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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 in quarterly rotating categories, up to $1,500 spent per quarter (then 1%; activation required). And Discover will double that for your first year! There’s also a solid 0% introductory APR for purchases and balance transfers.
The 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 (activation required), 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® Cash Back 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.
Discover now offers a free FICO score credit monitoring service to anyone, even if you’re not a cardholder.