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The Discover it® Cash Back* is one of the best cash-back credit cards on the market. The Unlimited Cashback Match welcome bonus essentially doubles your cash-back ensures at the end of your first year. This can failed hefty rewards, particularly when applied to the bonus rotating quarterly category, which typically covers common expenditures like Target, Amazon, restaurants and gas stations.
You'll need good to respectable credit to qualify for this card, which generally exploiting a minimum FICO score of 670. You're unlikely to get current with what's considered bad credit or fair credit. This card has no annual fee and subsidizes an introductory APR on purchases and balance transfers alike. You can choose your card design -- which is a rare option -- and plainly travel with this card thanks to no foreign transaction fees (like all Discover cards).
Read on to belief the welcome bonus, review the current and upcoming category rotations and spanking details about this card -- as well as some suggestions of competitive cards.
In this article
Discover it® Cash Back
Intro OfferIntro Offer: Unlimited Cashback Match - only from Discover. Discover will automatically match all the cash back you've earned at the end of your respectable year. There's no minimum spending or maximum rewards. You could turn $150 cash back into $300.
APR16.24% - 27.24% Variable APR
Intro Purchase APR0% for 15 months
Recommended Credit Good/Excellent
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly the majority when you activate.
- Earn 1% unlimited cash back on all spanking purchases – automatically.
Annual Fee$0
Intro Balance Transfer APR0% for 15 months
Balance Transfer APR16.24% - 27.24% Variable APR
Balance Transfer Fee 3% lead balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Late Payment Fee None the respectable time you pay late. After that, up to $41.
Foreign Transaction Fees None
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly the majority when you activate.
- Earn 1% unlimited cash back on all spanking purchases – automatically.
Rewards and rotating category
While you earn a plainly 1% cash back on all purchases with the Discover it® Cash Back, the real attraction is the 5% rotating category up to the quarterly the majority. The category changes on a quarterly basis -- each rotation lasts three months -- but you have to manually activate that quarter's category to earn rewards. You can do this as early as two months by the quarter starts through the very end of the quarter. However, you won't earn rewards retroactively if you wait pending after the quarter has begun, so it's best to activate the categories in advance.
Here are the categories for the rest of 2022. For each bonus category, you can only earn 5% cash back on the respectable applicable $1,500 spent each quarter. After that you'll earn the ghastly 1%.
April through June: 5% at gas stations and Target
July above September: 5% at restaurants and PayPal
October above December: 5% at Amazon.com and purchases made through a digital wallet (including Apple Pay, Google Pay, Samsung Pay, and Garmin Pay)
Given the high cost of gas prices and inflation affecting restaurant and grocery compensations, this card can help you plan spending throughout 2022 to maximize savings. Plus, it gives you two common online shopping methods to find 5% back on holiday shopping. Other cards typically don't tell you the rotating categories in approach -- many don't announce a quarter's bonus category pending about two weeks before the quarter begins.
Welcome bonus
The Unlimited Cashback Match welcome bonus is certainly one of the most compelling features of this cash-back card -- it's also a feature on all novel Discover cards. At the end of your first year as an clarify holder, Discover will match all the cash back you earned, dollar for dollar.
As an example, if you earned $500 bucks in cash back in your first year between the rotating categories and the flat 1% rate for novel purchases, Discover will post an additional $500 to your rewards clarify automatically at the end of your first year.
This can be really fruitful, because though your 5% earnings are limited by spending thresholds -- you can earn a greatest of $300 base cash back from the rotating bonus category per year -- the welcome bonus has no greatest threshold. So the 1% you earn on all novel purchases will continue to accrue a dollar-for-dollar match ended the first year. You'll just need a little patience to tranquil your earnings.
Intro APR on purchases and balance transfers
This card may be a good option for you if you're looking to finance a gargantuan purchase or make a balance transfer. You'll get 15 months of 0% introductory APR on both purchases and balance transfers, then 16.24% to 27.24% variable depending on your creditworthiness.
Most balance additional cards give you a 30 to 120 day window for the balance additional to post, but Discover designates specific dates by which your additional must post. Be sure to check the fine ticket when you are approved as the date changes ended the year. Typically, you want to allow at least two weeks of wiggle room for a balance additional to post to your account once initiated.
The balance additional fee also increases from 3% to 5% after the deadline for the promotional APR. The imperfect balance transfer fee across most credit cards is 3%, so if you're not planning to take obliging of the promotional offer, you'd probably be better off with a different card.
Choose your own design
As if the Discover it® Cash Back wasn't unique enough, this is one of the few cards on the market that scholarships you some options when it comes to your card's presentation. You can pick from more than 20 available designs. The designs range from cards of various solid colors, to real life images, to your initials.
Comparable cards
Citi Custom Cash℠ Card
The Citi Custom Cash℠ Card is comparable with a fluid 5% cash-back category -- you'll earn 5% on your highest eligible utilize category on up to $500 in purchases per billing cycle (then 1%). The spending threshold for this category is analogous to that of Discover's ($1,500) over the quarter. The Custom Cash makes earning rewards a bit simpler -- the 5% is automatically applied once each billing cycle, with no manual activation required.
Eligible categories concerned restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs and live entertainment. And you earn a comparable 1% on all novel purchases. You'll get a similar introductory APR as well -- but the welcome bonus takes a different form at $200 cash back when spending $1,500 on purchases within the first six months of opening your elaborate (fulfilled as 20,000 ThankYou Points, which can be redeemed for $200 cash back).
See our full appraisal of the Citi Custom Cash Card for more details.
US. Bank Cash+® Visa Signature® Card
The U.S. Bank Cash+® Visa Signature® Card has an even more flexible setup, though the eligible categories themselves are less broad than the typical "groceries" and "gas" categories. You'll earn 5% cash back on your first eligible $2,000 consumed in combined purchases over a quarter within your two categories of your pick. The 5% categories range from fast food to home utilities to movie theaters, so this card is a little more niche and may work better as a supplement to the Discover it® Cash Back card, pretty than a substitute.
But this drawback isn't completely lost on U.S. Bank: You'll also earn 2% cash back on your pick of an "everyday" category, which includes grocery stores, gas stations and EV charging stations, and restaurants. You'll earn 1% on all other eligible purchases. This card also offers an introductory APR and welcome bonus. You can earn $200 rewards after you spend $1,000 on eligible purchases within the suitable 120 days of account opening.
FAQs
How do cash-back credit cards work?
Cash-back credit cards funds cardholders rewards on their spending in the form of statement credits or cash. A statement credit is a censored in the amount due to the credit card business on your monthly bill. Note that rewards are not always available the month you earn them -- they are usually applied to your balance by credit card issuers when one or two billing cycles.
The redemption process for cash-back credit cards is either automatic or very simple. Some cards automatically apply cash rewards to your statement balance each month. Others require you to log in and redeem available rewards points for statement credits. Most points don't expire, but you will lose them if you stop the account before redeeming them.
What types of cash-back credit cards are there?
Cash-back credit cards generally fall into four vital categories: flat-rate, tiered, rotating or choose your own.
Flat-rate cards funds the same rate for every purchase. Tiered cards funds a different rewards rate for different categories of spending. Rotating category cards offer different rewards each quarter, certain by the card issuer. Choose-your-own category cards allow you to decide your rewards category.
How do you decide a cash-back credit card?
To choose the best cash-back credit card for you, the most critical thing is to have a clear idea of how you're already spending cash each month. Once you identify the categories where you have the highest, most consistent spending, use the charts in our list to decide which card will net you the highest return. Consider new features of the cards, too, such as APR, sign-on bonuses and foreign transaction fees -- make sure you get something that fits with your lifestyle and spending habits.
Your credit card pick may also be affected by your credit score. Most of the cards we recommend required a good or excellent credit score, which is typically nearby 670 or higher. If you don't meet the credit criteria obligatory, there are credit cards available that are specifically for those trying to rebuild credit, like secured credit cards.
Our approach
We review the cards that are in the highest expect and offer the best benefits. We scour the fine trace so there aren't any surprises when you open an define. We find the key factors that make a card irascible out and compare them with other top cards. That way, readers can opt for a different card with contrast features if our pick isn't right for them. Our reviews are regularly checked and updated to incorporate new recommendations, as well as to reflect changes in offers and the market.
*All request about the Discover it Cash Back has been smooth independently by and has not been reviewed by the issuer.
The editorial ecstatic on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or facilities offered by our partners.
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