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  1. #1
    Registered User New Member
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    Discover IT Card No Late Fees?

    Is it true that there are no late fees with the Discover IT Card? I saw a commercial for this card today and they were promoting the fact that you can miss a payment without a penalty which seems like it would mean no late fees?


  2. Discover IT Card No Late Fees?
  3. #2
    With Discover IT there is no late fee or penalty for your first missed payment. So it is a bit more forgiving, but you if you miss more than one payment then there will be a fee & rate increase.

  4. #3
    After looking into this further it appears that your APR will not increase with Discover IT, even after the first missed payment. If you look at the terms and conditions you will see that there is simply no penalty APR with Discover IT. The Discover More card is no longer listed on the Discover site so IT will be replacing it very shortly.

  5. #4
    Registered User New Member
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    Quote Originally Posted by CreditDave View Post
    After looking into this further it appears that your APR will not increase with Discover IT, even after the first missed payment.
    If that's the case then they better be sending me an IT card to replace the More card.

  6. #5
    Quote Originally Posted by CreditDave View Post
    After looking into this further it appears that your APR will not increase with Discover IT card
    That is correct.
    Need a Card to Build/Rebuild Your Credit With? Read This >> Best Credit Cards For Building Your Credit

  7. #6
    Registered User Junior Member
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    24
    This is the main reason i applied for this card, the rewards program is good but I don't want to have to worry about my interest rate being dramatically increased because i miss a payment by one day. I don't like to use the automated payments either its easy to lose track of how much you are paying out.

  8. #7

  9. #8
    Registered User Junior Member
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    24
    Still waiting for other card issuers to start implementing this... Hopefully Discover will force their hand sooner rather than later.

  10. #9
    Registered User Junior Member
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    34
    Citi has a new commercial out for their Simplicity card which is basically their version of the Discover it card (minus the rewards program) which takes a shot at the new Discover late fee policy. They basically talk about how Citi "never" charges a late fee in reference to the it card charging a late fee the second time you pay late.

  11. #10
    Registered User New Member
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    3
    Quote Originally Posted by Flyer1107 View Post
    Citi has a new commercial out for their Simplicity card which is basically their version of the Discover it card (minus the rewards program) which takes a shot at the new Discover late fee policy. They basically talk about how Citi "never" charges a late fee in reference to the it card charging a late fee the second time you pay late.
    That's right - the Simplicity Card is the only card that never charges late fees, to the best of my knowledge. It's still not smart to pay late since it can kill your score, but at least you won't have to worry about late fees or APR hikes.

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