Discover it® Cash Back
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.
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.