Discover it® Cash Back

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Claire Dickey @ClaireDickey  in  Cash Back Advertiser Disclosure
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Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Discover's secure website

Best for rotating bonus categories

Annual Fee:
$0
Purchase Intro APR:
0% for 14 months
Balance Transfer Intro APR:
0% for 14 months
Regular APR:
14.24% - 25.24% Variable
Terms and Restrictions Apply | Rates and Fees

Bankrate Rating

Commonly used for: 0% Introductory APR, Cash Back, EMV, Excellent Credit, Free Credit Score, Gas, Mobile Pay Ready, No Annual Fee, No Foreign Transaction Fees, Popular, Price Protection, Rewards, Rotating Cash Back Categories, Unsecured credit card, Zero Fraud Liability.

Score Breakdown

Bankrate Rating

Perks
Rewards
Annual Fee
Intro Bonus
Variable APR
Foreign Transaction Fee

For no annual fee, the Discover it® Cash Back is a great option for those searching for a flexible cash back card.

You’ll earn a significant amount of cash back in different categories each quarter and as a welcome bonus, Discover will double all of the rewards you’ve earned at the end of your first year.

Here are the details:

The Discover it Cash Back will earn you 5% cash back on rotating categories each quarter (up to $1,500 in purchases, then 1%) and 1% on all other purchases (activation required). The remainder of the 2019 cash back calendar is as follows:

  • July through September: Restaurants and PayPal
  • October through December: Amazon.com, Target and Walmart.com

You won’t be charged an annual fee and at the end of your first year of card ownership, Discover will double all of the cash back you’ve earned with their Cashback Match™ feature.

Discover’s list of security features will keep your account safe in the event of card loss or theft. Enjoy free Social Security number and new account alerts, $0 Fraud Liability and a Freeze it® on/off switch for your account, should you suspect any fraudulent activity.

Is this card right for you

If you’re looking for a flexible cash back card with new categories to earn in each quarter, the Discover it Cash Back may be your match.

Should you have any debt to pay off or large purchases coming up, the card offers a 0% introductory APR for 14 months on purchases and balance transfers (14.24% to 25.24% variable APR thereafter). That means you’ll have 14 months to pay off your debt without accruing any interest.

If you travel abroad often, you’ll be pleased to know this card doesn’t charge foreign transaction fees on purchases made outside the United States.

Advantages
  • No annual fee
  • Cashback Match™ doubles the rewards you’ve earned at the end of your first year
  • No foreign transaction fees
  • First late payment fee is waived ($39 thereafter)
Disadvantages
  • Balance transfer fee each time you transfer
  • Must activate your bonus categories each quarter

How much are the rewards worth

Say you maxed out the quarterly bonus category each quarter, effectively spending $1,500 every three months. In doing so,  you’d earn $300 worth of cash back for the year. When you include your Cashback Match™ welcome bonus, you’d earn $600 worth of cash back by the end of your first year.

How to use this card

To get the most use out of the Discover it Cash Back, make sure to max out the quarterly bonus category each quarter.

You can redeem your cash back rewards at any time in any amount as a statement credit, electronic bank deposit, gift card (in $20 increments) or shop on Amazon.com.

If you’re interested in completing a balance transfer, you’ll owe a 3% fee for transfers made before November 10, 2019. All transfers made thereafter will be charged a 5% fee (see terms)*.

To opt in to Discover’s security alerts, activate at www.discover.com/freealerts.

The bottom line

The Discover it® Cash Back can earn you cash back at new places each quarter for no annual fee and a generous first-year welcome bonus.