The Discover it® card offers 1% cash back on all purchases and 5% back on rotating categories every quarter.
For the second quarter of 2014, you can get 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.
You have to register for the rotating 5% cash back categories each quarter, and you can do that here.
Future 5% Categories in 2014:
July – September: Summer Break (my guess: gas stations and amusement parks)
October – December: Holiday Shopping (my guess: department stores and online shopping)
While most non-MileValuers love the Discover it® card for its simplicity (no annual fee, no overlimit fee, no foreign transaction fee, 0% balance transfer fee for 18 months, 0% APR for six months), there is also value in the card for people who understand rewards programs.
Like other loyalty programs, Discover has set up its own portal. If you start at the portal, click on the store where you want to shop, and then buy things as usual, you get even more cash back. The Discover cash back portal offers bonuses of 5-20% cash back, and many of the payouts far exceed other portals.
For instance Walmart is 6% cash back through the portal (5% portal bonus + 1% back on all spending). That’s by far the best portal option with the next best options only 2.4% back or 1 Ultimate Reward per dollar according to EV Reward.
Kmart is 11% back through the Discover portal!
The Discover it® also includes your FICO score on your monthly statement. When Barclaycard also added free FICO scores to its accounts two months ago, it was an awesome new benefit.
This card has no sign up bonus! It’s not a card you are getting for a quick pay day or for rewards that would help with international travel.
If you want premium international travel, you should focus on earning airline miles or points that convert to airline miles.
The Discover it® card is of value to people who are seeking simplicity from their rewards and cards or for people who have been in the game a while, use portals well, and want access to the Discover portal.
- Fair. No annual fee. No overlimit fee. No foreign transaction fee. Pay up to midnight ET online or by phone on your due date without a fee. Plus, paying late won’t raise your APR.*
- 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.*
- Human. 100% U.S.-based customer service available any time.
- Safe. Because you’re never responsible for unauthorized charges with our $0 Fraud Liability Guarantee.
- Plus, free FICO® Credit Score on your monthly statement to help you stay on top of your credit.*
- 0% Intro APR* on purchases and balance transfers for 14 months. Then the variable purchase APR applies, currently 10.99% – 22.99%. A fee of 3% applies for each balance transferred.
- *Click “Apply” to see rates, rewards, and free FICO® Credit Score terms and other information.
Application Link: Discover it®