10 Incredible Benefits of the Discover It Card You Didn’t Know About

The Discover It Card is one of the most popular cashback credit cards in the market, known for its no annual fee, cashback rewards, and unique perks. Whether you're looking for a card with rotating 5% cashback categories or want to take advantage of no foreign transaction fees, this card has something to offer for everyone. Below, we’ll explore 10 incredible benefits of the Discover It Card that make it a top choice for savvy consumers in 2024.

1. Unlimited Cashback Match in Your First Year

One of the standout features of the Discover It Card is its Cashback Match program. Discover automatically matches all the cashback you've earned at the end of your first year. This means if you earn $200 in cashback during your first year, Discover will match it, giving you a total of $400 in rewards.

There’s no limit to how much cashback Discover will match, making this an incredible benefit for new cardholders. It’s essentially a 100% bonus on all the cashback you earn during the first year.

2. 5% Cashback in Rotating Categories

The Discover It Card offers 5% cashback on purchases in rotating quarterly categories when you activate the bonus. These categories change every three months and often include everyday spending areas like grocery stores, gas stations, restaurants, and online shopping.

For example, in the past, Discover’s rotating categories have included Amazon purchases during the holiday season, gas stations during the summer, and grocery stores in the first quarter of the year. You can earn 5% cashback on up to $1,500 in purchases each quarter, maximizing your rewards in specific spending categories.

3. 1% Cashback on All Other Purchases

Even when your purchases don’t fall into the 5% rotating categories, the Discover It Card still offers a solid 1% cashback on everything else. This flat rate applies to all purchases made with the card, meaning you’re constantly earning rewards, no matter where you shop.

Unlike other cards that limit cashback earnings, there’s no cap on how much 1% cashback you can earn, making it a great option for everyday purchases.

4. No Annual Fee

One of the biggest advantages of the Discover It Card is its no annual fee policy. Many credit cards charge annual fees ranging from $95 to $500, but with Discover It, you don’t have to worry about an extra cost just to keep the card active. This makes it an excellent choice for anyone looking to maximize rewards without paying extra fees.

5. No Foreign Transaction Fees

Unlike many cashback credit cards, the Discover It Card charges no foreign transaction fees. This is a major benefit for travelers who frequently make purchases abroad. Typically, foreign transaction fees can range from 2-3% of the purchase amount, but with Discover, you can shop internationally without incurring extra charges.

Whether you're planning an overseas vacation or shopping on international websites, the lack of foreign transaction fees can save you a lot of money.

6. Introductory 0% APR for Purchases and Balance Transfers

For new cardholders, the Discover It Card offers an introductory 0% APR on purchases and balance transfers for the first 15 months. This is a fantastic perk if you need to make a large purchase or transfer high-interest balances from another card.

After the 0% introductory period ends, the regular variable APR will apply, but the 15-month 0% APR window is a valuable feature for those looking to manage their finances more efficiently.

Note: Balance transfers do come with a 3% fee, so keep this in mind when using this feature.

7. Free Credit Score Monitoring with FICO Score

Discover provides all cardholders with free access to their FICO credit score. This feature is available through your online account or the mobile app and is updated regularly. Monitoring your credit score can help you track your financial health and catch any potential issues like identity theft or unexpected credit changes early.

This benefit is particularly useful if you're trying to improve your credit score or maintain excellent credit for future financial opportunities.

8. Flexible Cashback Redemption Options

The Discover It Card offers flexible redemption options for your cashback rewards. You can choose to redeem your cashback in several ways:

• Direct deposit into your bank account.
• Statement credit to reduce your balance.
• Gift cards from a wide range of retailers (often with bonus value).
• Charitable donations to select organizations.

There’s no minimum amount required to redeem your cashback, so you can access your rewards whenever it suits you. Additionally, your cashback never expires, meaning you can let it accumulate over time if you prefer.

9. U.S.-Based Customer Service

Discover prides itself on offering 100% U.S.-based customer service, which is available 24/7. This is a major selling point for cardholders who want reliable and friendly service in case of issues like lost cards, fraud alerts, or billing questions.

Many credit card companies outsource their customer service departments, but Discover ensures you can speak with someone based in the U.S., providing peace of mind and excellent support.

10. Security Features and Protection

The Discover It Card comes with robust security features that help protect you from fraud and unauthorized charges. Here are a few of the key protections:

• Freeze it® on/off switch: If you lose your card or suspect fraudulent activity, you can instantly freeze your account via the mobile app or website, preventing any new purchases.
• Zero liability protection: You won’t be held responsible for unauthorized purchases made with your card.
• Alerts for unusual activity: Discover will notify you of any suspicious transactions on your account, helping to catch fraud early.
• Free Social Security number alerts: Discover will monitor dark web activity and alert you if your Social Security number is found, adding another layer of protection.

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Frequently Asked Questions About the Discover It Card

Q: What credit score do I need to apply for the Discover It Card?
A: The Discover It Card typically requires good to excellent credit, meaning a FICO score of 670 or higher. However, your creditworthiness depends on several factors, including your income and debt-to-income ratio.

Q: How do the 5% cashback categories work?
A: Every quarter, Discover announces new rotating categories where you can earn 5% cashback. You need to activate the bonus by logging into your account or using the mobile app, and you can earn 5% cashback on up to $1,500 in purchases within those categories.

Q: Is there a limit on cashback rewards?
A: There is no limit on how much 1% cashback you can earn on all other purchases. The 5% cashback on rotating categories is limited to $1,500 in purchases per quarter, after which you’ll earn 1%.

Q: How do I redeem my cashback rewards?
A: You can redeem your rewards for cashback, statement credits, gift cards, or donations. There’s no minimum redemption amount, and your rewards never expire.

Q: Are there any fees associated with the Discover It Card?
A: The Discover It Card has no annual fee and no foreign transaction fees. However, there is a 3% balance transfer fee during the 0% APR promotional period and up to 5% after that.

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Conclusion

The Discover It Card is a fantastic option for anyone looking to maximize cashback rewards without the burden of an annual fee. With benefits like the Cashback Match in your first year, 5% rotating categories, no foreign transaction fees, and a 0% APR introductory offer, this card offers incredible value. Whether you’re a frequent traveler, an everyday spender, or someone looking to manage your finances more effectively, the Discover It Card has you covered.