Discover it® Cash Back Review

0% intro APR for purchases — The card includes a 0% intro APR for 14 months for purchases.

0% intro APR for balance transfers — The same length 0% intro APR for 14 months applies for balance transfers. Note, the promo APR period extends for 14 months from the first transfer, not from account opening, as is common for balance-transfer credit cards. Cardholders must execute the transfer by a specific date to qualify, but starting the clock from the date of the first transfer does increase the versatility of this card.

Earn up to 5% cash back — Cardholders earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum of $1,500 on purchases and when you activate. All other purchases earn 1% cash back. Maxing out bonus categories each year is worth $300 cash back.

Unlimited Cashback Match sign-up bonus — Discover will automatically match all the cash back you’ve earned at the end of your first year. This sign-up bonus is only available during the first year and for new cardholders, but it can be particularly lucrative since the match is unlimited. Cardholders who max out bonus categories quarterly in the first year can expect a total of $600 cash back ($300 in bonus-bonus category cash back, plus another $300 with Discover’s match!).

$0 annual fee — Credit cards packed with valuable features tend to charge high fees or APRs. Discover it® Cash Back balances this relationship well and doesn’t charge an annual fee, making it a great fit for cardholders with modest credit spending needs, who won’t see their rewards get wiped out by an annual fee.

No foreign transaction fees — Foreign transaction fees can quickly add up when whipping out credit cards for purchases abroad. Fortunately, the card has nixed the typical 3% foreign transaction fee many card issuers charge.