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Discover has upped its game with “Double Cash Back” for the first 12 months on their cash back Discover it® Card. This latest opportunity gives cardholders the chance to double all of the cash back they receive during the first twelve months of having the card. Who can complain about that?
Let's take a look at how this works when you factor in the rotating categories and other bonuses already offered by Discover.
Big Cash Back Potential
With the Discover it card, cardholders already enjoy high cash back earning potential. Receive a steady 1% on all purchases, with a bonus of 5% on rotating categories that change on a quarterly basis. The rotating categories reflect some of the most popular spending categories including groceries, gas, restaurants, home improvement, and more.
On top of these great rates, cardholders can receive up to 20% bonuses on purchases made through the Discover shopping portal.
While these are already good cash back opportunities, the latest offer from Discover doubles all cash back that is received during the first twelve months of having the card. This double cashback offer is only good for new customers. But, this translates into 2% on everyday purchases, 10% on rotating categories, and up to 40% on purchases made through the Discover portal. This adds up to huge savings, especially the large ones.
Extra Rewards When You Redeem
Certain redemptions will qualify cardholders for additional bonuses. When you redeem your cash back by opting for gift cards for certain retailers, such as Staples, you can get an additional 20-25% cash back. This allows you to get a $25 gift card by redeeming only $20 of your cash back. Another great way to add up the savings.
When you do a little research regarding the rotating categories and portal opportunities, you can really maximize your cash back rewards.
Direct Buy From Amazon
If you prefer, you can even use the cash back rewards to make purchases directly from Amazon. When shopping on amazon.com, just select the option to use rewards when you are at the checkout. Your purchases will then be paid for by using your cash back rewards, without ever having to redeem them directly.
Discover it has long been known to be a credit card that offers top notch customer service and great perks for cardholders. Enjoy excellent customer service, 24 hours a day, 7 days a week, anytime you need assistance.
Discover carefully protects your personal information and monitors your card for any potentially fraudulent use. You are not held responsible in the case of fraudulent purchases when you promptly report them. Discover also provides cardholders with their credit score each month, right on their statement or plainly visible on their online account page. This helps you keep careful tabs on your credit score, and make adjustments before there are any problems.
UPDATE: At the end of February 2018, Discover cards will lose some of their card benefits. Cardholders will no longer be entitled to Extended Product Warranty, Return Guarantee, Purchase Protection, Auto Rental Insurance and Flight Accident Insurance on any of Discover's rewards cards.
No Annual Fees!
Having no annual fees makes the Discover it card very attractive to those looking for a cash back opportunity without having to make any investment in annual fees.
There is a 0% Intro APR on purchases for 14 months and a 0% Intro APR on balance transfers for 14 months. Then 13.99% - 24.99% Standard Variable Purchase APR applies on purchases and balance transfers, which means you can receive tons of cash back and not have to pay a penny of interest for more than a year.
The Discover it card is a very strong offering when compared with other cash back credit cards. When you pay attention to the rotating categories and shopping portal deals, you can get a huge boost in the cash back you receive, making your first year with the Discover it card a very rewarding one. With this card, you can enjoy the huge cash back rewards, no annual fee, and double cash back!
Any downsides? Well, there is no signup bonus for this card, which is something many cash back cards offer. For example, the Chase Freedom® card, which also has rotating 5% cash back categories and no annual fee, offers a bonus of $150 cash back after spending $500 on purchases in your first 3 months from account opening.. That said, you can't get double points with the Freedom Card. At least not yet! We can dream, right?
Each card has it's own unique benefits, so take time to compare and carefully consider what cash back card makes the most sense for you.
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