For several years, Discover’s More was by far their most popular credit card. It had a generous 5% cash back program but came with one major drawback; for all spending outside of the bonus categories, you only earned 1/4% on the first $3,000 spent annually.
But now that problem has been solved! In 2013, the new Discover it® card was launched. It’s replaces the More card and offers a more generous rewards program…
- 5% cash back on categories – Just like its predecessor, the It credit card gives 5% cash back in popular categories that change throughout the year such as gas stations, restaurants, department stores, and more. You earn the full 5% on spending up to the quarterly maximum (typically that’s $1,500 in bonus category spending per quarter).
- Full 1% cash back on all other purchases – The old tiered rewards are a thing of the past. Now you earn a full 1% on all your other spending!
- 5-20% extra thru ShopDiscover – Sure, every credit card company has their online shopping portals, but the one from Discover is the undisputed winner. You can shop at over 200 online retailers and earn 5% to 20% cash back. I would estimate that probably half of my it card purchases involve using this. No other program offers this high of cash back at the websites of Walmart, Target, and 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.
- Flexibility – You can choose your own due date and you have until midnight EST to pay our Discover it 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 information on the back.
And it’s worth pointing out that acceptance of Discover is now comparable to Visa and MasterCard in the US. You may be surprised to hear that they are now accepted at over 8 million merchants and at 94% 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 the Chase Freedom and 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 with their current offer (below) you get the 0% intro APR* on BOTH purchases and balance transfers for the first 14 months. After that the variable interest rate is 10.99% to 22.99%. *Please click the link to see full terms and conditions.
Are you a student? Then check out the Discover it for students. It doesn’t come with the same 0% intro offer, but you do get the same great rewards program as the regular version.