Discover it® Cash Back Review (2024)

Here's why they use it:

• You’ll earn up to 5% cash backon rotating activated categories you'll actually use on up to $1,500 in purchases each quarter.
• Discover will automatically match all the cash back new cardholders have earned at the end of the first year. Even the purchases you earn 5% cash back on will get an unlimited match.
• These perks combine to give the card the highest cash back potential we've seen.
• On top of that, you'll pay 0% interest until 2025 on both purchases and balance transfers -- that's 15 months of a 0% intro APR. The go-to rate of 17.24% - 28.24% Variable APR applies after the intro period.
• No annual fee
• Click APPLY NOW to apply today

So what can this actually add up to in the real world? We calculate that cardholders can secure $1,306 alone from the first-year bonus and premium cash back. (See how below.) Not a bad return on investments for the 2-minute application process!

One thing we should note: it’s not uncommon to see credit card companies adjust the benefits on cards over time. While we don’t know if that’ll happen here, if you’re interested in the card we do recommend using this link to apply today to make sure you don’t miss out on all of this card’s perks.

0% intro APR for 15 months for purchases -- on top of the high cash back rate, this card also features a very competitive 0% intro APR offer. This can be a smart way to finance larger purchases, or simply if you find yourself in a temporary bind and want to avoid interest until 2025.

0% intro APR for balance transfers -- The same length 0% intro APR for 15 months applies for balance transfers. If you have credit card debt, you can transfer it to this card to avoid interest charges for well over a year on that transferred balance. Plus, you could use the cash back you earn from the card to help pay off any previous debt. Remember, the go-to rate of 17.24% - 28.24% Variable APR applies after each intro period.

Earn up to 5% cash back -- Cardholders earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, up to the quarterly maximum of $1,500 on purchases and when you activate. Category activation is easy: Discover will send you an email before each quarter, and then you simply activate with one click. All other purchases earn 1% cash back.

Unlimited Cashback Match sign-up bonus -- This is our favorite perk of the card, and one that is unique and highly valuable. Discover will automatically match all the cash back you’ve earned at the end of your first year for new cardholders, which can help lead to a truly incredible amount of cash back in your pocket.

$0 annual fee -- Credit cards packed with valuable features tend to charge a high annual fee, but not this card.

You'll be hard-pressed to find a no-annual-fee cash-back card that offers as much value as this card. That's because of the combination of the card's lucrative 5% cash rewards program, cash back match in the first year, a long list of secondary perks, and cutting fees. Here's how the value adds up:

• Earn $600 in bonus categories — You can receive $600 cash back in the first year by maxing out 5% categories. Many cardholders won't have a problem maxing out the $1,500 spending cap each quarter for 5% categories you activate. You'll earn $300 in this case, plus $300 from Discover for your cash back match in the first year.
• You can also earn $706 cash back in the first year in 1% categories — The average American budget* would result in earning $353.45 cash back each year in 1% categories, and remember that Discover will match this amount in the first year for a total amount of $706.

These categories alone tally up to $1,306 worth of value. Keep in mind that the value for many cardholders could be far higher, given the card doesn't include an annual fee, doesn't charge a foreign transaction fee, and you can avoid interest charges for 15 months on purchases and balance transfers.

Simply put, Discover it® Cash Back is among the best cash-back cards we've come across.

Depending on what card is in your wallet today, there’s a high chance the Discover it® Cash Back card is a more lucrative upgrade -- and it could especially be an upgrade over debit cards, which have far worse fraud protections than credit cards and usually no rewards.

This card is a fantastic option for those looking for truly elite cash back potential or for a lengthy intro period of 0% interest (or both!). The fact that you get all of this for no annual fee makes the card a no-brainer for many consumers, in our opinion. These are all reasons why this card earned a spot in our experts' wallets, and why they use it regularly.