It will be possible for you to save some cash on your usual spending in case your credit card pays back money to you. The Discover it® Cash Back will provide you with a high reward rate on different types of day-to-day expenses in exchange for some more effort compared to a regular cash back card.
With the Discover it® card, embark on a financial journey that unlocks a world of benefits. Discover the power of cash back rewards, where every purchase becomes an opportunity to earn. Dive into a 5% cash back rotating category that changes quarterly, offering exciting ways to maximize your rewards. Explore the convenience of no annual fees, ensuring your money works for you, not against you. Uncover the security of $0 fraud liability, providing peace of mind in every transaction. The Discover it® card is not just a card; it’s a key to financial empowerment, a tool for smart spending, and a gateway to a brighter financial future.
This card can become one of the best for the majority of the popular purchases for every season by activating your categories, monitoring your expenditure, and adjusting your habits of spending to the quarterly categories. As a matter of fact, Discover’s Cashback Match might turn out to be the most precious 1st-year offer for a cashback card by making this effort.
Pros and cons of Discover it® Cash Back
| Pros | Cons |
| 1. Provides some of the lowest fees and rates on the market which include foreign transaction charges, no annual fees, charges on the first late payment made by you, or penalty APR. | 1. Compared to several other cash-back programs of other issuers, it is not possible for cardholders to enhance the value of rewards by shifting them to various other loyalty programs by means of a premium Discover Card. |
| 2. It is feasible for the rotating categories to provide the maximum rewards rate that you will ever come across on a no-annual-fee card intended for some well-known and day-to-day categories. | 2. It is feasible for rewards to become hit-or-miss which will depend on whether your expenditure matches the rotating categories and these will be declared within a few months only. |
| 3. The Cashback Match program will double every single cashback generated at the conclusion of the initial year and this helps to make it one of the best welcome offers among no-annual-fee cashback cards out there. | 3. Quarterly activation will be required by the rotating category rewards and this could be rather high maintenance for those individuals who happen to be rewards cardholders for the first time. |
Highlights
- Generate a cashback of 5% on your day-to-day purchases every quarter at various locations such as grocery outlets, Amazon.com, gas stations, and eateries up to the quarterly maximum once it is activated by you.
- Intro Offer: Only Discover will provide you with Unlimited Cashback Match. All the cashback will be matched automatically by Discover which you have generated after the initial year. There will be no maximum rewards or minimal spending whatsoever. It will be feasible for you to convert cash worth $150 back into $300.
- It will be possible for you to reduce any kind of personal exposure on the web with the help of Discover since it will help you to abolish it from selected people-search websites that might sell your information. The most notable thing is that it will be available free of cost and it can be activated with the mobile app.
- Receive an APR Intro of 0% on purchases for 15 months. Following this, a Standard Variable Purchase APR of 17.24% to 28.24% will be applicable depending on creditworthiness.
- It will be possible for you to redeem $1 for every $1 generated in cash back.
- Absence of any annual charges.
- See the terms and conditions after going to the website of Discover Card.
How is it feasible to generate cashback?
The Discover it Cash Back will be able to generate cashback of 5% with various merchants you enroll in every quarter such as grocery outlets, gas stations, Amazon.com, restaurants, and so on. For instance, you will be able to generate cashback of 5% at Walmart.com, Target.com, and Amazon.com from now through the conclusion of December.
It will be essential to activate the earning of 5% prior to making purchases every quarter in the bonus category; however, this procedure has been made very simple online by Discover and it will be feasible for you to activate up to a couple of months prior to the beginning of every quarter. Nevertheless, only 5% cashback can be earned by you every quarter in purchases at eligible vendors following enrolment. You will be capable of generating cash back of $75 on the purchases with the assumption that $1,500 is spent by you on purchases during a quarter in the 5% categories.
Discover it Cashback will likewise enable you to generate a cashback of 1% on every other purchase. Nevertheless, you can make use of another card with superior flat-rate earnings in chosen categories for enhancing your cashback percentage on any other purchases. One example can be cited of Discover it Miles which is going to align with the cashback that was earned by you during the initial year.
Discover it® Cash Back advantages
Will match your cash back in the initial year:
An exclusive sign-up bonus intended for new card members is provided by the Discover it® Cash Back and it is known as Unlimited Cashback Match. Every single cashback that has been generated by you at the conclusion of the first year will be matched by Discover automatically. There is no provision for any maximum rewards or minimum spending. It will be feasible for you to convert cash back worth $150 into as much as $300.
There will be no maximum rewards or minimum spending which will help to make this card a fantastic option for any new cardholder since it will be feasible for you to double any cashback that has been generated by you in the initial year.
Generates cash back at a high rate:
One significant advantage provided by Discover it® Cash Back happens to be the awesome rate that it places on every single quarterly rotating category. It will be possible for you to obtain cashback of 5% on your day-to-day purchases every quarter at various locations like gas stations, grocery outlets, and Amazon.com up to the quarterly maximum once it is activated by you. Apart from this, you can also generate cashback of 1% automatically on every other purchase.
At present, the quarterly maximum happens to be $1,500 each quarter in spending, and therefore, it will be possible to maximize the category of 5% every quarter to generate a bonus cash back of $300.
It is easy to redeem cashback:
The rewards generated by you with the Discover it® Cash Back happen to be rather simple compared to other cards providing complex redemption options at present. It will be feasible for you to deposit the cash back into your bank account directly or it can also be applied as a statement credit. It can likewise be redeemed by you through Amazon.com or PayPal.
Discover it® Cash Back drawbacks
It will be essential to activate the categories every quarter:
One particular drawback that we would like to mention in this Discover Card- Review is the fact that it will be essential to activate the cashback of 5% every single quarter. You can generate only cashback of 1% on all purchases in case the new cashback category is not activated every quarter.
Moreover, the activation is not going to work retroactively compared to the Chase Freedom Flex℠ which happens to be its main rival. You will generate just 1% in case a bonus purchase is made by you before activating in spite of activating the 5% bonus for the quarter afterward.
Categories will not always be profitable:
It might not be possible for the quarterly bonus to always match your spending. For instance, fitness center memberships, fitness clubs, streaming services, and PayPal purchases have been an integral part of the earlier quarterly bonus categories. You might find it tough to spend $1,500 in these categories in a quarter which will. Of course, depending on the manner in which you are spending. This can be compared to the Citi Custom Cash℠ Card which will provide you with a 5% reward back in your maximum category of expenditure every month.
The value of your rewards cannot be increased:
Discover will not provide any options for point transfer or card pairing compared to its rivals, Citi and Chase. It might be feasible to optimize the value of your points after transferring your Citi or Chase points or combining your points. For instance, the Chase Freedom Flex℠ will allow you to get your points transferred to the Chase Sapphire Reserve® or Chase Sapphire Preferred® Card and your points can be redeemed via Chase travel portal for obtaining a bonus of 25% to 50%. On the other hand, you will be stuck at a redemption value of 1% with Discover.
Conclusion:
It will be a sensible idea to make comprehensive research in advance to ensure whether a cash-back card of 5% will be ideal for you while making an effort to optimize the usage of your quarterly credit card since it can prove to be a challenging task in the long run. However, it will be possible to save cash by utilizing a cash-back card regularly. The Discover it Cash Back could be awesome for your spending habits in case you are not worried about rotating your awards and also activating them.
Frequently Asked Questions:
Is there any restriction on the cashback that can be generated with the help of the Discover it® Cash Back card?
The card will provide you with a cashback of 5% on purchases every quarter at various locations up to $1500 spent every quarter once it is activated as well as cashback of 1% on every other purchase. There is a restriction of $1500 in combined expenditure across every single bonus category every quarter for the higher rewards rate of the card. Nevertheless, there is no limitation on how much can be generated by you for the base rewards rate of the card.
Will my cashback be matched by Discover every year?
It will be a good idea to plan your expenditure to take advantage of the bonus feature since the Discover Cashback Match will only be valid for the initial year with the card.
Does the Discover it® Cash Back come with any foreign transaction charges or an annual fee?
No foreign transaction charges or annual fees will be charged by the Discover it® Cash Back. As a matter of fact, no Discover credit card has any foreign transaction charges, annual fees, late fees, or penalty APR on your initial late payment.
You should provide links to get this card
Thanks for the suggestion. It’s already added in the Highlight section. Now, we will place it explicitly.