If you love spending and love cash, you'll want to check out the Discover It Credit Card, which gives you 5 percent cashback. With hundreds of credit cards on the market, more companies are offering customers cashback to get their business.
A few years ago, the standard credit card cashback rate was about 1%, but it's slowly creeping up, and Discover It is on top of it by giving you 5% back. It's kind of like spending your money and then getting it back to spend it again. What's not to love?
Of course, no one is suggesting you should start spending irresponsibly because you're getting a cashback perk. After all, they aren't giving you a 100% back. So if you want to know about the other good stuff the Discover It Cash Back Credit Card provides, read on.
What Are The Features Of The Discover It Cash Back Credit Card?
When it comes to rewards, the Discover It card is all-out. It is famous for the 5 percent cash back perk for everyday purchases, with rotating categories each quarter. This allows cardholders to maximize the cashback feature of the card for purchases amounting to $1,500 per quarter.
The card also has free access to FICO score, allowing you to keep track of your card use and payments. The mere use of the card helps to build and enhance your credit score over time. Aside from FICO, cardholders can also get free Social Security number monitoring service.
For rewards redemption, note that cash-back amounts don’t expire, and you can redeem any amount at any time. Categories that rotate each quarter include grocery spends, fuel, Amazon purchases, restaurants, entertainment, travel, and more.
Cons of the Discover It Cash Back Credit Card
Discover only allows 5 percent cash back for purchases up to $1,500 each quarter. This means that if you are a heavy spender beyond $1,500 for three months, you can only redeem the 5 percent cash back for a maximum of $1,500 spent on the card.
What Are The Fees?
The great thing about the Discover It Cash Back Credit Card is that there is no annual fee. Cardholders can enjoy the card's features without paying a joining or annual fee. For the first 14 months of card activation, you can enjoy 0% APR on purchases and balance transfers.
After the intro period, an interest rate of 13.49 percent to 24.49 percent is charged on your card. A 5 percent fee is charged for balance transfers. For the late payment fee, a $40 is charged.
How To Apply
The online application makes applying for the Discover It Cash Back Credit Card easy. To qualify as a cardholder, you need to satisfy the requirements set by the bank. In addition to being at the legal age of 18 years old, you also need a good credit score of above 670.
If you have another Discover card, you must have had an open account for at least one year before applying for a new credit card. Documentation to verify the information includes a valid identification card or passport, proof of residence, bank account statements, and payslips.
The Bottom Line
If you are after a cash-back perk, the Discover It Cash Back Credit Card is a good choice. Thanks to its suite of rewards and perks, it provides value to cardholders. For more information, visit Discover's website today.
Discover It Contact Information
You can reach Discover by dialing the credit card hotline at 1-800-347-2683 or 1-801-902-3100 for customers outside the United States. You can also use the Discover Live Chat tool for general queries.
*Note: There are risks when applying for and using a credit card. Consult the bank’s terms and conditions page for more information.
