Discover It Cash Back Card Review

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:

1. Matches all cash back earned at the end of the first year
2. No annual fee
3. Redemption is versatile
4. No foreign transaction fees

Some things about the card that I don’t like:

1. Does not have extensive benefits
2. Low rewards amount if you don’t spend in the rotating categories
3. May not be accepted in other parts of the world

What type of reward are you getting?

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.

Is there an annual fee?

This rewards credit card does not have an annual fee.

What is the rewards amount?

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.

Is there a bonus offer?

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.

Are there foreign transaction fees?

The good news is that Discover does not charge a foreign transaction fee.

Are there any other benefits?

They do offer some extra benefits but not as many as other no annual fee rewards credit cards. The benefits they offer are:

1. FICO credit score check – this is free and does not affect your score for checking
2. Card lock – the ability to freeze your account if you’ve misplaced your card
3. Fraud protection – you won’t be held responsible for fraudulent charges

As you see, they don’t offer major benefits that other cards may offer.

What is the interest rate and are there any other fees?

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:

1. Balance transfer fee – 3% until September 2020, then it goes to 5%
2. Cash advance fee – $10 or 5% of the amount of each cash advance, whichever is greater.
3. Late payment fee – no fee for first late payment but up to $40 after that
4. Return payment fee – Up to $40

For more information, check out their fee schedule.

How is the customer service like?

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:

1. People who don’t want an annual fee
2. People who don’t want a foreign transaction fee
3. People who want the opportunity to double their cash back
4. People who don’t spend enough to meet the minimum sign up bonus on different cards

Who it isn’t perfect for:

1. Big spenders
2. The people who don’t spend in the rotating categories each quarter
3. The people who want all the extra benefits

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.