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Discover It CashBack Card
28 Jul 2018

The Verdict on the Discover It CashBack Card

Finding the right credit card can be a challenging task.

First, you must find something that will align with your budget, as the last thing you want to do is fall into debt. Then, you need to decide which benefits a card offers you that you would actually use.

The Discover It card may be that card. The basic benefits paired with excellent customer service make this a popular card for many consumers.

If you’ve been asking yourself the question, “Is Discover card good?” then read on for a comprehensive Discover It card review. We’ll touch on the pros and cons so you can make an informed choice whether it’s a good card for your wallet.

The Discover It Card Review

The Discover It cash credit card is a basic credit card available to people with excellent credit.

It’s important to keep in mind that Discover card is not accepted at all retail establishments, including restaurants. You shouldn’t experience any issues using this card online. But you may want to have a primary or backup card on hand for shopping and eating out.

Other than that, it carries an APR from 13.49% to 24.49%. Discover often runs promotions doubling rewards for signing up.

The Discover It card is rated as one of the best cash back credit cards for good reason. It offers 5% bonus cash in quarterly categories just for using the card. Their introductory offer for new members is also enticing.

Listed here are some pros and cons of carrying this card.

The Pros

No matter what credit card you choose, you should make sure the benefits outweigh the cons.

Credit cards are expensive–and credit card debt is no laughing matter. You should use your credit card wisely and make sure that it’s not costing you more than it’s worth.

The Discover It card offers enough benefits that you won’t regret signing up for the card and continuing to use it. The APR is relatively low. And you’ll never pay for more than what you spend if you pay your balance before the monthly due date.

Introductory Offer

Before you even start using this card, you’ll start reaping the benefits.

Discover will match all of your cash back rewards and apply them to your card at the end of your first year. This will be done automatically.

When you start using your card and notice the other benefits it provides, this initial reward will make a lot more sense. And, you’ll be satisfied that it’s a good deal.

5% Cash Back

For every dollar you spend at different places in different categories throughout the year, Discover will give you 5% cash back on those purchases.

For example, these places include grocery stores and gas stations. You can also see significant rewards by using your card at during the holiday season.

There’s even a cash back calendar by which you can earn rewards:

  • Jan-Mar: Wholesale Clubs and Gas
  • Apr-June: Grocery
  • Jul-Sept: Restaurants
  • Oct-Dec: and Wholesale Clubs

What this means is that you can spend at these establishments during each set time of year to earn the maximum reward on your credit card. You can also earn 1% cash back at any other retail or online venue.

Redeem Anytime

One of the best features of this credit card is the ability to redeem your rewards anytime. You can redeem your points or rewards as donations, gift cards, payments at select retailers, or a direct deposit into your bank account.

Additionally, some reviews mention that rotating categories is a major pro in considering this card. It gives you the ability to earn big during select times of year and then cash in on those rewards later.

The Cons

Every credit card has a few cons too. This card is no different, although the pros tend to outweigh the cons in most categories.

We’re listing some things to think about when you consider signing up for this card. That way, you’ll at least know what you’re getting into upfront without too much research.

Excellent Credit Required

If you have less than stellar credit, this may not be the credit card for you.

You’ll need a credit score of at least 740 to qualify for this card. The better you maintain your credit, the more chance you’ll have at obtaining a Discover It credit card.

It’s also important to remember that once you obtain the card, you should never have more than 30% revolving credit on your balance. This will not only improve the health of your credit score but give you a better chance of getting a credit limit increase later down the line.

Enrollment Required

You must login to your account each quarter and activate your spending category in order to earn your cash back rewards.

This may seem like a nuisance to some people. But it’s a good way to stay on top of your finances and take a look at your spending habits while you’re at it.

Cash Back Is Limited

The 5% cash back reward is limited to $1,500 in purchases each quarter. This means that after you spend $1,500, there will be no more rewards to stack up.

So if you plan to spend more than that, you may consider a more viable option.

The Verdict

The Discover It is a fantastic credit card if you’re willing to spend some time with it every quarter. You can use the time required to dedicate to this card to also check your credit score and maintain your credit. You’ll receive FREE Social Security alerts from Discover for being a member.

There is no annual fee with this card and no foreign transaction fee for you travelers out there. This paired with the cash back benefits makes it a fitting card for anybody looking for a fair rewards card.

If you’re considering a new credit card, just remember this Discover It card review. Compare it with the other cards sending you offers. This could be considered one of the best credit cards of 2018.

Check out our other reviews for a comprehensive look at credit cards.