Early this year I wrote about the Discover it card as a earning tool for “travel cash”. At that time there was no bonus! Discover Financial has just launched a nice little $75 cashback bonus on the Discover it Card which has no annual fee. It is really rare to see a cash bonus on a no fee card. I can’t even remember when I saw any bonus on the Discover card. Discover is really stepping up to get your business.
So if you are looking for a no fee card to keep around and earn some easy cashback each year, I would highly recommend checking out the Discover it card. Many of you might have figured out how to get your miles and points balances growing but have you got your “travel cash” figured out. I don’t consider a trip free unless everything is completely paid for; flights, hotels, food, and fun money! I use various credit cards as tools to get travel cash to fund my trips.
I just recently use the American Express Blue Cash card to earn $360 cashback. I was planning a Bachelorette Weekend Getaway for my future sister-in-law and needed some spending money so I of course planned ahead. My American Express Blue Cash card offers 6% annual cashback on spending up to $6,000 at grocery stores. So I simply purchased $6,000 worth of Visa gift cards at Ralphs and then liquidated them. I easily maxed out this annual card benefit and earned some great “travel cash” for my trip that I’ll be using this coming weekend. (Follow me on Twitter or Facebook to see where my cashback has taken me).
There are many ways to maximize the category spending bonuses on credit cards. This can easily be done with the Discover it card. Check out the benefit on the chart below and see how you could max out the benefits of this card with no annual fee to worry about. Keep the card every year and earn some easy “travel cash”.
|5% cash back in rotating bonus categories||Earn 5% back on select categories, up to $1,500 spent per quarter. All other purchases, and bonus purchases above the limit, earn 1%.|
|No Annual Fee||The standard no annual fee, plus no foreign transaction fee or penalty interest rate, and your first late payment fee is waived|
|18 months of 0% interest on balance transfers||With 6 months of 0% on purchases; alternatively, 14 months of 0% APR on purchases and transfers|
|Purchase, warranty, price and return protection||Discover will refund or insure covered purchases, $500 per incident|
|Access to ShopDiscover||5-20% cash back on top retailers|
The key to maximizing this great no fee card is the 5% cash back quarterly category bonuses and using the ShopDiscover shopping portal to earn 5% – 20% cash back. Unlike cards with a great sign up bonus, this card is a credit card to use for everyday earning and keep forever.
5% Cashback Bonus in rotational categories (example: gas, travel, restaurants, etc.) 1% for everything else – unlimited earning.
You get 5% cash back on up to $1,500 in purchases for each quarter. Anything over the set amount will automatically earn 1%. However, you must sign up either online or through the phone. Here are the cash back quarterly categories for 2013.
Here are last years:
- January – March: Gas stations, movies and museums
- April – June: Movies and restaurants
- July – September: Gas, movies and theme parks
- October – December: Department, electronics and toy stores
ShopDiscover Shopping Portal – 5%-20% cashback shopping portal
Discover has an absolute hard to beat cash back shopping portal with every major vendor you could want to buy from online. As a Discover It card member you have access to ShopDiscover with over 200 online retailers and can earn 5% to 20% cash back. They have the highest cash back from major retailers such as Sears, Walmart, Target, Groupon, and many more;
- No annual fee: Enjoy all the benefits and cash back rewards with no annual fee.
- 1% unlimited cash back on all other purchases: Much improved version from the previous version, you will receive an unlimited 1% rebate on all your purchases(your quarterly rotating categories still earn 5%).
- Cash back redemption: Redeem Cashback Bonus in the form of a direct deposit to your bank account or a credit to your Discover card account in $50 increments, starting at $50.
- Double cash back bonus: You can earn up to a double Cashback Bonus when redeeming your rebates for gift certificates from participating retailers. E.G. $40 rebate for a $80 Carnival Cruise or $80 Celebrity Cruises gift card; $40 rebate for a $100 certificate from Hyatt Hotels & Resorts; $20 rebate for a $40 Samsonite gift card.
- Link to Amazon.com: Use your Cashback Bonus to pay directly at Amazon.com with no minimum spending requirement.
- No foreign transaction fee: Carry this card with you overseas, and pay no foreign transaction fee! Other issuers can charge you up to 3%, but not with the Discover It Card!
- No penalty APR: This new exclusive benefit won’t raise your APR rate when you don’t pay on time. They will also won’t charge you any fee for your first late payment.
- U.S.-based call center service: You speak to a real person in seconds.
- Flight accident insurance: They will provide you $500,000 in flight accident insurance, as well as car rental insurance and many fraud and security protection services.
- $0 Fraud Liability Guarantee: Pay absolutely nothing if there are any unauthorized transactions on yourDiscover card.
- Flexibility: Choose your own due date plus you have until midnight EST to pay our Discover it by phone or online.
- Purchase Protection: All eligible purchases are protected for up to $500 during the first 90 days if they’re stolen or accidentally damaged.
- Extended Warranty: Extend the terms of the original U.S. manufacturer’s warranty and any purchased warranty for up to 1 extra year, on warranties of 3 years or less.
- Price Protection: They’ll refund up to a $500 difference if you find a lower price within 90 days when using your Discover It card.
- Return Protection: You can return any eligible purchase within 90 days for up to a $500 refund if the store refuses your return.
Even without a huge sign up bonus, I think this card is a must! This is a card that you get to keep for the long term. With no annual fee and the easy cash earning abilities of this card, it’s a slam dunk. Not to mention that Discover card is one of the easiest lenders to get approved for. If you are a student and just getting into this hobby, they also have a Discover It Student card that gives you the same awesome cash back benefits with no annual fee.
I would seriously encourage you to check out this card and add it to your bag of earning tools. You could max out each category and use the shopping portal to earn a nice stash of travel cash. I know I plan too!
- $75 cash back after you make $500 in purchases within the first three months from account opening.
- Fair. No annual fee. No overlimit fee. No foreign transaction fee. Pay up to midnight ET online or by phone on your due date without a fee. Plus, paying late won’t raise your APR.*
- Generous. 5% cash back on up to $1,500 in purchases for Online Shopping through December 2013 with free and easy sign-up. And 1% cash back on all other purchases.*
- Plus a Cashback ConciergeSM any time for a 1-on-1 online tour to help you get the most rewards based on how you use your card.
- Human. 100% U.S.-based customer service available any time.
- Safe. Because you’re never responsible for unauthorized charges with our $0 Fraud Liability Guarantee.
- 0% Intro APR* on purchases and balance transfers for 6 months. Then the variable purchase APR applies, currently 10.99% – 22.99%. A fee of 3% applies for each balance transferred.
- *Click “Apply” to see rates, rewards and other information.
|Purchase Intro APR||Purchase Regular APR||Balance Transfer Intro APR||Balance Transfer Regular APR||Annual Fee||Average Approved Score|
|0%||10.99% – 22.99%*||0%||10.99% – 22.99%*||$0||673|
|6 Months||Variable||6 Months||Variable||Lowest: 614†|
Learn more about the “Best Credit Card Category Bonuses” you can maximize on various rewards credit cards currently available. Put your spending on the right card and reap the benefits.