discover card phone number check balance

MANAGE YOUR CREDIT CARD ACCOUNT · Pay your bill online · View your account activity · Check your card balance · Update your account information. Calendar - View your credit card balance alongside your Spend account balance as well Mobile - Manage your credit card on the go with our PNC Mobile app. Check out Discover card online payments FAQ and learn how to pay bill online. Paying your Discover card bill online is fast, easy, and secure.

: Discover card phone number check balance

Discover card phone number check balance
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Discover card phone number check balance

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Discover Financial

American financial services company

Discover Financial Services is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulsenetworks, and owns Diners Club International. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders. Discover is currently headquartered in the Chicago suburb of Riverwoods, Illinois.[2]

History[edit]

In 1981, Sears purchased the Dean Witter Reynolds brokerage firm organization and Coldwell, Banker & Company (real estate franchise)[3] as an attempt to add financial services to its portfolio of customer services. In 1985, Sears also acquired the Greenwood Trust Company. Altogether, these companies operated as a Sears subsidiary called Dean Witter Financial Services Group, Inc. The plan to create a one-stop financial-services center in Sears stores was not as successful as Sears had hoped. Its credit card operations accounted for a loss of $22 million in the fourth quarter of 1986, and a loss of $25.8 million in the first quarter of 1987.[4]

On March 1, 1993, Sears sold off its financial services branch as a new independent publicly traded company called Dean Witter, Discover & Co. with Dean Witter Reynolds in charge. This company had a stock ticker symbol of DWD.

In 1995, Discover Card Services, Inc. changed its name to NOVUS Services, Inc. to distinguish its network functions from the Discover Card.

In 1997, this company merged with investment banking house Morgan Stanley to become Morgan Stanley Dean Witter, Discover & Co.

Discover and Novus retired acceptance mark (still seen in many places)

On February 1, 1999, the company rebranded itself as Discover Financial Services, Inc.[5] The NOVUS logo was retired, replaced by the Discover Network logo.

In April 2005, Morgan Stanley announced that it would divest Discover Financial Services as an independent company within six months. By June, industry sources reported that Morgan Stanley was reassessing its plan to spin off Discover. In August, the company confirmed it would not sell Discover. However, on December 19, 2006 during a fourth quarter earnings report, Morgan Stanley CEO John J. Mack announced Discover would be spun off as a standalone publicly traded company by the end of August 2007, stating that both companies will be better positioned for growth and success as separate entities.[6] Ahead of schedule on June 30, 2007, Discover was spun off as an independent, publicly traded company.[7] It began trading on the NYSE for the first time on July 2 as DFS.

Acquisition of The Greenwood Trust Company[edit]

The Greenwood Trust Company was founded on August 30, 1911 and was based in Greenwood, Delaware. It was acquired in 1985 and renamed Discover Bank on August 1, 2000.[8] Discover Bank is mainly an online financial institution that offers many financial services such as checking accounts, savings accounts, and money market accounts. However the first and original location of the Greenwood Trust Company on 502 East Market Street is still operating and is the only physical banking location of Discover Bank. Discover Bank operates as a subsidiary of Discover Financial Services and is FDIC insured.[9]

Acquisition of Pulse[edit]

In 2005, Discover Financial Services acquired Pulse, an interbank electronic funds transfer payments network. This allowed Pulse and its more than 4,000 member banks, credit unions, and savings institutions to join with the Discover Network's 4 million merchant and cash access locations. Additionally DFS now had the ability to market and issue debit and ATM cards. On February 13, 2006, DFS announced that it would begin offering Discover debit cards to other financial institutions, becoming the first credit card services company to compete directly with MasterCard and Visa in the rapidly growing signature debit market.[10]

Acquisition of Diners Club International[edit]

In April 2008, Discover Financial and Citigroup announced that Discover was purchasing the Diners Club International network from Citigroup for $165 million. In May 2008, the Federal Trade Commission approved the transaction and it was finalized on July 1, 2008.[11] Discover stated that the Diners Club network, which is a major network outside the United States, will be merged with the Discover Network, a major network in the United States. The creation of an international network for Discover and Diners Club cardholders allowed customers to expand their global reach. Diners Club cards will continue to be issued by Diners Club International licensees. At this time, Discover Bank has no plans on issuing Diners Club branded cards itself.

Acquisition of Student Loan Corporation[edit]

On September 17, 2010, Discover Financial Services announced it would acquire Citigroup-owned Student Loan Corporation for $30/share.[12] The deal was finalized on December 31, renamed Discover Student Loans, and expanded DFS's market presence and origination capabilities in private student loans.[13] In 2014, DFS launched Rewards for Good Grades, rewarding college and graduate students who get at least a 3.0 GPA (or equivalent) a one-time cash reward equal to 1% of the loan amount on each new Discover student loan. In 2015, DFS introduced an interactive tool called FAFSA assistant to help students and their families get ready to complete the FAFSA. The tool provides individualized tips and guidance based on personal situations.

Acquisition of Home Loan Center[edit]

On June 6, 2012, Tree.com, Inc. completed the sale of substantially all of the operating assets of its Home Loan Center, Inc. business to a wholly owned subsidiary of Discover Financial. In exchange for the assets sold, Discover paid an aggregate of $45.9 million including payments made prior to the closing which were applied to the closing price.[14] On June 12, 2012, Discover began originating mortgages with its launch of Discover Home Loans, offering prime variable- and fixed-rate conventional and FHA home mortgage loans. The Home Loans business was later sold in 2015.

Business developments[edit]

In 1989, Discover Network signs its 1 millionth merchant, a restaurant called Vincente's Restaurant in Wilminton, Delaware.[15]

In 1995, DiscoverCard.com was launched where consumers could apply for credit cards, pay bills, redeem rewards, receive email reminders, and earn extra rewards through online retail partners.

On December 22, 1998, the company introduced Discover Platinum, a premium card featuring new ways to increase rewards, low balance transfer and annual percentage rates, no annual fee, and expanded credit lines.

On December 21, 2001, fourth-quarter income at Discover grew 31% to $193 million, compared with $147 million the year before.[16]

In 2002, Discover launched the industry's first keychain credit card. It was named the Discover 2GO Card and was recognized as one of the "Best Products of 2002" by editors and reporters from Business Week and USA Today.

On March 5, 2002, the company announced that the Account Center at Discovercard.com had registered over eight million card members, an increase of 61% since January 2001.[17]

On September 1, 2002, Discover announced that Citibank would accept the Discover® Card for cash advances at its approximately 450 Financial Centers and more than 2,000 ATM locations nationwide.[18]

In 2003, Discover introduced gas and miles rewards cards. The Gasoline Card (renamed Open Road in 2007) awarded 5% Cashback Bonus on gas purchases. The Miles Card by Discover card allowed redemption with as little as 2,500 miles for non-flight reward options. Discover also introduced the option for paperless statements to minimize the impact on the environment and reduce clutter for customers.

In October 2004, the Supreme Court upheld a ruling in Discover's favor that challenged exclusionary policies of Visa and MasterCard, stating that Mastercard and Visa were violating antitrust regulations with anticompetitive practices. Before this ruling, Visa and MasterCard would not allow banks to issue a Discover or American Express card if they issued a Visa or MasterCard. Within days of the court ruling, Discover filed a lawsuit in federal court seeking damages from Visa and MasterCard. In October 2008, DFS was awarded $2.75 billion in damages, the third largest settlement at the time in U.S. history. Shortly after the Supreme Court ruling, Discover struck its first deal to have its cards issued by another financial institution, GE Consumer Finance, which began to issue credit cards for retailer Walmart and its wholesale warehouse stores, Sam's Club.[19] Transactions were processed on the Discover Network. Sam's Club exclusively accepted Discover for many years; since November 2006, it has also accepted MasterCard for purchases. In April 2014, Walmart announced that they were ending their relationship with Discover and would begin converting all Discover-branded cards to Mastercard beginning in June 2014.[20]

HSBC has issued Discover-branded credit cards processed through the Discover Network since its acquisition of card issuer Metris in late 2005. Metris had originally signed an agreement with Discover in September 2005, three months prior to the HSBC acquisition.

In 2006, Discover Network united with Visa, MasterCard, American Express, and JCB to form the Payment Card Industry (PCI) Security Standards Council, which helps to manage the ongoing payment account security throughout the transaction process. In this same year, DFS also launched the Discover Business Card, offering a single payment solution for small business owners. On July 14, 2006, DFS and First Data Corp., a global leader in electronic commerce and payment services, announced that First Data would offer Discover Network card services to small- and mid-sized merchants.

On March 13, 2007, Discover Financial Services announced the Discover Motiva card, the credit card that gives cardmembers cash rewards for making six on-time monthly payments in a row. This card was the industry's first credit card to give cash rewards for good credit management. Later in the year, DFS announced the Discover More card to replace the Discover Platinum card. The Discover More card was designed for consumers who use credit in many different categories and provided them with more ways to earn cash back on their purchases.

Following the 2007-08 financial crisis, Discover received about $1.2 billion in bailout funds under the Troubled Asset Relief Program (TARP). The company announced in 2010 that it had received approval to pay back the funds.[21]

In 2009, Discover Financial Services introduced the Spend Analyzer tool, an innovative easy-to-use online tool that provides cardmembers with a visual representation of their Discover card purchases for the past 24 months.

In 2010, Discover Financial Services and Softcard announced a strategic partnership to build a mobile payment network that utilizes mobile phones to make point-of-sale purchases.

In September 2012, Discover Financial Services was ordered to pay over $200 million in fines and customer reimbursements to settle accusations by U.S. federal regulators that it had engaged in deceptive telemarketing tactics.[22]

In 2012, Discover Financial Services announced a five year, $10 million commitment called Pathway to Financial Success to help bring financial education curriculum to public high schools across the U.S.

In 2013, Discover Financial Services and PayPal partnered to enable millions of participating merchants to accept PayPal easily through their existing relationship with Discover. In the same year, Discover Cashback Checking was introduced. This checking account product paid customers 10 cents for every debit card purchase, online bill payment, and check written. Additionally in this same year, the Discover it card was announced. The card rewards cardmembers with 5% cash back in rotating categories each quarter like gas and restaurants. Discover also introduced Discover Home Equity Loans, offering homeowners the opportunity to simplify their finances inclusive of supporting home improvement projects, paying for major expenses, or consolidating debt into a single, fixed monthly payment. Discover also became the first major credit card issuer to provide free access to FICO Credit Scores based on TransUnion data directly to its cardmembers on their monthly statements. Additional information provided with their FICO Credit Scores were educational content to help them better understand their scores.

In 2014, Discover Financial Services launched Discover it Chrome for Students, allowing students to establish credit while earning 2% at gas stations and restaurants.

In 2015, Discover Financial Services launched Discover it Miles, which rewards 1.5 miles per dollar spent.

In 2016, Discover Financial Services launched Discover it Secured for consumers looking to build their credit. Additionally, DFS expanded FICO Credit Scores based on Experian data for free to everyone via a platform called Credit Scorecard, which also included a summary of the data that helps determine an individual's FICO Credit Score.

In 2017, Discover Financial Services launched a free service called Discover Identity Alerts to notify cardmembers if their social security numbers are found on risky websites and if any new accounts are opened on their Experian credit report. All of these services are offered at no cost and do not impact credit scores.

In 2018, Discover Financial Services announced a change to its checking account rewards program, a new industry-leading reward of 1% cash back on up to $3,000 in qualifying debit card purchases each month. Additionally DFS also introduced First Fee Forgiveness, a new program that automatically waives the first eligible fee each calendar year for certain Discover accounts. Eligible fees included in the program were inclusive of insufficient funds, stop payment, excessive withdrawal and Money Market minimum balance fees. For its U.S.-based employees, DFS launched the Discover College Commitment, which offers employees a full ride bachelor's degree program covering tuition, required fees, books, and supplies to select online degrees. On September 12, DFS launched the Discover it Business credit card, offering unlimited 1.5% cash back on all purchases, as well as free business and security features.

In 2019, Discover Financial Services' subsidiary Discover Bank eliminated most fees on all of its deposit products. Additionally, Discover Home Equity Loans surpassed $1 billion in funded loans, helping over 20,000 homeowners with their financial goals. DFS also launched contactless cards this year.[23]

Advertising[edit]

From 1998 to 2007, Discover Card owned a billboard at One Times Square, just above the flagpole where the Times Square Ball is placed, until Toshiba bought the space. As a result, its logo could be seen on national television during New Year's Eve, while the ball dropped. Discover also sponsored the ball drop itself.[24][25]

From its opening in 2001 to 2012, Sugarloaf Mills Mall in Lawrenceville, Georgia was named Discover Mills in a naming rights partnership with Discover Card. The slogan for the mall was "Where Discover Card is the Smart Choice." It was the first shopping mall to have granted naming rights to interested companies.[26][27]

Since 2008, Discover has been the official credit-card partner of the National Hockey League. As part of this deal, Discover offers team- and league-branded credit cards as well as a 10% discount on purchases made from the NHL's online store using Discover.

In 2011 and 2012, Discover participated and won the Grand Marshal award for excellence in creative concept and design in the Tournament of Roses Parade in Pasadena.

From 2011 to 2013, Discover was the sponsor of the college football Orange Bowl.

In 2013, Discover was the sponsor of the BCS National Championship.

In 2017, Discover was named the first ever presenting sponsor and official credit card of the Big Ten Football Conference and Championship Game as part of a multi-year sponsorship.[28]

Business[edit]

In addition to its card products, Discover Financial Services also markets savings products, checking accounts, personal loans, student loans, identity protection, and home equity loans.[29]

Competitors[edit]

In the United States, Discover, as a card network, competes primarily with Visa, MasterCard, and American Express.[30] Unlike Visa and MasterCard, Discover directly issues its cards as both the card network and associated bank, through its Discover Bank unit.[31] When measured by card balances, Discover is the sixth largest credit card issuer in the U.S. behind JPMorgan Chase, Citigroup, Bank of America, Capital One and American Express, and ahead of Wells Fargo and U.S. Bank.[32]

References[edit]

  1. ^ abcdef"Annual Report 2020 (SEC Form 10-K)"(PDF). U.S. Securities and Exchange Commission. Retrieved May 21, 2021.
  2. ^"Discover Financial Services - Company Profile and News". Bloomberg News. Retrieved July 2, 2020.
  3. ^"A Brief Chronology of Sears History". Sears Brands, LLC. Retrieved August 12, 2009.
  4. ^Barmash, Isadore. "Sears Net Rises 47.4% in Quarter", The New York Times, April 22, 1987.
  5. ^Kagan, Julia. [1]. Investopedia.com, June 27, 2018.
  6. ^[2]. June 1, 2007.
  7. ^“Discover flying solo”. The Green Sheet, July 9, 2007. Retrieved 2016-12-05.
  8. ^"Greenwood Trust Company Renamed Discover Bank" (Press release). Discover Financial Services. August 1, 2000. Archived from the original on January 21, 2014.
  9. ^"Discover Bank Locations".
  10. ^"Merger of Discover Financial Services and Pulse EFT Association closes following Pulse member approval" (Press release). Discover Financial Services. January 12, 2005. Archived from the original on December 8, 2012. Retrieved October 22, 2007.
  11. ^Miller, James P. (July 1, 2008). "Discover completes purchase of Diners Club". Chicago Tribune. Archived from the original on July 6, 2008. Retrieved July 1, 2008.
  12. ^"Discover Financial buying Citigroup's Student Loan Corp". Crain's Chicago Business. September 17, 2010. Retrieved December 19, 2014.
  13. ^"Discover Completes Acquisition of the Student Loan Corporation" (Press release). Discover Financial Services. January 11, 2011. Retrieved December 19, 2014 – via Business Wire.
  14. ^"Tree.com Completes Sale of Certain Assets of Home Loan Center, Inc. to Discover" (Press release). Tree.com. June 7, 2012. Archived from the original on May 22, 2013. Retrieved July 14, 2012.
  15. ^Harkness, Brendan. [3]. CreditCardInsider.com, April 7, 2020.
  16. ^"Discover's Fourth Quarter Net Income Grows 31%".
  17. ^"Discover Card Account Center Launches Online Sweepstakes; Click, Pay and Win With SmartCheck on Discovercard.com" (Press release). Discover Financial. Archived from the original on March 31, 2012. Retrieved June 18, 2013.
  18. ^"Discover Card Now Accepted for Cash Advances At Citibank; Discover Card Is Now Accepted At All U.S. Citibank Financial Centers and ATMs" (Press release). Discover Financial. Archived from the original on March 31, 2012. Retrieved June 18, 2013.
  19. ^Kingson, Jennifer A. "Credit Card Issuers Adjust to Open Field", The New York Times, March 26, 2005.
  20. ^Lee Enterprises. "Wal-Mart taps MasterCard for store-branded credit card". stltoday.com.
  21. ^"Discover Lifts The TARP". Forbes. March 17, 2010. Retrieved February 28, 2018.
  22. ^"Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau Order Discover to Pay $200 Million Consumer Refund for Deceptive Marketing". Consumer Financial Protection Bureau.
  23. ^"Discover - Our Company | Discover Card".
  24. ^Metro Business; Discover Is Sponsor For Year 2000 Event
  25. ^Back in Times Square, Toshiba Stands Tall
  26. ^"The Mills Corporation Announces the Grand Opening of Discover Mills". PR Newswire. Retrieved March 9, 2016.
  27. ^Sawicki, Beth (September 21, 2012). "Discover Mills renamed Sugarloaf Mills". Gannett. 11 Alive News. Archived from the original on January 16, 2013. Retrieved March 9, 2016.
  28. ^"Discover - Our Company | Discover Card".
  29. ^"Discover - Our Company | Discover Card".
  30. ^Holmes, Tamara P. "Credit card market share statistics". CreditCards.com, June 22, 2016. Retrieved 2016-11-28.
  31. ^Kiernan, John S. "List of Credit Card Companies & Networks: Differences, Contact Info & More". WalletHub, March 31, 2016. Retrieved 2016-11-28.
  32. ^"Q1 2016: U.S. Credit Card Issuer Snapshot". Retrieved November 28, 2016.

External links[edit]

Источник: https://en.wikipedia.org/wiki/Discover_Financial

Discover Bank Review

Discover is best known for its rewards credit cards, but that’s just a portion of its business. It’s a full-service online bank, as well as a payment services company. Discover offers banking and retirement solutions for individuals. Discover is also a lender, with personal, student and home equity loans available.

Because they are strictly an online bank, Discover doesn’t have local branches that customers can visit in person for banking needs. That doesn’t mean they aren’t accessible, though. Discover is known for its superb customer service, which is available 24 hours a day.

Here’s our review of Discover Bank and its personal banking options to see why it made our list of the Best Online Banks 2021. Discover also earns a spot on our Best Checking Accounts (best for cash back) and Best Online Savings Accounts (best for avoiding fees).

Account details and annual percentage yields (APYs) are accurate as of November 19, 2021.

Account Basics

Checking (Cashback Debit)*

Discover checking account are somewhat unusual in the banking world. That’s because—similar to many of its credit card offerings—Discover checking accounts earn cash back rewards. With the Discover Cashback Debit account, customers can earn 1% cash back on up to $3,000 in debit card purchases every month.

If you maxed out the $3,000 monthly limit, you would earn $30 cash back every month. Over a year, you would earn $360 cash back just by using your debit card for purchases. If you only spent $2,000 in debit card purchases monthly, that’s still $240 cash back over a year.

Another feature that Discover is known for with its checking accounts is not charging fees. There are no fees for account maintenance, ordering checks, in-network ATM use, online bill pay or replacement debit cards. Discover Cashback Debit accounts have no minimum balance requirements or activity requirements.

Savings

Discover Bank offers an online savings account with competitive rates that are five times higher than the national average. Discover savings accounts earn 0.40% APY. With $10,000 in your savings account, you would earn over $40 from interest annually. Interest compounds daily and pays out monthly.

There are no fees associated with online savings accounts through Discover. There’s also no minimum balance requirement. Compare that to Bank of America’s Advantage Savings account, which requires a $500 minimum balance to waive its $8 monthly fees.

Money Market

Money market accounts take the earning power of a savings account and also give access to checking features for a more versatile account. The Discover Bank money market account provides customers with ATM access, a debit card and check-writing capabilities.

Convenience isn’t the only high point for Discover’s money market accounts. These accounts offer high earning potential. Account balances under $100,000 earn 0.30% APY. Balances of $100,000 and higher earn 0.35% APY. An account balance of $20,000 saved for five years will earn $60 in the first year and $302 over five years of saving.

Discover’s money market accounts have no fees and no minimum balance requirements. Money market accounts allow you to earn more interest than you would with a traditional checking account.

CDs

Discover Bank certificates of deposit (CDs) are versatile high-yield accounts that offer guaranteed returns for customers. Discover CD terms range from three months to 10 years, depending on your needs.

Discover offers competitive returns on its CDs that are a bit lower than the best CD rates on the market. Here’s a look at the interest-earning potential of Discover’s CD accounts at different term lengths with an initial deposit of $15,000:

Discover offers a total of 12 CD term lengths. In addition to the five CDs shown above, Discover offers term lengths of six months, nine months, 18 months, 24 months, 30 months, four years and seven years.

CD accounts through Discover have a $2,500 minimum deposit. If for some reason you need to access your funds before they reach maturity, you can withdraw them, but you’ll have to pay a penalty. The early withdrawal penalty will depend on the specific length of the CD term. The penalty on a CD with a term under one year is three months’ simple interest.

Opening a CD account is generally considered to be a safe investment because you have FDIC insurance and a guaranteed return, no matter what the market does. Your CD rate is locked in for your term length. The longer your CD term, the higher the rate you’ll receive. You also can create a CD ladder, using Discover CDs with different maturity dates, to build in some flexibility specific to when you withdraw funds.

IRA CDs*

Another option available through Discover is IRA CDs. Customers can choose between Roth IRA CDs and Traditional IRA CDs, depending on their needs. Roth IRA CDs:

  • Are funded with after-tax dollars
  • Contributions aren’t tax-deductible
  • Earnings are tax-free
  • Contributions can be withdrawn at any time without IRS penalty

Traditional IRA CDs are set up differently. Traditional IRA CDs:

  • Are funded with pre-tax money
  • Have tax-deferred earnings
  • Contributions can be tax-deductible up to specific limits
  • Funds can’t be withdrawn without a penalty until age 59½

IRA CDs through Discover can be funded with money from other retirement accounts. Customers also can transfer an IRA from another financial institution into a Discover IRA CD.

Discover’s IRA CD terms range from three months to 10 years and they pay similar APYs to Discover’s regular CDs. Discover IRA CDs can be opened with as little as $2,500.

Access on the Go

Discover customers can access their accounts in several ways. Accounts are always accessible online.

Discover Mobile is the bank’s highly rated mobile app, available on iOS (4.9 stars out of 5 on the App Store) and Android (4.6 stars on Google Play). Not only can you access all of your Discover accounts through the app, but you also can take advantage of mobile check deposit by taking a photo with your phone or tablet.

Convenience is a huge aspect of Discover’s mobile app. You can easily log into your account through touch ID. iPhone users also can log in through face ID. People using the app can enable Quick View, which allows you to see your account balances without actually logging into your account. Discover ATMs can be located through the mobile app as well.

Discover has more than 60,000 ATMs available to customers. All of the ATMs in its network are fee-free ATMs. You may get charged a fee by other banks when using an out-of-network ATM.

Another nice feature is access to Zelle, a digital payment network. Discover and Zelle have partnered up, allowing customers to connect bank accounts to the service easily. Zelle lets you send and receive money between almost every U.S.-based bank account. There are no fees charged for this service.

Pros

  • 1% cash back on up to $3,000 per month of debit card purchases
  • No monthly fees, overdraft fees or minimum balances
  • Online bill pay feature
  • 60,000+ fee-free ATMs
  • U.S.-based customer service available 24/7 365 days a year
  • Highly rated mobile app 
  • Competitive APYs on savings accounts and CDs 
  • IRA CDs available for retirement investments 
  • Diverse range of accounts for different financial needs: checking, savings, CDs, credit cards, personal loans

Cons

  • No physical locations
  • No auto loans
  • No reimbursement for out-of-network ATM fees

How Discover Bank Stacks Up

Discover hits a home run with its online banking services. They offer competitive rates on most accounts while having no minimum balances or fees. Checking accounts earn 1% cash back, which isn’t very common in the banking world.

Discover stands by its accounts and even offers comparisons to other banks on its website so you can see the differences. Its transparency is great to see. Flexibility is one of Discover’s best traits, evident across all of its banking products.

If the thought of online-only banking scares you, then Discover Bank isn’t the best option for your next bank account. Customers who are okay without a local bank branch should take advantage of high-yield earning with Discover Bank.

Frequently Asked Questions (FAQs)

Does Discover offer any loans?

Yes. Besides its personal banking products, Discover also offers personal loans, student loans and home equity loans.

Personal loans can be taken out through Discover for up to $35,000. The loans have fixed interest rates and can be repaid over a time period ranging from 36 months to 84 months. Those with established credit will qualify for lower APRs than those with an average to poor credit profile. There are no origination fees or other loan fees so long as you pay on time.

Discover student loans cover up to 100% of school costs. Students also can earn a discount for getting good grades. Student loans carry either a variable or fixed interest rate. The specific APR will vary, depending on the creditworthiness of the applicant.

Flexible home equity loans are available through Discover, with terms ranging from 10 years to 30 years. Home equity loan amounts range from $35,000 to $200,000. These loans carry a fixed APR, which will vary based on loan amount and creditworthiness factors.

Is Discover Bank FDIC insured?

Yes, Discover Bank is FDIC insured (FDIC# 5649). The federal government protects your money up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

Discover Bank takes account security seriously. They do this through the use of fraud monitoring, fraud protection, SSL encryption, bill pay protection, and other security measures. Discover customers will never be held responsible for unauthorized banking transactions.

How good a deal is the Discover 1% cash back debit card?

Discover Bank is one of the few banks that still offers significant cash back rewards for debit card purchases. You can earn 1% cash back on up to $3,000 in debit card purchases each month.

Cash back can be redeemed as an automatic monthly deposit into your Online Savings account, transferred to a Discover Credit Card Cashback Bonus Account or deposited into your Cashback Debit account, Online Savings account or Money Market account. Rewards do not expire so long as your account is kept in good standing.

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Источник: https://www.forbes.com/advisor/banking/discover-bank-review/

How to Know If Your Credit Card Is Still Active

To use your credit card for purchases and other transactions, it must be open, active, and in good standing. Your credit card can become inactive and thereby unusable in certain circumstances.

There are a few ways a card can become inactive. If you haven’t used your credit card in several months—or years even—the credit card issuer may deactivate the card. Or, if you’ve fallen behind on your payments, your purchasing privileges may be suspended. The credit card can also become inactive upon expiration with no-issuance of a new card.

An inactive credit card will be declined when you try to use it. So, to save yourself a little embarrassment and the hassle of finding a backup payment option, check to see whether it is active before using it.

Call Customer Service

The simplest way to clear up any question about whether your credit card is still active is to call the issuer and ask. Call the number on the back of your card to inquire about the status of your account. If inactive, customer service can likely reactivate.

Try to Use It

If you don’t want to call customer service, you can test your credit card’s status by using it to make a purchase. A declined card is a sign that it is no longer active; however, it could also mean a number of other things, such as the cards are expired or you've reached your credit limit. For those reasons, it is wise to carry additional forms of payment.

What if you lost or misplaced the credit card, and you don't remember the credit card number? You can get the card issuer’s number from their website and give them your social security number to locate your account (make sure you're at the correct website before giving out your personal information).T The card issuer can send you a replacement credit card if your account is still active.

Check Your Credit Report

Finally, your credit report can give you an idea about your credit card status. Credit card issuers generally report credit card statuses to the credit bureaus once per month. If your credit card is closed, your credit report will probably reflect that. It won't, however, tell you why your account was closed. You'll have to contact your former credit card issuer to get that information.

What to Do If Your Card Is Inactive

Some inactive credit cards can be reactivated by just calling your credit card issuer and asking. You may have to catch up on a delinquent balance before you will be allowed to use your card again. Unfortunately, if it is completely closed, you may not be able to open it up again, especially if it was closed because of delinquency.

Check Your Balance and Available Credit, Too

Once you've confirmed that your credit card is still active, you need to know how much you're able to charge. Ask the issuer or check your account for your current balance and available credit before making any purchases. That way you can be sure you're not exceeding your credit limit.

You're still responsible for making regular minimum payments on your balance, even if your credit card is inactive. Missing your credit card payments has serious consequences, including late fees and damage to your credit score.

Frequently Asked Questions (FAQs)

How long will a credit card remain active without being used?

The amount of time that a credit card can sit unused but active differs from issuer to issuer. Most credit card companies will close the account in anywhere from 12 to 24 months of not being used. If you have credit cards associated with a particular retail store, it may have a longer period before being closed.

Should I keep a zero balance on my credit card?

While having a zero balance on your credit card won't hurt your score, if the card goes unused long enough that the credit card issuer closes the account, it could have a negative impact on your credit report. Without the recent activity, lenders won't have a recent borrowing history to determine if you are a responsible borrower or not. 

Источник: https://www.thebalance.com/how-to-know-if-your-credit-card-still-active-960154

how to check pending deposits on american express serve Next, click on the “Log In” link at the top of the page as shown in the image below. If you lost your Serve card or it was stolen, you can contact American Express using the contact information below to request a replacement card or to check and see if your money has been deposited onto your card. Sep 19, 2016 · After providing login information to the phony American Express page -- and regardless of whether the login information is correct -- users are presented with real- looking pages for them to enter Mar 17, 2021 · Contact American Express customer support at toll-free or business customer service phone number. My mother and little brother have the same bank and received their stimulus checks via direct deposit on Saturday. Contact us to request a free quote at (401) 944-9800. American Express Travel Related Services Company, Inc. Say or type the last 4 digits of your SSN when asked. Now yesterday they sent her ANOTHER card with a different number. Mail checks to: American Express National Bank. Mobile Check Deposits are subject to verification and not available for immediate withdrawal. My card was refused yesterday so today I tried to check my balance. The Form 4506-T (Request for Transcript of Tax Return) allows the Internal Revenue Service to provide us with your recent tax returns. 2021-10-21 19:20:54 Once you have added your bank by account and routing number, 2 small deposits will be sent to your account. 74% but it could vary between cards. If they no longer have a card account with American Express, they will receive a check in the mail. Serve from American Express. No minimum balance. Deposits made by check are accepted at our sole Answer (1 of 10): Thanks for the ask-to-answer. What is the Maximum Balance for American Express Serve? The maximum balance you can have on American Express Serve is $100,000. Visit the company website www. It's free and secure to access your card account online. Find everything you need here to get your finances squared away for basic training and beyond. American Express (AXP) has just given its checking account alternative, Bluebird, more bank-like checking account features. They get money from Welcome, new recruit, to the military and to Armed Forces Bank. 85% a ($3. The system is temporarily unavailable. Authorization holds, often referred to as pending charges or pre-auths, allow us to verify that there are enough funds available on a payment method before your order ships. I've never had a problem. Learn more . Choose from over 20 American Express ® Gift Card designs to find a perfect gift for all the important people in your life. Mar 26, 2013 · October 16. I know my password is correct because I made a record of it. To reset your password, enter the User ID you use to log in to your American Express Merchant Account online. Content ends here. Oct 18, 2021 · American Express National Bank, Member FDIC, offers a high-yield online savings account — American Express High Yield Savings Account — to customers. Back to content With the Ingo® Money App, cash paychecks, business checks, personal checks—almost any type of check—anytime, anywhere. Finally, your maximum account balance is $5 million. In the Mobile Banking app, select Deposit Checks, then Help for details, and other terms and conditions. Coupons. If you have requested either a line of credit increase or a balance transfer on an existing American Express card account, please call the number on the back of your card regarding the status of those requests. If you want to use the card, select the card at checkout and make sure the amount on card covers the entire purchase or it will decline. Check for Pre-qualified Credit Card Offers; Certificates of Deposit (CD) Individual Retirement Account (IRA) About American Express; Investor Relations Today, American Express offers banking services such as high-yield savings accounts and certificate of deposits. Cancellation Policy A fourteen day (14) notice is required in order to cancel or transfer a reservation. Direct Deposit is one of the most convenient ways to add your paycheck or government payments check to your Brink's Money Prepaid Mastercard. Still no stimulus direct deposit for “serve, American Express”. We will have more information once the government finalizes the Add money from debit/American Express credit card: $0 : A cash advance fee may be assessed against your credit card account for credit card loads. But they also own American Express National Bank, Member FDIC, their online bank that offers open high-yield savings accounts or certificates of deposits to their consumers. Welcome to USPS. For example, you may decide to cancel your membership or service with the company, or you might decide to pay a different way. You have requested to receive certain federal government benefits by a Direct Express® Debit Mastercard® Card (“Card”) issued by Comerica Bank (“us, we”), rather than receiving a check or direct deposit to your checking or savings account. Please enter the 15-digit Card number and 4-digit CID located on your Card to begin. Box 30384, Salt Lake City, Utah 84130. Because we don't send a full charge to your bank until we ship your items, you may see more than one authorization, sometimes for the same Sep 09, 2015 · This is great because most of us will be loading $1,000 per month with an Amex credit card and will be free of any monthly fees. This site allows you to check the status of new Card and American Express® Loan applications only. FREE ATM withdrawals at over 24,000 ATMs nationwide. If you already have a Brink's Money Prepaid Card Account click here to get the Bank Routing Number (sometimes referred to as the 'ABA Routing Number') and your Account Number. No credit checks, no monthly fees, and one free ATM withdrawal per month (the ATM itself may charge a fee). Promotional. This isn’t an American Express credit card — it’s a debit card that comes with no reload fee, as well as direct deposit and mobile check deposit options. For deposits made on weekends, funds are considered deposited on Monday (the first business day), so the hold will go into effect the next business day (Tuesday). May 07, 2020 · The IRS will mail the stimulus check if a person doesn't have direct deposit, but postal services in some countries aren't operating due to the pandemic. These Cards are issued by American Express Prepaid Card Management Corporation. American Express Serve User reports indicate no current problems at American Express Serve American Express Serve is a prepaid debit account with online account access, and a mobile app that lets you pay bills, and deposit checks. Serve unifies multiple payment options into a single account that can be funded from a bank account, debit, credit or charge card, or by receiving money from another TERMS OF USE FOR YOUR DIRECT EXPRESS ® DEBIT MASTERCARD ® CARD . AMEX is sort of infamous for sitting on your money for an ACH and Direct Deposit. Feb 02, 2021 · American Express Serve has many of the features of an online bank account. Please try again later and if the problem persists, call American Express Customer Service at 866-220-4272. You can receive up to $25,000 per direct deposit, and up to $50,000 in a 24-hour period. FREE Direct Deposit gets you access to your money up to 2 days faster. When you buy through links on our site, we may earn an affiliate commission. American Express has two different products, Bluebird & Serve. Feb 24, 2021 · Here’s how to check your American Express credit card application status by phone: Call American Express at (888) 826-3471. , 200 Vesey Street, New York, NY 10285, is licensed as a money transmitter by the New York State Department of Financial Services. By ordering from reputable online check stores, not only will you save a lot of money on the price you pay compared to what you would be charged at American Express Bank, but you get the convenience of having your bank checks Serve is a financial Account with no credit check, no minimum balance, and no hidden fees. Direct deposits and wire transfers serve the same purpose. This is generally the address on your most recent tax return or as updated through the United States Postal Service (USPS). And you can create sub-accounts for your partner, kids, babysitter, or anyone you’d like. My direct deposit is due to hit my Serve account on the 1st of the month. Turbotax Prepaid Card Turbo Debit Card Login How to Activate Turbo Debit Card. Have you recently requested a Line of Credit increase for your credit card or a Spending Limit increase for your charge card? This site allows you to view the status of your request(s). Since opening my account, I've received my deposit on the 25th of each month. The direct deposit is initiated by someone (for example, an employer) with the intention of having it arrive on a certain day. Salt Lake City, Utah 84130. I didn't know what to do so I searched online and found Blake. Prepaid Cards: The American Express Serve is the main AMEX prepaid card which can be used freely at USA online casinos for making deposits. 95. Shawn at FrequentMiler picked up on a subtle change in the tune of the One VIP website which seems to indicate that you now need a $500 direct deposit in order to waive the $1 monthly fee, indicating that other load methods won’t exempt the monthly fee. Payments you process with this account aren't eligible for next-day deposits. O. Amex. If you are often close to the maximum balance, it may be time to put your money to work and deposit it in an account that yields interest, such as a savings account, a CD, or a money market account. Tax Refund Prepaid Cards. Please note: Accepted types of cards are Visa, MasterCard, American Express, Discover and Diner’s Club. Start accepting payments. A paper check requires a trip to the bank, and direct deposit requires you to have a bank account. For any problems regarding delayed or unreadable messages, or if you are not receiving any messages, please call Customer Services 24 hours a day, 5 days a week. Can check your balance and activity via mobile. You can find out your card balances by calling the number on back of card or register the card at the card website to check. Rhode Island’s Only Locally Owned Car & Truck Rental Company. For cash advances using your American Express credit card, you’ll pay: A 5% fee of the amount, but not less than $10. Jul 20, 2020 · American Express is known for their prepaid, charge, and credit cards. 40/yr) for the American Express Serve® FREE Reloads Card Receiving a false charge on your American Express credit card is always inconvenient, but the last thing you should do is simply pay the charge. But there's an alternate way to receive your monthly benefits: the Social Security debit card, which is a prepaid debit card that allows you to access and use your Social Security benefits. ) No credit check. Please keep this email for your records. Jan 16, 2019 · For American Express Serve accountholders who receive their tax refunds or refund advances via Direct Deposit to their American Express Serve accounts, the Service available through the American Express Serve Mobile app and website is limited to money transfers for a maximum amount of the lesser of (i) the tax refund amount that has not May 27, 2021 · There are three different American Express Serve® prepaid cards. Nov 02, 2018 · Perhaps the most popular choice is direct deposit. May 29, 2020 · Permalink Report Abuse. ET on a business day, it should post on the same day. Our Accounts give you tools to help you budget, flexibility to spend online or in stores, and many conveniences including easy access. - Locked account on Amex Serve card. Offers. Dec 28, 2020 · (American Express Serve is not a credit card. If you want your refund two days faster, consider the relatively new option of having the money placed on the prepaid American Express Serve card. By ordering from reputable online check stores, not only will you save a lot of money on the price you pay compared to what you would be charged at American Express Bank, but you get the convenience of having your bank checks Mar 28, 2011 · With Serve, consumers can make purchases and person-to-person (P2P) payments online (serve. Values range from $25 to $3,000, so American Express Gift Cards can be a thoughtful gift for any occasion. 00 minimum fee) will be added to your payment by the service provider. We’ve split the information below but if it works for one it should work for the other. You do have to be careful not to overspend, though. 30 million Social Security recipients still waiting Sep 23, 2019 · Funds cannot be extracted from cards. See full list on thebalance. There's also a chance that a fraudster has got hold of your card and American Express has frozen your account with good reason. In addition to this American Express do offer an alternative to a secured credit card. With a suite of options to choose from, Serve allows you to handle your money with ease. how to check pending deposits on american express serve

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Источник: http://krijocv.com/pgqo/how-to-check-pending-deposits-on-american-express-serve.html

Discover Card Help Center

Apply for a Card

Discover credit card offers rewards, like the Discover it® Cash Back credit card which offers 5% Cash back each quarter when you activate, up to the quarterly maximum, with no annual fee. Finding out if you qualify is easy – with no harm to your credit check.

Cash Back Credit Cards: Discover it® Cash Back, Gas & Restaurant Card, NHL® Discover it®

Travel Credit Card: Discover it® Miles

Student Credit Cards: Discover it Student® Cash Back, Student Chrome Card

Secured Credit Card: Discover it® Secured

Business Credit Card: Discover it® Business Card

Cash Back Credit Cards
Intro purchase APR is 0% for 14 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 0% for 14 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 11.99% variable to 22.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Travel Credit Card
Intro purchase APR is 0% for 14 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 10.99% for 14 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 11.99% variable to 22.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Student Credit Cards
Intro purchase APR is 0% for 6 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 10.99% for 6 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 12.99% - 21.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Secured Credit Card
22.99% standard variable purchase APR. Intro Balance Transfer APR is 10.99% for 6 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Business Credit Card
Intro purchase APR is 0% for 12 months from date of account opening then the standard purchase APR applies. Standard purchase APR: 12.99% variable to 20.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 5% of the amount of each transfer. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

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Источник: https://www.discover.com/credit-cards/help-center/

Pros Explained 

  • Cash-back bonus on debit card purchases.Cash back on credit cards is pretty standard, but Discover rather uniquely offers a 1% cash-back bonus on anything you buy with your debit card, up to $3,000 in purchases a month. You could potentially earn up to $360 annually. 
  • No fees. Discover Bank's checking account boasts no fees—no monthly minimum fees or fees for insufficient funds. Plus, you won’t get dinged with a charge for returned items, or should you close your account.
  • Large ATM network. The Discover debit card is accepted at 415,000 ATMs in the U.S overall. Account-holders can make withdrawals at no charge at some 60,000 ATMs belonging to the Allpoint and MoneyPass networks. Using a machine outside these networks might incur a surcharge imposed by the third-party ATM owner. Discover itself, however, never charges a fee for ATM use.

Cons Explained 

  • One brick-and-mortar location. True to its name, Discover Online Banking has but one actual branch, in Greenwood, Del. So if you like face-to-face contact, this isn't the institution for you.
  • High minimum CD deposits. While Discover Bank's interest rates for its certificate of deposit stack up nicely against the competition's, you'll need at least $2,500 to get started. This sum skews a bit high: Other online banks allow you to open a CD with as little as $500 or $1,000.

Who Is Discover Online Banking Best For? 

Discover Online Banking should be a good fit for those seeking a digital bank that offers a suite of different services.

It might be a particularly good fit for those who:

  • Prefer paperless, digital transactions
  • Hate paying fees
  • Typically use their debit card for day-to-day transactions 
  • Prefer to bank with an established "name" financial institution 

What Does Discover Online Banking Offer? 

As you might expect from the banking division of a major financial services company, Discover Bank offers an array of products and services:

  • Checking account
  • Savings account
  • Money market account  
  • Certificates of Deposit
  • IRAs

Discover Checking Account

A major feature of the Discover Checking Account is its cash-back debit card. The 1% cash-back reward strictly applies to purchases, though. ATM transactions, money orders, loan payments made with your debit card, and payments using peer-to-peer platforms aren’t eligible for cash-back rewards. 

Besides cash-back on your cards, there are no monthly maintenance fees, insufficient funds, or a fee for returned items or stop payment orders. There’s no minimum to open an account, and there’s no monthly minimum balance to keep the account open. 

Other perks include free checks.

Digital-only banks like Discover's only allow you to withdraw cash from ATMs; you can't deposit cash or physical checks. Discover lets you deposit paper checks via its mobile banking app, or by mail to a Salt Lake City processing center.

Discover Savings Account

Like the checking account, Discover Savings Account doesn't require any minimum to open or maintain the account. As of September 20, 2021, the annual percentage yield (APY) is 0.40%, which is higher than the average national savings rate of 0.06%.

Discover Bank’s no-fees features apply here too: The account is free of no monthly maintenance or insufficient funds charges. While federal law Regulation D prohibits account holders from making more than six withdrawals or transfers per from a money market or savings account within a month, you won’t be dinged with a fee for excessive withdrawals, either. However, if it’s a recurring problem, your account might fall in danger of being closed.

Discover Money Market Account

While there’s no ongoing minimum required to maintain a Discover Money Market account, you’ll need at least $2,500 minimum to open it. There are two interest rates: If your balance is less than $100,000, you’ll earn an APY of 0.30%. If it’s more than $100,000, you’ll get a slight bump of 0.35%. 

Once opened, the account generates no monthly maintenance fees, no fees for insufficient funds, or if you make more than six withdrawals or transfers in a given month.

Money market accounts are similar to savings accounts in that they’re a deposit account that generates interest on your money. However, you can typically withdraw funds more easily, usually via a linked debit card; the account may also come with check-writing privileges.

Discover Certificate of Deposit (CD)

Discover’s high-yield certificates of deposit (CD) give you the option of tucking away a sum of money for a set amount of time. CDs usually earn a higher interest rate than a standard savings or checking account. And the longer your term, the more you can earn. The minimum amount for an opening deposit is $2,500. Discover’s high-yield CDs range from three months to 10 years, and the interest rates are as follows:

Discover Bank CD Rates
TermAPY
3 Months0.20%
6 Months0.25%
9 Months0.30%
12 Months0.50%
18 Months0.50%
24 Months0.55%
30 Months0.60%
36 Months0.60%
48 Months0.65%
60 Months0.80%
7 Years0.80%
10 Years0.80%

Should you need to take your money out early, you’ll get hit with an early withdrawal penalty. How much you’ll get dinged depends on the term of the CD: 

Discover Bank CD Early Withdrawal Penalties
TermEarly Withdrawal Fee 
Less than 1 year3 months simple interest
1 year to less than 4 years6 months simple interest
4 years to less than 5 years9 months simple interest 
5 years to less than 7 years 18 months simple interest 
7 years to less than 10 years 24 months simple interest 

Your CD needs to be open for at least eight days before you can pull money.

Discover IRAs

Discover offers both an Individual Retirement Account CD and an IRA Savings Account. The IRA CD requires a $2,500 minimum and offers APYs comparable to those of the regular CDs. The IRA Savings has no minimum and currently offers a 0.40% APY. The retirement accounts can be either traditional or Roth IRAs.

Discover Credit Cards

Discover has a handful of no-annual-fee credit cards in its network, including a travel card, student card, and gas and restaurant card. Technically speaking, though, these cards are not part of Online Banking but offered through another division of its parent, Discover Financial Services, rather confusingly known as Discover Bank. You don't need to be an Online Banking customer to apply for a Discover credit card; nor does being an Online Banking account-holder or grant you special access to these cards.

Cash-Back Cards

General Travel Rewards Cards

Secured Credit Cards 

Business Credit Cards 

Other Financial Services Offered by Discover

As with the credit cards, the products listed below are technically offered not through Online Banking, but since they are part of Discover Financial Services, the parent company, we list them here as a service.

Discover Bank Customer Service 

Discover Online Banking offers 24/7 customer phone support, 365 days a year at 1-800-347-2683 —with reps based entirely in the U.S., as the company likes to emphasize. You can also reach out to customer support by chat. And like most banks, you can deposit a check and access your banking information and financial transactions through its mobile app. 

According to the J.D. Power 2021 U.S. Credit Card Satisfaction Study, among credit card issuers, Discover has the second highest ranking with a score of 837. And per the J.D. Power 2021 U.S. Banking Mobile App Satisfaction Study, Discover also ranked in second place in online credit card satisfaction.

In 2012, Discover Financial Services paid out $200 million to 3.5 million customers for deceptive practices—such as enrolling clients in products like its payment protection plans, without their permission. Discover also paid a civil fine of $7 million both to the Consumer Financial Protection Bureau's (CFPB) Civil Penalty Fund and to the U.S. Treasury.

How to Bank With Discover Online Banking 

Opening an Online Bank account is a simple and straightforward process. Whether you’re an existing Discover customer (a card-holder, loan borrower) or are a new one, you can open an account online in minutes. 

Verdict

Discover Online Banking is an excellent option for those who feel comfortable with a completely digital financial platform. The generous cash-back bonus on its debit card, lack of fees, and around-the-clock service make it a standout in many ways. The interest rates offered on its accounts are competitive. However, Discover Online Banking's options are limited to the bare bones of banks: checking, savings, certificates of deposits, and money market accounts. Beyond that, there are a few IRA account options available. If you're looking for a financial institution that offers a full suite of products and services (i.e., credit cards, mortgages, personal loans, and wealth management), you might be better off looking elsewhere. While other Discover divisions do offer some of these options, it's not clear if there's much interaction among them—and if using one product benefits you with getting another. Likewise, if you like to do your banking in person, Discover Online Banking probably isn't for you. The company's customer reps are friendly and knowledgable, but it's not the same as developing a relationship with the personnel at a physical branch.

Methodology

Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected more than 20 data points across more than 80 banks including products available, interest rates, fees, and accessibility to ensure that our content helps users make the right decision for their savings and banking needs.

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .

Источник: https://www.investopedia.com/discover-bank-review-5069129

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How to transfer money from Discover Bank?

Discover Financial

American financial services company

Discover Financial Services is an American financial services company that owns and operates Discover Discover card phone number check balance, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulsenetworks, and owns Diners Club International. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders. Discover is currently headquartered in the Chicago suburb of Riverwoods, Illinois.[2]

History[edit]

In 1981, Sears purchased the Dean Witter Reynolds brokerage firm organization and Coldwell, Banker & Company (real estate franchise)[3] as an attempt to add financial services to its portfolio of customer services. In 1985, Sears also acquired the Greenwood Trust Company. Altogether, these companies operated as a Sears subsidiary called Dean Witter Financial Services Group, Inc. The plan to create a one-stop financial-services center in Sears stores was not as successful as Sears had hoped. Its credit card operations accounted for a loss of $22 million in the fourth quarter of 1986, and a loss of $25.8 million in the first quarter of 1987.[4]

On March 1, 1993, Sears sold off its financial services branch as a new independent publicly traded company called Dean Witter, Discover & Co. with Dean Witter Reynolds in charge. This company had a stock ticker symbol of DWD.

In 1995, Discover Card Services, Inc. changed its name to NOVUS Services, Inc. to distinguish its network functions from the Discover Card.

In 1997, this company merged with investment banking house Morgan Stanley to become Morgan Stanley Dean Witter, Discover & Co.

Discover and Novus retired acceptance mark (still seen in many places)

On February 1, 1999, the company rebranded itself as Discover Financial Services, Inc.[5] The NOVUS logo was retired, replaced by the Discover Network logo.

In April 2005, Morgan Stanley announced that it would divest Discover Financial Services as an independent company within six months. By June, industry sources reported that Morgan Stanley was reassessing its plan to spin off Discover. In August, the company confirmed it would not sell Discover. However, on December 19, 2006 during a fourth quarter earnings report, Morgan Stanley CEO John J. Mack announced Discover would be spun off as a standalone publicly traded company by the end of August 2007, stating that both companies will be better positioned for growth and success as separate entities.[6] Ahead of schedule on June 30, 2007, Discover was spun off as an independent, publicly traded company.[7] It began trading on the NYSE for the first time on July 2 as DFS.

Acquisition of The Greenwood Trust Company[edit]

The Greenwood Trust Company was founded on August 30, 1911 and was based in Greenwood, Delaware. It was acquired in 1985 and renamed Discover Bank on August 1, 2000.[8] Discover Bank is mainly an online financial institution that offers many financial services such as checking accounts, savings accounts, and money market accounts. However the first and original location of the Greenwood Trust Company on 502 East Market Street is still operating and is the only physical banking location of Discover Bank. Discover Bank operates as a subsidiary of Discover Financial Services and is FDIC insured.[9]

Acquisition of Pulse[edit]

In 2005, Discover Financial Services acquired Pulse, an interbank electronic funds transfer payments network. This allowed Pulse and its more than 4,000 member banks, credit unions, and savings institutions to join with the Discover Network's 4 million merchant and cash access locations. Additionally DFS now had the ability to market and issue debit and ATM cards. On February 13, 2006, DFS announced that it would begin offering Discover debit cards to other financial institutions, becoming the first credit card services company to compete directly with MasterCard and Visa in the rapidly growing signature debit market.[10]

Acquisition of Diners Club International[edit]

In April 2008, Discover Financial and Citigroup announced that Discover was purchasing the Diners Club International network from Citigroup for $165 million. In May 2008, the Federal Trade Commission approved the transaction and it was finalized on July 1, 2008.[11] Discover stated that the Diners Club network, which is a major network outside the United States, will be merged with the Discover Network, a major network in the United States. The creation of an international network for Discover and Diners Club cardholders allowed customers to expand their global reach. Diners Club cards will continue to be issued by Diners Club International licensees. At this time, Discover Bank has no plans on issuing Diners Club branded cards itself.

Acquisition of Student Loan Corporation[edit]

On September 17, 2010, Discover Financial Services announced it would acquire Citigroup-owned Student Loan Corporation for $30/share.[12] The deal was finalized on December 31, renamed Discover Student Loans, and expanded DFS's market presence and origination first market bank richmond in private student loans.[13] In 2014, DFS launched Rewards for Good Grades, rewarding college and graduate students who get at least a 3.0 GPA (or equivalent) a one-time cash discover card phone number check balance equal to 1% of the loan amount on each new Discover student loan. In 2015, DFS introduced an interactive tool called FAFSA assistant to help students and their families get ready to complete the FAFSA. The tool provides individualized tips and guidance based on personal situations.

Acquisition of Home Loan Center[edit]

On June 6, 2012, Tree.com, Inc. completed the sale of substantially all of the operating assets of its Home Loan Center, Inc. business to a wholly owned subsidiary of Discover Financial. In exchange for the assets sold, Discover paid an aggregate of $45.9 million including payments made prior to the closing which were applied to the closing price.[14] On June 12, 2012, Texas roadhouse bangor maine began originating mortgages with its launch of Discover Home Loans, offering prime variable- and fixed-rate conventional and FHA home mortgage loans. The Home Loans business was later sold in 2015.

Business developments[edit]

In 1989, Discover Network signs its 1 millionth merchant, a restaurant called Vincente's Restaurant in Wilminton, Delaware.[15]

In 1995, DiscoverCard.com was launched where consumers could apply for credit cards, pay bills, redeem rewards, receive email reminders, and earn extra rewards through online retail partners.

On December 22, 1998, the company introduced Discover Platinum, a premium card featuring new ways to increase rewards, low balance transfer and annual percentage rates, no annual fee, and expanded credit lines.

On December 21, 2001, fourth-quarter income at Discover grew 31% to $193 million, compared with $147 million the year before.[16]

In 2002, Discover launched the industry's first keychain credit card. It was named the Discover 2GO Card and was recognized as one of the "Best Products of 2002" by editors and reporters from Business Week and USA Today.

On March 5, 2002, the company announced that the Account Center at Discovercard.com had registered over eight million card members, an increase of 61% since January 2001.[17]

On September 1, 2002, Discover announced that Citibank would accept the Discover® Card for cash advances at its approximately 450 Financial Centers and more than 2,000 ATM locations nationwide.[18]

In 2003, Discover introduced gas and miles rewards cards. The Gasoline Card (renamed Open Road in 2007) awarded 5% Cashback Bonus on gas purchases. The Miles Card by Discover card allowed redemption with as little as 2,500 miles for non-flight reward options. Discover also introduced the option for paperless statements to minimize the impact on the environment and reduce clutter for customers.

In October 2004, the Supreme Court upheld a ruling in Discover's favor that challenged exclusionary policies of Visa and MasterCard, stating that Mastercard and Visa were violating antitrust regulations with anticompetitive practices. Before this ruling, Visa and MasterCard would not allow banks to issue a Discover or American Express card if they issued a Visa or MasterCard. Within days of the court ruling, Discover filed a lawsuit in federal court seeking damages from Visa and MasterCard. In October 2008, DFS was awarded $2.75 billion in damages, the third largest settlement at the time in U.S. history. Shortly after the Supreme Court ruling, Discover struck its first deal to have its cards issued by another financial institution, GE Consumer Finance, which began to issue credit cards for retailer Walmart and its wholesale warehouse stores, Sam's Club.[19] Transactions were processed on the Discover Network. Sam's Club exclusively accepted Discover for many years; since November 2006, it has also accepted MasterCard for purchases. In April 2014, Walmart announced that they were ending their relationship with Discover and would begin converting all Discover-branded cards to Mastercard beginning in June 2014.[20]

HSBC has issued Discover-branded credit cards processed through the Discover Network since its acquisition of card issuer Metris in late 2005. Metris had originally signed an agreement with Discover in September 2005, three months prior to the HSBC acquisition.

In 2006, Discover Network united with Visa, MasterCard, American Express, and JCB to form the Payment Card Industry (PCI) Security Standards Council, which helps to manage the ongoing payment account security throughout the transaction process. In this same year, DFS also launched the Discover Business Card, offering a single payment solution for small business owners. On July 14, 2006, DFS and First Data Corp., a global leader in electronic commerce and payment services, announced that First Data would offer Discover Network card services to small- and mid-sized merchants.

On March 13, 2007, Discover Financial Services announced the Discover Motiva card, the credit card that gives cardmembers cash rewards for making six on-time monthly payments in a row. This card was the industry's first credit card to give cash rewards for good credit management. Later in the year, DFS announced the Discover More card to replace the Discover Platinum card. The Discover More card was designed for consumers who use credit in many different categories and provided them with discover card phone number check balance ways to earn cash back on their purchases.

Following the 2007-08 financial crisis, Discover received about $1.2 billion in bailout funds under the Troubled Asset Relief Program (TARP). The company announced in 2010 that it had received approval to pay back the funds.[21]

In 2009, Discover Financial Services introduced the Spend Analyzer tool, an innovative easy-to-use online tool that provides cardmembers with a visual representation of their Discover card purchases for the past 24 months.

In 2010, Discover Financial Services and Softcard announced a strategic partnership to build a mobile payment network that utilizes mobile phones to make point-of-sale purchases.

In September 2012, Discover Financial Services was ordered to pay over $200 million in fines and customer reimbursements to settle accusations by U.S. federal regulators that it had engaged in deceptive telemarketing tactics.[22]

In 2012, Discover Financial Services announced a five year, $10 million commitment called Pathway to Financial Success to help bring financial education curriculum to public high schools across the U.S.

In 2013, Discover Financial Services and PayPal partnered to enable millions of participating merchants to accept PayPal easily through their existing relationship with Discover. In the same year, Discover Cashback Checking was introduced. This checking account product paid customers 10 cents for every debit card purchase, online bill payment, and check written. Additionally in this same year, the Discover it card was announced. The card rewards cardmembers with 5% cash back in rotating categories each quarter like gas and restaurants. Discover also introduced Discover Home Equity Loans, offering homeowners the opportunity to simplify their finances inclusive of supporting home improvement projects, paying for major expenses, or consolidating debt into a single, fixed monthly payment. Discover also became the first major credit card issuer to provide free access to FICO Credit Scores based on TransUnion data directly to its cardmembers on their monthly statements. Additional information provided with their FICO Credit Scores were educational content to help them better understand their scores.

In 2014, Discover Financial Services launched Discover it Chrome for Students, allowing students to establish credit while earning 2% at gas stations and restaurants.

In 2015, Discover Financial Services launched Discover it Miles, which rewards 1.5 miles per dollar spent.

In 2016, Discover Financial Services launched Discover it Secured for consumers looking to build their credit. Additionally, DFS expanded FICO Credit Scores based on Experian data for free to everyone via a platform called Credit Scorecard, which also included a summary of the data that helps determine an individual's FICO Credit Score.

In 2017, Discover Financial Services launched a free service called Discover Identity Alerts to notify cardmembers if their social security numbers are found on risky websites and if any new accounts are opened on their Experian credit report. All of these services are offered at no cost and do not impact credit scores.

In 2018, Discover Financial Services announced a change to its checking account rewards program, a new industry-leading reward of 1% cash back on up to $3,000 in qualifying debit card purchases each month. Additionally DFS also introduced First Fee Forgiveness, a new program that automatically waives the first eligible fee each calendar year for certain Is kettle corn good for you accounts. Eligible fees included in the program were inclusive of insufficient funds, stop payment, excessive withdrawal and Money Market minimum balance fees. For its U.S.-based employees, DFS launched the Discover College Commitment, which offers employees a full ride bachelor's degree program covering tuition, required fees, books, and supplies to select online degrees. On September 12, DFS launched the Discover it Business credit card, offering unlimited 1.5% cash back on all purchases, as well as free business and security features.

In 2019, Discover Financial Services' subsidiary Discover Bank eliminated most fees on all of its deposit products. Additionally, Discover Home Equity Loans surpassed $1 billion in funded loans, helping over 20,000 homeowners with their financial goals. DFS also launched contactless cards discover card phone number check balance year.[23]

Advertising[edit]

From 1998 to 2007, Discover Card owned a billboard at One Times Square, just above the flagpole where the Times Square Ball is placed, until Toshiba bought the space. As a result, its logo could be seen on national television during New Year's Eve, while the ball dropped. Discover also sponsored the ball drop itself.[24][25]

From its opening in 2001 to 2012, Sugarloaf Mills Mall in Lawrenceville, Georgia was named Discover Mills in a naming rights partnership with Discover Card. The slogan for the mall was "Where Discover Card is the Smart Choice." It was the first shopping mall to have granted naming rights to interested companies.[26][27]

Since 2008, Discover has been the official credit-card partner of the National Hockey League. As part of this deal, Discover offers team- and league-branded credit cards as well as a 10% discount on purchases made from the NHL's online store using Discover.

In 2011 and 2012, Discover participated and won the Grand Marshal award for excellence in creative concept and design in the Tournament of Roses Parade in Pasadena.

From 2011 to 2013, Discover was the sponsor of the college football Orange Bowl.

In 2013, Discover was the sponsor of the BCS National Championship.

In 2017, Discover was named the first ever presenting sponsor and official credit card of the Big Ten Football Conference and Championship Game as part of a multi-year sponsorship.[28]

Business[edit]

In addition to its card products, Discover Financial Services also markets savings products, checking accounts, personal loans, student loans, identity protection, and home equity loans.[29]

Competitors[edit]

In the United States, Discover, as a card network, competes primarily with Visa, MasterCard, and American Express.[30] Unlike Visa and MasterCard, Discover directly issues its cards as both the card network and associated bank, through its Discover Bank unit.[31] When measured by card balances, Discover is the sixth largest credit card issuer in the U.S. behind JPMorgan Chase, Citigroup, Bank of America, Capital One and American Express, and ahead of Wells Fargo and U.S. Bank.[32]

References[edit]

  1. ^ abcdef"Annual Report 2020 (SEC Form 10-K)"(PDF). U.S. Securities and Exchange Commission. Retrieved May 21, 2021.
  2. ^"Discover Financial Services - Company Profile and News". Bloomberg News. Retrieved July 2, 2020.
  3. ^"A Brief Chronology of Sears History". Sears Brands, LLC. Retrieved August 12, 2009.
  4. ^Barmash, Isadore. "Sears Net Rises 47.4% in Quarter", The New York Times, April 22, 1987.
  5. ^Kagan, Julia. [1]. Investopedia.com, June 27, 2018.
  6. ^[2]. June 1, 2007.
  7. ^“Discover flying solo”. The Green Sheet, July 9, 2007. Retrieved 2016-12-05.
  8. ^"Greenwood 1st phorm careers Company Renamed Discover Bank" (Press release). Discover Financial Services. August 1, 2000. Archived from the original on January 21, 2014.
  9. ^"Discover Bank Locations".
  10. ^"Merger of Discover Financial Services and Pulse EFT Association closes following Pulse member approval" (Press release). Discover Financial Services. January 12, 2005. Archived from the original on December 8, 2012. Retrieved October 22, 2007.
  11. ^Miller, James P. (July 1, 2008). "Discover completes purchase of Diners Club". Chicago Tribune. Archived from the original on July 6, 2008. Retrieved July 1, 2008.
  12. ^"Discover Financial buying Citigroup's Student Loan Corp". Crain's Chicago Business. September 17, 2010. Retrieved December 19, 2014.
  13. ^"Discover Completes Acquisition of the Student Loan Corporation" (Press release). Discover Financial Services. January 11, 2011. Retrieved December 19, 2014 – via Business Wire.
  14. ^"Tree.com Completes Sale of Certain Assets of Home Loan Center, Inc. to Discover" (Press release). Tree.com. June 7, 2012. Archived from the original on May 22, 2013. Retrieved July 14, 2012.
  15. ^Harkness, Brendan. [3]. CreditCardInsider.com, April 7, 2020.
  16. ^"Discover's Fourth Quarter Net Income Grows 31%".
  17. ^"Discover Card Account Center Launches Online Sweepstakes; Click, Pay and Win With SmartCheck on Discovercard.com" (Press release). Discover Financial. Archived from the original on March 31, 2012. Retrieved June 18, 2013.
  18. ^"Discover Card Now Accepted for Cash Advances At Citibank; Discover Card Is Now Accepted At All U.S. Citibank Financial Centers and ATMs" (Press release). Discover Financial. Archived from the original on March 31, 2012. Retrieved June 18, 2013.
  19. ^Kingson, Jennifer A. "Credit Card Issuers Adjust to Open Field", The New York Times, March 26, 2005.
  20. ^Lee Enterprises. "Wal-Mart taps MasterCard for store-branded credit card". stltoday.com.
  21. ^"Discover Lifts The TARP". Forbes. March 17, 2010. Retrieved February 28, 2018.
  22. ^"Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau Order Discover to Pay $200 Million Consumer Refund for Deceptive Marketing". Consumer Financial Protection Bureau.
  23. ^"Discover - Our Company | Discover Card".
  24. ^Metro Business; Discover Is Sponsor For Year 2000 Event
  25. ^Back in Times Square, Toshiba Stands Tall
  26. ^"The Mills Corporation Announces the Grand Opening of Discover Mills". PR Newswire. Retrieved March 9, 2016.
  27. ^Sawicki, Beth (September 21, 2012). "Discover Mills renamed Sugarloaf Mills". Gannett. 11 Alive News. Archived from the original on January 16, 2013. Retrieved March 9, 2016.
  28. ^"Discover - Our Company | Discover Card".
  29. ^"Discover - Our Company | Discover Card".
  30. ^Holmes, Tamara P. "Credit card market share statistics". CreditCards.com, June 22, 2016. Retrieved 2016-11-28.
  31. ^Kiernan, John S. "List of Credit Card Companies & Networks: Differences, Contact Info & More". WalletHub, March 31, 2016. Retrieved 2016-11-28.
  32. ^"Q1 2016: U.S. Credit Card Issuer Snapshot". Retrieved November 28, 2016.

External links[edit]

Источник: https://en.wikipedia.org/wiki/Discover_Financial

Discover Bank Review

Discover is best known for its rewards credit cards, but that’s just a portion of its business. It’s a full-service online bank, as well as a payment services company. Discover offers banking and retirement solutions for individuals. Discover is also a lender, with personal, student and home equity loans available.

Because they are strictly an online bank, Discover doesn’t have local branches that customers can visit in person for banking needs. That doesn’t mean they aren’t accessible, though. Discover is known for its superb customer service, which is available 24 hours a day.

Here’s our review of Discover Bank and its personal banking options to see why it made our list of the Best Online Banks 2021. Discover also earns a spot on our Best Checking Accounts (best for cash back) and Best Online Savings Accounts (best for avoiding fees).

Account details and annual percentage yields (APYs) are accurate as of November 19, 2021.

Account Basics

Checking (Cashback Debit)*

Discover checking account are somewhat unusual in the banking world. That’s because—similar to many of its credit card offerings—Discover checking accounts earn cash back rewards. With the Discover Cashback Debit account, customers can earn 1% cash back on up to $3,000 in debit card purchases every month.

If you maxed out the $3,000 monthly limit, you would earn $30 cash back every month. Over a year, you would earn $360 cash back just by using your debit card for purchases. If you discover card phone number check balance spent $2,000 in debit card purchases monthly, that’s still $240 cash back over a year.

Another feature that Discover is known for with its checking accounts is not charging fees. There are no fees for account maintenance, ordering checks, in-network ATM use, online bill pay or replacement debit cards. Discover Cashback Debit accounts have no minimum balance requirements or activity requirements.

Savings

Discover Bank offers an online savings account with competitive rates that are five times higher than the national average. Discover savings accounts earn 0.40% APY. With $10,000 in your savings account, you would earn over $40 from interest annually. Interest compounds daily and pays out monthly.

There are no fees associated with online savings accounts through Discover. There’s also no minimum balance requirement. Compare that to Bank of America’s Advantage Savings account, which requires a $500 minimum balance to waive its $8 monthly fees.

Money Market

Money market accounts take the earning power of a savings account and also give access to checking features for a more versatile account. The Discover Bank money market account provides customers with ATM access, a debit card and check-writing capabilities.

Convenience isn’t the only high point for Discover’s money market accounts. These accounts offer high earning potential. Account balances under $100,000 earn 0.30% APY. Balances of $100,000 and higher earn 0.35% APY. An account balance of $20,000 saved for five years will earn $60 in the first year and $302 over five years of saving.

Discover’s money market accounts have no fees and no minimum balance requirements. Money market accounts allow you to earn more interest than you would with a traditional checking account.

CDs

Discover Bank certificates of deposit (CDs) are versatile high-yield accounts that offer guaranteed returns for customers. Discover CD terms range from three months to 10 years, depending on your needs.

Discover offers competitive returns on its CDs that are a bit lower than the best CD rates on the market. Here’s a look at the interest-earning potential of Discover’s CD accounts at different term lengths with an initial deposit of $15,000:

Discover offers a total of 12 CD term lengths. In addition to the five CDs shown above, Discover offers term lengths of six months, nine months, 18 months, 24 months, 30 months, four years and seven years.

CD accounts through Discover have a $2,500 minimum deposit. If for some reason you need to access your funds before they reach maturity, you can withdraw them, but you’ll have to pay a penalty. The early withdrawal penalty will depend on the specific length of the CD term. The penalty on a CD with a term under one year is three months’ simple interest.

Opening a CD account is generally considered to be a safe investment because you have FDIC insurance and a guaranteed return, no matter what the market does. Your CD rate is locked in for your term length. The longer your CD term, the higher the rate you’ll receive. You also can create a CD ladder, using Discover CDs with different maturity dates, to build in some flexibility specific to when you withdraw funds.

IRA CDs*

Another option available through Discover is IRA CDs. Customers can choose between Roth IRA CDs and Traditional IRA CDs, depending on their needs. Roth IRA CDs:

  • Are funded with after-tax dollars
  • Contributions aren’t tax-deductible
  • Earnings are tax-free
  • Contributions can be withdrawn at any time without IRS penalty

Traditional IRA CDs are set up differently. Traditional IRA CDs:

  • Are funded with pre-tax money
  • Have tax-deferred earnings
  • Contributions can be tax-deductible up to specific limits
  • Funds can’t be withdrawn without a penalty until age 59½

IRA CDs through Discover can be funded with money from other retirement accounts. Customers also can transfer an IRA from another financial institution into a Discover IRA CD.

Discover’s IRA CD terms range from three months to 10 years and they pay similar APYs to Discover’s regular CDs. Discover IRA CDs can be opened with as little as $2,500.

Access on the Go

Discover customers can access their accounts in several ways. Accounts are always accessible online.

Discover Mobile is the bank’s highly rated mobile app, available on iOS (4.9 stars out of 5 on the App Store) and Android (4.6 stars on Google Play). Not only can you access all of your Discover card phone number check balance accounts through the app, but you also can take advantage of mobile check deposit by taking a photo with your phone or tablet.

Convenience is a huge aspect of Discover’s mobile app. You can easily log into your account through touch ID. iPhone users also can log in discover card phone number check balance face ID. People using the app can enable Quick View, which allows you to see your account balances without actually logging into your account. Discover ATMs can be located through the mobile app as well.

Discover has more than 60,000 ATMs available to customers. All of the ATMs in its network are fee-free ATMs. You may get charged a fee by other banks when using an out-of-network ATM.

Another nice feature is access to Zelle, a digital payment network. Discover and Zelle have partnered up, allowing customers to connect bank accounts to the service easily. Zelle lets you send and receive money between almost every U.S.-based bank account. There are no fees charged for this service.

Pros

  • 1% cash back on up to $3,000 per month of debit card purchases
  • No monthly fees, overdraft fees or minimum balances
  • Online bill pay feature
  • 60,000+ fee-free ATMs
  • U.S.-based customer service available 24/7 365 days a year
  • Highly rated mobile app 
  • Competitive APYs on savings accounts and CDs 
  • IRA CDs available for retirement investments 
  • Diverse range of accounts for different financial needs: checking, savings, CDs, credit cards, personal loans

Cons

  • No physical locations
  • No auto loans
  • No reimbursement for out-of-network ATM fees

How Discover Bank Stacks Up

Discover hits a home run with its online banking services. They offer competitive rates on most accounts while having no minimum balances or fees. Checking accounts earn 1% cash back, which isn’t very common in the banking world.

Discover stands by its accounts and even offers comparisons to other banks on its website so you can see the differences. Its transparency is great to see. Flexibility is one of Discover’s best traits, evident across all of its banking products.

If the thought of online-only banking scares you, then Discover Bank isn’t the best option for your next bank account. Customers who are okay without a local bank branch should take advantage of high-yield earning with Discover Bank.

Frequently Asked Questions (FAQs)

Does Discover offer any loans?

Yes. Besides its personal banking products, Discover also offers personal loans, student loans and home equity loans.

Personal loans can be taken out through Discover for up to $35,000. The loans have fixed interest rates and can be repaid over a time period ranging from 36 months to 84 months. Those with established credit will qualify for lower APRs than those with an average to poor credit profile. There are no origination fees or other loan fees so long as you pay on time.

Discover student loans cover up to 100% of school costs. Students also can earn a discount for getting good grades. Student loans carry either a variable or fixed interest rate. The specific APR will vary, depending on the creditworthiness of the applicant.

Flexible home equity loans are available through Discover, with terms ranging from 10 years to bank of america 24 hour contact number years. Home equity loan amounts range from $35,000 to $200,000. These loans carry a fixed APR, which will vary based on loan amount and creditworthiness factors.

Is Discover Bank FDIC insured?

Yes, Discover Bank is FDIC insured (FDIC# 5649). The federal government protects your money up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

Discover Bank takes account security seriously. They do this through the use of fraud monitoring, fraud protection, SSL encryption, bill pay protection, and other security measures. Discover customers will never be held responsible for unauthorized banking transactions.

How good a deal is the Discover 1% cash back debit card?

Discover Bank is one of the few banks that still offers significant cash back rewards for debit card purchases. You can earn 1% cash back on 39 degrees c to f to $3,000 in debit card purchases each month.

Cash back can be redeemed as an automatic can i open a bank account with chase online deposit into your Online Savings account, transferred to a Discover Credit Card Cashback Bonus Account or deposited into your Cashback Debit account, Online Savings account or Money Market account. Rewards do not expire so long as your account is kept in good standing.

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Источник: https://www.forbes.com/advisor/banking/discover-bank-review/

Update My Information

Cash Back Credit Cards: Discover it® Cash Back, Gas & Restaurant Card, NHL® Discover it®

Travel Credit Card: Discover it® Miles

Student Credit Cards: Discover it Student® Cash Back, Student Chrome Card

Secured Credit Card: Discover it® Secured

Business Credit Card: Discover it® Business Card

Cash Back Credit Cards
Intro purchase APR is 0% for 14 months from date of account opening then the standard purchase APR i was made for loving you acoustic guitar. Intro Balance Transfer APR is 0% for 14 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 11.99% variable to 22.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of citibank govcc travel card login amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Travel Credit Card
Intro purchase APR is 0% for 14 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 10.99% for 14 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 11.99% variable to 22.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay discover card phone number check balance exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Student Credit Cards
Intro purchase APR is 0% for 6 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 10.99% for 6 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 12.99% - 21.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever capital one mobile app verification greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Secured Credit Card
22.99% standard variable purchase APR. Intro Balance Transfer APR is 10.99% for 6 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Business Credit Card
Intro guardian savings bank lexington ky APR is 0% for 12 months from date of account opening then the standard purchase APR applies. Standard purchase APR: 12.99% variable to 20.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 5% of the amount of each transfer. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

NHL and the NHL Shield are registered trademarks and NHL.TV is a trademark of the National Hockey League. NHL and NHL team marks are the property of the NHL and its teams. © NHL 2021. All Rights Reserved.

Источник: https://www.discover.com/credit-cards/help-center/faqs/update-information.html

Can Discover Balance Transfer to a Checking Account?

Balance transfers are a great tool to use in order to pay off large amounts of debt. The intro 0% APR period offered by various balance transfer credit cards such as the Discover it Cash Back card makes it ideal for preventing interest from building up. 

Apart from directly transferring debt balances, you can also balance transfer money to your checking account to use as cash. Let’s take a deeper dive into understanding the process as well as looking at the pros and cons of balance transferring from a Discover card to your checking account. 

>>Related:How do balance transfer cards work?

How Does a Balance Transfer to a Checking Account Work?

When opening a new balance transfer card, customers typically move debt from previous credit cards to the new one. Sometimes this can be done by writing a check for that debt amount directly to the company. However, under the same logic, you can also write a check for that money amount to your own checking account, as long as the amount is within your credit line. From there, you can pay off the original debt with the funds in your account, and your new debt would be with the balance transfer card company. 

>>Related:How do I balance transfer with Discover?

Balance Transfer Check Options

For Discover, you can see if balance transfer checks are viable for you by logging into your Discover account and looking for your balance transfer options. When considering balance transfer check options, you should consider discover card phone number check balance relationship between APR, initial transfer fees, and the promotion time duration. Typically, 0% APR would correspond with a higher transfer fee and a shorter time duration. If you wanted a longer time duration to pay off your debt, you would typically see a flipped situation: a small APR and 0% transfer fees. The faster you can pay off your debt, the better. However, always be confident that you have enough time in your promotional period; once the promotion ends, your APR will shoot up drastically.

Sometimes Discover, or whoever your credit card company is, will send you physical checks in the mail to use. If you are thinking about using these balance transfer checks for your personal checking account, consider the APR, initial transfer fee, and promotion time period, just like you would online.

Pros and Cons of Checking Account Balance Transfers

The major pros behind using a balance transfer for your checking account are the minimal APR promotional period and the access to immediate cash. By having a balance transfer to your checking account, you have a lot of flexibility to pay off debts or make other purchases. It is also possible to have the balance transfer build up interest for you in a savings account; however, it can be difficult to build up a significant amount before your promotional APR ends and you have to pay back your principal.

The major cons to consider are the high APR post-promotion and the high risks involved. If you fail to make a payment on time, Discover has the ability to revoke your promotional APR, and you could start paying a very high-interest rate immediately! Additionally, if you spend discover card phone number check balance checking account balance transfer on making purchases rather than paying off debt, you could come out of the promotional period with even more debt and interest to pay off than you did before. Always be wise with managing your payback period within the promotion time frame to prevent these major consequences.

The Important Difference Between Cash Advances and Balance Transfers

Cash advances are another way to move money into your checking account from your credit card. With cash advances, you can actually use your credit line to get cash directly from a bank or an ATM. 

However, cash advances are very different from balance transfers because of the higher fees and interest. For example, in the case of the Discover it Cash Back card, you would likely pay a 5% transaction fee in addition to 24.99% APR that starts building the moment you get your cash! Unlike balance transfers, cash advances have no grace period with 0% APR, so if you are looking to transfer money from your credit line to your debit account, be sure to make clear whether you are doing a balance transfer or a cash advance—it can make a huge difference.

>>Related:Can Credit Cards be used at the ATM?

Conclusion

When it comes to balance transfers, Discover often gives you a lot of how to pay a discover card bill to get the money. Transfers to checking accounts are possible, but definitely make sure to weigh the pros and cons in your personal situation. Keep track of your ability to make payments on time, and balance transfers can be a very powerful tool.

To learn more about balance transfer, check out this article where we answered the most popular questions about balance transfer credit cards on Reddit.

Looking to apply for a balance transfer card?See our list of the best balance transfer credit cards.

Источник: https://clyde.ai/article/64-can-discover-balance-transfer-to-a-checking-account

Pros Explained 

  • Cash-back bonus on debit card purchases.Cash back on credit cards is pretty standard, but Discover rather uniquely offers a 1% cash-back bonus on anything you buy with your debit card, up to $3,000 in purchases a month. You could potentially earn up to $360 annually. 
  • No fees. Discover Bank's checking account boasts no fees—no monthly minimum fees or fees for insufficient funds. Plus, you won’t get dinged with a charge for returned items, or should you close your account.
  • Large ATM network. The Discover debit card is accepted at 415,000 ATMs in the U.S overall. Account-holders can make withdrawals at no charge at some 60,000 ATMs belonging to the Allpoint and MoneyPass networks. Using a machine outside these networks might incur a surcharge imposed by the third-party ATM owner. Discover itself, however, never charges a fee for ATM use.

Cons Explained 

  • One brick-and-mortar location. True to its name, Discover Online Banking has but one actual branch, in Greenwood, Del. So if you like face-to-face contact, this isn't the institution for you.
  • High minimum CD deposits. While Discover Bank's interest rates for its certificate of deposit stack up nicely against the competition's, you'll need at least $2,500 to get started. This sum skews a bit high: Other online banks allow you to open a CD with as little as $500 or $1,000.

Who Is Discover Online Banking Best For? 

Discover Online Banking should be a good fit for those seeking a digital bank that offers a suite of different services.

It might be a particularly good fit for those who:

  • Prefer paperless, digital transactions
  • Hate paying fees
  • Typically use their debit card for day-to-day transactions 
  • Prefer to bank with an established "name" financial institution 

What Does Discover Online Banking Offer? 

As you might expect from the banking division of a major financial services company, Discover Bank offers an array of products and services:

  • Checking account
  • Savings account
  • Money market account  
  • Certificates of Deposit
  • IRAs

Discover Checking Account

A major feature of the Discover Checking Account is its cash-back debit card. The 1% cash-back reward strictly applies to purchases, though. ATM transactions, money orders, loan payments made with your debit card, and payments using peer-to-peer platforms aren’t eligible for cash-back rewards. 

Besides cash-back on your cards, there are no monthly maintenance fees, insufficient funds, or a fee for returned items or stop payment orders. There’s no minimum to open an account, and there’s no monthly minimum balance to keep the account open. 

Other perks include free checks.

Digital-only banks like Discover's only allow you to withdraw cash from ATMs; you can't deposit cash or physical checks. Discover lets you deposit paper checks via its mobile banking app, or by mail to a Salt Lake City processing center.

Discover Savings Account

Like the checking account, Discover Savings Account doesn't require any minimum to open or maintain the account. As of September 20, 2021, the annual percentage yield (APY) is 0.40%, which is higher than the average national savings rate of 0.06%.

Discover Bank’s no-fees features apply here too: The account is free of no monthly maintenance or insufficient funds charges. While federal law Regulation D prohibits account holders from making more than six withdrawals or transfers per from a money market or savings account within a month, you won’t be dinged with a fee for excessive withdrawals, either. However, if it’s a recurring problem, your account might fall in danger of being closed.

Discover Money Market Account

While there’s no ongoing minimum required to maintain a Discover Money Market account, you’ll need at least $2,500 minimum to open it. There are two interest rates: If your balance is less than $100,000, you’ll earn an APY of 0.30%. If it’s more than $100,000, you’ll get a slight bump of 0.35%. 

Once opened, the account generates no monthly maintenance fees, no fees for insufficient funds, or if you make more than six withdrawals or transfers in a given month.

Money market accounts are similar to savings accounts in that they’re a deposit account that generates interest on your money. However, you can typically withdraw funds more easily, usually via a linked debit card; the account may also come with check-writing privileges.

Discover Certificate of Deposit (CD)

Discover’s high-yield certificates of deposit (CD) give you the option of tucking away a sum of money for a set amount of time. CDs usually earn a higher interest rate than a standard savings or checking account. And the longer your term, the more you can earn. The minimum amount for an opening deposit is $2,500. Discover’s high-yield CDs range from three months to 10 years, and the interest rates are as follows:

Discover Bank CD Rates
TermAPY
3 Months0.20%
6 Months0.25%
9 Months0.30%
12 Months0.50%
18 Months0.50%
24 Months0.55%
30 Months0.60%
36 Months0.60%
48 Months0.65%
60 Months0.80%
7 Years0.80%
10 Years0.80%

Should you need to take your money out early, you’ll get hit with an early withdrawal penalty. How much you’ll get dinged depends on the term of the CD: 

Discover Bank CD Early Withdrawal Penalties
TermEarly Withdrawal Fee 
Less than 1 year3 months simple interest
1 year to less than 4 years6 months simple interest
4 years to less than 5 years9 months simple interest 
5 years to less than 7 years 18 months simple interest 
7 years to less than 10 years 24 months simple interest 

Your CD needs to be open for at least eight days before you can pull money.

Discover IRAs

Discover offers both an Individual Retirement Account CD and an IRA Savings Account. The IRA CD requires a $2,500 minimum and offers APYs comparable to those of the regular CDs. The IRA Savings has no minimum and currently offers a 0.40% APY. The retirement accounts can be either traditional or Roth IRAs.

Discover Credit Cards

Discover has a handful of no-annual-fee credit cards in its network, including a travel card, student card, and gas and restaurant card. Technically speaking, though, these cards are not part of Online Banking but offered through another division of its parent, Discover Financial Services, rather confusingly known as Discover Bank. You don't need to be an Online Banking customer to apply for a Discover credit card; nor does being an Online Banking account-holder or grant you special access to these cards.

Cash-Back Cards

General Travel Rewards Cards

Secured Credit Cards 

Business Credit Cards 

Other Financial Services Offered by Discover

As with the credit cards, the products listed below are technically offered not through Online Banking, but since they are part of Discover Financial Services, the parent company, we list them here as a service.

Discover Bank Customer Service 

Discover Online Banking offers 24/7 customer phone support, 365 days a year at 1-800-347-2683 —with reps based entirely in the U.S., as the company likes to emphasize. You can also reach out to customer support by chat. And like most banks, you can deposit a check and access your banking information and financial transactions through its mobile app. 

According to the J.D. Power 2021 U.S. Credit Card Satisfaction Study, among credit card issuers, Discover has the second highest ranking with a score of 837. And per the J.D. Power 2021 U.S. Banking Mobile App Satisfaction Study, Discover also ranked in second place in online credit north east texas football scores satisfaction.

In 2012, Discover Financial Services paid out $200 million to 3.5 million customers for deceptive practices—such as enrolling clients in products like its payment protection plans, without their permission. Discover also paid a civil fine of $7 million both to the Consumer Financial Protection Bureau's (CFPB) Civil Penalty Fund and to the U.S. Treasury.

How to Bank With Discover Online Banking 

Opening an Online Bank account is a simple and straightforward process. Whether you’re an existing Discover customer (a card-holder, loan borrower) or are a new one, you can open an account online in minutes. 

Verdict

Discover Online Banking is an excellent option for those who feel comfortable with a completely digital financial platform. The generous cash-back bonus on its debit card, lack of fees, and around-the-clock service make it a standout in many ways. The interest rates offered on its accounts are competitive. However, Discover Online Banking's options are limited to the bare bones of banks: checking, savings, certificates of deposits, and money market accounts. Beyond that, there are a few IRA account options available. If you're looking for a financial institution that offers a full suite of products and services (i.e., credit cards, mortgages, personal loans, and wealth management), you might be better off looking elsewhere. While other Discover card phone number check balance divisions do offer some of bank of america visa card customer service number options, it's not clear if there's much interaction among them—and if using one product benefits you with getting another. Likewise, if you like to do your banking in person, Discover Online Banking probably isn't for you. The company's customer reps are friendly and knowledgable, but it's not the same as developing a relationship with the personnel at a physical branch.

Methodology

Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected more than 20 data points across more than 80 banks including products available, interest rates, fees, and accessibility to ensure that our content helps users make the right decision for their savings and banking needs.

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .

Источник: https://www.investopedia.com/discover-bank-review-5069129

Want to transfer a balance to your credit card?

Check here to see if you are eligible to transfer a balance to your Capital One credit card.

Keep in mind, you cannot transfer balances between two Capital One accounts and the total amount of your transfer, including any applicable fees, cannot exceed the amount for which you are eligible. This can be found within your Balance Transfer offer.

Information you'll need to get started

  • Amount you want to transfer
  • Name, account number and payment address of the other creditor

After your balance transfer request is approved

If approved, your balance transfer will be processed immediately. However, the time it takes to reach your other creditor can take about 10 business days.

Keep in mind

  • Balance transfers will not earn Capital One rewards
  • Continue to make your credit card and loan payments until you confirm that the transferred payment has been received by your other creditors
  • The minimum payment on your Capital One card will increase once the transfer is complete
Источник: https://www.capitalone.com

Discover card phone number check balance -

Discover Bank Review

Discover is best known for its rewards credit cards, but that’s just a portion of its business. It’s a full-service online bank, as well as a payment services company. Discover offers banking and retirement solutions for individuals. Discover is also a lender, with personal, student and home equity loans available.

Because they are strictly an online bank, Discover doesn’t have local branches that customers can visit in person for banking needs. That doesn’t mean they aren’t accessible, though. Discover is known for its superb customer service, which is available 24 hours a day.

Here’s our review of Discover Bank and its personal banking options to see why it made our list of the Best Online Banks 2021. Discover also earns a spot on our Best Checking Accounts (best for cash back) and Best Online Savings Accounts (best for avoiding fees).

Account details and annual percentage yields (APYs) are accurate as of November 19, 2021.

Account Basics

Checking (Cashback Debit)*

Discover checking account are somewhat unusual in the banking world. That’s because—similar to many of its credit card offerings—Discover checking accounts earn cash back rewards. With the Discover Cashback Debit account, customers can earn 1% cash back on up to $3,000 in debit card purchases every month.

If you maxed out the $3,000 monthly limit, you would earn $30 cash back every month. Over a year, you would earn $360 cash back just by using your debit card for purchases. If you only spent $2,000 in debit card purchases monthly, that’s still $240 cash back over a year.

Another feature that Discover is known for with its checking accounts is not charging fees. There are no fees for account maintenance, ordering checks, in-network ATM use, online bill pay or replacement debit cards. Discover Cashback Debit accounts have no minimum balance requirements or activity requirements.

Savings

Discover Bank offers an online savings account with competitive rates that are five times higher than the national average. Discover savings accounts earn 0.40% APY. With $10,000 in your savings account, you would earn over $40 from interest annually. Interest compounds daily and pays out monthly.

There are no fees associated with online savings accounts through Discover. There’s also no minimum balance requirement. Compare that to Bank of America’s Advantage Savings account, which requires a $500 minimum balance to waive its $8 monthly fees.

Money Market

Money market accounts take the earning power of a savings account and also give access to checking features for a more versatile account. The Discover Bank money market account provides customers with ATM access, a debit card and check-writing capabilities.

Convenience isn’t the only high point for Discover’s money market accounts. These accounts offer high earning potential. Account balances under $100,000 earn 0.30% APY. Balances of $100,000 and higher earn 0.35% APY. An account balance of $20,000 saved for five years will earn $60 in the first year and $302 over five years of saving.

Discover’s money market accounts have no fees and no minimum balance requirements. Money market accounts allow you to earn more interest than you would with a traditional checking account.

CDs

Discover Bank certificates of deposit (CDs) are versatile high-yield accounts that offer guaranteed returns for customers. Discover CD terms range from three months to 10 years, depending on your needs.

Discover offers competitive returns on its CDs that are a bit lower than the best CD rates on the market. Here’s a look at the interest-earning potential of Discover’s CD accounts at different term lengths with an initial deposit of $15,000:

Discover offers a total of 12 CD term lengths. In addition to the five CDs shown above, Discover offers term lengths of six months, nine months, 18 months, 24 months, 30 months, four years and seven years.

CD accounts through Discover have a $2,500 minimum deposit. If for some reason you need to access your funds before they reach maturity, you can withdraw them, but you’ll have to pay a penalty. The early withdrawal penalty will depend on the specific length of the CD term. The penalty on a CD with a term under one year is three months’ simple interest.

Opening a CD account is generally considered to be a safe investment because you have FDIC insurance and a guaranteed return, no matter what the market does. Your CD rate is locked in for your term length. The longer your CD term, the higher the rate you’ll receive. You also can create a CD ladder, using Discover CDs with different maturity dates, to build in some flexibility specific to when you withdraw funds.

IRA CDs*

Another option available through Discover is IRA CDs. Customers can choose between Roth IRA CDs and Traditional IRA CDs, depending on their needs. Roth IRA CDs:

  • Are funded with after-tax dollars
  • Contributions aren’t tax-deductible
  • Earnings are tax-free
  • Contributions can be withdrawn at any time without IRS penalty

Traditional IRA CDs are set up differently. Traditional IRA CDs:

  • Are funded with pre-tax money
  • Have tax-deferred earnings
  • Contributions can be tax-deductible up to specific limits
  • Funds can’t be withdrawn without a penalty until age 59½

IRA CDs through Discover can be funded with money from other retirement accounts. Customers also can transfer an IRA from another financial institution into a Discover IRA CD.

Discover’s IRA CD terms range from three months to 10 years and they pay similar APYs to Discover’s regular CDs. Discover IRA CDs can be opened with as little as $2,500.

Access on the Go

Discover customers can access their accounts in several ways. Accounts are always accessible online.

Discover Mobile is the bank’s highly rated mobile app, available on iOS (4.9 stars out of 5 on the App Store) and Android (4.6 stars on Google Play). Not only can you access all of your Discover accounts through the app, but you also can take advantage of mobile check deposit by taking a photo with your phone or tablet.

Convenience is a huge aspect of Discover’s mobile app. You can easily log into your account through touch ID. iPhone users also can log in through face ID. People using the app can enable Quick View, which allows you to see your account balances without actually logging into your account. Discover ATMs can be located through the mobile app as well.

Discover has more than 60,000 ATMs available to customers. All of the ATMs in its network are fee-free ATMs. You may get charged a fee by other banks when using an out-of-network ATM.

Another nice feature is access to Zelle, a digital payment network. Discover and Zelle have partnered up, allowing customers to connect bank accounts to the service easily. Zelle lets you send and receive money between almost every U.S.-based bank account. There are no fees charged for this service.

Pros

  • 1% cash back on up to $3,000 per month of debit card purchases
  • No monthly fees, overdraft fees or minimum balances
  • Online bill pay feature
  • 60,000+ fee-free ATMs
  • U.S.-based customer service available 24/7 365 days a year
  • Highly rated mobile app 
  • Competitive APYs on savings accounts and CDs 
  • IRA CDs available for retirement investments 
  • Diverse range of accounts for different financial needs: checking, savings, CDs, credit cards, personal loans

Cons

  • No physical locations
  • No auto loans
  • No reimbursement for out-of-network ATM fees

How Discover Bank Stacks Up

Discover hits a home run with its online banking services. They offer competitive rates on most accounts while having no minimum balances or fees. Checking accounts earn 1% cash back, which isn’t very common in the banking world.

Discover stands by its accounts and even offers comparisons to other banks on its website so you can see the differences. Its transparency is great to see. Flexibility is one of Discover’s best traits, evident across all of its banking products.

If the thought of online-only banking scares you, then Discover Bank isn’t the best option for your next bank account. Customers who are okay without a local bank branch should take advantage of high-yield earning with Discover Bank.

Frequently Asked Questions (FAQs)

Does Discover offer any loans?

Yes. Besides its personal banking products, Discover also offers personal loans, student loans and home equity loans.

Personal loans can be taken out through Discover for up to $35,000. The loans have fixed interest rates and can be repaid over a time period ranging from 36 months to 84 months. Those with established credit will qualify for lower APRs than those with an average to poor credit profile. There are no origination fees or other loan fees so long as you pay on time.

Discover student loans cover up to 100% of school costs. Students also can earn a discount for getting good grades. Student loans carry either a variable or fixed interest rate. The specific APR will vary, depending on the creditworthiness of the applicant.

Flexible home equity loans are available through Discover, with terms ranging from 10 years to 30 years. Home equity loan amounts range from $35,000 to $200,000. These loans carry a fixed APR, which will vary based on loan amount and creditworthiness factors.

Is Discover Bank FDIC insured?

Yes, Discover Bank is FDIC insured (FDIC# 5649). The federal government protects your money up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

Discover Bank takes account security seriously. They do this through the use of fraud monitoring, fraud protection, SSL encryption, bill pay protection, and other security measures. Discover customers will never be held responsible for unauthorized banking transactions.

How good a deal is the Discover 1% cash back debit card?

Discover Bank is one of the few banks that still offers significant cash back rewards for debit card purchases. You can earn 1% cash back on up to $3,000 in debit card purchases each month.

Cash back can be redeemed as an automatic monthly deposit into your Online Savings account, transferred to a Discover Credit Card Cashback Bonus Account or deposited into your Cashback Debit account, Online Savings account or Money Market account. Rewards do not expire so long as your account is kept in good standing.

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Источник: https://www.forbes.com/advisor/banking/discover-bank-review/

How to Know If Your Credit Card Is Still Active

To use your credit card for purchases and other transactions, it must be open, active, and in good standing. Your credit card can become inactive and thereby unusable in certain circumstances.

There are a few ways a card can become inactive. If you haven’t used your credit card in several months—or years even—the credit card issuer may deactivate the card. Or, if you’ve fallen behind on your payments, your purchasing privileges may be suspended. The credit card can also become inactive upon expiration with no-issuance of a new card.

An inactive credit card will be declined when you try to use it. So, to save yourself a little embarrassment and the hassle of finding a backup payment option, check to see whether it is active before using it.

Call Customer Service

The simplest way to clear up any question about whether your credit card is still active is to call the issuer and ask. Call the number on the back of your card to inquire about the status of your account. If inactive, customer service can likely reactivate.

Try to Use It

If you don’t want to call customer service, you can test your credit card’s status by using it to make a purchase. A declined card is a sign that it is no longer active; however, it could also mean a number of other things, such as the cards are expired or you've reached your credit limit. For those reasons, it is wise to carry additional forms of payment.

What if you lost or misplaced the credit card, and you don't remember the credit card number? You can get the card issuer’s number from their website and give them your social security number to locate your account (make sure you're at the correct website before giving out your personal information).T The card issuer can send you a replacement credit card if your account is still active.

Check Your Credit Report

Finally, your credit report can give you an idea about your credit card status. Credit card issuers generally report credit card statuses to the credit bureaus once per month. If your credit card is closed, your credit report will probably reflect that. It won't, however, tell you why your account was closed. You'll have to contact your former credit card issuer to get that information.

What to Do If Your Card Is Inactive

Some inactive credit cards can be reactivated by just calling your credit card issuer and asking. You may have to catch up on a delinquent balance before you will be allowed to use your card again. Unfortunately, if it is completely closed, you may not be able to open it up again, especially if it was closed because of delinquency.

Check Your Balance and Available Credit, Too

Once you've confirmed that your credit card is still active, you need to know how much you're able to charge. Ask the issuer or check your account for your current balance and available credit before making any purchases. That way you can be sure you're not exceeding your credit limit.

You're still responsible for making regular minimum payments on your balance, even if your credit card is inactive. Missing your credit card payments has serious consequences, including late fees and damage to your credit score.

Frequently Asked Questions (FAQs)

How long will a credit card remain active without being used?

The amount of time that a credit card can sit unused but active differs from issuer to issuer. Most credit card companies will close the account in anywhere from 12 to 24 months of not being used. If you have credit cards associated with a particular retail store, it may have a longer period before being closed.

Should I keep a zero balance on my credit card?

While having a zero balance on your credit card won't hurt your score, if the card goes unused long enough that the credit card issuer closes the account, it could have a negative impact on your credit report. Without the recent activity, lenders won't have a recent borrowing history to determine if you are a responsible borrower or not. 

Источник: https://www.thebalance.com/how-to-know-if-your-credit-card-still-active-960154

Want to transfer a balance to your credit card?

Check here to see if you are eligible to transfer a balance to your Capital One credit card.

Keep in mind, you cannot transfer balances between two Capital One accounts and the total amount of your transfer, including any applicable fees, cannot exceed the amount for which you are eligible. This can be found within your Balance Transfer offer.

Information you'll need to get started

  • Amount you want to transfer
  • Name, account number and payment address of the other creditor

After your balance transfer request is approved

If approved, your balance transfer will be processed immediately. However, the time it takes to reach your other creditor can take about 10 business days.

Keep in mind

  • Balance transfers will not earn Capital One rewards
  • Continue to make your credit card and loan payments until you confirm that the transferred payment has been received by your other creditors
  • The minimum payment on your Capital One card will increase once the transfer is complete
Источник: https://www.capitalone.com

Can Discover Balance Transfer to a Checking Account?

Balance transfers are a great tool to use in order to pay off large amounts of debt. The intro 0% APR period offered by various balance transfer credit cards such as the Discover it Cash Back card makes it ideal for preventing interest from building up. 

Apart from directly transferring debt balances, you can also balance transfer money to your checking account to use as cash. Let’s take a deeper dive into understanding the process as well as looking at the pros and cons of balance transferring from a Discover card to your checking account. 

>>Related:How do balance transfer cards work?

How Does a Balance Transfer to a Checking Account Work?

When opening a new balance transfer card, customers typically move debt from previous credit cards to the new one. Sometimes this can be done by writing a check for that debt amount directly to the company. However, under the same logic, you can also write a check for that money amount to your own checking account, as long as the amount is within your credit line. From there, you can pay off the original debt with the funds in your account, and your new debt would be with the balance transfer card company. 

>>Related:How do I balance transfer with Discover?

Balance Transfer Check Options

For Discover, you can see if balance transfer checks are viable for you by logging into your Discover account and looking for your balance transfer options. When considering balance transfer check options, you should consider the relationship between APR, initial transfer fees, and the promotion time duration. Typically, 0% APR would correspond with a higher transfer fee and a shorter time duration. If you wanted a longer time duration to pay off your debt, you would typically see a flipped situation: a small APR and 0% transfer fees. The faster you can pay off your debt, the better. However, always be confident that you have enough time in your promotional period; once the promotion ends, your APR will shoot up drastically.

Sometimes Discover, or whoever your credit card company is, will send you physical checks in the mail to use. If you are thinking about using these balance transfer checks for your personal checking account, consider the APR, initial transfer fee, and promotion time period, just like you would online.

Pros and Cons of Checking Account Balance Transfers

The major pros behind using a balance transfer for your checking account are the minimal APR promotional period and the access to immediate cash. By having a balance transfer to your checking account, you have a lot of flexibility to pay off debts or make other purchases. It is also possible to have the balance transfer build up interest for you in a savings account; however, it can be difficult to build up a significant amount before your promotional APR ends and you have to pay back your principal.

The major cons to consider are the high APR post-promotion and the high risks involved. If you fail to make a payment on time, Discover has the ability to revoke your promotional APR, and you could start paying a very high-interest rate immediately! Additionally, if you spend your checking account balance transfer on making purchases rather than paying off debt, you could come out of the promotional period with even more debt and interest to pay off than you did before. Always be wise with managing your payback period within the promotion time frame to prevent these major consequences.

The Important Difference Between Cash Advances and Balance Transfers

Cash advances are another way to move money into your checking account from your credit card. With cash advances, you can actually use your credit line to get cash directly from a bank or an ATM. 

However, cash advances are very different from balance transfers because of the higher fees and interest. For example, in the case of the Discover it Cash Back card, you would likely pay a 5% transaction fee in addition to 24.99% APR that starts building the moment you get your cash! Unlike balance transfers, cash advances have no grace period with 0% APR, so if you are looking to transfer money from your credit line to your debit account, be sure to make clear whether you are doing a balance transfer or a cash advance—it can make a huge difference.

>>Related:Can Credit Cards be used at the ATM?

Conclusion

When it comes to balance transfers, Discover often gives you a lot of options to get the money. Transfers to checking accounts are possible, but definitely make sure to weigh the pros and cons in your personal situation. Keep track of your ability to make payments on time, and balance transfers can be a very powerful tool.

To learn more about balance transfer, check out this article where we answered the most popular questions about balance transfer credit cards on Reddit.

Looking to apply for a balance transfer card?See our list of the best balance transfer credit cards.

Источник: https://clyde.ai/article/64-can-discover-balance-transfer-to-a-checking-account

Discover Card Help Center

Apply for a Card

Discover credit card offers rewards, like the Discover it® Cash Back credit card which offers 5% Cash back each quarter when you activate, up to the quarterly maximum, with no annual fee. Finding out if you qualify is easy – with no harm to your credit check.

Cash Back Credit Cards: Discover it® Cash Back, Gas & Restaurant Card, NHL® Discover it®

Travel Credit Card: Discover it® Miles

Student Credit Cards: Discover it Student® Cash Back, Student Chrome Card

Secured Credit Card: Discover it® Secured

Business Credit Card: Discover it® Business Card

Cash Back Credit Cards
Intro purchase APR is 0% for 14 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 0% for 14 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 11.99% variable to 22.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Travel Credit Card
Intro purchase APR is 0% for 14 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 10.99% for 14 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 11.99% variable to 22.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Student Credit Cards
Intro purchase APR is 0% for 6 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 10.99% for 6 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 12.99% - 21.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Secured Credit Card
22.99% standard variable purchase APR. Intro Balance Transfer APR is 10.99% for 6 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Business Credit Card
Intro purchase APR is 0% for 12 months from date of account opening then the standard purchase APR applies. Standard purchase APR: 12.99% variable to 20.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 5% of the amount of each transfer. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

NHL and the NHL Shield are registered trademarks and NHL.TV is a trademark of the National Hockey League. NHL and NHL team marks are the property of the NHL and its teams. © NHL 2021. All Rights Reserved.

Источник: https://www.discover.com/credit-cards/help-center/

Update My Information

Cash Back Credit Cards: Discover it® Cash Back, Gas & Restaurant Card, NHL® Discover it®

Travel Credit Card: Discover it® Miles

Student Credit Cards: Discover it Student® Cash Back, Student Chrome Card

Secured Credit Card: Discover it® Secured

Business Credit Card: Discover it® Business Card

Cash Back Credit Cards
Intro purchase APR is 0% for 14 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 0% for 14 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 11.99% variable to 22.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Travel Credit Card
Intro purchase APR is 0% for 14 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 10.99% for 14 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 11.99% variable to 22.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Student Credit Cards
Intro purchase APR is 0% for 6 months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is 10.99% for 6 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: 12.99% - 21.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Secured Credit Card
22.99% standard variable purchase APR. Intro Balance Transfer APR is 10.99% for 6 months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee on balances transferred by and up to 5% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

Business Credit Card
Intro purchase APR is 0% for 12 months from date of account opening then the standard purchase APR applies. Standard purchase APR: 12.99% variable to 20.99% variable, based on your creditworthiness. Cash APR: 24.99% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 5% of the amount of each transfer. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.

NHL and the NHL Shield are registered trademarks and NHL.TV is a trademark of the National Hockey League. NHL and NHL team marks are the property of the NHL and its teams. © NHL 2021. All Rights Reserved.

Источник: https://www.discover.com/credit-cards/help-center/faqs/update-information.html

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