Discover Card is a consumer credit card brand well-known for its Cash-back rewards program and reduced fee structure. It is the seventh-largest issuer of credit cards globally. Discover it Cash back Credit Card that greatly aids your wallet by earning you Cashback rewards.
The Cash-back rewards vary from 1 % to 5%. Moreover, It does not charge you any annual fee. In addition to that, you can redeem your cash back rewards. Here is everything you should know about it.
Table of Contents
- Discover it cashback card benefits
- Odds of Approvals
- Why might you want to go-for
- Current quarterly bonus categories
- is the-Discover it Cash Back card worth it?
|Balance transfer fee||5% of the amount of each transfer|
|Foreign transaction fee||0%|
|Regular APR||11.99% – 22.99% Variable APR|
|Intro APR||0% intro APR for 14 months on purchases and balance transfers|
Discover it Cash back Credit Card, do not charge any joining and annual fees, we expect that credit card with such a deep rewards structures to charge an annual fee, but that’s not the case here. On top of that there are no Foreign transaction fee that is better than Citi Custom Cash Credit Card.
Discover it cash back card benefits
- 5% cash back on up to $1,500 in purchases each quarter on rotating categories after you activate, then 1%.
- No annual fee
- Discover cashback match program for the first year
- Redeem cash back in any amount, except in the case of gift certificates and certificates.
- No Foreign transaction fees
- Free access to FICO score.
What are the Approval odds of Discover it Cash back Credit Card ?
Discover it Cash back Credit Card has been designed for for users with good to excellent credit (above 670), you need check , you credit score before applying of this credit card. You will not be approved if your credit score is below 670.
Why might you want to go for Discover it Cash back Credit Card ?
Below are the reason, you you want to go for Discover it Cash back Credit Card.
# 1. The Most Trusted Credit Card according to Investor’s Business Daily
In the Investors’ Business Daily, a report of Credit Card Companies was made where they took the feedbacks of various investors. Discover Credit Card Company topped the chart with an Overall Trust Rating of 91.6, showing that it is the most trusted company by investors.
#2. Generous Rewards:
There is a wide range of rewards offered by Discover it credit which includes the following:
Introductory Offers: Unlimited Cash-back
Discover Cash-back card automatically matches all the cash back you have earned at the end of your first year. There is no cap on minimum spending or maximum rewards. You can turn $200 cashback into $400 and even more.
Discover matches all the cash back earned by you in your first year with the Cash-back Match.
5% Cashback on everyday purchases
Discover Cash-back card earns 5% cash back rewards on your everyday purchases up to $1500 at different places each quarter, including Amazon.com, Grocery Stores, Restaurants, Gas Stations. Moreover, you can also earn 5% cashback on payments made by using PayPal.
Unlimited Cashback of 1%
You can automatically earn an unlimited 1% cashback on all other purchases.
#3. Redeem Cash-back in any amount
Discover it Cash Card enables you to redeem your cash back rewards in any amount, anytime you want. Cashback Rewards never expire.
You can redeem your cash back rewards in any amount, except in the case of gift certificates and e-Certificates, starting at $5. Cash-back redemption options include the following:
- Direct Deposits into any account.
- Credits Statement on your account.
- Donations to select charities.
- Gift Cards, and E-Certificates,
- Shopping on Amazon.com and paying via PayPal (This can be done by linking your eligible Discover Card to your Amazon and PayPal Accounts, paying with that card, and applying your Cash-back at the Checkout ).
#4. 0 % intro APR:
For the first 14 months, 0% APR is applicable on purchases and balance transfers. After that, a variable APR of 11.99% to 22.99% is applicable.
#5. Other Benefits
- Other Benefits
- No Annual Fee Required
- No Foreign Transaction Fees involved
- Free access to your FICO score , one of the best customer care services among the Credit Card issuing firms.
- Access to Discover’s free Social Security Number Monitoring Services
- Freeze It: In case your card is ever lost or stolen, Discover can freeze any new transactions (except the general utility expenses and delayed payments), thereby protecting you from potential theft.
Drawbacks/Limitations to Discover it, Cash-back Card
- Due to the rotating bonus categories, you must register each quarter to avail of the cash back rewards of 5 %.
- 5% Cashback reward rate is restricted to spending worth $1500 each quarter.
- Discover is not as accepted as its competitors are everywhere.
What are the card’s current quarterly bonus categories?
Below are the Discover it Cash Back card current quarterly bonus categories :
|Q1||(Jan. 1 – March 31)||• Grocery stores|
|Q2||(April 1 – June 30)||• Gas stations|
• Wholesale clubs
• Select streaming services.
|Q3||(July 1 – Sept. 30)||• Restaurants|
|Q4||(Oct. 1 – Dec. 31)||• Amazon.com|
What will be the Credit Limit for Discover it Cash Back card
Credit Limit shall depend on information you provide in application from and your consumer report .Bank will check your creditworthiness, will decide the Credit limit of your credit card. You can not not request a specific credit line, however, If you are approved, your credit limit will be at least $500.
Money Niti’s Take on- Is the Discover it Cash Back card worth it?
The Discover it Cash-Back Credit Card
The Discover it Cash-Back Credit Card is perfect for people who can adjust their spending to avail of the Cashback Rewards offered by The Discover's Cash-back card each quarter. It's a simplistic cashback card with no Annual Fee, making it feasible for people who do not want to invest in a more expensive reward credit card.
Suppose you are someone who is working hard to improve your credit card score to “good” or higher range (670+ FICO Score) and still want to take every advantage. In that case, the Discover Card has to offer, and you can go for Secured Credit Card to help you build your credit with the three major credit bureaus and with responsible use.
There are numerous Pros and Cons of carrying Discovered Cash Card, as compared to cards from other major issuers. While these cards offer tangible rewards, you may be able to find better rewards with cards issued by other issuers. If low fees and excellent customer services are the cause of concern for you, it might just be the best choice for you.
What Credit Score do I need to get the Discover it, Cash-back Card?
Discover Credit Cards are well-known for their accessibility since they are accessible to anyone with a good to excellent credit score. A FICO score of 670-850 or a 661-850 Vantage Score will surely make you a prime candidate for the Discover it Cash-back Card.
Is there a limit on Cash-back with Discover it?
There is no limit on how much total Cashback with Discover it you can earn. However, 5% Cashback rewards are limited to $1500 each quarter, but there is no limit to 1% Cashback rewards.
Credit Score needed for Discover it cash back credit
You need to have excellent credit Score to eligible for the Discover it Cash Back credit card. Normally, if you have credit score of 690 or more, then you are eligible for this credit card, except of you fulfill other condition