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 like gas, restaurants, Amazon.com, Sam’s Club and more, on up to $1,500 in purchases every quarter 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.
- FICO® Credit Scores for free on 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 12 months, then Purchase APR.
- Purchase APR: 11.24% – 23.24% Variable, depending on creditworthiness.
- Balance Transfers: 0% Intro APR for 12 months, then Purchase APR. Balance transfer fee is 3% of the amount of each transfer.
|Purchase APR:||0% for 12 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
- How to Get the Most Out of Your Rewards Credit Cards
If you’re thinking about opening a new rewards credit card, you may be having a hard time figuring out which […]
- Delta SkyMiles Business Credit Cards’ Limited-Time Offer Earns You Up to 70,000 Bonus Points
If you’re a business owner who frequently flies Delta Airlines, we have some good news for you. That’s because American […]
- What to Do if Your Balance Transfer Credit Card Limit Isn’t High Enough
Whether you’re juggling balances on multiple credit cards that are all earning interest or carrying a balance on one high-interest […]
- What Kind of Balances Can I Transfer to My Credit Card?
The benefits of performing a balance transfer are plentiful, allowing you to take advantage of a new credit card with […]
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.[...]