Reviews

Discover it Cash Back Review: Maximize Your Rewards with a Bit of Planning

5% rotating rewards, 0% intro APR, $0 fee, cashback match.

Rickie C. Keys, Ph.D., MPH

17 Mar 2024 — 1 min read

Features

Annual Fee: $0, making it an attractive option for budget-conscious users.
Rewards Rate: Earn 5% cash back in rotating quarterly categories up to the quarterly maximum when you activate, plus unlimited 1% cash back on all other purchases.
Intro APR: 0% intro APR on purchases and balance transfers for 15 months, providing flexibility for new purchases or debt consolidation.
Sign-Up Bonus: An innovative Unlimited Cashback Match for the first year, where Discover matches all the cash back you've earned at the end of your first year, with no limit.

Benefits

High Reward Potential: Earn significant cash back in categories that change every quarter, perfect for maximizing returns on varied spending.
Cashback Match Bonus: An exceptional first-year bonus that could significantly increase your rewards without a spending minimum.
Flexible Redemption Options: Redeem cash back anytime for any amount, offering unparalleled flexibility.
Introductory APR Offer: Offers financial flexibility with a 0% intro APR on purchases and balance transfers, followed by a competitive variable APR.

Drawbacks

Requires Active Management: Quarterly activation needed for 5% categories.
Spending Caps: 5% cash back applies only on the first $1,500 purchases per quarter.
Limited Global Acceptance: Discover is not as widely accepted internationally as other card networks.

Product Summary

The Discover it Cash Back card is an excellent choice for those willing to put in a little effort to maximize their rewards. With no annual fee and a high rewards rate in rotating categories like groceries, gas, and online shopping, it appeals to a wide range of spending habits. The introductory APR offer adds value, providing an opportunity to make large purchases interest-free or consolidate debt. However, the most distinctive feature is the Unlimited Cashback Match in the first year, essentially doubling your rewards without a cap. While tracking rotating categories requires some management, the potential cash-back earnings make it worthwhile. Despite its complexity, the Discover it Cash Back card is a powerful tool in the right hands, offering significant earnings and flexibility in redemption.

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