The Discover it® Card was launched two years ago and was a dramatic improvement over its predecessor, the Discover More Card. It’s an exceptional cash-back card, and many hardcore reward seekers that routinely collect tons of airline and hotel points feel the Discover it is worth a place in their wallet for its exceptional cash back earning prowess. It might also be a good choice for those interested in the simplicity of a single card to fill their rewards needs.
As of December 2014, there are two ‘it’ cards available. The original ‘it’ card (which is what we’ll focus on in this review) and the Discover it chrome, which you can read about here.
When it comes to the original ‘it’ card, there are a couple of offers available:
- 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 percent to 22.99 percent 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 percent to 22.99 percent 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 fourth quarter of 2014 (Oct. 1 through Dec. 31), get 5 percent cash back on up to $1,500 in online shopping and at department stores. Coming up in Q1 2015, you’ll get 5 percent back on gas and ground transportation. That includes various stand-alone gas stations, as well as charter and tour bus lines, public transportation, trains, limos and rental cars.
- 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 – Discover’s online shopping portal is probably one of 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.
- NEW: No more redemption minimums – Discover eliminated its minimum redemption thresholds for direct deposits and statement credits in November 2014. In the past, you had to wait until you had $50 accumulated before you could cash out. Now, you can redeem for any amount. Minimums for gift cards may still apply.
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 gives imitators, the ability to get your genuine FICO without paying is a great perk. FICO scores usually cost $20 each. To get your complete FICO picture, you’d still need to pay $20 for your Experian and Equifax FICOs, but having your TransUnion FICO for free every month is a very useful snapshot.
- 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 one extra year, on warranties of three 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 Guarantee – 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 merchant acceptance of Discover is improving in the U.S. You may be surprised to hear that they are now accepted at over 8 million merchant locations nationwide and at 94 percent of the top 1,000 online retailers.
Discover it vs. the competition?
Discover it certainly sounds impressive, but how does it really compare? Well, review for yourself to see Discover it versus other popular cash back credit cards.
This is one of 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 an opportune time to get it because of the promotions that are available.
Below are the sign-up offers available for the Discover it during December 2014. Choose the one that works best for you.
- Use this link to get 0% Intro APR for 18 months on balance transfers. You also receive a 0% APR introductory rate 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 percent to 22.99 percent 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).
Updated Dec. 1, 2014