Discover it® Cashback Match Review

The Discover it® Cashback Match™ comes in two versions. The long balance transfer version offers a 0% APR for 18 months, but 0% APR on purchases for just 6 months. With this version, you get 0% APR on both balance transfers and purchases for 12 months.

Discover it

Discover has always been best known for offering 5% cash back in rotating categories and that hasn’t changed. This version of the Discover it® offers a 0% APR introductory rate on balance transfers and purchases for 14 months. It also comes with no annual fee and provides free access to your FICO score.

Discover it® Cashback Match™ Snapshot

  • You could turn $200 into $400 with Cashback Match. Discover will automatically match all the cash back you earn at the end of your first year. New cardmembers only.
  • Earn 5% cash back in new bonus categories like gas, restaurants, Amazon and more – up to $1500 every quarter you activate. Plus, unlimited 1% cashback on all other purchases.
  • Redeem your cash back for any amount, any time. Cash rewards never expire.
  • 100% U.S. based customer service.
  • FICO® Credit Scores for free on statements and online.

Rewards Program

There are three components of the Discover it® rewards program: (1) 5% cash back; (2) 1% cash back; and (3) Double cash.

1.  5% Cash Back: This card offers 5% cash back on categories that change each quarter. These categories include gas, home improvement and department stores. They are rotating categories which change every quarter so you have to stay on top of what the categories are so you can maximize your earning. You must activate the 5% categories each quarter to qualify.

Keep in mind that the 5% cash back is on $1,500 in combined purchases per quarter. Once you’ve charged $1,500 to the card for the 5% category, any additional purchases will earn 1% cash back.

2. 1% Cash Back: On all purchases that fall outside the 5% categories you will earn 1% cash back with no spending tiers or caps.

3. Double Cash: The first year only, Discover doubles your cash back at the end of the year.

0% Introductory Rate

The card offers a 0% introductory rate on purchases and balance transfers for 14 months. Note that there is a 3% fee on balance transfers. There is no fee for taking advantage of the 0% introductory APR on purchases.

Other Perks

The Discover it® card offers several additional benefits:

  • Freeze ItSM on/off switch for your account: This cool feature enables you to freeze or unfreeze your card in seconds with Discover’s mobile app or via its website. This is a great feature if you lose or misplace your card.
  • Track your recent FICO® Credit Scores for free: Stay on top of your credit and avoid surprises. Now you can see your recent FICO® Credit Scores in one easy-to-read chart on monthly statements and online. Plus see the key factors online from your credit history that affect your score the most.
  • $0 Fraud Liability: You’re never responsible for unauthorized purchases on your credit card.
  • Last Minute Payment: Pay your bill up to midnight (ET) the day it’s due by phone or online.

What we like about the Discover it® Card

  • Up to 5% cash back
  • 0% introductory APR
  • Double cash back the first year
  • No annual fee
  • Free access to your FICO® score

What could be better

  • The 5% cash back has a spending cap
  • You must sign up each quarter to qualify for the 5% cash back
  • No signup bonus
  • Requires Good/Excellent Credit