Last year, Discover launched the Discover it ® credit card in order to simplify its product offerings for consumers. Since then, the Discover it ® products have become some of the most popular credit cards on the market.
- Earn a cash-back bonus on every purchase. Cardholders can earn 5 percent cash back on up to $1,500 in Restaurant and Movie purchases from January through March 2014, and 1% cash back on all other purchases* throughout the year.
- No fees. With the Discover it®, cardholders are not subject to any annual fees, over-limit fees, foreign transaction fees or pay-by-phone fees. Discover also will not increase your APR after your first late payment.
- Cashback Concierge. The card offers a feature called the Cashback Concierge, which guides free, customized online tours to help cardholders get the most rewards out of their cards.
- Low introductory APR period on balance transfers. 0% Intro APR* on balance transfers for 18 months. Then the variable purchase APR applies, currently 10.99% – 22.99%. A fee of 3% applies for each balance transferred.
- 24/7 domestic customer support. Discover offers 24/7 U.S.-based customer service to all Discover it cardholders.
- Flexible. The Discover it® offers cardholders the ability to choose their own payment due date for their card, and allows them until midnight on the day of their due date to make the payment.
- Safe. Cardholders can rest easy knowing they have a $0 fraud liability guarantee through Discover that ensures they will never have to pay for unauthorized purchases.
- Limits on cash-back bonuses. While the card offers 5 percent cash back on certain rotating categories, the amount you can earn 5 percent cash back on is limited to $1,500 per quarter.
- Discover isn’t accepted everywhere. Discover is known for its great credit card rewards, but the downside is that Discover cards are not accepted at nearly as many places as Visa or MasterCard. Nowadays, the card is accepted at many more retailers than it used to be, but outside of the United States it still sees limited acceptance.
Get it if: You have excellent credit and don’t plan on carrying a balance. It’s one of the best cash-back credit cards on the market.
Forget it if: You have less than excellent credit, or carry a balance.
*Click “Apply” to see rates, rewards, and free FICO® Credit Score terms and other information.
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