Why are Discover Credit Cards Popular?

 

Why are Discover Credit Cards Popular? 

Discover isn't just a credit card company or credit card issuer it is also a credit card network that is why at stores you'll see signs that say we accept visa Amex MasterCard and discover the difference here is that discover only issues their own credit cards they don't use or go through any other outside banks 

visa and MasterCard on the other hand do use outside banks to issue their credit cards for example they use banks such as chase bank of America and capital one the other credit card network American express also only issues their own credit card so they do not use any other outside banks 

this means that discover has full control of their credit cards from start to finish this includes the reward multipliers and annual fees of the actual credit cards but also how that transaction is actually processed speaking of discovered credit cards 

Discover only offers seven different credit card products this doesn't even come close to comparison to some of their competitors like chase has 35 credit cards and even American express or Amex has 17 credit cards 

despite offering just a small amount of credit cards why does everyone and their mom own a discover card it all comes down to just one credit card in particular and that's the discover it cash back card 

arguably this is the most popular discovered credit card right now and it's for good reason pound for pound it's kind of similar to chase's cash back beast the chase freedom flex both have five percent cash back rotating quarterly categories and both have no annual fees 

now let me be clear because I don't want to hurt any chase fanboys' feelings like my own the chase freedom flex card is the better card hands down but wait that's only if you could get approved for one 

see the thing is chase credit cards are notoriously hard to get as your first credit card if you're just starting out on your credit card journey you have no credit cards you're probably not going to get approved for a chase credit card 

even if you are an authorized user on someone else's account and have a slight credit history you still may be denied because discover credit cards are relatively easy to get now I say relatively easy to get because you still have to have a decent credit score of mid 600s or higher to get approved for one 

the big difference here though is that discover is not nearly as stingy on the length of credit history as chase this is the reason why most people probably have a discover credit card 

I'm sure that everyone that you know with a discovered credit card or maybe it's you that has a discovered credit card probably got it as their first or second ever credit card 

if i'm wrong let me know because maybe people have never even heard of discover before on the reel though if you do have a discover credit card i hope that it's not your only credit card and i'll be going over 

why in just a second but i will say now that if you don't have any credit cards yet and you want to get started on your credit card journey i would highly suggest looking into discover credit cards because 

there's a higher probability that you will be accepted then after having that discovered credit card for like half a year or two a year you'll build up that credit history and you could then move on to other companies like chase back to the credit cards themselves 

if you do have a discover card you probably have the discover it cash back card or its sister the student discover it cash back card these cards are pretty much identical 

they both have that five percent cash back rotating quarterly categories and no annual fees it's just that for the most part if you're a student you probably have the student version 

what's interesting though about all the other credit cards that discover offers is that they all have no annual fees that's right no matter which credit card you choose with them

you're not going to be paying an annual fee yes that's a good thing but at the same time there's a reason for it unfortunately just like every other credit card company out there there are cons to discovering credit cards like 

if you want any sort of benefits or credits that come with your credit cards do not look into discovering there are no discover credit cards that offer things such as uber credits food credit airport lounge access or even TSA pre-check or global entry credit their 

credit cards are very plain and simple and straightforward but hey i know some people really enjoy simplicity so discover cards could be a good fit you don't have to track any credits or keep up with any benefits on any of these discover credit cards and of course 

you don't have to worry about getting your money's worth every year because there's no annual fee on any of these cards after all these discover credit cards are more focused towards beginners 

those who are just starting on their credit card journey so it kind of makes sense how simple and straightforward that these cards are but at the same time it's like people who their favorite flavor of ice cream is vanilla just plain vanilla no sprinkles no cone nothing just emptiness but again sometimes people like that 

so if simplicity is your thing go with discover however i like a little flavor with my credit card so that's why discover is not really for me talking about flavor though discover has no taste when it comes to credit card names 

i know it's not necessary it's not essential to have a good name for your credit card products but at the same time don't just name your credit cards after what they do like discover it travel credit card discover 

it nhl credit card discover it chrome gas and restaurant credit card they have all the same discover it name just with a different last name like i said earlier there are so little cards to choose from discover only has seven different credit card products and in reality people are probably going to choose 

either one or two of them over all the others and it's not even a close comparison i'm fairly confident that even if discoverer just had one credit card they discover it cash back card that 

they would still be afloat because there's that many people that use that credit card and if you're looking to expand your credit card collection to have travel credit cards or even credit cards for food then look beyond discover does offer a travel credit card that earns 

you 1.5 miles on every purchase and this is kind of similar to the chase freedom unlimited card but the big difference here is that discover miles are only worth around 1 cents per point 

you have very limited redemption options for them usually the case with travel credit cards or cards with annual fees is that you spend money and you collect credit card points 

those same points can then be used on a bunch of different things such as booking travel through a travel portal or transferring those points to a travel transfer partner with discover 

however you get none of that there is no discover travel portal and discover has no travel transfer partners instead you could use your discover miles for things such 

as cash back amazon paypal or statement credit on a recent travel related purchase don't get me wrong sometimes that's all you really need for example you charge a flight on your discover card 

use your discover miles to get statement credit that will cover that said flight purchase so boom that's a free flight but the problem here is you'll get way more flexibility and way more value from your credit card 

points with other credit card companies like with chase and amex you could easily get point valuations of at least 1.5 cents per point all the way up to 8 cents per point when you transfer 

your points to a travel transfer partner earlier i said that you should not only have discover credit cards and here is why i'm one thousand percent correct if you have been paying attention so far discover credit cards have very limited potential they are not the greatest to grow with or use 

when you are further along your credit card journey now i know someone out there with 15 credit cards is going to be like i just applied for the discover it cash back card i find value in them or something 

like that relax my guy congratulations but i'm still convinced that there are other credit cards out there that will give you more value than a simple discover it card discover credit cards are really great at 

one thing and one thing only to start your credit card journey but if you want to earn some serious value from your credit cards i would suggest looking elsewhere look past discover cards at the end of the day though discover still doing a great job with their credit cards and they're a pretty successful company

so i'm sure they know what they're doing and that's why you see so many discovered credit cards out there and why discover credit cards are so popular and if you want to see why city chaser amex credit cards 

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