Hello Friends, I hope all is well with you! I am going to be reviewing the Discover It Cash Back rewards credit card. These opinions are my own, and I am in no way influenced by anyone.
Overall Verdict: This Discover rewards credit card offers a big bonus potential depending on how much you spend by the end of the first year and offers a potential high cash back opportunity if you spend in one of their rotating categories. This card does lack the bells and whistles that other credit cards have. If you won’t be able to spend in the rotating categories, there are other cards that would be better for you.
Some things about this card I like:
Some things about the card that I don’t like:
The Discover It Cash Back rewards credit card offers you the opportunity to earn cash back on every dollar that you spend. The cash back you earn accumulates until you decide when to use it. There are a few ways to redeem your cash back; you can either pay your bill with the cash back amount, get a gift card, or decide to have the cash back deposited in your bank account. I like the option of depositing cash back into a bank account.
This rewards credit card does not have an annual fee.
This rewards credit card offers a different structure to earn cash back than most cards. They have what’s called “rotating categories.” This means that Discover has select categories or select stores to earn 5% cash back, and these categories and stores change every quarter. So, one quarter you might earn 5% at Walmart but then another quarter, you won’t earn that 5% at Walmart anymore but instead earn 5% cash back at Amazon. Any purchase outside of the category or any purchase that isn’t a store that Discover selected, you will earn 1% cash back. Just to recap, 5% cash back on the category and store Discover selects for that quarter and 1% for everything else. However, they do have a quarterly maximum limit on the amount you can earn on the categories or select stores, the quarterly maximum limit is $1,500 on purchases. For example, if the category this quarter is gas stations, you can earn 5% cash back on up to $1,500 in purchases that quarter, and any purchase that exceeds the $1,500 limit will only earn 1% cash back.
The Discover It Cash Back rewards credit card offers a unique sign-up bonus, kind of. It’s technically not a sign-up bonus but more like a bonus for making it a year with the card. They match every single cent that you earn in cash back at the end of your first year and your first year only. If you earn $100 in cash back, Discover will match it and reward you $100. If you earned $1,000 in cash back by the end of the year, you will have $2,000 total because they will have matched the $1,000 you earned. This is what makes the card so enticing for so many people.
The good news is that Discover does not charge a foreign transaction fee.
They do offer some extra benefits but not as many as other no annual fee rewards credit cards. The benefits they offer are:
They offer you a 0% intro APR for 14 months from date of account opening. After the 14 months is up, your APR will be between 11.99% and 22.99%, but it depends on your credit score.
Their other fees include:
For more information, check out their fee schedule.
There are a couple of ways to contact Discover. The first would be to call the number on the back of the card. The second one would be to login to your account and initiate a live chat with them. I find that live chats are a shorter wait than phone representatives, but some problems may need to be resolved on the phone. It’s important to mention that all their customer service representatives are based in the United States. Another important note to mention is that you may experience longer than usual wait times from time to time, and you may have different experiences with their agents from time to time.
Should you get the Discover It Cash Back Card?
Who it’s perfect for:
Who it isn’t perfect for:
If you are still unsure if a rewards credit card makes sense, check out my post on Why You Should Use Rewards Credit Cards.
Additionally, if this card isn’t right for you, I invite you to check out my credit cards page for more information on other cards.