The Discover It Card was launched last year and was a dramatic improvement over their previous iteration, the Discover More Card. Discover It is an exceptional cash back rewards card for reasons I’ll detail below. Even for hardcore reward seekers that routinely collect loads of airline and hotel points swear by this card and feel it’s worth a place in their wallet. It might also be a good choice for those looking for a single card to fill their rewards needs.
April 2014 update: At the moment there are several promotions available for it:
- Use this link to apply for 0% Intro APR for 18 months on balance transfers. You also get a 0% intro for 6 months on purchases. After the intro periods, the APR is 10.99% to 22.99% Variable*
- Use this link to apply for 0% Intro APR for 14 months on both transfers and purchases. After that the interest rate is 10.99% to 22.99% Variable*
*Please click the links to see rates, rewards and free FICO Credit Score terms and other info.
- 5 percent cash back on categories – Just like its predecessor, the “it” credit card gives 5 percent cash back in popular categories that change throughout the year, such as restaurants, home improvement stores, department stores and more. You earn the full 5 percent on spending up to the quarterly maximum (typically that’s $1,500 in bonus category spending per quarter). For the second quarter of 2014, get 5 percent cash back on up to $1,500 in purchases at home improvement stores, furniture stores and Bed Bath & Beyond from April 1 through June 30.
- 1 percent cash back on all other purchases – The old tiered rewards are a thing of the past. Now you earn a full 1 percent on all your other spending.
- 5 percent to 20 percent extra through ShopDiscover – Sure, every credit card company has their online shopping portals, but the one from Discover might very well be the most lucrative. You can shop at more than 200 online retailers and earn 5 percent to 20 percent cash back. I would estimate that probably half of my “it” card purchases involve using this. No other program offers a cash back rate this high at the websites of Wal-Mart, Target and the many others that are included.
You also get better benefits…
- Almost no fees of any kind – No annual fee, no fee for first late payment, no over-limit fee, no fee for payments by phone and no foreign transaction fees. There are also no APR hikes for late payments.
- Free FICO® Score Every Month – You get your genuine TransUnion FICO credit score for free on your statement every month. Because almost every credit score website on the net gives imitators, the ability to get your genuine FICO without paying is a great perk. FICO scores usually cost $20 each.
- Flexibility – You can choose your own due date and you have until midnight EST to pay by phone or online.
- Purchase Protection – All eligible purchases made with your Discover card are protected for up to $500 during the first 90 days if they’re stolen or accidentally damaged.
- Extended Warranty – This insurance will extend the terms of the original U.S. manufacturer’s warranty and any purchased warranty for up to 1 extra year, on warranties of 3 years or less.
- Price Protection – They’ll refund up to a $500 difference if you find a lower price within 90 days of making a qualifying Discover it card purchase.
- Return Protection – Is the store refusing your return? With this benefit you can return any eligible purchase within 90 days for up to a $500 refund.
- Unique design – The Discover it card prints all of the card information on the back.
And it’s worth pointing out that acceptance of Discover is now almost comparable to Visa and MasterCard in the U.S. You may be surprised to hear that they are now accepted at over 8 million merchants and at 94 percent of the top 1,000 online retailers.
Discover it vs. the competition?
Sure it sounds impressive, but how does it really compare? Well review for yourself to see Discover it versus other popular cash back credit cards.
This may very well be the best no-annual-fee rewards card on the market right now. I have the card myself and recommend it to you, too.
And remember now is the most opportune time to get it because of the promotions that are available.
Below are the sign-up offers available for the Discover it during April 2014. You won’t see these everywhere. Choose the one that works best for you.
- Use this link to get 0% Intro APR for 18 months on balance transfers. You also get a 0% intro for 6 months on purchases. After the intro periods, the APR is 10.99% to 22.99% Variable*
- Use this link to get 0% Intro APR for 14 months on both transfers and purchases. After that the interest rate is 10.99% to 22.99% Variable*
*Click “Apply” to see rates, rewards, and free FICO® Credit Score terms and other info.
Are you a student? Then check out the Discover it for students (with this link you get a $20 bonus after making a purchase within the first 3 months).
Written or last updated March 27, 2014