: Purchase Security, Price Protection, Rental Insurance Coverage, Lost Luggage Reimbursement, and more
  • No foreign transaction fee
  • Annual fee: $0 intro for first year; $95 after that
  • Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions
  • Purchase above your credit limit with no hassle and no over-limit fees
  • $0 annual fee for the first year; $95 after that
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • $0 Fraud Liability if your card is lost or stolen
  • Rewards won’t expire for the life of the account, and you can redeem your cash back for any amount
  • No foreign transaction fees

The information related to Capital One Spark Cash for Business has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

The Business Platinum Card® from American Express

Our rating
Min. credit level Good
Details
(Rates & Fees)
Annual Fee $595
Regular APR 14.24% - 22.24% Variable

If you’re a business owner who is frequently on the move and looking for more rewards and luxurious benefits, The Business Platinum Card® from American Express (Review) is a terrific option.

It’s on the other end of the spectrum of the Discover it Business Card, charging an annual fee of $595. But its benefits and rewards can more than make up for it.

Spending Rewards
  • 5X Membership Rewards points per dollar spent on flights and prepaid hotels on the American Express Travel website
  • 1.5X Membership Rewards points per dollar spent on eligible purchases of $5,000 or more (an extra .5 points per dollar, up to 1 million extra points per year)
  • 1X Membership Rewards point per dollar spent on all other purchases
Introductory Bonus
  • 100,000 bonus points for spending $15,000 on eligible purchases within the first 3 months of Card Membership
  • Global Lounge Collection: Complimentary access to Priority Pass, Centurion, American Express International, Delta Sky Club, Escape, Airspace, Lufthansa, and Plaza Premium Lounges
  • Up to $200 in airline fee statement credits annually: Good for incidental costs like checked bags and inflight food, not tickets, at your selected airline
  • Global Entry or TSA PreCheck application fee credit: A statement credit for the application fee of either Global Entry ($100 once every four years) or TSA PreCheck ($85 once every four-and-a-half years)
  • Complimentary elite hotel statuses: Hilton Honors Gold status and Marriott Bonvoy Gold Elite status
  • $200 Dell statement credit: Enroll to get an annual $200 statement credit for U.S. purchases with Dell: $100 from January through June, and $100 from July through December
  • The Hotel Collection: A $100 hotel credit and room upgrades when available for every eligible two-night stay
  • Fine Hotels & Resorts Program: Daily breakfast for two, room upgrades when available, amenities valued at $100, and more at eligible properties
  • Point transfer: To a selection of airline and hotel partners
  • No foreign transaction fee
  • Annual fee: $595

Enrollment required for select benefits; terms and limitations apply.

The Business Platinum Card® from American Express (Rates & Fees)

The information related to The Business Platinum Card® from American Express has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Discover it® Business Card
  • Min. credit levelGood
  • Annual Fee$0
  • Regular APRSee Terms
Are you a business owner looking to boost your rewards? See some other great card options in the Best Business Credit Cards.

Do you use the Discover it Business Card? Let us know how you like it by leaving your own review below!

For rates and fees of The Business Platinum Card® from American Express, please click here.

At a glance

The Discover it Business Card is a somewhat rewarding option for business owners. There aren’t many enticing benefits, but you’ll earn 1.5% cash back on every purchase, which is doubled for your first year thanks to Discover’s Cashback Match.

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