3 Reasons You’ll Love Discover it Cashback

Finding the best cash back credit card can be difficult. With so many rewards credit cards to choose from and multiple issuers offering competitive rewards and benefits, finding the right card can be a challenge.

Discover offers several cash back credit cards, including the popular Discover it® Cash Back. If you want a card that you can hold onto for the long term, there are many reasons to consider it over all other cards. increase.

1. Rotation rewards that can be maximized

One of the main advantages of this card is the way rewards are distributed. Sign up for Discover it Cash Back and get 5% back on up to $1,500 spent on rotating categories each quarter (activation required). After that you get 1% back. Note: The publisher has changed the featured bonus category in the cashback calendar so that he releases once per quarter instead of all at once as before.

Discover customers must activate the 5% category each quarter to earn rewards. If you want to take full advantage of the rotating categories of cards, we recommend setting a calendar reminder to activate at the start of each quarter. Discover, in particular, has always included easily accessible categories for consumers, such as grocery stores, gas stations, Target, and digital wallet purchases, so when enabled, it will save you a considerable amount of money to meet your $1,500 spending cap. It should be easy to manage.

2. Cashback Match

Another reason to sign up for Discover it Cash Back is the cashback match program. The program essentially doubles all rewards he earns after his first year, regardless of how much he spends or how much cashback he earns.

Let’s take a look at an example to see how many rewards you can earn with a cashback match. Earn $75 cash back every 3 months when you reach the $1,500 spending limit in the bonus category each quarter. Also, every month he spends an additional $1,000 on the card, earning a total of $120 in 12 months. Earn a $420 cashback reward at the end of the first year. With Discover, it doubles to $840 with no extra work.

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For greater clarity, we break down the calculations into the following table.

3. Referral APR Offer

Discover it Cash Back is primarily known for its rewards program, but the card also has a decent APR offer for over a year. The transfer received an APR of 0%, followed by a variable APR of 16.24% to 27.24%.

This makes Discover it Cash Back a great option if you want to pay off a large purchase (like a new washing machine or living room sofa) interest-free over time, or if you want to consolidate and pay off debts you’ve collected from other high-interest be the best option for card.

Why Consider Another Cashback Credit Card

Discover it Cash Back excels by all standards, especially as a no annual fee card, but there are some areas where it may fall short of other cards. It’s only worth it if you put the time and effort into enabling and maximizing your categories. Otherwise, it will be difficult to realize the benefits of the card.

Also, Discover it Cash Back doesn’t have a traditional sign-up bonus, which can be a bit of a hassle. At the end of the first year, your rewards are effectively doubled, unlike other cash back credit cards that offer $200 or more if you meet the minimum spend requirement in the first few months .

Compared to these cards, with a simpler introductory bonus, Discover it Cash Back requires more energy from cardholders to earn a first year bonus of over $200. If you don’t want to go through trouble, you should look for a card with a simpler welcome offer that is achievable with your spending goals.

Another thing to consider is that the length of the introductory APR offer is not as attractive as other reward cards. In fact, there are many cash back credit cards with an introductory annual interest rate of 0% for purchases over 18 months or balance transfers. For example, the Citi® Double Cash Card has a starting APR period of 0% for balance transfers for 18 months (then the variable APR goes from 18.24% to 28.24%).

So if you have serious credit card debt that could take months or more to pay off (see our balance transfer calculator for exact timeframes), consider a balance transfer credit card instead. Recommended. Some of these cards offer 0% annual rate for 18 months or more to give you more time to settle your debt.

Conclusion

Discover it Cash Back could be your dream card if you’re looking for 5% cash back without paying an annual fee. I also don’t mind organizing my purchases around the rotating bonus category to get it.

Either way, there are many great cash back credit cards on the market today, but that doesn’t mean there is one “best” card for everyone. Some cards are suitable for different kinds of needs. Therefore, you should weigh different types of credit cards before making a decision.