Credit Cards » Credit Card Reviews » Discover It Cash Back Credit Card Review 2021
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Discover It Cash Back Credit Card Review 2021

If you’re looking for a cash back credit card with a high pay rate, the Discover It card offers an attractive 5% on spending categories you’d likely use frequently like food and transportation.

We may receive compensation from companies that appear on this page. This may impact how and where products appear on a page (including, for example, the order in which they appear). It doesn’t affect our unbiased editors’ opinions. our opinions are our own.

In This Review..

This card is offered by Discover, which is a credit card company based in the US. The card is perfect for people with good – it also offers many rewards for using it, plus there is a welcome offer when you first apply for it.

You shall also get a 5% cash back rate on all the purchases you make up to $1,500. Purchases that are beyond the $1,500 receive a 1% cashback, as you already get on all other purchases

It also offers alengthy 0% APR intro period on purchases and balance transfers giving you time to pay off your balance without interest. The additional bonus of matching your cash back earned in your first 14 months can be a lucrative incentive if your comparing maximum rewards value versus other cash back credit cards. This card is not for consumers with are focused on paying down a credit card balance

Discover It Cash Back
Discover It Cash Back review

On Discover Secure Website

Rewards Plan

1-5% cash back

Sign up Bonus

Match Bonus for the first 12 months

0% Intro

0% Intro APR for 14 months on purchases and balance transfers.

PROS

CONS

APR

11.99% – 22.99%

Annual Fee

$0

Balance Transfer Fee

5%

Credit Requirements

Good - Excellent

Card & Issuer Reputation

  • 3.9/5  on WalletHub customer reviews (+1,200 reviews): WalletHub customer reviews allow customers to post positive, negative, or neutral reviews about marketplace experiences.
  • 4.8/5 on Official Card Website customers reviews ( +31,000 reviews): Customers can express their opinion on the official card website. It reflects the overall measurement of reviewer satisfaction, represented numerically from 1 to 5.
  • 837/1000 on J.D Power: Discover got 837 out of 1000 available points, ranks 2nd on J.D. Power credit card satisfaction survey , higher than industry average. J.D Power offers the most comprehensive and independent study of customer satisfaction of card issuers . The study aims to help consumers and issuers to understand user opinions and ratings of the largest bands. It covers terms, benefits, services, communication, rewards and more.

J.D. Power U.S. Credit Card Satisfaction Study 2020

In order to avoid bias based on a small number of reviews, we present only ratings with at least 200 reviews.

Benefits

Let’s take a look at the benefits of the Discover It Cashback card and see if it’s the right one for your wallet or not.

The first benefit of having this credit card is the 0% Intro APR for 14 months on purchases and balance transfers. intro period where you’ll pay 0% interest on new purchases and 0% interest on your existing balance you are transferring.

The 0% Intro APR for 14 months on purchases and balance transfers. 0% purchase APR is longer than most credit cards which works well if you plan to spend right away with it and pay it off slowly. 

Every quarter, specific spending categories will be allowed to 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum + 1% cash back on all other purchases.

This may apply to gas stations, grocery stores, restaurants, Amazon and more. Here you can find a schedule for each quarter

As with all Discover It credit cards, you’ll receive 1% cash back on all purchases automatically.

This is easy to remember for consumers who like cash back systems that are simple. 

One of the key benefits of the Discover It Cash Back credit card is that Discover will match ALL of the cash back you’ve earned at the end of your first year having the credit card.

During your first 12 months as a Discover credit card holder, you’ll have ALL of your cash back that you’ve earned, matched. This can add up and be quite lucrative if you’re a high spender with credit cards. 

As with all Discover credit cards, you won’t have to pay an annual fee. You also don’t have to pay a foreign transaction fee, but you will have a balance transfer fee of 3%.

Keep in mind, however, that 3% is still on the low end considering some credit cards charge 5% on balance transfers

Drawbacks

While the 5% bonus cash back reward is a benefit of this credit card, the drawback is that Discover limits this reward to the first $1,500 spending per quarter. 

If you max it out every quarter that will accrue $300 in bonus cash back while still earning 1% on all other purchases. 

But this may still be a disappointment if you easily clear the $1,500 limit since other cards out there may have higher limits.

Discover credit card is that merchants may not recognize the card at some stores in the US. 

Getting acceptance outside the United States may also be more difficult as compared to Visa or MasterCard.

The Discover It Cash Back card does have a balance transfer fee of 3% which could be a drawback for some consumers

If you have a high balance you’re transferring over, this 3% fee could add up to a lot of money as compared to a credit card that offers 0% transfer fee.

It can be confusing trying to keep track of which spending categories are eligible for the 5% bonus cash back reward each quarter.

If you like a simple cash back system, there are other cards that do not have rotating bonus categories. 

Application Process

Visit the Discover It Cash Back Credit Card home page, and then click on “Apply Now”.

It takes you to the next page where you can choose your card design.

Select one and fill in your personal details like your Names, address, email, birth date, income, employment status, etc, then click “Next.”

Read the terms and conditions, check the two boxes to agree to the terms, and then click on “Submit.”

 

Alternatives

Several other credit cards offer similar benefits to the Discover It Cash Back card in terms of cash back rewards, low fees, and lengthy 0% intro APR periods. 

Let’s look at them next and see if one is better suited for you than the Discover Cash Back card.

Like its name, the discover it gas & restaurants card offers a 2% cash-back rate on gas stations and restaurants, up to $1,000 in combined purchases each quarter . In addition, you shall get a 1% cashback on any other purchase you shall make. For most shoppers, this is an extremely lucrative card to keep.
The card has an uncommon sign-up bonus for all new members in the first year of using the card. Discover company shall match ALL of your cash backs you earn at the end of the first year. This is done automatically.
Okay. For example, if you shall earn $1,000 in cashback rewards, Discover, shall give you an extra $1,000 dollars. This is an offer for all new cardholders, but in the first year only, which is pretty amazing, as most credit cards do not offer this. 

Discover it® Chrome Gas & Restaurants

American Express Blue Cash Preferred is a cashback card that offers rewards on similar purchase categories. The Blue Cash Preferred Card has a $300 back in the form of a statement credit after you spend $1,000 in purchases on your new Card in your first 3 months of Card Membership. .

This card offers Earn 6% cash back at U.S. supermarkets and selected U.S. streaming subscriptions, 3% cash back on transit and gas stations, 1% cash back on other purchases . The 6% cash back at grocery stores does have a $6,000 annual spending limit.

This card has an annual fee of $95 and comes with an  0% intro APR on purchases and balance transfers for 12 months , then a variable APR, 13.99% – 23.99%. This card is different in that it is cash back and not points that are earned on spending. 

The Wells Fargo Rewards Card starts out with a bang, offering 5x rewards points earned for up to $12,500 spent on gas, grocery, and drugstore purchases for the first 6 months. After the 6 months the reward points drop down to 1 point for every dollar spent. All other spending outside of gas, grocery and drugstores is also 1 point for every dollar spent.

One of the biggest benefit to this card is that it does not have an annual fee and has a long introductory 0% APR rate, which makes it very popular among consumers who would like to pay their debt and get rewards on everyday purchases while you don't have to be a big spender in order to get cashback. 

Is the Discover It Cash Back Card Right for You?

If you’re looking for a cash back credit card with a high pay rate, the Discover It card offers an attractive 5% on spending categories you’d likely use frequently like food and transportation. 

The additional bonus of matching your cash back earned in your first 12 months can be a lucrative incentive if you’re comparing maximum rewards value versus other cash back credit cards.

This card is not for consumers with are focused on paying down a credit card balance. There are other card options with longer 0% intro APR periods than the 14 months and that doesn’t have a balance transfer fee, unlike the 3% rate of the Discover It Cash Back card.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.