Discover it Cash Back

Discover it Cash Back Review

This is a cashback card issued by Discover Bank. If you're wondering whether Discover it Cash Back is the right card for you, read on.

Key Takeaways

• Generous reward rate. You can get a maximum cashback rewards rate of up to 5x.
• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 15 months, which is longer than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 14 months.
• Competitive APRs. Discover it Cash Back has a variable purchase APR that ranges from 13.49% up to 24.49%.
• No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. Discover it Cash Back charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $30 in transfer fees.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as identity theft protection, price protection, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 650.

Pros & Cons of Discover it Cash Back

The Good

The Bad

Discover automatically matches all the cash back you've earned at the end of your first year. Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more, up to the quarterly maximum, each time you activate. Potentially lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 15 months. 0% APR on new purchases during the first 14 months. There is then a variable purchase APR that ranges from 13.49% up to 24.49%. No annual fee. Multiple credit card perks. Free access to your credit score. Identity Theft Protection. No foreign transaction fee. Cardholders can earn rewards on purchases everywhere Discover it Cash Back is accepted. Discover it Cash Back reports to multiple credit bureaus.

Does not offer a signup bonus. Charges a 3% balance transfer fee

Discover it Cash Back FAQ

Does Discover it Cash Back have a cash back or rewards program?

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash. However, you can earn up to 5% for purchases in a bonus category.

Discover it Cash Back Rewards

Minimum rewards rate	1x
Max rewards rate	5x
Annual rewards limit	N/A

What are the Discover it Cash Back benefits?

It provides the following benefits:

• Free Credit Score
• Zero fraud liability
• Price Protection
• No blackout dates when redeeming miles
• Reports to major credit bureaus

What are the relevant APRs for Discover it Cash Back?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

Discover it Cash Back has a variable purchase APR that ranges from 13.49% up to 24.49%. The card has a variable balance transfer APR that ranges from 13.49% up to 24.49%. It also has a variable cash advance APR of 26.49% .

The good news is this card does not charge a penalty APR if you are late on a payment.

What are the fees for Discover it Cash Back?

The following fees apply:

Discover it Cash Back Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$
Initial Program Fee	$
Foreign Transaction Fee	0%
Returned Payment Fee	Starting at $ up to $41
Late Payment Fee	Starting at up to $41

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

Does Discover it Cash Back report your account activity to credit bureaus?

Yes, Discover it Cash Back reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Discover it Cash Back

• Visit the Discover it Cash Back website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.