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Discover it Cash Back Credit Card: BiggerPockets Reviews
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The Discover it® Cash Back credit card offers one of the highest reward percentages available, but there are a few catches that cardholders need to be aware of in order to fully take advantage of the card’s capabilities. In short, those flashy five percent cash back rewards are only available on a select few categories which rotate each quarter, and those offers must be activated manually by the cardholder.
The stats
- 0% APR for the first 14 months; variable 11.99 to 22.99% APR thereafter
- Annual fee: none
- Balance transfer fee: 3% through December 2020; 5% thereafter
- Cash advance fee: $10 or 5%, whichever is greater
- Foreign transaction fee: None
CREDIT REQUIREMENTS
Reports indicate that the Discover it® Cash Back program requires a good or excellent credit score for acceptance. A minimum credit score of 700+ is advised, and higher credit scores may yield lower APR rates following the introductory period.
Rewards
- Statement credit
- Direct deposit to a bank account
- Donations to select charies
- Amazon or PayPal shopping credits (requires linked accounts)
- Gift cards or eCertificates ($20 minimum amount)
PROS
- High five percent reward percentage on rotational categories
- No minimum for cash back redemption
- Cash back matching for 12 months
- No annual fee
- No reward expiration
- Zero percent APR introductory offer
- U.S. based customer service
CONS
- Rotational rewards must be activated
- Rotational rewards are subject to spending limits
- Not accepted as widely as some other cards, especially in international areas