How to Apply for the Discover it Cash Back Credit Card A Step-by-Step Guide
When looking for a credit card with rewarding benefits, the Discover it Cash Back Credit Card stands out. It offers a seamless way to earn cash back on everyday purchases. Whether you’re shopping for groceries, dining out, or booking travel, this card ensures you’re rewarded, making it a favorite choice among savvy spenders.
Users enjoy a rotating 5% cash back on select categories each quarter, adding an extra layer of savings. Additionally, all other purchases automatically earn 1% cash back without any fuss. One of the card’s standout features is the cash back match at the end of the first year, effectively doubling your rewards without requiring extra effort.
With no annual fee and access to a FICO credit score, it’s not only financially rewarding but also a great tool for tracking credit health. With easy application steps, you’ll be on your way to maximizing rewards and smart spending in no time.
Benefits of the Discover it Cash Back Card
1. Cash Back Rewards
The Discover it Cash Back card offers a standout benefit: 5% cash back on everyday purchases at different places each quarter, like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum, when you activate. For all other purchases, earn unlimited 1% cash back. What’s more, Discover matches all the cash back you earn at the end of your first year, automatically! This means if you earn $200 in cash back, you’ll actually receive $400 at the end of the year.
To maximize this benefit, make sure to activate new categories each quarter. Always plan major purchases during these times to gain more cash back.
2. No Annual Fee
With the Discover it Cash Back card, you don’t have to worry about an annual fee. This is a significant advantage as many credit cards require a fee simply for owning the card. Not having this fee means more value returned straight to you through the rewards you earn.
Tip: Use the savings from not paying an annual fee towards paying off your balance faster, boosting your financial health.
3. Intro APR Offer
The card provides a new member 0% Intro APR for 15 months on both purchases and balance transfers. After that, the standard variable APR will apply. This can be incredibly useful for financing a large purchase or paying off existing debt interest-free during the promotional period.
Take advantage of this by planning any substantial expense or paying off higher-interest debts, but ensure you have a plan to pay down the balance before the introductory period ends.
4. Fraud Protection
Your Discover it Cash Back card comes with a built-in robust fraud protection system. Purchases are constantly monitored for unusual activity, providing peace of mind knowing that your account is safeguarded against unauthorized transactions.
Remember to regularly review your financial statements and set up account alerts. This proactive approach pairs perfectly with the card’s security features, ensuring you’re immediately notified of any suspicious activity.
5. Free Credit Score Monitoring
This card gives you access to your FICO® Credit Score for free, updating regularly with no effect on your credit score. This feature is fantastic for those keen on maintaining a keen eye on their credit health, enabling you to make informed financial decisions with real-time credit data.
Consistently reviewing your credit score helps track progress and identify areas of improvement in your credit behavior.
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Requirements for Discover it Cash Back Credit Card
- Credit Score: To apply for the Discover it Cash Back credit card, it’s recommended to have a good to excellent credit score. Typically, a score of 670 or higher is considered good, and it helps increase your chances of approval.
- Minimum Age: You must be at least 18 years old to apply for this credit card. If you’re younger than 21, you might need to provide proof of independent income.
- Proof of Income: Having a stable income is essential. Employment income such as salary or wages, or other sources such as rental income, may be required to assess your ability to repay any charges you make with the card.
- U.S. Residency: The Discover it Cash Back card is available to U.S. residents. You’ll need to provide a valid Social Security Number and a U.S. address during the application process.
- Legal Documentation: Be prepared to verify your identity and address with appropriate documentation like a driver’s license or utility bill to complete the application.
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How to Apply for the Discover it Cash Back Credit Card
Step 1: Visit the Official Discover Website
The first step in applying for the Discover it Cash Back credit card is to navigate to the official Discover website. Open your preferred web browser and type in www.discover.com in the search bar. This site is your official portal for all Discover products and services, ensuring that you’re getting the most accurate and up-to-date information.
Step 2: Locate the Discover it Cash Back Card
Once you are on the Discover website, look for the Credit Cards option in the menu. Click on it to explore the various credit card options offered by Discover. Locate the Discover it Cash Back card, which should be prominently displayed. Click on the card’s name or image to proceed to its dedicated page.
Step 3: Review Card Details and Requirements
Before applying, take some time to review the card’s details, including its cash back rewards, fees, and interest rates. Make sure to pay attention to any eligibility criteria that could affect your application. Understanding these details will prepare you for the application process and ensure you know what to expect from this credit card.
Step 4: Complete the Online Application Form
After you have familiarized yourself with the card’s features, click on the Apply Now button to begin the application process. You will be required to fill out personal information such as your name, address, and Social Security number. Ensure that all your details are accurate to streamline the application process. Double-check your entries for any errors before submitting the form.
Step 5: Wait for Approval
Once you submit your application, Discover will review your information. The approval process typically takes a few minutes, but in some cases, it may take longer if additional verification is needed. You will be notified of your application status via email. If approved, your new Discover it Cash Back credit card will be mailed to you.
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Frequently Asked Questions about Discover it Cash Back
What rewards does the Discover it Cash Back credit card offer?
The Discover it Cash Back credit card offers a unique opportunity to earn cash back on your purchases. You can earn 5% cash back on everyday purchases at different places each quarter, such as grocery stores, gas stations, or online shopping up to the quarterly maximum, each time you activate. Plus, you also earn 1% unlimited cash back on all other purchases.
How does the cash back match at the end of the first year work?
With Discover’s Cashback Match offer, new cardmembers enjoy an exceptional benefit at the end of their first year. Discover automatically matches all the cash back you’ve earned at the end of your first year. So, if you earned $200 in cash back, you’ll receive an additional $200 match, giving you a total of $400.
Are there fees associated with the Discover it Cash Back card?
This card is designed to offer value without many of the typical fees you might expect. The Discover it Cash Back card comes with no annual fee. Additionally, there are no foreign transaction fees, which is great for travelers. However, it’s important to note that late or returned payments may trigger penalty fees, so paying on time is crucial.
What features does the Discover it Cash Back card provide for managing my account?
This card comes packed with user-friendly features to help manage your account efficiently. You can access your account 24/7 online or through the Discover mobile app. Alerts can keep you informed about your account, and tools like the FICO® Credit Score monitoring allow you to track your credit health. Additionally, the card offers features like the Freeze it® on/off switch for maximum control over your account security.
How does the redemption of cash back rewards work?
You have multiple options for redeeming your cash back rewards with Discover. You can apply your rewards as a statement credit, use them to pay at checkout with select merchants, or even deposit them directly into your bank account. Discover provides you the flexibility to redeem your rewards in a way that suits your needs, with no expiration for rewards as long as your account is in good standing.
Beatriz Johnson is a seasoned financial analyst and writer with a passion for simplifying the complexities of economics and finance. With over a decade of experience in the industry, she specializes in topics like personal finance, investment strategies, and global economic trends. Through her work on Web Dinheiro, Beatriz empowers readers to make informed financial decisions and stay ahead in the ever-changing economic landscape.
