Today I will be discussing the Discover it credit card. It is very
similar to the Chase Freedom credit
card (review here) as it offers 5% cash back rate on certain items and 1% cash back on all
other items. These 5% cash back eligible categories also change every three
months.
This is easier to explain by
looking at Discover’s cashback bonus schedule below:
For example, we are currently in the
fourth quarter (October – December) on the rewards schedule meaning we would be
eligible 5% cash back for purchases made at Target and at department stores,
especially useful with the upcoming holiday season. However, there is a $1,500
maximum limit in combined purchases allowed meaning the maximum amount you
could get 5% cash back for is $75 per quarter. All purchases not covered by the
rewards categories or that exceed the maximum limit receive 1% cash back.
Additionally, Discover currently
offers a $50 sign up bonus after your first purchase within the first 3 months
of initializing the card. Also, they offer an unlimited dollar-for-dollar match
of all the cash back you've earned at the end of your first year, automatically.
And unlike many other rewards credit cards, this card has no annual fee
(meaning you do not have to pay to use their credit card). Your rewards do not
expire while the account is active and there is no minimum to redeem for cash
back.
For those that do not want to deal
with points, the 5% cash back offered is one of the best rewards out there
especially with no annual fee and the unlimited dollar-for-dollar, year-end
match.
For more details and to apply,
please visit:
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