Discover it® Cash Back review
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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.
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.
Best for customer satisfaction rating
- Annual Fee:
- $0
- Purchase Intro APR:
- 0% for 14 months
- Balance Transfer Intro APR:
- 0% for 14 months
- Regular APR:
- 13.49% - 24.49% Variable
Bankrate Rating
Discover it® Cash Back: Details and benefits
The Discover it Cash Back earns you 5 percent cash back on rotating categories each quarter (up to $1,500 in purchases, then 1 percent) and 1 percent on all other purchases (activation required). For October through December of this year, you’ll earn on purchases at the following places: 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.
Is the Discover it® Cash Back worth it for you?
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.
If you’re interested in completing a balance transfer, keep in mind you’ll owe a 3 percent fee for the first balance transfer. Additional transfers made thereafter will be charged a 5 percent fee (see terms)*.
Get the most value from the Discover it® Cash Back
Discover’s list of security features will keep your account safe in the event of card loss or theft. You can 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.
To opt into Discover’s security alerts, activate at www.discover.com/freealerts.
How much are the Discover it® Cash Back 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 redeem rewards
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.