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Discover it® Business Card Review: All the Features You Need for No Annual Fee

Review Updated
Lyle Daly
Lyle Daly
| 1 other [ + ]
Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Offer Status

This card is no longer available from the issuer, and as such, some details may be out of date. Visit our Best Credit Cards page for current offers.

Discover's lineup may be full of popular consumer cards, but it also offers the Discover it® Business Card for business owners. This card has all the great perks Discover is known for, including a competitive cash back rate, few of those frustrating credit card fees, and a lucrative welcome bonus. Find out everything you need to know about the Discover it® Business Card in our review.

Our Top Business Credit Card Alternate Options

We suggest taking a good look at various options to pick the perfect card for you and your small business. Remember, not all business credit cards are created equal, and every business has unique needs. To help you out, we've put together a short list of top-notch business credit cards that offer great value across a variety of business types.

Offer Our Rating Welcome Offer Rewards Program APR Learn More
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Earn up to $750 bonus cash back Circle with letter I in it. Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. Earn 5% cash back in select business categories Circle with letter I in it. Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

Intro: Circle with letter I in it. 0% Intro APR on Purchases

Purchases: 0% Intro APR on Purchases, 12 months

Balance Transfers: N/A

Regular: 17.49% - 25.49% Variable

Apply Now for Ink Business Cash® Credit Card

On Chase's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Earn $750 bonus cash back Circle with letter I in it. Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. Earn unlimited 1.5% cash back on every purchase Circle with letter I in it. Earn unlimited 1.5% cash back on every purchase made for your business

Intro: Circle with letter I in it. 0% Intro APR on Purchases

Purchases: 0% Intro APR on Purchases, 12 months

Balance Transfers: N/A

Regular: 17.49% - 23.49% Variable

Apply Now for Ink Business Unlimited® Credit Card

On Chase's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.75 out of 5 stars.
4.75/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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up to 350,000 Miles Circle with letter I in it. Earn 150,000 Miles once you spend $30,000 in the first 3 months, and an additional 200,000 miles once you spend $200,000 in the first 6 months 2X-10X miles Circle with letter I in it. Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions. Earn unlimited 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Travel, where you'll get the best prices on thousands of options.

Intro:

Purchases: N/A

Balance Transfers: N/A

Regular: N/A

Apply Now for Capital One Venture X Business

On Capital One's Secure Website.

Rates & Fees External Link Icon

Full Discover it® Business Card review

This credit card is a good fit for: Business owners interested in earning cash back while avoiding common credit card fees.

Top perks

Unlimited 1.5% cash back

This card earns 1.5% back on purchases, a rate that's in line with several of the best cash back cards.

Unlimited Cashback Match welcome bonus

Discover will automatically match all the cash back you've earned at the end of your first year. This welcome bonus is only available during the first year and for new cardholders, but it can be particularly lucrative since the match is unlimited. For example, if you spent $50,000 in year one, you'd earn $750 in cash back, and then Discover would add another $750.

This is one of the more unique welcome bonuses we've seen, and it has the potential to earn you a lot back.

No annual fee

There's no annual fee for this card, so it won't add to your business expenses.

Read more: Best No Annual Fee Credit Cards

0% intro APR on purchases

The Discover it® Business Card offers a 0% intro APR on purchases for the first 12 months. The go-to 12.99% - 20.99%, variable rate applies after the 0% intro APR expires. If you're just starting or expanding your business and you need short-term financing, this card is a smart choice. You can buy what you need and pay it off without incurring interest for a year. And if you haven't quite paid off the entire balance at the end of the year, your cash back welcome bonus could help with that.

Learn more: Best 0% APR Credit Cards

Free employee cards

You can issue up to 50 employee credit cards and earn the same 1.5% back on your employees' business spending. Discover also lets you set spending limits on your employee cards, which is a good security measure to ensure that no one else can max out your credit line.

No late fee on the first missed payment

Discover doesn't charge you a late fee the first time you miss a payment. To be fair, most credit card companies will waive your first late fee as a courtesy, but it's nice that Discover does this automatically and saves you a phone call.

No foreign transaction fee

Like all Discover credit cards, this card doesn't charge a foreign transaction fee. If you travel internationally or buy from merchants outside the United States, you won't need to worry about paying extra.

No cash back redemption minimum

You can redeem your cash back at any time, even with as little as $0.01. While this may not be the most exciting perk, it's more convenient than needing to wait until you've reached a redemption minimum.

See more options: Best Cash Back Business Credit Cards

What could be improved

Bonus categories

There aren't any spending categories where you'll earn bonus cash back with the Discover it® Business Card. This is a small quibble, considering all the card's benefits. But if your business spends quite a bit in one particular category, it's worth checking out business credit cards that earn bonus rewards in certain spending categories.

Find the best credit card for your needs
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Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

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Suggested credit score

The Discover it® Business Card is aimed at business owners with good to excellent credit -- ideally, a FICO® score of 670 or higher.

Since this is a business credit card, you need a business to apply for it. According to Discover, you must have 100% ownership of a business that's more than one year old to be approved. Note that you can be eligible for a business card even if your business is a sole proprietorship or a side hustle.

The Discover it® Business Card is right for you if:

You'll love having the Discover it® Business Card if you want to keep things simple and use one cash back card for all your business expenses. With its unlimited cash back and the welcome bonus, this card is a great choice for a one-card wallet. It's also ideal for minimizing fees, since it doesn't charge an annual fee, foreign transaction fee, or fees for extra employee cards. In addition, you get your first late fee waived.

Although the Discover it® Business Card doesn't have any glaring flaws, there are credit cards that could earn more back for big spenders. If your business spends over $2,000 to $3,000 per month or it spends a lot in specific categories, you should look for a business card with a higher cash back rate, even if it means paying an annual fee.

Our credit card methodology

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.

FAQs

  • The minimum starting credit limit for the Discover it® Business Card is $500. It's possible to be approved for a much higher credit limit depending on your income and overall creditworthiness.

  • To be approved for a Discover it® Business Card, your business must be at least one year old. You'll also need to own 100% of the business. If your startup meets those requirements, then it's eligible for this Discover card.

  • Yes, you can use the Discover it® Business Card internationally, and it doesn't charge a foreign transaction fee.