For years, Discover's More card was the company's reigning champ featuring an ample 5 percent in cash back rewards. One major downer of the More card was its lack of rewards outside of Discover's quarterly bonus categories. With a few upgrades in tow, the new 2013 Discover It card takes the spotlight, and rightfully so.
To begin, take a look at Discover It's copious rewards program. In regard to credit cards, the rewards can be so generous at times, it mimics a discount card. Like its predecessor, the It card sports 5 percent cash back on purchases made in certain categories that change throughout the year. Important to realize, you have to register for each category through their website. You don't receive your cash back rewards automatically until you have registered for a particular category. In addition, 00 is the maximum spending amount per quarter on which you can acquire these rewards. As for all other purchases, outside of the bonus categories, you receive an unlimited 1 percent cash back. This is a much appreciated upgrade from the 1/4 percent Discover's More card offered. As an added bonus, Discover's online shopping mall is among the best, and you can receive 5-20 percent cash back on any of its 200 plus retailers.
As if its cash back rewards weren't enough, Discover's It card lacks nothing in added benefits. When it comes to fees, for instance, there are virtually none. There is no annual fee, no over-limit fee, and even no foreign transaction fees. Also, there is no payment-by-phone charge and you won't incur a fee for your first time paying late. Speaking of paying late, your APR will never increase due to late payments.
Flexibility is another advantage of this unique card. You set your due date, and you have until midnight EST to pay. In addition, Discover It offers both purchase and price protection. For the first 90 days, an eligible purchase is protected up to 0 if the item is stolen or damaged. Also within 90 days, if you come across a lower price on a qualifying purchase, they will refund your money up to a 0 difference.
As a nod to the current economy, Discover offers help in the event you lose your job. Whether it be a lower interest rate, a lower payment plan, or other form of assistance, Discover will work with you if you suddenly find yourself without a job. They also offer an introductory 0 percent APR on balance transfers for either 14 or 18 months depending on your card's version. This is especially helpful when you want to consolidate your debts. You can save a substantial amount on interest by taking advantage of this introductory offer.
Overall, Discover It is a dandy little card. Packaged in a sleek design with all information printed on back, it is loaded with cash back rewards and other benefits that rival its competitors. Not to mention, there is now no need to worry about acceptance, being that Discover is currently accepted at over eight million vendors around the globe.