Discover it® Cash Back Credit Card full review
This card is suitable for individuals with a good to great credit score who are seeking cash back rewards.
Discover it® Cash Back Credit Card: Everything You Need to Know
Discover is a credit card brand that was introduced by Sears in 1985 and is primarily issued in the United States. With 57 million cardholders, Discover is the third largest credit card brand in the U.S., following Visa and Mastercard. Along with banking and credit products, Discover offers innovative commerce solutions through its payment networks.
Discover it® Cash Back Credit Card: How It Works
If you’re looking for cash back rewards, the Discover it® Cash Back Credit Card is worth considering. With this card, you can earn 5% cash back rewards at select places throughout the year, including Amazon.com, grocery stores, restaurants, gas stations, and when using PayPal for payment. Additionally, you’ll earn 1% cash back on all other purchases automatically.
The 5% cash back rewards are divided into categories for each quarter:
- Jan-Mar 2022: 5% at Grocery Stores and Fitness Club & Gym Memberships on up to $1,500 in purchases (excluding Walmart and Target).
- Apr-Jun 2022: 5% at Gas Stations and Target on up to $1,500 in purchases.
- Jul-Sept 2022: 5% at Restaurants and PayPal on up to $1,500 in purchases.
- Oct-Dec 2022: 5% at Amazon.com and Digital Wallets on up to $1,500 in purchases.
Your cash back rewards never expire, and you can redeem them at any time and for any amount, even as low as $.01. Additionally, the Discover it® Cash Back Credit Card offers a 0% introductory APR for 15 months on purchases and eligible balance transfers, with a standard variable rate of 14.99% – 25.99% after that. There is a balance transfer fee of up to 5% of the amount transferred.
Ways to Redeem Cash Back
Discover provides multiple options for redeeming your cash back rewards:
- Deposit cash back directly into your bank account.
- Apply it as a statement credit on your Discover card balance.
- Pay with Cashback Bonus: Use your rewards at checkout on Amazon.com and PayPal.
Unlimited Cashback Match
The Discover it® Cash Back Credit Card offers an unlimited dollar-for-dollar match of all the cash back you’ve earned at the end of your first year. This match is automatically applied, providing you with even more cash back rewards.
Benefits of the Discover it® Cash Back Credit Card
Online Privacy Protection
Discover helps protect your online privacy by regularly removing your personal information from ten popular people-search websites that could sell your data. You can activate this service for free using the Discover app.
Free Social Security Number Alerts
The Discover it® Cash Back Credit Card provides free alerts if your Social Security Number is found on any of thousands of Dark Web sites.
Turn Your Account On/Off with Freeze It
If you misplace your card, you can freeze your account using the Discover mobile app or website to prevent new purchases, cash advances, and balance transfers.
$0 Fraud Liability Guarantee
Discover offers a $0 fraud liability guarantee, meaning you are not responsible for unauthorized purchases made with your Discover Card.
Other Benefits
- 100% U.S.-based customer service available 24/7 for the Discover it® Cash Back Credit Card.
- You can request free overnight shipping to replace a lost card.
- Receive a free FICO® Credit Score.
Drawbacks of the Discover it® Cash Back Credit Card
One drawback of the Discover it® Cash Back Credit Card is the quarterly limitation on cash back rewards. The 5% bonus cash back rate is limited to $1,500 in spending per quarter.
How to Apply for the Discover it® Cash Back Credit Card
If you’re interested in the Discover it® Cash Back Credit Card, applying is simple. Discover has a 99% acceptance rate at merchants that accept credit cards, so it’s likely that Discover is accepted at your preferred retailers. To apply, click the green button below and take the next step.
