Discover it® Cash Back
Advertiser Disclosure
Credit Card Insider is an independent, advertising supported website. Credit Card Insider receives compensation from some credit card issuers as advertisers. Advertiser relationships do not affect card ratings or our Editor’s Best Card Picks. Credit Card Insider has not reviewed all available credit card offers in the marketplace. Content is not provided or commissioned by any credit card issuers. Reasonable efforts are made to maintain accurate information, though all credit card information is presented without warranty. When you click on any ‘Apply Now’ button, the most up-to-date terms and conditions, rates, and fee information will be presented by the issuer. Credit Card Insider has partnered with CardRatings for our coverage of credit card products. Credit Card Insider and CardRatings may receive a commission from card issuers. A list of these issuers can be found on our Editorial Guidelines.
As far as no annual fee cash back cards go, the Discover it Cash Back ranks among the best. You’ll get 5% cash back on quarterly rotating categories, which Discover will double for your first year, and a solid 0% introductory APR for purchases and balance transfers.
Highlights & Features
Rewards
- 5% cash back in rotating categories, up to $1,500 in spending per quarter:
- January – March: Grocery Stores, Walgreens, CVS
- April – June: Gas Stations, Uber, Lyft, Wholesale Clubs
- July – September: Restaurants, PayPal
- October – December: Amazon.com, Target.com, Walmart.com
- 1% cash back on all other purchases
INTRODUCTORY BONUS
Cashback Match: Get double cash back for the first year, provided at the end of the first yearBalance Transfers
A balance transfer is a way to move credit card debt from one credit card to another with the goal of saving money on interest.
| Intro Balance Transfer APR | 0% for 14 months |
| Regular Balance Transfer APR | 13.49% - 24.49% Variable |
| Balance Transfer Fee | 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)* |
Fees
| Penalty APR | N/A |
| Late Fee | $0 the first time; up to $39 after that |
| Returned Payment Fee | Up to $39 |
| Additional Cards Annual Fee | N/A |
| Foreign Transaction Fee | None |
Cash Advances
Borrowing cash on your credit card is a cash advance. Cash advances usually come with very high fees. Even worse, cash advances can signal to lenders that you’re being irresponsible with money.
| Cash Advance APR | 26.49% Variable |
| Cash Advance Fee | N/A |
Card Benefits
PERKS
- Free Credit Score
SECURITY
- Zero Liability Protection
Discover it® Cash Back
Highlights
- INTRO OFFER: Discover will match ALL the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched.
- Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
- Plus, earn unlimited 1% cash back on all other purchases – automatically.
- Redeem cash back any amount, any time. Rewards never expire.
- Use your rewards at Amazon.com checkout.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
- No annual fee.
ABOUT THE ISSUER
Discover
Discover has several card types depending on your needs.
Manage your Account & Pay your Bill
You can usually pay your bill online on your
Credit card issuer's websiteThe Discover it Cash Back credit card is one of the main credit cards from Discover. Its most appealing features are the scarcity of fees and the abundance of rewards.
It provides 5% cash back in categories that rotate every three months, up to $1,500 in spending per quarter, and then 1% back. New cardmembers get double cash back on all the rewards earned in the first year. That’s a great deal that you won’t find from other card issuers.
The 5% cash back calendar for 2020 is:
| Quarter | 5% Cash Back Category |
|---|---|
| January – March | Grocery Stores, Walgreens, CVS |
| April – June | Gas Stations, Uber, Lyft, Wholesale Clubs |
| July – September | Restaurants, PayPal |
| October – December | Amazon.com, Target.com, Walmart.com |
The Discover it has an introductory 0% APR for 14 months for purchases and balance transfers, quite a long period for paying off expenses at no interest, followed by a regular rate of 13.49% - 24.49% Variable.
