The Discover it® Cash Back credit card is very impressive for those who intend to earn high cash back on their day to day purchases. This credit card does not charge its client an annual fee and has an ideal cashback bonus thus getting a lot of praises. However, cardholders are also given what can be described as reward in the form of cash back, industry leading security and excellent customer service.

In this particular respect, the Discover it® Cash Back credit card stands at a pretty high rating of 4. Consolidating the satisfaction level of the users, it has been rated 7 out of 5 stars in 33,798 reviews. Now let me provide you with insight into which aspect of this card makes it favorable in the world full of credit cards.

Key information about the Discover it Cash Back

Discover it® Cash Back card has many advantages as this credit card allows to earn 5% cash back on all the purchases in some establishments of the specified categories every quarter increasing up to the maximum of the quarter’s spendings when membership is registered. The Cashback Match make is also a bonus to cardholders whereby Discover doubles the cashback gotten by the cardholder in the initial year.

How does the annual fee work?

Still, more convenient is the Discover it® Cash Back credit card, though it has a pretty popular feature of no annual fee. That is no yearly fee has to be paid despite the fact that the holder of the card is enjoying all the benefits that the card offers. Following, the fact that there is no annual fee for this card make it even more appealing to such people that are keen on avoiding unnecessary costs and therefore the benefits accrued.

How is the credit limit determined?

This credit limit for Discover it® Cash Back credit card depends with the cardholder’s credit score when applying for the card. This include issues such as credit ratings, earnings, and outstanding balances already availed for similar objectives. This means Discover reviews every application separately in order to give out a credit limit, relative to the card holder status.

Credit card benefits 

• 5% cashback on everyday purchases: Earn 5% cashback on everyday purchases at different places each quarter, such as grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when activated.
• First year cashback match: At the end of the first year, Discover matches all the cashback you’ve earned, effectively doubling your cashback rewards during that period.
• No annual fee: Enjoy all the benefits and rewards of the card without paying any annual fee.
• $0 fraud liability: You are not responsible for unauthorized purchases made with your Discover card.
• Online privacy protection: Helps regularly remove your personal information from select people-search websites that could sell your data.
• Social security number alerts: Receive an alert if your Social Security Number is found on any of thousands of Dark Web sites.

Cashback match

In many ways, Discover does not shy away from innovation in the card services particularly through the Discover it® Cash Back Credit Card that prominently has the Cashback Match program. Finally, based on the number of cashback earned, Discover doubles the total amount at the end of the first year.

What this implies is that if you have earned $200 in cashback, then Discover doubles the amount by giving you $200 more, bringing the total cashback to $400. Just in this aspect, the feature alone adds so much more value to the card that anyone looking to benefit from a cashback worth will find it relevant to try out.

Disadvantages

• Variable APR: After the introductory period, the APR ranges from 18.24% to 28.24% based on your creditworthiness.
• Balance transfer fee: While there is a 0% intro APR for 15 months on balance transfers, a 3% fee applies to balances transferred by a certain date, and up to 5% fee for future transfers.
• Cash advance fee: The cash advance fee is either $10 or 5% of the amount, whichever is greater.

High variable APR

Primarily, the decently high Variable APR with the max of 28%. This is a disadvantage of the Discover it® Cash Back Credit Card where it offers a cash back percentage of 24%. If consumers are able to revolve their balance every month, this high interest rate comes with steep costs which may offset the value of the get-one-percent cash back rewards. Consequently, the best type of consumer to possess this card is one who will always make monthly minimum payment or preferably clear his or her balance.

Who can apply for this card?

It is worth to mention that to apply for the Discover it® Cash Back one must be at least 18 and provide the valid SSN for identification purposes. As for creditworthiness, there is no disclosure of the minimum requirement of income, though income, credit history factors will be taken into consideration.

It is typically targeted at consumers with stable and good to excellent credit scores; however, the card has a special feature that enables potential customers to determine their approval without affecting their credit scores’ status.

How to apply for the Discover it Cash Back

By visiting the Website

Getting issued with the Discover it® Cash Back card can be initiated using the internet, and this involves following the link to the Discover homepage and scrolling down to the cards’ category. Here, you click on the Discover it® Cash Back card and then on the grey “Apply Now” button which opens the application form.

The basic details you will enter in the registration process are your first name, last name, address, date of birth, and SSN for authentication. Also, employment details and annual income fields are needed to evaluate your credit managing capacity.

Once you fill all the fields, you then have to read the terms and conditions on the card, details concerning the APR, fees and the rewards program. It is necessary to pay attention to the wording of these terms in order not to be left in complete ignorance of one’s obligations.

If this is the case, you can apply for one and once you do this, Discover conducts a very strict credit check. This process draws a hard inquiry on your credit report which may pull down your credit rating in the process. The decision usually takes a few minutes and, if granted, you get your card in 7-10 business days.

Once you get your card, you can activate it and create your online account and the Discover mobile application. With this app, you can not only monitor the balance on your account, your rewards and the active Freeze it® on/off button. This approach guarantees you will maximize the use of your Discover it® Cash Back card benefits and features hence, efficient financial management.

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