This Card Pays up to 5% Back -- and Comes With 0% APR for 15 Months
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KEY POINTS
- The Discover it® Cash Back card pays up to 5% cash back on rotating categories, up to the quarterly limit.
- You have to activate your rewards every quarter, but the payoff is worth it.
- The card also has a $0 annual fee and offers 0% intro APR for 15 months, making it a great balance transfer card.
Credit cards that pay 5% back on your everyday spending are hard to come by. But the Discover it® Cash Back card (see rates and fees) offers that and more -- if you put in just a little effort.
This card pays up to 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate.
The Discover it® Cash Back card also offers a 0% intro APR for 15 months on purchases and balance transfers, as well as a unique bonus that could be worth hundreds of dollars in your first year.
Let's break down the perks of this card to help you decide if you should apply.
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= Fair = PoorGood/Excellent (670-850)
Intro APR
Purchases: 0%, 15 months
Balance Transfers: 0%, 15 months
Regular APR
18.24% - 27.24% Variable APR
Rewards Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
1% - 5% Cashback
Annual Fee
$0
Welcome Offer INTRO OFFER: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
Discover will match all the cash back you’ve earned at the end of your first year.
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We think this card has among the highest cash back potential for cards with no annual fee. The key is the Unlimited Cashback Match — Discover automatically matches all the cash back new cardholders have earned at the end of the first year. That cash back can seriously add up when you earn 5% cash back on rotating bonus categories (when you activate them, up to the quarterly maximum) and 1% on other purchases.
Read Full Review -
- Rotating bonus categories
- Welcome bonus offer
- Great intro APR offer
- No annual fee
- No foreign transaction fee
- No fixed bonus categories
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- INTRO OFFER: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
- Earn 5% Cashback Bonus® at Grocery Stores and Wholesale Clubs, April 1 through June 30, 2025, on up to $1,500 in purchases, when you activate. Plus, earn unlimited 1% cash back on all other purchases.
- Redeem your rewards for cash at any time.
- Apply and you could get a decision in as little as 60 seconds. No annual fee.
- Start shopping and earning rewards in minutes with your digital card, before your physical card arrives in the mail, if eligible.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. Activate by mobile app for free.
- Get a 0% intro APR for 15 months on purchases. Then 18.24% to 27.24% Standard Variable Purchase APR applies, based on credit worthiness.
- Terms and conditions apply.
1. 5% cash back categories
The Discover it® Cash Back card has rotating bonus categories that earn 5% cash back on your first $1,500 in spending each quarter. All you have to do is activate them through your online account or the mobile app.
The current bonus categories are grocery stores and wholesale clubs. Past categories have included purchases at Walmart, Amazon, restaurants, and gas stations.
In other words, no matter what the bonus categories are, there's a good chance you spend money on them. If you were to max out your 5% cash back rewards every quarter, you'd get $300 back per year.
Then, all other purchases earn 1% cash back, so you still earn rewards if you go over the $1,500 quarterly cap or make purchases outside the bonus categories.
2. First-year Cashback Match
This is a unique 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. That means double the cash rewards, with no limit.
Say you earn $300 through the rotating 5% back categories, plus another $100 on purchases earning 1%, in year one. Discover will give you an extra $400.
This bonus is valuable if you make the most of it. By comparison, other cash back cards typically offer sign-up bonuses of $200 to $250 -- and those come with minimum spending requirements.
Intrigued by the idea of a large sign-up bonus? Check out our list of the best credit card sign-up bonuses to find one that's a fit for your spending and lifestyle.
3. 0% APR for 15 months
The Discover it® Cash Back card offers a 0% intro APR on purchases made within 15 months of account opening. So if you're looking to make a big purchase and pay it off over time, you could save a bundle.
New cardholders will also enjoy a 0% intro APR for 15 months. There is a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. So if you need some help paying off existing debt, you may be able to transfer it to a Discover it® Cash Back card and pay no interest for 15 months.
Be careful, though: Any outstanding balance will be charged the standard rate (18.24% - 27.24% Variable APR) when the intro period ends. You'll want to make a plan to pay off your full balance before using a balance transfer card.
You almost can't lose
The Discover it® Cash Back card has a $0 annual fee, so the only way you won't make money is by A) not using it at all or B) paying interest on unpaid balances.
Sure, you need to click or tap a few buttons every few months to earn the maximum rewards. But that's a small price to pay for a generous 5% cash back.
Ready to start earning big rewards for everyday spending? Click here to apply for the Discover it® Cash Back card now (see rates and fees).
Our Research Expert
Managing editor for Motley Fool Money. James has worked full-time for The Motley Fool since 2012. A longtime editor and former reporter, James oversees the production and quality of Motley Fool Money's editorial content.
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