- This topic has 3 replies, 4 voices, and was last updated 2 years, 10 months ago by
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I have been preapproved for one and would like to get it but both my parents as well as my brother and one friend say that they are not good cards to have if you don’t already have good credit scores. I don’t see how this makes any sense. I thought a credit card is a credit card regardless of the name of the bank on it.
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I think the reason they are believed to be bad is that they seldom have good cards for people with bad credit. Like if you find a card by Discover you are approved for but your scores aren’t great, there is a good chance they have a very high-interest rate as well as fees.
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They get a bad rap in this regard because they were, for the longest time, considered a “rich man’s card”. I have one and I think the fees and APR are fine on it. Nothing too high and nothing too outrageous.
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I think Discover is best for business owners, travelers, and people who do a lot of bigger transactions. I feel like for someone with lower credit or someone looking to build credit, there are way better options out there.
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