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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 on quarterly rotating categories, which Discover will double for your first year, and 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, 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.