Both cash back cards can be lucrative, but if you're only looking for one, the Discover it® Cash Back packs a heftier punch.
Discover it® Chrome vs. Discover it® Cash Back annual fee
Neither card charges an annual fee, nor do they have foreign transaction fees. They also share a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
Winner: Tie
Discover it® Chrome vs. Discover it® Cash Back welcome offer
Discover's cashback match is available on both credit cards. This bonus matches all the cash back you earn within your card's first year. While the Discover it® Cash Back arguably gives you more opportunities to max out this bonus, it's good to know the Discover it® Chrome has it too, in case you want a standard gas and dining card to max out those categories.
Winner: Tie
Discover it® Chrome vs. Discover it® Cash Back intro APR
The Discover it® Chrome has a longer intro APR period for balance transfers: 18 months versus the 15 months on the Discover it® Cash Back card. However, the Discover it® Cash Back has a longer intro APR period for new purchases: 15 months versus just 6 months on the Discover it® Chrome. After this introductory period, both cards revert to a standard 18.24% - 28.24% Variable APR.
Clearly, the intro APRs are designed for people in different circumstances. Cardholders who want to transfer a balance to pay down debt would benefit from the longer period on the Discover it® Chrome, while those who want zero interest financing for new purchases will benefit from the Discover it® Cash Back card. Those who want both are likely going to benefit from the Discover it® Cash Back card. Because the Discover it® Cash Back card offers long periods of both intro APRs, it'll take the cake for this segment, but it's a close matchup.
Winner: Discover it® Cash Back
Discover it® Chrome vs. Discover it® Cash Back rewards
This is when the Discover it® Cash Back card takes the lead. Its rotating, quarterly 5% bonus categories (activation required; $1,500 quarterly spending cap) makes this one of the most lucrative cash back cards you can find. Categories for 2024 so far have included restaurants and drug stores for Q1 and gas stations, electric vehicle charging stations, home improvement stores, and public transit for Q2. If you can max out these categories for your card's first year, you would walk away with at least $600 in total cash back earned ($300 on your spending and $300 from Discover's cashback match).
In contrast, the Discover it® Chrome card earns 2% back on gas and restaurants for up to $1,000 in quarterly spending. Even with Discover's cashback match, this card's value is severely limited by that $1,000 quarterly cap. If you don't want to fiddle with rotating categories, this card's no-frills cash back rate might be more convenient. But for more potential, look no further than the Discover it® Cash Back.
Winner: Discover it® Cash Back