There are a lot of credit cards out there, which can make it difficult for consumers to choose the one that best suits their needs. A card will often make one great offer, but turn out not to be such a great deal because of another condition in the fine print. The Discover It Cashback Match, though, seems to be all reward with no tricks.
Many people choose not to use a credit card because of the interest rate, but the introductory interest rate for the Discover it — Cashback Match is 0% for the first 14 months. This includes balance transfers, so someone with a balance on a higher interest card can transfer it just to pay it off without the added interest fees.
After the first 14 months, the interest rate rises and can be in a fairly wide range. It can be as low as 13.49% or as high as 24.49%, and is a Variable APR.
The sister card, Discover it — 18 Month Balance Transfer Offer, offers a 0% interest rate for balance transfers for 18 months, so may be the better card for someone who is paying off an old balance. The introductory rate for purchases only remains at 0% for the first 6 months, after which it rises to between 13.49% and 24.49%.
The rewards are structured so that there is basically an unlimited amount of reward an individual can get on each card. For certain categories only, there is 5% cash back for up to every $1,500 spent, and the categories rotate every quarter. There is 1% cash back on everything else, with no limit.
Categories during 2018 included: gas stations and wholesale clubs; grocery stores; restaurants; and Amazon.com and wholesale clubs. Because Discover is transparent about the categories, individuals can plan accordingly to take advantage.
Then Discover offers something no other card is offering, at least so far: at the end of the year, they will match all of the cash a user has earned during the entire year. This is done automatically.
How to Choose?
Anyone who is concerned about paying off an already existing credit card debt will probably be better off with the Discover it — 18 Month Balance Transfer Offer unless the debt can be paid off quickly. This option gives consumers an extra 6 months to pay off the debt without paying interest.
Anyone who wants to make a large purchase and then then have time to pay it off should choose the Discover it — Cashback Match. That option will give plenty of time to pay off a new bill.
There are also some other perks, including an online mall, Discover Deals, that offers additional cash back for purchases; no foreign transaction fees; and a feature that allows consumers to freeze the card when it’s lost or stolen. The first late payment gets no charge, and it won’t cause the APR to go up. And the annual fee? $0.00.