Discover it® - Cashback Match™ Review
The cash back rewards start with 5% cash back (on up to $1,500 in purchases) in rotating quarterly categories and a standard 1% cash back on all other purchases. Amazon.com is a 5% back category in Q3 and Q4, so from July 1st until the end of 2016 you'll earn great cash back rewards when you shop there. In addition, users will earn double the cash back they've earned in their first year of card ownership. That's a big deal! You will literally get 2x the cash back you earned in the first year. That means if you earn $250 in your first year, Discover will double it to $500. If you do the math it's like getting 10% cash back in rotating categories the first year you have the card! If you apply for the card now you could pretty much earn 10% back at Amazon (on up to $1,500 in purchases each quarter) until December 31, 2016, a terrific way to get extra money for the shopping you already do now and into the holiday season.
Right now Cardholders will also receive a free TransUnion FICO® Score on their monthly statement, which can help keep track of their credit over time. Although Equifax and Experian scores aren't provided, it's nice that the TransUnion score is included as it's at least one data point in your credit history. And globetrotters will appreciate that there are no foreign transaction fees on purchases made outside the U.S.
Also included is the Discover Freeze it feature, which allows users to "freeze" their account from their smartphone or computer if their card is misplaced. Freezing the account prevents new purchases, cash advances and balance transfers from occurring. This is a great feature, especially in those situations where you're not sure where your card is but you're not quite ready to call and have it cancelled.
Overall Discover it® - Cashback Match™ is a smart pick for anyone wishing to combine generous cash back rewards (2x cash back in the first year!) with a 0% intro APR on purchases and balance transfers. It is also a good card for travelers as it has no foreign transactions fees.
Highlights From Discover
- You could turn $200 into $400 with Cashback Match™. We'll automatically match all the cash back you earn at the end of your first year. New cardmembers only.
- Earn 5% cash back in new bonus categories each quarter like gas, restaurants, Amazon.com and more, up to the quarterly maximum each time you activate. Plus, unlimited 1% cash back on all other purchases.
- Redeem your cash back for any amount, any time. Cash rewards never expire.
- 100% U.S. based customer service.
- Get your FICO® Credit Score for free on monthly statements and online.
- No annual fee.
- Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.
- Discover will automatically double all the cash back you've earned at the end of your first year. This offer is only for new cardmembers.
- Earn 5% cash back on up to $1,500 in purchases within select categories that rotate quarterly.
- Earn 1% cash back on all other purchases, with no limit on how much you can earn.
- Earn 5% to 20% Cashback Bonus through exclusive online shopping mall.
- Rewards are redeemable in any amount at any time.
- Deposit into your bank account or credit your Discover card account.
- Turn your cash rewards into more when you redeem for gift cards or eCertificates from over 100 brand-name Partners.
Fees and APR
- Annual Fee: $0
- Foreign Transaction Fee: None.
- 0% Intro Purchase APR: 0% APR for the first 14 months, then Purchase APR.
- Purchase APR: 11.24% – 23.24% Variable, depending on creditworthiness.
- Balance Transfers: 0% Intro APR for 14 months, then Purchase APR. Balance transfer fee is 3% of the amount of each transfer.
|Purchase APR:||0% for 14 months, then 11.24% – 23.24% Variable|
|Features:||Double your cash back at end of 1st year; 5% cash back on purchases within select categories up to the quarterly maximum; 1% on all other purchases|
|Credit Needed:||Excellent, Good, Average|
NextAdvisor Credit Cards Blog Headlines
- Which Wells Fargo Credit Card is Best for You?
If you’re a Wells Fargo customer (or planning to become one), you might be considering getting a credit card with […]
- What You Need to Know About Credit Card Authorized Users
Most credit cards come with more perks and features than you might realize, such as travel benefits like roadside assistance […]
- Discover Extends Its 0% Intro APR Period to 14 Months
Discover just lengthened the 0% intro APR period for a number of its credit cards from 12 months to 14 […]
- Best Cash Back Credit Cards for Everyday Purchases
Groceries, gas and dining out are some of the biggest and most common expenses in our budgets. While you may […]
Related Forum Posts
- What is the list of categories that earn 5% back with Discover it Double Cash Back?
Discover it Double Cash Back Card your first year earns 5% cash back in categories that rotate quarterly (on up to $1,500 in purchases each quarter)[...]
- Are current Discover cardholders eligible for the Discover it Card?
Unfortunately, current Discover it cardholders are not eligible for the Discover it Card 14-month 0% APR on purchases and balance transfers. [...]
- What credit score do you need for the Discover it Card?
The Discover it Card requires "excellent" credit. The FICO score range for excellent credit is typically above 724.[...]