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Discover it Card review
24 Apr 2018

Discover it Card Review

Are you considering getting a Discover credit card?

Discover is one of the top four biggest credit card networks in the United States. Over 32 million people use a Discover credit card regularly.

The Discover It card is largely popular among consumers because of its rotating cash back offers and other details.

It’s important to do your research well if you are searching for a new credit card to meet your needs.

In this post, we’ll give you the comprehensive review of the Discover It card you need to feel confident in expanding your credit options!

The Basics: Discover It Card

The Discover It Card is primarily cash back credit card. This means that it offers users a certain percentage of cash return on specific purchases.

Many credit cards offer a baseline cash back return on standard purchases. These returns generally constitute 1 or 1.5 percent of each individual purchase price.

Discover It card enables users to get 5% cash back on specific types of purchases within rotating quarters.

Every three months, Discover It card users can earn cash back in common purchase categories such as at gas stations, grocery stores, or Amazon.com. There is a purchase limit for quarterly categories.

In addition to cash back quarters, users will always earn 1% cash back on all purchases that fall outside of quarterly categories.

So what do you do with all of that cash back accumulated every month on your statement?

You can easily redeem it at any time in the form of a statement credit. You can also use cash back directly as a payment method for Amazon.com purchases.

There is no annual fee for this credit card, which means that you don’t have to pay a fixed amount to keep your account open and valid every year.

APR rates for Discover’s cash back credit card vary between 13.49 and 24.49%. This means that any unpaid balances will be charged interest at a rate within this designated window.

Users with a Discover card can also get a comprehensive view of their FICO credit score through their online accounts at any time. This service is free.

It’s possible to request a Discover It card online.

Doing so typically takes only a few minutes, and will require users to input income levels, their social security number, and contact information. Most people who request a Discover card are able to receive a verdict within a short amount of time.

The Pros

Now that you have a solid understanding of the basics of the Discover card, let’s look at its benefits.

1. Cash Back Opportunities are High

The Discover card gives users many opportunities to earn significant cash back on purchases they make in a given year. What’s more, its cash back quarters include categories in which most users are likely to make frequent purchases.

Many users value getting 5% back on their grocery store purchases, for example, particularly if they belong to a large family. Individuals with long commutes can earn a significant return on gas purchases with Discover’s 5% cash back quarter.

This can be a great benefit for credit card users looking for means to save cash during the year. Discover’s cash-back affiliation with Amazon is also ideal for users who frequently shop on this site.

What’s more, your cash rewards never expire.

2. Excellent Intro Offers

Currently, first-year Discover card users can enjoy 0% APR on purchases and balance transfers placed within the first 14 months of use.

What’s more, Discover will also match all of the cash back you earn in your first year of use. Users never have to pay an annual fee.

3. Highly Rated Customer Service

Discover’s representatives are all U.S-based, meaning that they are easy to contact should any needs arise. What’s more, the credit card company’s customer service ratings are relatively high.

If you are looking for a credit card backed by solid support, the Discover It card may be a great solution.

The Cons

There are a few potential drawbacks to using a Discover It card if you are approved for use. Keep these in mind as you continue to research ideal credit cards for your financial situation.

1. Discover Requires Good Credit

In general, getting approved for a Discover card requires a more or less good credit score. Most approved applicants have credit scores starting at 690.

This can be prohibitive for individuals who have poor or bad credit. If you’re looking for an excellent credit card for people with bad credit, check out these options here.

2. Cash Back Quarters Can be Limiting

It can be dizzying staying on top of the Discover card’s cash back quarters. Because these opportunities change every three months, users may prefer a card that has a fixed cash back percentage for all purchases.

Some users don’t regularly make purchases from some of Discover’s regular cash back categories, such as warehouses or movie theaters. This can be limiting for credit card users looking for greater cash back opportunities year-round.

3. Discover Isn’t Widely Used Globally

This is perhaps the largest drawback to using a Discover card. While Discover is more or less widely used in the U.S., many international locales do not accept this credit card provider.

If you are a frequent globetrotter, you may find yourself without a means to pay on more than one occasion.

The Verdict

At the end of the day, the Discover It card provides users with a great means of generating hefty cash back throughout the year.

It can be valuable for people who frequently make purchases from its cash back categories, such as gas stations and grocery stores.

Users will enjoy some competitive intro APR and cash back offers. However, only users with higher credit scores are applicable for this card.

What’s more, international travelers and individuals craving some cash back stability won’t find much luck in the Discover card.

All in all, if you aren’t anticipating traveling around the world anytime soon and if you’re eager to rake in some cash back this year, Discover may be a good solution.

At Bonsai Finance, we love helping our clients discover personal finance solutions that work for them, including rebuilding credit scores from the ground up. Learn more today!