Get an Easy $600 with the Discover it® Cashback Match™ Card

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Sorry if that headline sounds clickbait-y but I’m seriously considering getting the Discover It card.

Update: I got “it!”

I’m not crazy about the name of the card. It’s hard to refer to “It.”

I might discover... It

I might discover… It

– Where’s my “It”?

– Your what?

– My “It!” Discover “It!”

– You’ve lost your damn mind.

But no for reals when I looked at the categories and did the math, I thought how lucrative this no annual fee card could be.

The cashback of the Discover It

Discover offers 5% cash back in rotating quarterly categories on the first $1,500.

So what? The Chase Freedom card has that too. 5% of $1,500 is $75. Over a year’s time, that’s an easy $300.

But Discover will double the cashback after the first 12 billing cycles for:

  • 5% categories
  • Daily spend
  • Portal shopping!

Not only that, but the 5% categories are good. 

Discover It's 5% Quarterly Cashback Calendar for 2015

Discover It’s 5% Quarterly Cashback Calendar for 2015

Restaurants, Amazon.com, and department stores? Hell yeah, I can max the crap out of those. So I’ll get $75 each quarter. $300 a year. And then get it doubled to $600 after the first 12 billing cycles. Hellz to the yeah.

The shopping portal is interesting

While I can’t access the Discover shopping portal yet, I can see from Cashbackholic that the payouts are up to 10%.

Which would double to 20%. 

And if you found the magic combination of 10% portal payout + 5% bonus category, that’s 15%.

Which would double to 30%. 

30% cashback is pretty freaking incredible. Especially when you consider that portals advertise discount / promo codes, too.

Like Macy’s.

30% cashback at Macy's is a good deal!

30% cashback at Macy’s is a good deal!

Even 20% cashback is good. Like at my beloved Kohl’s.

20% cashback from Kohl's

20% cashback from Kohl’s

In fact, there’s a quintuple dip opportunity with Kohl’s:

  • 1st dip: 5% cashback
  • 2nd dip: 5% portal bonus
  • 3rd dip: Double cashback
  • 4th dip: Kohl’s cash + Kohl’s discounts from portal
  • 5th dip: Kohl’s MVC status / free shipping

Say you spend $100 at Kohl’s.

You’d get:

  • $5 back from Discover It
  • $5 back from the portal
  • $10 back from double cash promo
  • $20 back in Kohl’s cash
  • Plus whatever discounts you added when you checked out

So that’s… pretty incredible.

Other perks

The Discover It card has:

  • No annual fee
  • No foreign transaction fees
  • Minimum cash back redemptions starting at 1 cent
  • Free FICO credit score
  • 0% APR for 12 months
Balance transfers are 3%, but this could be a good way to float a balance for a year if you need it

Balance transfers are 3%, but this could be a good way to float a balance for a year if you need it

For a card to have no annual fee and no foreign transaction fees is a pretty rare combo.

And for that reason, you can keep the card forever to help age your credit accounts. And to take advantage of any other promos and quarterly categories in the future.

And if you have the Chase Freedom card, you can max out the Freedom 5% categories AND the Discover It categories.

Max them both out the 1st year you have your Discover It card and get $900 back ($600 from Discover It and $300 from Chase Freedom).

For 2 no annual fee credit cards, that’s an amazing deal.

Caveats

  • Discover isn’t as widely accepted as other cards. But for online shopping, you’ll be fine
  • Don’t max out the categories on stuff you don’t need just to get the cash back. That makes no sense
  • Don’t carry a balance unless you’re taking advantage of the 0% APR or have a damn good reason
  • Some peeps may find it hard to remember the various categories and quarters and bonuses on multiple cards

In fact, going along with the last point, some may prefer the Discover It Miles card instead. It has a flat 1.5 “miles” per dollar spent AND has the same double miles offer that the Discover It card has. So 3 miles per $1 spent the 1st year.

You’ll also still gain access to Discover Deals to get the great portal bonuses.

Bottom line

I think I’m gonna snap up this card in a couple of weeks. That way, if the 3rd quarter bonuses repeat again next year, I’ll have a whole month to take advantage of Amazon.com and department stores in Q3.

The Discover It card has my attention, especially consider the fantastic double cash promotion for new cardmembers.

The 5% cashback categories are an easy $600 the 1st year. And when you factor in portal bonuses, no annual fee, and many ways to combine it with other deals, it really increases the value proposition of the Discover It card.

Only downside is that there’s no sign-up bonus. But to get an easy $600, I think I can get over it.

Both the Discover It and Discover It Miles cards are accessible via my links – and I thank you for using them!

What’s your take on the Discover It card? Hell yeah or not so much?

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About Harlan

Just a dude living in Dallas.

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Editorial Note: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. The opinions of the commenters are not necessarily the opinions of this site.

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  1. I had a regular Discover card for years. So many years, canceling it made no sense from a credit perspective. I read about this, called Discover, and am now upgraded to the Discover It and get the double cash back – no change in account number or anything needed. However, the “double” is paid at the end of year one, so everyone is aware how the deal works.

  2. Isn’t the Discover Miles 1.5 miles everywhere doubled after one year the first year? Or is that what you mean? It sounds like 3 miles everywhere, then doubled.

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