Credit Cards » Credit Card Reviews » Discover it® Cash Back Credit Card: 2022 Review
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Discover it® Cash Back Credit Card: 2022 Review

The Discover it® Cash Back offers an attractive cash back on spending categories you’d likely use frequently like food and transportation.
Author: Jack Wickens
Jack Wickens

Writer, Contributor

Experience

Jack is a personal finance writer who has been writing for more than a decade. His passion for educating consumers and helping everyday families earn more and live better. He is most knowledgeable with years of experience covering topics such as savings, budgeting, and responsible credit use and always happy to share his expertise with readers.

Review & Fact Check: Baruch Mann (Silvermann)

Jack Wickens

Writer, Contributor

Experience

Jack is a personal finance writer who has been writing for more than a decade. His passion for educating consumers and helping everyday families earn more and live better. He is most knowledgeable with years of experience covering topics such as savings, budgeting, and responsible credit use and always happy to share his expertise with readers.
Author: Jack Wickens
Jack Wickens

Writer, Contributor

Experience

Jack is a personal finance writer who has been writing for more than a decade. His passion for educating consumers and helping everyday families earn more and live better. He is most knowledgeable with years of experience covering topics such as savings, budgeting, and responsible credit use and always happy to share his expertise with readers.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

You can trust the integrity of our unbiased, independent editorial staff. We may, however, receive compensation from the issuers of some products mentioned in this article. See how we make money.

In This Review..

The Discover it® Cash Back card is perfect for people with good credit – besides it doesn't have an annual fee, the card 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% cashback on up to $1,500 in rotating category purchases each quarter when you activate the bonus category (then 1%), as well 1% percent cash back on all other purchases

It also offers a lengthy 0% APR intro period – 14 months 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 year can be a lucrative incentive if your comparing maximum rewards value versus other cash back credit cards

Discover it® Cash Back

On Discover Secure Website

Rewards Plan

1-5%

Sign up Bonus

Match Bonus for the first 12 months

0% Intro

14 months on purchases and balance transfers

PROS

CONS

APR

12.24% - 23.24% variable

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

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 14 months on purchases and balance transfers

The 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% cashback on up to $1,500 in rotating category purchases each quarter when you activate the bonus category (then 1%), as well 1% percent cash back on all other purchases.

This is easy to remember for consumers who like cash back systems that are simple. Here you can find a schedule for each quarter

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 5%.

Discover it® rotating categories 2022

Drawbacks

While the high 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 5% which could be a drawback for some consumers

It can be confusing trying to keep track of which spending categories are eligible for the 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. 

Rewards Analysis: How Much You Can Earn?

The best way to determine whether the Discover it Cashabck card is right for you is to calculate the amount of rewards and benefits you expect to receive.

Remember that this is a general breakdown of expenses, so make sure to tailor it to your specific consumer preferences and spending habits.

Spend Per Category
Discover it Cash Back
$12,000 – U.S Supermarkets
$360
$5,000 – Restaurants
$50
$4,000 – Hotels
$40
$4,000 – Airline
$40
$5,000 – Gas
$50
Estimated Annual Value
$540

How to Redeem Your Rewards?

The Discover It Cash Back card also has several redemption options. In addition to redeeming your rewards with no minimums, you can:

  • Receive as statement credit
  • Deposit cash into your bank account
  • Pay for Amazon and PayPal purchases using your rewards at checkout.

Alternatively, you can pick from Discover Charitable Partners and  donate cashback points to charity.

Make The Most of Your Card

Here are some options to help you make the most of your Discover it Cash Back card:

  • Take advantage of the Signup Bonus: The signup bonus doubles your rewards in the first 12 months, which should be taken advantage of.
  • Maximize the Bonus Categories: Each quarter, it's a good idea to take advantage of as many bonus cashback offers as possible, up to the $1,500 quarterly purchase limit.
  • Examine the bonus categories: Discover publishes a calendar for the entire year, allowing you to see which categories will offer the best rewards each quarter. This will enable you to plan your purchases in order to maximize your rewards.

How To Apply For Discover It Cash Back Credit Card?

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.”

Is the Capital One Quicksilver Cash Rewards Card Right for You?

The Capital One Quicksilver Card is a straight-forward, easy to understand cash back rewards credit card that offers 1.5% cash back on all purchases. If you don't have time for calculations, you spend more than $1,500 monthly and you don't have specific places where you spend you money, the Chase Freedom Unlimited can be a great option for you

While other cards to offer more, the Capital One Quicksilver Card is the card that started this trend, and is still offering and doing more than most of its competitors.

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 15 months and that doesn’t have a balance transfer fee.

Compare The Alternatives

There are several other great options out there for cash back rewards credit cards that offer lucrative sign up bonuses, competitive cash back rates, and attractive intro APR periods. 

Let’s review a few of our top choices as alternative options to the Capital One Quicksilver:

American express blue cash everyday card

Chase Freedom Flex
citi double cash
American Express EveryDay® Card
Chase Freedom Flex℠ Card
Citi® Double Cash Card
Annual Fee
$0 . See Fees & Rates
$0
$0
Rewards
1X – 2X points 2X at U.S. supermarkets (up to $6,000 each year), then 1x on all purchases
1-5% 5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases
2% (1% when purchase and another 1% upon payment) 2% cash back rewards rate – 1% every time you swipe and another 1% upon payment.
Welcome bonus
10,000 points 10,000 points after you spend $1,000 in purchases on your new card within the first 3 months
$200 $200 bonus after you spend $500 on purchases in the first 3 months from account opening
None None
Foreign Transaction Fee
2.7%
3%
3%
Purchase APR
14.49% – 25.49% variable
15.74% – 24.49% variable
15.49% – 25.49% Variable

FAQ

There is no expiry date for these points that you earn when making purchases through the Discover it Cash Back card if you keep your account open.

When you are applying for the Discover it Cash Back card, there is no out and out request for proof of income and no transparent income requirements.

The minimum credit limit will be $300 when it comes to the Discover it Cash Back card. The exact limit that you get depends on your personal financial situation.

If you want to get good rewards from bonus categories and want access to a good signup offer then the Discover it Cash Back card could be a good fit for you.

If you want more predictability with your cashback rewards then there might be other cards outside of the Discover it Cash Back card that will be suitable for you

If you want to get good rewards from bonus categories and want access to a good signup offer then the Discover it Cash Back card could be a good fit for you.

If you are looking to maximize the rewards that you can get from the Discover it Cash Back card, then make the most out of the quarterly bonus categories and signup offers.

You might not have met all of the requirements. You can enquire as to where your application fell short. If you cannot proceed, you can look at some of the other available options.

Review Cash Back Credit Cards

Top Offers From Our Partners

AMERICAN EXPRESS gold card

Rewards Plan:
1x – 4x Points 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus: 60,000 points 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership

citi_premier_card

Rewards Plan:
Up to 3X points 3X points per dollar on restaurant, supermarket, gas station, hotel and air travel purchases, and 1X points per dollar on all other purchases
Welcome Bonus: 80,000 points 80,000 points after you spend $4,000 in the first 3 months of account opening
Rewards Plan:
Unlimited 1-4% unlimited 4% cash back on dining, entertainment, and popular streaming services, 3% at grocery stores and 1% on all other purchases.
Welcome Bonus: $300 $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening

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The product offers that appear on this site are from companies from which this website receives compensation. 

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AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus: $350 $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership
citi-custom-cash_
Rewards Plan:
Up to 5% cash back 5% cash back on your highest eligible spend category each billing cycle up to the first $500 spent and 1% cash back thereafter
Welcome Bonus: $200 $200 cash back after you spend $750 on purchases in the first 3 months of account opening

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The product offers that appear on this site are from companies from which this website receives compensation. 

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

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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.