Is the Discover It Cash Back Card Worth It?

The main goal of the Discover It cash back card is to give you as much back as possible. In fact, you can get anywhere from 1% to 5% cash back on your purchases. Discover does it a little differently, though. Most people will agree that 5% is a high enough cash back percentage for regular purchases, but in order to get the 5%, customers will have to buy from bonus categories, and you’ll also have a quarterly maximum. So instead of one bonus after a year’s end, you can earn up to $75 every 3 months from the $1,500 cash back maximum quarterly. That’s kind of a nice twist for an average cash back card.

In addition to that, if you’re a new cardmember, Discover will double your cash back by the end of your first year. However, this only happens during the first year, so don’t expect it afterwards. Still, it’s a nice perk, especially if you take advantage of it as soon as you get your credit card. The Discover It also falls in the category of cash back cards that don’t have an annual fee. It’s surely one of the best things about owning this card; you don’t have to worry about paying any fees even if you don’t use the card as often as you expected to.

Other details for this card include the 1% cash back on all purchases automatically. Your rewards will never expire, and you can redeem any cash back amount you might need to anytime you want. This means that you can roll over your cash back rewards to accumulate the money for larger purchases. That’s certainly a benefit that not a lot of cash back cards can boast of. If you happen to be an avid Amazon shopper, you can even use your rewards at checkout.

To understand the 5% bonus cash back further, you’ll just have to follow along with a quarterly calendar. The months of the year are divided into four, 3-month groups, and each quarter will earn you the rewards depending on how much you shop that quarter for that specific category. From January to March, you can earn 5% bonus cash back by using your credit card at gas and wholesale clubs. From April to June, you can earn the 5% back by swiping at any and all grocery stores. You can earn the 5% cash back from July to September every time you use your Discover It card at restaurants. And lastly, when you use your card on Amazon.com and wholesale clubs from October to December, you’ll be getting the 5% bonus cash back reward on your credit card. Of course, the limit of $1,500 applies to every quarter.

Looking at the maximum possible returns you can get with the Discover It card, it is already a better cash back card when compared to others in its category. Given that you can have an annual maximum reward limit of up to $6k each year ($1.5k multiplied by the 4 quarters of every year), you can easily have annual savings of up to $300 just on your bonus cash back alone. The 1% cash back may not be much in comparison, but at least you’re still getting something in return even if you’re not spending in the quarterly category for the 5% bonus.

All in all, the Discover It cash back card is absolutely worth it if you’re going to be proactive in your spending. Not many people may want to keep track of quarterly categories and goals, but it really isn’t much work if you think about it, especially if you’re in the business of saving money. When put side by side to other cards with comparable seasonal bonus categories, the Discover It card is as attractive as they get. The Discover It card may earn you just slightly less in rewards, but you really can’t go wrong with a $0 annual fee versus the $95 that the Blue Cash Preferred from American Express will take from you annually. There are other credit cards with $0 annual fees, and if you’re worried about having the Discover logo instead of the more widely accepted VISA or Mastercard, then you should probably opt for the Capital One Quicksilver or the Chase Freedom credit cards. Otherwise, the Discover It has just the right things going for it to be worth having in your wallet.


Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Digital Marketing
6 Tips to Expand Your Digital Marketing Team
jeffrey s. musser CEO of expeditors international
10 Things You Didn’t Know about Expeditors International CEO Jeffrey S. Musser
Fox News Anchor Bret Baier
How Bret Baier Achieved a Net Worth of $16 Million
rapper busta rhymes reading speech
How Busta Rhymes Achieved a Net Worth of $65 Million
Philip Morris International
Why Philip Morris nternational is a Solid Dividend Stock for the Next 20 Years
10 Benefits of Using Amex Platinum with Car Rentals
NextEra Energy Partners
Why NextEra Energy Partners Is a Dividend Investor’s Dream
Chase United Mileage Explorer
20 Benefits of the Chase United Explorer Credit Card
Drone Technology: The Ups and Downs of a New Application
Flying Car Concept
How Close Are We to Flying Cars?
machine translation
How Close are We To Getting Machine Translation Perfected?
Flexible Electronics Technology
The Future is Bright for Flexible Electronics
Ritz Carlton Ft. Lauderdale
10 Reasons to Stay at The Ritz-Carlton Fort Lauderdale
Del Marcos Hotel: A Mid-Century Modern Icon in Palm Springs
Why Uncle Jack’s Is One of NYC’s Finest Steakhouses
10 Reasons You Should Visit Socrates Sculpture Park in NY
1966 Ferrari 365 P
A Closer Look at the 1966 Ferrari 365 P Berlinetta Speciale Tre Posti 8971
1964 Ferrari 275 GTB-C Speciale
A Closer Look at the 1964 Ferrari 275 GTB-C Speciale
1961 Ferrari 250 GT LWB California Spider
A Closer Look at the $18.5 Million 1961 Ferrari 250 GT LWB California Spider
1954 Ferrari 375-Plus
A Closer Look at the $18.3 Million 1954 Ferrari 375-Plus
A Closer Look at the $4.6 Million Louis Moinet Meteoris
A Closer Look at the $4 Million Patek Philippe Platinum World Time
A Closer Look at the $3.3 Million Piaget Emperador Temple
A Closer Look at The Patek Philippe 1953 Heures Universelles Ref 2523