Not only does the Discover It Cash Back Credit Card charge a $0 annual fee, but when the bonus category is activated. It gives you back 5% on up to $1,500 on purchases in the revolving category (then 1%). And 1% refund on all others purchases every quarter.
Discover It Cash Back Credit Card
5% cashback on categories 1% cashback on all purchasesDiscover It Cash Back Credit Card benefits
- Once activated, earn 5 percent refund on purchases of up to $1,500 per quarter on rotating categories, then 1 percent
- The cashback matching program basically doubles all the money earned in the first year.
- No annual fee, overseas transaction fee, APR penalty or late payment upfront fee (up to $40)
- Discover advertises its 5% full refund plan from last year instead of a quarter up front.
- 14 months of 0 percent balance transfer and release APR. Then an incredibly low variable APR of 11.99 percent to 22.99 percent
- Discover’s renowned JD Power credit card satisfaction survey track record makes it one of the top issuers for customer service
- Discover’s renowned JD Power credit card satisfaction survey track record makes it one of the top issuers for customer service
In addition to great cash back benefits, the Discover it Cash Back card has a lightweight compartment with other functions. If you’re relying on traditional perks like shopping and travel protection. You might want to consider other options as Discover It Cash Back Credit Card has reduced your card’s resources to focus on its unique, low-cost rewards offerings.
Cashback Match Can Bring A Profitable First Year
The Discover it Cashback credit card doesn’t come with a traditional sign-up bonus. But the Cashback Match feature can end up leaving you better. Than the bonuses offered by many other cashback non-pension cards.
This means that when you hit the quarterly spend limit on the card’s 5% revolving bonus categories. You’ll end up being worth more than you deserve.
This is how the Cashback Match program works: At the end of your first year of membership with the card. Discover will record the rewards you’ve earned. To be clear, this doesn’t mean that all the rewards you have in your account will be doubled.
Instead, any cashback rewards you’ve earned after the first 12 consecutive billing periods will be doubled. Even if you already have them. Rescued.
In fact, this means that within the first year of membership with the card. You receive at least 2% cashback on all purchases – 1% cashback on purchases plus 1% Discover Cashback Match.
And when you use the bonus categories in your 5% first year. You’ll end up earning a total of 10% in those categories before you hit the spending limit.
Once you reach the limit, you will, by default, receive the base rate of 1% refund on all purchases. Plus an additional 1% refund that will apply at the end of your first 12 billing cycles.
What is Discover 5% Cashback and how does it work?
Explore 5% bonus categories that allow you to earn 5% cashback on up to $1,500 on combined purchases across all activated categories announced quarterly (approximately every three months).
Once you reach the $1,500 spending limit, receive only 1% back on those purchases with the Discover It Cash Back Credit Card.
These bonus categories typically cover a wide range of popular seasonal or retail editions.
For example, if the January-March bonus categories are selected grocery stores and pharmacies like Walgreens and CVS (in time for the flu and cold seasons). You can earn 5 percent cashback on purchases from these merchants (activation required) now up to the $1,500 quarterly spending limit, then 1 percent.
Discover is promoting its 5% cashback calendar categories at the end of the previous year. But you must remember to activate the bonus categories every quarter or you will not receive 5% cashback otherwise. Activation dates are usually two months in advance, eg B. May 1st for July-September categories.
Select a bonus category on Discover It Cash Back Credit Card
With Discover it Cash Back Credit Card you have no influence on the categories in which you earn 5% cashback. With the Bank of America personalized cash rewards credit card, it’s a different story. Receive 3% refund on a category of your choice (out of six options); 2% refund in supermarkets and wholesale clubs (up to $2,500 per quarter in expenses combined in the 3% and 2% categories, then 1%). And 1% refund on everything else. The 3% category lets you choose between gas, online shopping, dining, travel, drug stores or renovation / furniture, and you can change category every month.
If you want to see what these cards look like. Compare with other reward cards, check out our list of the best credit card deals.
Should you apply?
If you’re willing to put in the extra effort to get great cash rewards, this might be the perfect choice for you.
0% introductory APR period
Discover it Cash Back gives you plenty of leeway to withdraw funds after opening your account. It comes with a generous introductory offer: 0% introductory APR for 14 months on purchases and credit transfers, then continuous 11.99% APR -22.99% variable APR.
The balance transfer fee starts at 3% of the transferred amount, but can reach 5% for future transfers (see conditions). This is similar to other prepaid transfer cards.
If you’re making a big purchase and you plan to pay back over time, this is an especially valuable benefit.
Keep in mind that if you’re using the card as a balance transfer option, you probably won’t make new purchases with it, and instead just want to use the card to pay off debt. This could mean you are missing out on a great sign-up bonus offer.
How to apply for SBI Credit Card 
How to apply for Indusind Bank Credit Card