Cashback Match Lets You Double Your Discover Rewards

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » Cashback Match Lets You Double Your Discover Rewards

Cashback Match Lets You Double Your Discover Rewards


Updated: February 4, 2021

The content is accurate at the time of publication and is subject to change.
Cashback Match from Discover

Discover has always been a leader in the cashback rewards game; with their generous 5% cash back in rotating categories offer, you can earn up to $75 in cashback rewards each quarter if you activate. But their latest card takes credit card cash back rewards to new heights.

The Discover it® Cash Back сard lets new cardmembers match the cashback rewards you earn the first year you have the card. That means if you earn $500 in cash back, you'll get $1,000 on your cardmember anniversary. This is an unbeatable, best-in-class offer that makes it a great time to apply for a new cash back credit card.

Basically, here's how it works: you'll use your Discover it® Cash Back card to make purchases anywhere you like – online, at the gas pump, in department stores, at restaurants and bars, and any place else you want the convenience of paying with a credit card. You'll get 1% cash back on every dollar you spend, everywhere, but you'll also get 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.

Seasonal bonuses for the best shopping rewards

These rotating categories shift with the seasons, giving you extra cash back at places like grocery stores, restaurants, Amazon.com, or gas stations.

Discover usually matches the bonus to the time of year, so in December, when people are doing their holiday shopping, you might get 5% back at online stores (up to the quarterly maximum), while in the spring you might get 5% back at grocery stores or gas stations. Each year, they offer new purchase categories for extra cash back offers, so you never know where your opportunities to earn will pop up. All you have to do is sign up for the bonus each quarter.

Extra Cash Back at amazon.com

Doing the math on rewards

The cap for the 5% bonus is $75 per quarter, so you'll only earn the 5% back for the first $1,500 you spend in the bonus category. But even after that, you'll continue to earn 1% back on every dollar you spend in every category, including the bonus category. The more you spend, the more you'll earn back. If you spend the maximum amount in each bonus category all year long, you'll have accrued $300 in cash back rewards in the bonus categories alone. With the Cashback Match, that's $600 (but only for the first year).

Redemption is easy and options abound

When the time to redeem those rewards you've racked up comes, it couldn't be easier. You can do it online, in your account center, just by logging in with your username and password. Then you choose how you'd like to receive your rewards: you can get a statement credit to your account, choose partner gift cards starting at $5, or eCertificates to use online, have your reward direct deposited into any account you choose, including prepaid cards or bank accounts, use your rewards directly at Amazon.com and PayPal, or even make a charitable donation to an eligible charity of your choice. There are a few select charities that partner with Discover to allow you to use your cash back reward as a donation.

Retailers that allow you to get a gift card for the amount of your cash back bonus include many of the biggest and most popular brands around, including Barnes & Noble, Sephora, Zappos, Apple, and more. Some retailers will even give you a bonus to redeem your reward as a gift card with them; you might be able to get a gift card for an even higher amount that the balance of your cash back rewards account.

Low interest rates and other perks

Besides the incredible cash back deal now being offered, Discover it® Cash Back is a solid low-interest credit card that offers many benefits and perks for members. Their customer service consistently wins awards for being courteous, helpful, prompt, and clear. You can call anytime, 24 hours a day, 7 days a week, for assistance with your account, and you'll be greeted by a friendly voice.

If you're looking for a 0% APR introductory rate, you're in luck: the Discover it® Cash Back offers a 14-month long no-interest promotional rate on both purchases and balance transfers (when the introductory interest rate is over, the ongoing APR of 11.99% - 22.99% Variable APR will apply). The balance transfer fee is 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. So, if you want to pay down debt from other, higher-interest credit cards, or if you'd like to make a major purchase and take your time paying it off, you'll be able to do this with the Discover card.

There's no annual fee for this card, and – bonus for world travelers – no foreign transaction fee for purchases made overseas. This is a real money-saver if you find yourself out of the country very often, or enjoy shopping abroad.

Free FICO scores and more

Free Fico Score

The Discover it® Cash Back card is available to customers with excellent, good, or average credit. If you're concerned about your credit score, you'll appreciate being able to monitor it with a free Credit Scorecard. Every month, your FICO score will be updated in your Credit Scorecard account, along with information about any factors affecting your credit score like inquiries and missed payments. Keep track of the ups and downs and ensure that your score stays solid with this valuable free perk.

Another great benefit of all Discover cards is the Freeze it® feature, which allows you to freeze your account in case you misplace your card. If the card is lost or stolen, you can keep it frozen until you find it, or cancel it and have a new one sent out. In the event that you find your card, you can easily unfreeze the account and continue using it. When frozen, the card can't be used to make purchases, do balance transfers, or get cash advances.

Comparing it to the competition

When you look at the Discover it® Cash Back card along with the other premium cash back cards available, it stacks up pretty impressively. The Blue Cash Preferred Card from American Express offers 6% cash back at grocery stores and 3% back at gas stations, but that's still less than practically 10% cash back you can get when you match your 5% rotating cash back rewards in select categories for the first year (provided you activate all categories and spend up to the quarterly maximum). And the Blue Cash Everyday Card from American Express offers an introductory bonus offer, but doesn't double all your first year cash back.

Overall, the Discover it® Cash Back card performs well against the competition – but really, there's no need to choose one over the other. It's great to have more than one card in your wallet, in case one of them isn't accepted somewhere. Discover is accepted at 9.6 million merchants worldwide, so wherever you go, you'll be able to use your card to make purchases and rake in rewards. Apply today, and start collecting that cash back as soon as you're approved.

Amazon is not a sponsor of this article. Amazon, the Amazon.com logo and the smile logo are trademarks of Amazon or its affiliates.

PayPal, the PayPal logo are trademarks of PayPal or its affiliates. Listed merchants are in no way sponsoring this article.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related Research:

Citi Premier® Card – A World Elite Mastercard Travel Credit Card

Posted: February 10, 2021

Citi, a Credit-Land.com advertising partner, offers the Citi Premier® Card, which gives elevated ThankYou points for your travel expenses and, with the recent update of the rewards program, for purchases at restaurants, supermarkets, and… Continue reading

Discover it® Miles Review: Turn Miles Into Travel Experiences or Cash

Posted: February 10, 2021

Many travel credit cards come with tempting perks, requiring some effort bonuses, a complicated rewards structure, and steep annual fees. The Discover it® Miles is probably the best Discover card for travel, especially if you do not travel… Continue reading

Top 5 Secured Credit Cards: July 2021 – Experts’ Choice

Posted: October 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

  • Gabriel Williams

    I love my discover card because of its rewards program. Who knew that shopping can be fun. It’s the best card I even opened. Thank you Discover!

    • Ronald Garner

      Did you use this card abroad? Is it accepted in South America?

      • Gabriel Williams

        I know for sure that discover cards are accepted in Brazil. But I don’t know exactly about other countries

Recommended Cards for Everyday Purchases
Excellent/Good Credit
Excellent/Good Credit
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
Apply
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
*See Terms
Excellent, Good Credit
Excellent, Good Credit
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Apply
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Excellent/Good Credit
Excellent/Good Credit
INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Apply
INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
*See Terms
Get the latest news, articles and expert advice delivered to your inbox. It's FREE

Best Credit Cards Video For You

Save on Interest Charges with Low APR Credit Cards

June 18, 2015

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!