If you love rewards credit cards but are disillusioned by the traditional 1% rewards rate, the Discover it® - Cashback Match™ may be for you. It offers 5% rewards on quarterly bonus categories, very few fees and a 0% introductory APR period.
Discover it® - Cashback Match™: Enjoy high rewards and online discounts
The Discover it® - Cashback Match™ boasts 5% cash back rewards on rotating quarterly categories, and 1% back on everything else. Plus, it offers a bonus for new cardholders: Discover will match ALL the cash back earned at the end of your first year, automatically.
Here are the current bonus categories, but keep in mind, the 5% is only applicable on the first $1,500 in category spending per quarter:
|Discover bonus categories for late 2017 and 2018|
|Q4 2017 (Oct. 1 – Dec. 31)||Amazon.com and Target|
|Q1 2018 (Jan. 1 – March 31)||Gas stations and wholesale clubs|
|Q2 2018 (April 1 – June 30)||Grocery stores|
|Q3 2018 (July 1 – Sept. 30)||Restaurants|
|Q4 2018 (Oct. 1 – Dec. 31)||Amazon.com and wholesale clubs|
Rewards are redeemable for direct deposit, statement credit or gift cards. You can also use your rewards to pay for Amazon purchases through the Shop With Points program.
The Discover it® - Cashback Match™ is a great credit card for online shopping fanatics. Not only does the card historically offer 5% back on online shopping during the holiday season, it also boasts the best rewards mall in the industry, Discover Deals. With Discover Deals, you’ll receive discounts of 5-20% at your favorite online retailers. You can also download the mobile app to take advantage of those discounts in-store.
Choose your own adventure: Two versions to pick from
There are multiple versions of the Discover it® - Cashback Match™, but we’re going to focus on the two most popular versions. The Discover it® - Cashback Match™ offers an introductory rate of 0% on Purchases and Balance Transfers for 14 months, and then the ongoing APR of 13.24% - 24.24% Variable APR. The Discover it® - 18 Month Balance Transfer Offer offers an introductory rate of 0% on Purchases for 6 months and 0% on Balance Transfers for 18 months, and then the ongoing APR of 13.24% - 24.24% Variable APR. If you’re primarily using the card for balance transfers and need more time to pay it off, you’ll want to choose the second card.
Need more reasons to get the Discover it® - Cashback Match™? Check out the extra perks.
The Discover it® - Cashback Match™ boasts no foreign transaction fees, no over-the-limit fees and no penalty rates. Cardmembers will have the fee waived on their first late payment. You’ll also get free access to your FICO score on your monthly statement, online and in the mobile app.
The takeaway: If you spend in line with the 5% bonus categories and frequently shop online, you’ll love the Discover it® - Cashback Match™. Its high rewards rate, lack of most fees, free FICO score and long introductory APR make it a great card to have in your wallet.
Online shoppers image via Shutterstock