New discover bank
Discover Bank is a popular online bank that offers a range of financial products and services. Here are some of the key features and benefits of Discover Bank:
Checking Accounts:
- Discover Cashback Debit: Earn 1% cashback on up to $3,000 in debit card purchases each month.
- Discover Online Savings Account: Earn 2.10% APY on balances up to $100,000.
- Discover CD: Earn a fixed interest rate for a set term, ranging from 3 months to 10 years.
Savings Accounts:
- Discover Online Savings Account: Earn 2.10% APY on balances up to $100,000.
- Discover High-Yield Savings Account: Earn 2.10% APY on balances up to $100,000.
Credit Cards:
- Discover it Cash Back: Earn 5% cashback on various categories throughout the year, such as gas stations, grocery stores, and restaurants.
- Discover it Chrome: Earn 2% cashback at gas stations and restaurants, and 1% cashback on all other purchases.
- Discover it Miles: Earn 1.5 miles per dollar spent, with no foreign transaction fees.
Loans:
- Personal Loans: Discover offers personal loans with fixed interest rates and repayment terms ranging from 36 to 84 months.
- Student Loans: Discover offers student loans with fixed interest rates and repayment terms ranging from 5 to 20 years.
Other Services:
- Mobile Banking App: Discover's mobile app allows you to manage your accounts, transfer funds, and pay bills on the go.
- Online Banking: Discover's online banking platform allows you to manage your accounts, view statements, and transfer funds online.
- Customer Service: Discover offers 24/7 customer service, with representatives available to assist with any questions or concerns.
Pros and Cons:
Pros:
- High-yield savings accounts and CDs
- Cashback rewards on debit card purchases
- No fees for most services
- 24/7 customer service
- Mobile banking app
Cons:
- Limited branch and ATM network
- No interest on checking accounts
- Some credit cards have annual fees
- Minimum balance requirements for some accounts
Overall, Discover Bank is a great option for those who want to earn high-yield interest on their savings and CDs, and who value the convenience of online banking. However, it may not be the best choice for those who need access to a large network of branches and ATMs.