The card that offers a truly amazing cash back for new cardholders.
Actually, there are two cards of the same bank offering a cash back of 5%. They are the Discover it® – Cashback Match™ and the Discover it® – 18 Month Balance Transfer Offer. It’s needless to say that the cards are more than popular. The reason for it is obvious – a very appealing sign-up bonus and the fact that they allow you to get rewards for the things you bay everyday.
Below we provide a short description on both of the cards so that you can compare them and have a general understanding of what makes each of them so outstanding.
General information on the features of the cards
The only difference between the cards described in this article is the difference that has to do with the “bonus” period in terms of APR.
Discover it® – Cashback Match™ implies the period of 14 months during which you’re not expected to pay any fee for the purchases made and balance transfer operations carried out. Standard APR amounts to 11.99% – 23.99%. Mind that it may vary.
Discover it® – 18 Month Balance Transfer Offer implies the period of 6 months during which you’re not expected to pay any fee for the purchases made and an interest free period of 18 months for balance transfer operations carried out. Standard APR amounts to 11.99% – 23.99%. Mind that it may vary.
Apart from the points mentioned, the c ards are the same. They both promise 5% cash back on the sum up to $1,500 spent each quarter on the purchases made in bonus categories. Once you exceed the limit, the cash back of 1% applies. However, for those who are using the cards for the first time in their lives, there is a wonderful bonus to get – In the end of the 1st year, they’ll get cash back on the total sum spent during this period. This definitely makes up for the cap that may seem rather low.
If you want to find a card that’ll allow you to carry out lots of balance transfer operations for free should definitely choose the Discover it® – 18 Month Balance Transfer Offer. If you are planning to make a big purchase and you think you’ll need some time to pay it off, don’t hesitate to apply for the Discover it® – Cashback Match™.
In this article the benefits of both the cards are pointed out. Besides, in order not to make things too much complicated both the cards are referred to as Discover it® – Cashback Match™ cards.
Benefits of the cards:
- You get a cash back of 5% on the purchases of the things you need everyday. Both cards come with bonus categories to be activated. When making purchases in them, you’ll earn 5% cash back. Both the cards imply the limit on the sum to which the cash back applies – $1,500. There are the following categories (available in 2017 as well as 2018) you can activate:
- Q4 2017(available starting from the 1st of October and up until the 31st of December): You can get rewards for the purchases on Amazon and Target.
- Q1 2018 (available starting from the 1st of January and up until the 31st of March): You can get rewards for the purchases at gas stations and wholesale clubs.
- Q2 2018 (available starting from the 1st of April and up until the 30th of June): You can get rewards for the purchases at grocery stores.
- Q3 2018 (available starting from the 1st of July and up until the 30th of September): You can get rewards for the purchases at restaurants.
- Q4 2018 (available starting from the 1st of October and up until the 31st of December): You can get rewards for the purchases on Amazon and at wholesale clubs.
If you’re spending as much as an average family in America does, you’re very likely to use the majority of the benefits offered by the cards.
- You’ll be granted the access to Discover Deals. There is an online mall offering 20% cash back for the purchases at a very wide variety of retail stores. With any of the Discover cards, you’ll increase the cash back on 5%. You’ll also be able to look for discount coupons to be used in offline stores. Since the purchases made at the mall are also taken into consideration in terms of your Discover rewards, you’ll easily accumulate lots of rewards in the form of cash back.
- Other perks offered by the cards. There are some other perks to expect with the cards. If you’re still doubting whether any of the cards is worth applying for, these perks will help you make the final decision. The cards imply that you get an access to your FICO score. Moreover, there is a truly great Freeze It℠ that is meant to protect the funds on your card if it gets stolen or you lose it. The cards don’t have any annual fees to pay and if you fail to pay off your first purchase on time, there won’t occur any fee for it.
The reasons for you to consider applying for a different credit card with cash back and options that you have
Even though the cards may seem to you ideal, the truth is there is no perfect credit card. Below there are drawbacks of the cards as well as other options for you to consider.
- The bonus seems amazing but you’ll need to wait till the end of the first year to get it. Actually, some people may be disappointed with the need to wait till the end of the first year to get the cash back they earned. If you’re one of those people, the Chase Freedom® may be a better card for you to have. It comes with a sign-up bonus of $150 that you can get in case you manage to spend $500 during the first 3 months.
It’ll be the best card for you if you spend at least $1,500 each quarter of a year. If you spend this sum on making purchases in activated categories, the cash back of 5% will apply. Once you exceed this limit, you’ll get 1% for any future purchase. There is no annual fee to pay and you’ll be granted the access to Chase Ultimate Rewards where you can get a cash back of 10% on the purchases made online. There is also a very appealing offer in Terms of APR that’s valid for the first 15 months. Standard APR varies from 15.99 to 24.74%.
- The bonus categories available may not fit you. If that’s your case, look through the information on the U.S. Bank Cash+™ Visa Signature® Card. Each quarter of a year you’re to activate 2 bonus categories for which the cash back of 5% will apply. The maximal sum that’s the subject to the cash back is $2,000. With this card you’ll also get 2% cash back on the purchases in your selected everyday category and 1% for any other purchase. In September 2017 there appeared a sign-up offer for the card. Your rewards rates will be slightly increased during the first year of you using the card. The only thing about the card that makes it worse than Discover It and Chase Freedom is that the bonus period in terms of APR lasts for only 12 months and that the Standard APR is a bit higher.
- The cards require you to activate bonus categories beforehand. In case you forget to activate your categories, you won’t get any cash back for making purchases in them. Considering that we all have very busy lives, sometimes it can be quite hard to remember about the need to activate. The ideal solution for those looking for simplicity in credit cards (in terms of no bonus categories to activate) the solution is the Citi® Double Cash Card – 18 month BT offer. The card will give you an opportunity to get 2% cash back: 1% when paying and 1% when paying your purchases off. It’s actually one of the highest rewards rates at the market.
The card will also grant you the access to your FICO score. To make things even better for you there is no annual fee that you’re expected to pay. During the first 18 months after opening an account you won’t have to pay any fee for balance transfer operations carried out. Standard APR varies from 14.49% to 24.49%.
Are the Discover it® – Cashback Match™ cards worth applying to?
In case you’re looking for a card with an opportunity to increase your rewards rate and a cash back bonus to expect at the end of the year, the card is the one you should have. Don’t forget that one of the cards offers a very long interest free period for those who often carry out balance transfer operations.
If you’re one of those who prefer having a flat-rate cash back with no need to worry about bonus categories, you need to keep looking for your ideal card. Fortunately, there are many cards that can meet your needs.