Discover it® Cash Back Credit Card Review
Discover it® Cash Back from Discover Bank — all information about the credit card.
Good Choose for Cash Back, 0 APR, No Annual Fee, Young couples, Daily use
- Rewards Rate:
- 5% On everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate (on up to $1,500 in purchases each quarter, then 1%).
- 1% Cash Back on all other purchases.
- Intro Offer:
- 2x New cardmembers get double Cash Back in the first year (awarded after the first year).
- Annual Fee:$0
- Purchase Intro APR:0% Intro APR for 15 months from date of account opening
- Regular APR:17.24% - 28.24% Variable
- Balance Transfer APR:17.24% - 28.24% Variable
We recommend more cards
Discover Bank Discover it® Cash Back Rewards Calculator
All benefits
- Cash back
- 5% On everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate (on up to $1,500 in purchases each quarter, then 1%).
- 1% On all other purchases.
Rate and fee information
- Purchase Intro APR
- 0% Intro APR for 15 months from date of account opening
- Purchase APR
- 17.24% - 28.24% Variable
- Intro Balance Transfer APR
- 0% Intro APR for 15 months from date of first transfer
- Balance Transfers APR
- 17.24% - 28.24% Variable
- APR for Cash Advances
- 29.99% Variable
- How to Avoid Paying Interest
- Your due date is at least 25 days after the close of each billing period (at least 23 days for billing periods that begin in February). You will not be charged any interest on purchases if you pay your entire balance by the due date each month.
Fees
- Annual Fee
- $0
- Fees for Balance Transfer
- 3% Intro fee on balances transferred by June 10, 2024 and up to 5% fee for future balance transfers will apply
- Fees for Cash Advances
- Either $10 or 5% of the amount of each cash advance, whichever is greater
- Penalty Fees
- None
- Return Payment
- Up to $41
- Late Payment
- None the first time you pay late. After that, up to $41
Pros & Cons
- Generous rewards program
- Flexible redemptions
- 0% intro APR for purchases and balance transfers
- No annual fee
- No foreign transaction fees
- You must activate the rewards every quarter
- No fixed bonus categories
- Low flat rate
Features
- 0% Intro APR
- No Annual Fee
- No foreign transaction fees
- Cashback
- Payment Flexibility
- Fraud Protection
- Rewards
- Purchase Protection
- Good Credit
- Excellent Credit
About the issuer
Compare with other cards
- $395Annual Fee
- 19.99% - 29.99%Regular APR
- 10,000x10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary.
- NonePurchase Intro APR
- NoneAnnual Fee
- 29.99%Regular APR
- This card doesn't offer cash back, miles or points.
- NonePurchase Intro APR
- NoneAnnual Fee
- 19.99% - 29.99%Regular APR
- 5%Cash Back on hotels and rental cars booked through Capital One Travel.
- 0% Introductory APR for the first 15 months that your account is openPurchase Intro APR
See Another Credit Cards in the Bank
Discover it® Cash Back Review
The Discover it® Cash Back credit card has an ultra-generous bonus offer that matches the rewards in the first year — but that’s not all. A combination of benefits — like a 5% cash back in quarterly rotating categories on up to $1,500 in purchases per quarter (then 1%) and no annual fee — ensures that cashback fans will find it valuable.
Keep reading to find out all that this card has to offer and whether it’s right for you.
Discover it® Cash Back: pros and cons
| Pros: | Cons: |
|---|---|
| Generous rewards program. When you activate, you can earn 5% cash back on up to $1,500 in purchases (1% after) in different categories every quarter, such as Amazon.com, gas stations, restaurants, grocery stores, and PayPal. A one-of-a-kind intro offer is part of the deal too - Discover will automatically match the cash back you earn at the end of the first year dollar-for-dollar. | You must activate the rewards every quarter. To take full advantage of the card’s reward program, you must activate it each quarter. If not, you’ll receive just 1% cash back on those purchases. Also, rewards are capped at $1,500 spent per quarter. |
| Flexible redemptions. There are many redemption options to choose from, and there’s no minimum amount to redeem. | No fixed bonus categories. The names in the bonus list category change every quarter. Even though Discover publishes the list in advance, you’ll have to do some planning to ensure you’re able to utilize the bonus limit fully. |
| 0% intro APR for purchases and balance transfers. With this card, you enjoy a 14-month intro APR period on purchases and balance transfers for 14 months. After this period, the APR for both will be 17.24% - 28.24%, depending on your creditworthiness. The 3% Intro Balance Transfer fee is applied on balance transfers made within the intro period specified by Discover, and 5% for all balance transfers after that date. | Low flat rate. Although the rewards rate for the bonus categories is great, all other purchases get a low 1% rewards rate. |
| No annual fee. With the Discover it® Cash Back credit card, you won’t have to pay an annual fee — neither in the first year nor after it. | |
| No foreign transaction fees. The Discover it® Cash Back credit card lets you save on foreign transaction fees, which is a nice feature to have. |
Rewards system in a nutshell
With this credit card, you’ll earn 5% cashback — up to $1,500 in purchases per quarter — on quarterly rotating bonus categories (then 1%). In addition, you earn 1% cashback on all other purchases.
You must activate the bonus categories every quarter to earn at the 5% rate. You can activate it online at Discover.com, through the mobile app, or over the phone (1-800-347-2683).
The rewards system is flexible and comes without a minimum redemption amount, except in the case of instant eCertificates and gift certificates, both of which start at $5. Also, your rewards don’t expire as long as you keep the account open.
Once you’ve earned rewards, you can redeem them in any of the following ways:
- Redeem for cash – You can request an electronic direct deposit to your bank account or apply your rewards as a statement credit to your credit card balance.
- Gift cards – You can redeem your rewards for gift cards or instant eCertificates from Discover’s partners (ranging from $5 to $200 in $5 increments).
- Charitable donations – You can use your rewards to make donations to select charities.
- Shopping at PayPal.com or Amazon.com – To do this, first link your Discover it® Cash Back credit card to your PayPal or Amazon account. Next, make the payment using this card and apply the cashback at checkout.
If you’ve closed your account or not used it in the last 18 months, Discover will either send you a check or credit your account with the reward balance.
Who can benefit from getting the Discover it® Cash Back Credit Card?
If any of the following statements apply to you, this card might be a good choice.
You spend heavily in its bonus categories.
As a category bonus card, the Discover it® Cash Back credit card offers a wide variety of bonus categories. And given that they include gas stations, grocery stores, restaurants, and Amazon, among others, spending a lot in them may be easy to accomplish for many.
Its great sign-up bonus, which doubles the amount of cashback you collect in the first year of card membership, sweetens the deal further. You could turn $300 cashback into $600.
You want flexible redemption options.
The Discover it® Cash Back credit card not only offers several redemption options but also lets you redeem your cash back for amounts as low as $0.01. This makes it a good option for those who don’t use their credit card much. Since there is no minimum redemption limit, users can redeem their rewards as they earn them instead of waiting until they accrue enough rewards to top the minimum requirement.
You have a big purchase coming or are paying a high-interest balance on another credit card.
This card offers you an opportunity to finance a big purchase interest-free if you manage to pay it off in the first 14 months. The same intro APR period of 14 months is applied to balance transfers too. If you’re currently dealing with high-interest debt, this card is an excellent option, and if you do it during a designated period, you’ll pay the intro balance transfer fee of 3% (5% after).
Are there any other benefits?
Yes, there are quite a few of them.
- Free overnight card replacement - If your card gets stolen or lost, you can request free overnight shipping to any street address in the US. Once you receive the card, you can activate it online or over the phone.
- $0 Fraud Liability - You will not be liable in case of any unauthorized charges.
- Turn your account on/off with Freeze it® - If you lose your credit card, you can freeze it through Discover’s mobile app or website so that there are no new cash transfers, balance transfers, or purchases.
- FICO Score for free - Discover provides Credit Scorecard for the cardholders with access to FICO Score and additional information related to the credit history
- No late payment fee the first time - The Discover it® Cash Back credit card forgives your first late payment — but a fee of up to $40 may apply from the second time onward.
- No penalty APR - Missing a credit card payment is never good, especially if you want to maintain a good credit score. But with the Discover it® Cash Back credit card, at least it won’t raise your APR.
- Social security protection - At no extra cost, Discover Bank will send you an alert when a new inquiry or account is listed on your Experian credit report or if your Social Security number is found on any Dark Web website.
Conclusion
If you don’t mind keeping track of how much you’re spending in each category, the Discover it® Cash Back credit card is an attractive option. Its Cashback Match offer matches your rewards at the end of your first year, dollar for dollar, and the rewards program is quite generous. Plus, features like no annual fee and 0% intro APR for 14 months on purchases and balance transfers ensure this card remains light on your pocket.
FAQ
What is the customer service phone number for Discover it® Cash Back Credit Card?
How to check my application status for Discover it® Cash Back Credit Card?
What is Discover Cashback Match?
- NoneAnnual Fee
- 19.99% - 29.99%Regular APR
- 1.5%Cash Back on all purchases.
- NonePurchase Intro APR