Discover it® Credit Card Review for 2015

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Discover it®

Card Review: Discover it Card
CardSight Rating: 5.0/5.0 stars ★★★★★

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Intro APR Intro Balance Transfer APR Regular APR Annual Fee Balance Transfers Credit Needed
0% on purchases for 6 Mo.* 0% for 18 months* 10.99% - 22.99% (Variable)* $0* Yes* Excellent*

A Brand New Credit Card From Discover. But is "it" Worth it?

One of the best deals out there for consumers, the Discover it® Card has plenty to offer. In addition to low interest rates and generous rewards, the card comes with ancillary features for alerts, security, and consumer education. The drawbacks? Honestly, there aren’t many—though there is a spending cap for the higher reward rate, and a pretty hefty late fee attached to the terms.

Here, we’ll break down the features and benefits of the Discover it® Card, and offer a closer look at the terms and conditions.

A whole lot of zeroes

The promotional offer for this reward credit card comes with very attractive introductory rates. For the first six months, you can enjoy 0% APR on all purchases* with Discover it®. After that period, the APR is still respectable, with a rate between 10.99% and 22.99% (Variable)* for all purchases (dependent on credit score).

Discover’s (NYSE:DFS) limited-time offer includes 0% APR on balance transfers for a full 18 months*, then the variable purchase APR applies, currently 10.99% - 22.99%.* Combine this with interest-free payments, and you can pay off higher-interest credit or store cards faster, without accruing more charges. One thing to note here: There is a one-time 3% transfer fee for each balance transfer.

You’ll also enjoy zero annual fees*. Zero overlimit fee. Zero foreign transaction fee. And zero increase in APR for paying late*.

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Be richly rewarded

Who doesn’t love cash back? Discover it® delivers with a 5% Cashback Bonus in rotating categories that change quarterly. While some cards offer categories that are not exactly frequent purchases, this card features categories you’ll actually take advantage of.

For 2014, the 5% bonus is available for:

  • January to March: up to $1,500 in purchases at Restaurants and Movies—perfect for cold weather.
  • April to June: Generous. 5% cash back at Home Improvement Stores, Furniture Stores and Bed Bath & Beyond® on up to $1,500 in purchases from April through June 2014 when you sign up.*
  • July to September: Road trip! up to $1,500 in purchases at Fuel Stations*.
  • October to December: Get 5% cash back on up to $1,500 in purchases for Online Shopping, plus 1% cash back on other purchases.*

In addition, there’s a permanent and unlimited 1% Cashback Bonus for all purchases not in the current categories. A quick note here: The spending cap for the 5% Cashback Bonus is $1,500. After that, in-category purchases receive the standard 1% reward. In addition, there's a Cash Back ConciergeSM who guides a free, personalized online tour to help you receive the maximum rewards for how you use your card.

Plus, you'll receive a free FICO® Credit Score on your monthly statement!

Not sure where to use your points? You can pay for millions of products with your rewards at Amazon.com

The ShopDiscover Program: Even more cash in your pocket

How about 5% to 20% cash back? With what could be the most generous program of any credit card offer, the Discover it® offers this mega-cashback bonus at more than 200 major websites—clothing and department stores, electronics, gift and specialty shops, and many more. The websites in the ShopDiscover network include Wal-Mart, Kmart, Kohl’s, iTunes, Home Depot, several cruise lines, and 1-800-Flowers. While online retail giant Amazon.com is not featured, there’s still plenty to choose from.

Get your cash back in your preferred format:

Other than cold, hard cash, Cashback Bonuses can be awarded in the form of Discover® gift cards, Partner gift cards, merchandise, or charity donations. Some of the participating retailers, like Carnival Cruise, Celebrity Cruises, Hyatt Hotels & Resorts, and Samsonite, offer up to double the amount of the Cashback Bonus when you pick up gift cards or certificates.

Best of all, the bonuses never expire as long as your card is active, and will remain redeemable for 36 months following card inactivity.

Superior service

Finally, the Discover it® comes with the exceptional customer service that Discover® is known for, and accounts include 24/7 access to an account manager who will respond within 60 seconds.

With plenty of benefits and very few drawbacks, Discover it® is an excellent credit card choice, which is why we give it a rating of 5.0 out of 5.0 ★★★★★!

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