You may save a bit on interest and earn a decent sign-up bonus with the Discover it ® Cash Back, but the lower rate of acceptance for Discover cards outside of the U.S. See related: Guide to Discover it® Cash Back rewards and benefits Why you might want a different card It offers 2% cash back on restaurant and gas station purchases (up to $1,000 in combined spending per quarter, then 1%) and 1% cash back on general purchases. Tip: If enrolling in and keeping track of rotating bonus categories is too much for your schedule, the Discover it® Chrome is a simpler alternative if you want to stick with the issuer. Additionally, if you have an authorized user on your account, the purchase limit applies to the total purchases among cards on your account (they won’t get an individual $1,500 quarterly limit). While Discover’s categories are typically varied and practical, it may be hard to truly maximize rewards with this card depending on the categories offered. The 2023 categories are as follows: Discover it ® Cash Back Bonus Calendar 2023 Winterĭiscover previously announced the entire cash back calendar in advance, making it easier for cardholders to plan their year, but now only announces the featured categories quarterly. With the Discover it ® Cash Back card, you’ll earn 5% cash back in rotating categories that you must activate each quarter (up to $1,500 in purchases per quarter, then 1%). See Related: How to transfer a balance to a Discover credit card Rotating bonus categories Just be sure not to charge more than you can pay off in the introductory period – or you’ll end up paying interest that will cut into your rewards earnings. If you have a balance to pay down – or want to be able to finance a large purchase over time without racking up interest – the Discover it ® Cash Back balances these two prospects. But on the downside, it has a shorter introductory period for new purchases. It boasts the same cash back rate as the Discover it ® Cash Back, but offers a lengthier intro APR on balance transfers. While these are typical intro APRs for a cash back card, cardholders who want the best balance transfer offer might be better off opting for the Discover it® Balance Transfer instead. (5% on future transfers see terms), which is on the lower end of the typical 3% to 5% range. Just keep in mind you’ll have to pay a 3% intro balance transfer fee. If you are hoping to pay off some debt without sacrificing a great rewards program, the Discover it ® Cash Back can be a great choice for you. The Discover it® Cash Back offers a 0% intro APR for 15 months on purchases as well as balance transfers ( 17.24% - 28.24% Variable APR thereafter). Intro APR offers on both purchases and balance transfers A $300 welcome offer would be one of the best on the cash back card market, not just for a no-annual-fee rewards card.Įven if you don’t max out the bonus category limit each quarter, earning more than $200 cash back in your first year will at least earn you a larger welcome offer than most competing cash back cards carry. If you max out the quarterly purchase limit on your bonus category purchases, you can still bring in $300 in the first year on bonus purchases alone (which is then matched by Discover at the end of your first year for a total of $600). This is an incredibly lucrative offer, even for a more moderate spender. Rather than a set cash bonus, the Discover it ® Cash Back includes a unique introductory offer for new cardholders – it matches the cash back you earn at the end of your first year. Flexible redemption options, a generous sign-up bonus and intro APR offers are just a few of its notable features. The Discover it® Cash Back should be on your list of cash back cards to consider for more than a few reasons. Why you might want the Discover it ® Cash Back Discover is not accepted as widely as Mastercard or Visa, which could limit your usage - especially abroad.Unlike some rival cards’ cash back, you can’t increase the value of your rewards by pooling them with a premium card and redeeming for travel or via transfer partners.The high cash back rate is limited to $1,500 in combined purchases per quarter (then 1%), which is typical, but can limit the card’s rewards potential for big spenders.Enrollment is required each quarter to earn rewards from the rotating categories, so you have to stay on top of your spending in order to maximize reward earnings.
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