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Discover it® Cash Back

Discover it® Cash Back

 

Rated 4.5/5 stars by our editorial team

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Your Rating:

3.7/5.0 from 898 Offer Ratings
Over the Past 60 Days!

(898 ) Over the Past 60 Days!

  • Cashback Match™ Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically*
  • EARN Earn 5% cash back at different places each quarter up to the quarterly maximum, when you activate*
  • Redeem Any amount, any time. Cash back rewards never expire*
  • Regular Purchase APR 13.49% - 24.49% Variable
  • Intro Purchase APR 0% for 14 months
  • Intro BT APR 0% for 14 months
  • Annual Fee $0
  • Credit Needed

    Excellent/Good Credit

  • Card Brand Discover

Highlights

Card Fees

Expert Review of the Discover it® Cash Back

  • 4.5

    Regular APR

  • 4.5

    Intro APR

  • 4.5

    Fees

  • 4.0

    Benefits

  • star rating 4.5 /5

    Overall Rating

Who the card is best for

The Discover it® Cash Back is a good option for people who want a balance transfer card that offers rewards. The intro period of 0% for 14 months gives you time to pay off your debt without accruing interest. Purchases will also receive an intro period of 0% for 14 months, which is great if you want time to pay off a large purchase without being charged interest. In addition to the attractive balance transfer and purchase intro periods, you can take advantage of rewards: 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. 1% unlimited cash back automatically on all other purchases.

This card isn’t for people who want the lengthiest intro periods available. If you have a large balance or plan on making a large purchase, you can find balance transfer cards with much longer intro periods, like 18 or 21 months. This card also isn’t designed for people who want to earn a high, flat cash back rate or wants to avoid having to keep up with rotating reward categories. Check out other cash back cards and rewards cards that may be a better choice for your spending if you don’t want to deal with rotating categories.

Where this card stands out in its category

Because this card is more of a rewards card than a balance transfer card, it has perks not typical of most balance transfer cards. Cash back is a great way to earn money back on new purchases — 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. 1% unlimited cash back automatically on all other purchases.. Compared with other basic balance transfer cards, the Discover it® Cash Back provides long-term benefits that prove useful beyond the 0% intro period. Below, we discuss the additional card benefits.

Where this card falls short in its category

This card charges a 3% balance transfer fee, and although this is typical of balance transfer cards, you can find cards with more favorable transfer fees like the Chase Slate®. A transfer fee can cost you a sizable amount of money depending on the size of your balance. For example, transferring a $5,000 balance to a card with a 3% fee will cost $150 — money you can save by using a card without a transfer fee.

Additional card benefits

Here are some card benefits you’ll receive with the Discover it® Cash Back on top of the rewards program and balance transfer offer:

  • Cashback Match™: Discover will automatically match all the cash back you earn at the end of your first year.*.
  • Simple cash-back redemption: Cash back can be redeemed at any increment, at any time and even if you close your account.
  • Freeze it: Put your account on hold with the touch of a button online or in the app. Discover will not authorize new purchases, cash advances or balance transfers while your card is frozen.
  • Free FICO® credit score: Discover provides your free credit score with Discover Credit Scorecard. This allows you to keep an eye on your credit, while receiving an updated score every 30 days.
  • 100 percent U.S.-based customer service: Speak to a representative 24/7 to answer your questions.
  • No penalty APR: This card won’t raise your APR if you make a late payment.
  • $0 fraud liability: You're never responsible for unauthorized purchases on your credit card.

How to use it most effectively

To get the most from this card, transfer your balance immediately so you can use as much of the intro period as possible. You can refer to your card agreement for the specific date at which the balance transfer offer expires. If you plan on financing a large purchase, try and do so as soon as you can, so you have the majority of the intro period to pay off your balance. Once the intro period is over, you’ll be charged an APR of 13.49% - 24.49% Variable. To make the most of the offer, plan to pay your balance in full prior to the end of the intro period.

How to do a balance transfer with Discover

A balance transfer with the Discover it® Cash Back cannot exceed your available credit limit. That includes the amount you transfer, plus the balance transfer fee. For example, if you have a $8,000 credit limit, you can’t transfer a balance that is $10,000. You also won’t be able to transfer a balance of $8,000, because the balance transfer fee will put you over the limit.

To complete your balance transfer online, from your account dashboard select the “Credit Options” tab, and select “See Offer” under “Balance Transfers”’ to view your intro offer. Once you select your offer, fill in your transfer information and verify and submit your information. Transfers typically take 14 days to process, so continue to make payments to your other creditors to avoid late fees until the transfer is complete.

Rewards breakdown

The Discover it® Cash Back offers a high 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. 1% unlimited cash back automatically on all other purchases.. This is a great rate for people who want to maximize their spending in bonus categories. Remember to activate the bonus categories each quarter so you don’t miss out on the higher rate. There’s also a great bonus at the end of your first year as a cardholder with Discover’s Cashback Match™: Discover will automatically match all the cash back you earn at the end of your first year.*. Although cash back is nice, don’t risk falling into debt by spending more than you can afford.

Compare with the Chase Slate® card

The Discover it® Cash Back and Chase Slate® offer similar balance transfer intro periods but differ in two key ways. While the Chase Slate® does not offer rewards, the Discover it® Cash Back offers 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. 1% unlimited cash back automatically on all other purchases.. If you want to continue to use your card once you pay off the balance transfer, this card will provide more long-term benefits compared with Chase Slate®. On the other hand, if your primary purpose is to pay off your debt and you don’t want to be distracted by rewards, the Chase Slate® is a better option. With Chase Slate® you will have a slightly longer intro period, as well as a great intro balance transfer fee — Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.. This can save you a good amount, especially if you transfer a large balance. See below for a breakdown of the key elements of both cards. *This offer and/or promotion has since changed, expired, or is no longer available.

  Discover it® Cash Back Chase Slate®
Annual Fee $0 $0
Balance Transfer Terms 0% for 14 months 0% Intro APR on Balance Transfers for 15 months
Balance Transfer Fee 3% Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.
Ongoing APR 13.49% - 24.49% Variable 16.49% - 25.24% Variable
Transfer Period Refer to your card agreement, and transfer as soon as possible 60 days from account opening
Rewards 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. 1% unlimited cash back automatically on all other purchases. Non-rewards card

Bottom line

The Discover it® Cash Back is a good option for people who want to earn rewards on new purchases and benefit from a decent balance transfer offer. Although the balance transfer intro period is slightly shorter than those provided by the best offerings, you can maximize your cash back with this card if you don’t mind dealing with rotating bonus categories.

Ongoing Information

Additional Card Details

Consumer Reviews

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Offer Rating

3.7/5.0

898 Total Ratings

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(248)
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1 Star
 
 
(25)

Your Rating

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4 Found this review helpful

By: | Mar 11, 2018

A great card with great cash back. 0% Apr for 14 months, and a cash back match as to how much cash you have earned throughout the course of your first year. Plus, 0% Apr on balance transfers for the first 14 months. Only a 3% transaction fee. The Discover IT card, really is IT. It has Discover Deals and many other features to help you get discounts and more cash back. The only thing that would make the card better is if you got 1.5% cash back instead of 1% on purchases on goods outside of the 5% quarterly categories.

2 Found this review helpful

By: | Feb 3, 2018

I love my discover it

34 Found this review helpful

By: | Jan 30, 2018

They make it easy to consolidate my other cards with a great introductory offer and great cash back

30 Found this review helpful

By: | Jan 22, 2018

Discover has the best mobile app for any of my cards. The customer service is always on point also. I am eliminating my other cards and will only use Discover. Go with Discover!!

48 Found this review helpful

By: | Jan 15, 2018

I had an 18k, now 21.5k credit line. Discover is very generous with their credit lines.

29 Found this review helpful

By: | Jan 4, 2018

I have had Discover Card from 1986 and it is the very best card a man that travels can have put as much as 25m on it for a Co Cruz and never had a problem. Thanks Discover

81 Found this review helpful

By: | Oct 19, 2017

Love my discover credit card. The cash back reward is exactly what they say and even better. Not only do you get the money at the end of the year, but you can also transfer the funds over to your checking account for cash. Customer service is excellent - never had any issues with them - even when I used the card overseas when I travel to Africa.

1 Reply

By: Michael Hill | Apr 9, 2018

Thank u discover about the cash back was able to consolidate a couple of cards on my discover card looking forward to the future.

70 Found this review helpful

By: | Oct 15, 2017

Was delighted to be approved after only 1 year of credit building. Customer service is great. Definitely recommend!

55 Found this review helpful

By: | Sep 26, 2017

Love this card...My emergency go to!

103 Found this review helpful

By: | Aug 5, 2017

Customer Service IS GREAT!! Discover has been very good to me. They have really helped me reestablish my credit. Plus the 5% reward categories are nice! You just have to remember to activate them online. Very easy to do. 1% back on regular every day purchases, would be even better if they had 1.5-2% back on purchases? No annual fees. Many card designs to choose from and generous credit allowances. Overall, I have enjoyed using it. I LOVE this card!!!

134 Found this review helpful

By: | Apr 8, 2017

Excellent card

216 Found this review helpful

By: | Feb 17, 2017

A great way to rebuild my credit. In thr first 3 months of using and paying off my balances my credit scores has risen steadily and my line of credit has increased considerably.

221 Found this review helpful

By: | Dec 17, 2016

A top 3 cash back card, and the best cash back card for online shopping. 5% cash back in practical shopping categories throughout the year (Changes categories every 3 months). Great online shopping cash back deals in their additional shopping portal. Also they have a very low redemption minimum ($0.01). Only weakness is that Discover It is not accepted everywhere; especially outside of the USA or small mom & pop stores.

233 Found this review helpful

By: | Oct 31, 2016

This card is for real! At the end of my first year just like it says. Got a match amount of rewards cash in excess of $600. I was blown away by it. Try it you like it. You have to go in to look at your account as with any charge card and thats when i check off the rotating rewards that I want. Its very simple and takes no time at all.

233 Found this review helpful

By: | Oct 24, 2016

Easy access to a customer service person who ALWAYS speaks clear ENGLISH!! Very kind and helpfull. We have had this card since 1992 and have had absolutely PERFECT service at all times. I would give them a "10" star rating IF I could.

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