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The Discover offers on this page are no longer available via CNBC. You’ll earn 5% back on up to $1,500 spent in the bonus categories for any given quarter, and then 1%. While $376 is our estimate of your annual cash-back potential based on average household spending (according to the BLS), you’re certainly not limited to that. Earn 3x points on travel immediately after earning your $300 travel credit, 3X points on dining at restaurants, and 1 point per $1 spent on all other purchases.
The only downside to this offer is that you'll need to wait until the end of the year to get a credit on your account. Those categories rotate, but they’ve recently included purchases at grocery stores, restaurants, and gas stations, along with those from Uber, Lyft, PayPal, Amazon.com, Target, and Walmart.
Simply submit your grades between May and August, and the reward will be added to your cash-back balance within seven business days. Since this card has no annual fee that means you can earn quite a profit. The first time you miss a payment you won’t be charged a late fee and you won’t see your interest rate balloon to the penalty APR. The Discover it Cash Back is a good option for anyone who wants to earn cash back on their day-to-day purchases. Cash Back Deal: Discover will match all the cash back you've earned at the end of your first year (only for new cardmembers). Earn 1.5% cash rewards on everyday purchases. When compared among all rewards cards in our database: See how this card compares to similar cards, Investopedia Credit Card Rating Methodology. For new cardholders Discover’s first year “Cashback Match” can be a lucrative, one-time bonus.
You will also need to have verifiable independent income, like a part-time job, and you may have to show proof of income. You have enroll at the beginning of every activation period to earn rewards.
See our, Chase Freedom Flex Review: Plenty of Rewards and Perks, U.S. Bank Cash+ Visa Signature Card Review: Choose Your Bonus, Chase Announces New Freedom Card, Beefing Up Rewards, Discover it Student Cash Back Card Review: Incentives for Good Grades, Chase Freedom Review: Rotating Rewards With a Twist, Discover it Balance Transfer Card Review: Like Two Cards in One, Discover it Chrome Gas & Restaurants Card Review: Limited Cash Back. And that, in turn, is especially lucrative during the first year of card ownership, when the cash back match essentially doubles your cash back earnings.
To see how we calculate these scores, check out our, See how this card stacks up to the competition. That level of spending works out to an effective cash-back rate of 1.5%. Earn 5% cash back on rotating categories each quarter each time you activate.