Discover it® Cash Back Credit Card
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Discover it® Cash Back Credit Card
Highlights & Features
Rewards
- 5% cash back in rotating categories, up to $1,500 in spending per quarter (then 1%):
- Categories: January through March is Grocery Stores; April through June is Gas Stations, Uber, Lyft; July through September is Restaurants, PayPal; October through December is Amazon.com, Target, 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 | 13.74%–24.74% Variable |
| Balance Transfer Fee | 3% intro balance transfer fee (5% on later balance transfers) |
Fees
| Penalty APR | None |
| Late Fee | $0 the first time; up to $39 after that |
| Returned Payment Fee | Up to $39 |
| Additional Cards Annual Fee | None |
| 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 | 26.74% Variable |
| Cash Advance Fee | 5%, $10 minimum |
Card Benefits
PERKS
- Free Credit Score
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 websiteDiscover it® Cash Back Credit Card
Highlights
- Double all the cash back you’ve earned at the end of your first year automatically.
- 5% cash back in categories that change each quarter like gas, restaurants, PayPal, Amazon.com and more – up to $1,500 in spending per quarter, then 1%.
- 0% intro APR on purchases & balance transfers for 14 months — then a variable purchase APR applies, currently 14.24%–25.24%.
- Free FICO® Credit Score on statements, online and by mobile app.
- 100% U.S.-based service.
- No annual fee. No over limit fee. No foreign transaction fee. No late fee on first late payment & paying late won’t raise your APR.
- Each Discover purchase is monitored for fraudulent activity, and you’re never responsible for unauthorized purchases on your Discover card.
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, 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 2019 is:
| Quarter | 5% Cash Back Category |
|---|---|
| January – March | Grocery Stores |
| April – June | Gas Stations, Uber, Lyft |
| July – September | Restaurants, PayPal |
| October – December | Amazon.com, Target, 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 13.74%–24.74% Variable.
