Review: Discover it Card $75 Cash Back – All the Fairness Plus An Opening Bonus

***Update – Easy come, easy go.  I’m told this offer is no longer available (it was only around for a short period).  The Discover it Card is still a great offer, even without the $75 cashback, and you can check it out here: Our Discover it Card Review.***

Not long ago Discover® did a bold thing and revamped their entire credit card line into the “it” series.

Their goal in doing this was to make their cards more consumer friendly while still providing a nice cash back program.  They made their cards fair with no annual fee, no overlimit fee, no foreign transaction fee, plus other benefits (we’ll get into that fun stuff below).

Well they’ve added a little more to their card – $75 cash back.

$75 Cash Back

This is Discover’s first card that offers up a cash back sign-up bonus.

In order to get the $75 you have to make $500 in purchases within three months of opening your account.   This is a pretty low threshold for a bonus payout, especially over three months.

Cash Back Rewards Program

A $75 cash back bonus is nice but you need more to a card, right?

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You get 5% cash back on categories that change quarterly.

This is on up to $1,500 in purchases on your card.  Until the end of the year you get your 5% bonus with online shopping.  This is just in time for all the holiday purchases we end up making.  Make sure you sign up for each quarterly bonus, which is easy to do.

Oh, and all other purchases will get you 1% cash back.

Need help figuring out how to best use your card for rewards?  Give a call to their Cashback Concierge(SM) for a 1-on-1 online tour of how to get the most out of rewards for your card.

Here’s a sneak peek at the general 5% rewards categories for 2014:

  • Jan-Mar: Restaurants and Movies
  • Apr-Jun: Fresh for Spring
  • Jul-Sep: Summer Break
  • Oct-Dec: Holiday Shopping

Do you shop at Amazon?  Well you can use your cashback rewards towards Amazon purchases.

Being Fair To People

The Discover it Card has done added a few items to make their card a little fair to the people who use it.

There’s no annual fee.  There’s no overlimit fee.  And there’s also no foreign transaction fee (this a fee you can get charged when you use credit cards overseas and can average 3% of your purchase).

When you pay your bill you have until midnight EST on your due date when you pay online or by phone.  And you get to a due date that’s best for your cash flow.

Ever just screw up and lose track of a bill?  It’s happened to me a few times I’m embarrassed to say.  With this card you won’t get hit with a late fee on your first late payment (not that you should make a habit of paying late anyway).  And if you pay late it won’t wreck your APR rate either.

Need to Call Someone Over There?

If something comes up and you need to contact customer service you will get a real live person that resides in the U.S.

APR – Balance Transfers and Purchases

On top of everything else you get an intro 0% APR for 6 months on both purchases and balance transfers.  After that your APR is a variable rate.  The fee for a balance transfer is 3% of the amount you are transferring.

This Card Versus Other Discover it Cards

There is a trade-off with the $75 cash back.  There are a couple of other Discover it versions that offer up different terms on the intro APR.

One offers up 14 month of intro 0% APR on balance transfer and purchases (see our review here) while another offers 18 months intro 0% APR on balance transfers with 6 months 0% APR on purchases.

But the other two cards don’t offer up a cash back bonus when you sign up.

It’s all about what you need.  If you aren’t too concerned with the intro APR period then by all means go for the $75 bonus.  This is great if you don’t have any balances to transfer and you pay off your card in full every month.

Discover it Versus Other Company’s Cards

When I heard about the Discover it card the first card that came to mind was the Citi Simplicity® Card.  The Simplicity also attempts to be more lenient on consumers with no late fees or rate hikes for late payments.  But it doens’t offer a cash back program.  The Chase Freedom is another comparable card with its 5% cash back categories, similar to the Discover it Card.  But the Chase Freedom doesn’t offer up the same fee leniencies as the Discover it Card.

Is This Discover it Card Right For Me?

Overall I like this card.

You have to keep track of the cash back categories and make sure you register but you are also getting the opportunity for 5% back with 1% on all other purchases.  You also get a card that isn’t going to slam you if you make a mistake and pay late.  You also get 6 months of intro 0% APR on both balance transfers and purchases, all without an annual fee.  And let’s not forget that the Brand Keys Customer Loyalty Engagement Index Report has ranked Discover #1 in customer loyalty for 17 years in a row.

Keep in mind you will need excellent credit to get this card.

*See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the “Apply Now” button, you can review the credit card terms and conditions on the issuer’s website. Discover is a paid advertiser of this site.

Published or updated November 7, 2013.

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