Discover It Card Review: Cash Back Rewards and Balance Transfer Promotion
Read more about Discover it®
A generous cash back and 18-month balance transfer offer makes the Discover It Card the go-to card to keep more money in your pocket. When you consider the rewards, low fees, and good customer service, it’s pretty easy to see why Discover It is one of the most popular cash back credit cards available.
Pros and Cons
Excellent cash back credit card with no annual fee and low interest rate
Cash Back Program
Every time you buy something on the Discover It card, you earn cash back. This card earns an unlimited 1% on all regular purchases. It also has rotating bonus categories that earn extra cash back. For example, the bonus category for July through September 2014 is gas stations. For each period, you earn 5% cash back (instead of 1%) on up to $1,500 of purchases in the bonus categories (requires free & easy activation), a maximum of $75 cash back. Once you hit this $1,500 limit, the cash back percentage drops back down to 1%.
The 2013 bonus category calendar was as follows:
The 2014 bonus category calendar is:
Once you’ve earned at least $50 worth of cash back, you can take out the money as a deposit in your bank or as a credit against your card purchases. You can also redeem your cash back for merchandise or gift cards from a variety of vendors. When redeeming rewards for gift cards, some offer additional value; for example, you can redeem $40 in rewards for a $50 gift card for some retailers.
An added bonus for Discover cardholders is ShopDiscover, which offers another opportunity to earn 5% to 20% cash back on online purchases. Just visit ShopDiscover.com to register and then you can login with your user ID and password to access cash back bonuses at hundreds of stores. Participating vendors have a link to their site alongside the cash back percentage they offer. Click through the ShopDiscover link to visit the retailer's site and you'll earn the specified percentage of cash back on all purchases you make on the site with your Discover card.
This card offers an introductory 0% APR on balance transfers (18 months) and purchases (6 months) to welcome new cardholders. Then, the variable purchase APR applies, which is currently 10.99% to 22.99%, depending on your creditworthiness.
0% Balance Transfer Promotion
There are very few fees associated with the Discover It card. There's no annual fee, which can save you quite a bit of money each year compared to what you could be paying elsewhere. In addition, many of the annoying usage fees charged by other credit cards don't apply to the Discover It- there are no overlimit fees, pay by phone fees, or foreign transaction fees.
Late Payment Leniency
Warranties and Protection
Discover offers a number of warranties and protections to cardholders:
US Customer Service
Discover prides itself on delivering great customer service for its cardholders. This card offers 24-hour live customer support - a rare feature in today’s computerized economy. Customer service representatives are trained to help you maximize your rewards. When you call in, you can explain what you want to do with your rewards and the representative will find the best possible deal for you.
If you’re looking to save money and avoid fees, the Discover It Card is hard to beat. It combines a fantastic cash back program with a simple and lenient fee structure which make this card overall a great deal. Unfortunately, since some merchants don't accept Discover, we suggest you also have another card in your wallet.
Editorial Note: This content is not provided by Discover. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Discover. This site may be compensated through the Advertiser's affiliate programs.
Disclaimer: Discover is a paid advertiser of CreditDonkey.
Disclaimer: This content was first published on January 11, 2013. This content may have been updated on August 17, 2014. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Discover website for updated information.
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