This is the Review of Discover It Credit Card which is a newly revamped cashback credit card issued by Discover Financial, and I think it’s high time for me to post this review to reflect its features and benefits. It is one of my favorite credit cards when it comes to 0% intro APR offers on purchases and balance transfers, in addition to its great cash rewards program. As a rewards card, it lets you earn cash rebates in return for your spending, so it’s really like having a discount card with you.
I’ll do a review of this flagship Discover It Card, tell you what’s so different about it, and how I rate it now.
Things I Like About This Card:
No Annual Fee: Enjoy the cash back rewards and other exclusive cardholder benefits of this card at no charge at all.
0% introductory APR on balance transfers: For the first 14 months, you will enjoy a 0% introductory APR on all balance transfers. This is a good deal if you plan to take advantage of the intro 0% balance transfer by transferring your high-interest credit card debt or store card debt to this new card account, so that you pay ZERO interest on your transferred balance for 14 months! This allows you to pay off your existing debt faster as you stop paying interest on it. After the 14 months, your APR will be 10.99% – 20.99%, depending on your credit score. Make sure you can pay off all your debts within the 14 months so that you won’t incur the higher non-promotional interest rates. Balance transfer fee is 3%.
This card also comes in another version which offers 0% intro APR on balance transfers for 18 months and 0% intro APR on purchases for 6 months. Besides this difference in promotional period, all other card features are the same. To get this Discover It Card – 18 Month Promotional Balance Transfer, click here to apply online.
0% introductory APR on all your purchases: You will also enjoy the benefit of having a 0% introductory APR on all your purchases for 14 months, after that you will have to pay the regular APR, which is between 10.99% – 20.99% depending on your credit score. This 14-month period of 0% APR on purchases is a very good offer as it is one of the longest offered by credit card companies in the US. So if you are thinking of buying a big ticket item, and have 14 months to pay it off interest-free, you’ll make the most out of this card.
Receive up to 20% cash back on purchases made at Discover’s online shopping mall. Earn from 5%-20% cash back on purchases made online at Discover’s online mall.
Earn 5% Cashback Bonus in rotating categories. This is another attractive benefit this card will offer you. It can help you save a lot of money by giving you 5% cash back in rotating categories such as gas, travel, restaurants, etc, which change throughout the year. Important note: You must sign up (it’s free and you can do it online or through the phone) for each 5% program! If you spend more than the specified amount for each 5% program, the excess will automatically earn 1% cash back.
Here are the 5% cashback categories for the first quarter of 2013: