Discover it® Cash Back: review

The Discover it® Cash Back features a high cash-back rate in rotating quarterly categories.

Even so, for people who prefer cash back and don’t mind putting in a little work, this $0-annual-fee card is well worth it.

Pros & Cons

Pros

• 5% cash back on quarterly rotating spending categories throughout the year
• Discover will automatically match all the cash back you’ve earned at the end of your first year
• No minimum cashback redemption

Cons

• 5% bonus cashback rate is limited to $1,500 per quarter in spending
• Bonus categories must be activated quarterly
• Low 1% base reward rate on everything else

Rates, fees & offers

• Annual fee: $0
• Rewards rates
  1% back on all other purchases
  5% back in rotating quarterly categories on up to $1,500 in purchases each quarter (requires activation)
• Bonus offer: INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300
• Intro APR: 0% on Purchases and Balance Transfers for 20 billing cycles
• Ongoing APR
  APR: 11.99% – 22.99% Variable APR
  Cash Advance APR: 24.99%, Variable
• Balance transfer fee: 3% introductory fee and up to 5% on future balance transfers
• Foreign transaction fee: None

Review

Introductory 0% APR period

The Discover it® Cash Back comes with a generous introductory offer: 0% intro APR for 14 months on purchases and balance transfers, and then the ongoing APR of 11.99%-22.99% Variable APR. 

If you want to make a large purchase and pay it off over time, this is an especially valuable perk.

5% cash back in rotating categories

Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com,6   grocery stores, restaurants, gas stations and when you pay using PayPal,8   up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.

Furthermore, Discover will automatically match all the cash back you’ve earned at the end of your first year. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.

A potentially valuable sign-up offer

The Discover it® Cash Back comes with an uncommon sign-up bonus for new cardmembers in their first year: INTRO OFFER: Unlimited Cashback Match.

Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.

For example, if you earned $500 in rewards, Discover will give you another $500 in cash back at the end of your first consecutive 12 months of being a cardholder. For those who plan to do a lot of spending on the card during that time, this unusual offer could prove incredibly valuable.

How to request this card

Applying for a credit card is very simple and you can do it through the app or website. But you need:

• Social Security Number
• Gross income
• Employer name (if applicable)
• Rent/mortgage amount

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