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With a lower APR than your average cashback credit card, a 0% APR period, and decent rewards potential, there are plenty of reasons to consider the Discover it® Cash Back credit card if you’re in the market for an everyday rewards card.
Quick Review
The Discover it® Cash Back credit card offers a simple but reasonable cashback rewards program for its cardholders. You can get cash back with literally every purchase, and there’s also a big opportunity for extra savings at the end of your first year with the card. Here’s how it works:
- 5% back on rotating categories for $1,500 per quarter (then goes down to 1%)
- 1% back on everything else
- Dollar-for-dollar match for all cashback savings for first year
- 0% APR for first 15 months
The partially limited and rotating rewards makes this card better for people with more modest spending habits, as you’ll only be earning 1% back every quarter when you go beyond $1,500 in spending in a given bonus category. While you have to wait until the end of your first year to take advantage of the dollar-for-dollar cashback match, it’s a helpful perk, especially if you capitalize on your first-year spending.
Compared to other cashback credit cards on the market, the Discover it® Cash Back credit card has a slightly lower APR of 14.99%–25.99% (variable). It also has no annual fee and an introductory 0% APR for the first 15 months. While the credit limit on the card varies significantly, it can potentially go up to as much as $9,000, depending on your credit score and history.
These features make this card attractive for people looking for a card to make large purchases within the first year, but not a card to handle tens of thousands of dollars in spending. Its inexpensive nature and potential for cash back place this card in our ranks of best cards for freelancers and best 0% APR credit cards.
Discover it® Cash Back Important Details
Basic Card Details
- Annual fee: $0
- Purchase APR: 14.99%–25.99% (variable)
- Rewards rate: 1%–5%
- Welcome bonus: Cashback match for first year
Additional Information
- Rewards can be redeemed at any amount and never expire
- Rewards can instantly be used for Amazon and Paypal purchases
- Free FICO® credit scores
- Free Social Security number checks and online privacy protection
Discover it® Cash Back Feature Breakdown
Take a look at the important borrowing terms and benefits for the Discover it® Cash Back credit card.
Fees
- Annual fee: $0
- Cash advance fee: $10 or 5% (whichever is greater)
- Balance transfer fee: 3%–5%
- Late payment fee: Up to $41
- Foreign transaction fee: None
Interest Rates
- Purchase APR: 14.99%–25.99% (variable)
- Balance transfer APR: 0% for 15 months; then 14.99%–25.99% (variable)
- Cash advance APR: 27.99% (variable)
- Penalty APR: None
Note that the Discover it® Cash Back credit card’s interest rates are slightly lower than some cashback credit cards on the market, meaning this could be a good card choice for anyone likely to carry a balance.
Credit Score Required
You will need a good-to-excellent credit score to qualify for the Discover it® Cash Back credit card. That means your credit score must be at least 670, but it should really be higher if you want reasonable interest rates.
Rewards
There are opportunities to save with every purchase using the Discover it® Cash Back credit card.
Here’s how the cashback rewards program for this credit card works:
- 5% cash back on purchases from a selected category every quarter (up to $1,500)
- 1% cash back on everything else
- Dollar-for-dollar match for all cashback savings for first year
- Cashback rewards can be redeemed directly for Amazon and Paypal
Some examples of selected categories include:
- Groceries
- Gas
- Restaurants
- Amazon
- Paypal
The rotating categories for the 5% cashback rewards only have a quarterly $1,500 limit and you have to enroll for the new cashback category every quarter, meaning this isn’t a card for everyone. You have to be willing to monitor your categories and spend strategically to make the most of these rewards.
Welcome Bonus
There is no point-specific welcome bonus for this credit card. Instead, the Discover it® Cash Back credit card offers a dollar-for-dollar cashback match on all purchases made within your first year.
For example, if you spend $5,000 in the first year on the card and receive 1% cashback on all purchases, your $50 cash back will be doubled to $100 in total.
Cash Advance
The Discover it® Cash Back credit card allows cash advances, which means you can withdraw cash via an ATM or money order using this credit card. However, the cash advance APR is 27.99%, which is incredibly high. These types of interest rates can stack up quickly, so we recommend only taking out a cash advance if it’s absolutely necessary.
Balance Transfers
Balance transfers are permitted using the Discover it® Cash Back credit card and Discover offers an introductory 0% APR for your first 15 months of borrowing. However, the APR for balance transfers after the introductory period is between 14.99%–25.99% (variable), so make sure you consolidate and pay off your debt during the intro period.
Credit Reporting
When it comes to knowing your credit score, Discover prints your updated FICO® score on your monthly statement, so you’ll always have an idea of your creditworthiness. Discover also reports to all three major credit bureaus every month, helping you maintain an up-to-date score.
Authorized Users
Authorized users are allowed on the Discover it® Cash Back credit card, but they aren’t responsible for paying off any of the account charges.
If you decide to add an authorized user to this card, you must come to a clear understanding regarding how you’ll both use and pay off the card. At the end of the day, only you will be legally responsible for all charges and fees incurred.
Customer Service
If you want to speak directly to Discover regarding this card, you can do so using these contact numbers:
Customer service
(800) 347-2683
Customer service (outside U.S)
(224) 888-7777
Should You Get the Discover it® Cash Back?
FinanceJar verdict
Yes, the Discover it® Cash Back credit card is a recommendable option for low-to-moderate spenders looking for cashback rewards at no annual fee.
However, the rewards caps and rotating nature of the bonus categories mean this card is only suitable for someone willing to stay vigilant about their credit card usage.
Who is this card for?
- People with flexible shopping habits: Because the rewards rotate every quarter, this card is perfect for people who don’t mind changing up their shopping habits to get the best deal on groceries, clothing, and anything else they might need in each 3 month period.
- Debt consolidators: If you’re looking to consolidate a credit card debt onto a no-interest credit card, this one is a great choice. After the promotional period ends, you can still enjoy cashback rewards and relatively low APR.
Comparable Cards
Here’s a breakdown of how the Discover it® Cash Back credit card compares to other credit cards on the market.
