Top perks
Earn up to 5% cash back
This card's headline feature is that cardholders can earn a 5% Cashback Bonus®, up to a quarterly maximum of $1,500, on everyday purchases in rotating categories each quarter like grocery stores, restaurants, and gas stations. Categories must be activated quarterly. Other purchases earn 1% cash back. Cardholders maxing out the quarterly spending categories in one year ($6,000 of total spending) would net $300 in cash back rewards.
Unlimited Cashback Match sign-up bonus
This is a credit card with a spectacular sign-up bonus. For new Discover it® Cash Back cardholders, Discover will match all the cash back you've earned at the end of your first year. And yes, this cash back match is unlimited. Note this sign-up bonus is only available during the first year and for new cardholders.
So, if you max out your earnings in the bonus categories ($300 of rewards) and have another $5,000 of spending outside bonus categories ($50 of rewards), you'd earn $700 of total cash back with the match.
LEARN MORE: How to Redeem Rewards on Discover Credit Cards
0% intro APR for purchases
This card blends the features of a rewards card and a 0% intro APR card, offering 15 months of 0% intro APR on purchases. The go-to 18.24% - 28.24% Variable APR applies after the 0% intro APR expires.
0% intro APR for balance transfers
The card also offers a 0% intro APR on balance transfers for 15 months. The go-to 18.24% - 28.24% Variable APR applies after the 0% intro APR expires. One nice feature is that the 0% intro APR kicks in on your first transfer before the deadline, not from the account opening, which gives you flexibility to use it on your own timeline.
No annual fee
The Discover it® Cash Back is a no annual fee credit card. You'd expect a credit card with such a deep bench of perks to charge an annual fee, but that's not the case here.
No foreign transaction fees
The Discover it® Cash Back has no foreign transaction fee. Many cards charge a 3% fee when making purchases internationally, which can add up to $60 of savings on $2,000 of foreign spend when traveling or purchasing products from vendors who operate abroad.
A growing list of places that accept the card
Discover is a newer credit card issuer, and if you've been alive since before Discover cards were created, you might wonder about Discover's acceptance both in the U.S. and abroad. Worry not -- Discover says that its cards are accepted by 99% of places that take credit cards. And if you're hoping to travel internationally with this card, you can check out Discover's international credit card acceptance page to verify that its cards can be used at your destination.
LEARN MORE: Best No Foreign Transaction Fee Credit Cards
Other benefits
Discover credit cards all pack in a lineup of secondary perks that are worth reviewing, including the following:
- Flexible cash back redemptions: Discover it® Cash Back offers redemption methods where you can redeem your rewards in amounts as little as $0.01. This makes it ideal for even smaller spenders, who might otherwise have to wait months to accrue enough rewards to top the $25 or $50 minimum redemption requirement of other rewards cards. Cash back can be redeemed many ways, including for statement credits, bank transfer, and gift cards.
- FICO® Score for free: Cardholders get access to a real FICO® Score for free to monitor their credit history. This is significant because most lenders consider your FICO® Score when you apply for credit -- being able to see yours before applying for loans or credit cards gives you a better snapshot of your finances.
- No penalty APR: If you happen to miss a payment, Discover won't increase your APR as a penalty.
- First late payment fee waiver: While it's not good to miss payments, particularly to maintain a good credit score, Discover will waive your first late payment fee.
READ MORE: A Complete Guide to Discover Credit Card Benefits