Discover It credit card is very popular among consumers who want to have the chance of earning cash back when they spend money with their credit cards. The main benefit of using the Discover It card is that it is offering up to 5% cash back bonus on quarterly categories. The quarterly categories will rotate from time to time. For example, you can earn 5% cash back on Amazon purchases in between the period of October to December.
If you make a purchase outside of the quarterly categories, you will get to earn 1% cash back bonus. The 1% cash back bonus will apply is an unlimited cash back bonus which means that you still earn the cash back even after your spending exceed $1,500.
Discover It will also double the amount of cash back you earn during the first 12 months. For example, if you earn $150 in the first 12 months, you will get $150 credited into your account in the next year. You will get the exact amount of cash back depending on how much money you have spent on the card.
The best thing about Discover It is that it does not charge any annual fee. However, if you want to use the card for balance transfer, you have to pay 3% of the transferred amount. You won’t get charged with any late payment fee if you miss payment for the first time. But, if you miss payment for the second time, you will b charged with a $35 fee. It also does not have any foreign transaction fee so you don’t have to pay extra if you use the card to do your shopping when traveling overseas.
You can earn a cash back bonus of between 15% – 20% if you use your Discover It card to shop at the ShopDiscover online shopping portal. There are more than 200 online retailers listed at the ShopDiscover portal. Some of the popular online retailers at ShopDiscover are Walmart. There are plenty of travel deals in this portal that you can sign up to get qualified for cash back rewards.
You have the option of redeeming the cash back rewards by exchanging with cash or use your points to exchange for a partner gift card. If you choose to redeem the partner gift card, you may be able to double the amount of cash back rewards that you receive. The partner gift card is eligible to be used at a variety of online retailers such as Macy’s. If you want, you can donate the cash back rewards you earn to a charity
Discover It card’s rewards program has loose requirements compared to other cards. For example, the minimum redemption requirement for the partner gift card is $20. There is no minimum amount requirement if you use your cash back rewards points to redeem a statement credit.