The Discover IT credit card

After applying for the Capital One Platinum Card, I started making one or two very small purchases every month (like a candy bar). When I received my statement, I always paid off the entire balance. This ensured I would not pay any finance charges.

After a few months of this, my FICO rose from 559 to 612. At this point, I went to the Discover website and used their Pre-Approval form to find out if I would qualify for the Discover IT card. To my surprise, I was approved, and given a beginning credit line of $2000.

Out of the 12 credit cards I have, my Discover IT is by far my favorite and most valuable card. My credit limit was increased to $12,000 after less than a year. 

The most useful feature of the Discover IT credit card is called "cash over".  There are a list of major stores where you can purchase an item with your Discover IT card, and receive cash back, just like a debit card, but there is absolutely no fee or different interest rate. You can obtain up to $120 "cash over" every 24 hours. The cash you receive is simply added to your purchase and charged as a regular transaction. No cash advance fees apply whatsoever.

I have seen no other credit card that offers this extremely useful and powerful feature. Because of this, my Discover IT is my "go-to" card for most transactions.

Another great thing about Discover, is their minimum monthly payments are the lowest I have seen. It starts out at a $20 minimum payment, which of course increases as your balance goes up.

To see if you are pre-approved for the Discover IT card without any credit inquiry, visit the pre-approval tool on the Discover website at:

https://www.discovercard.com/application/preapproval/initial