The Discover it Credit Card offers clear benefits for managing your money. You get cashback on every purchase, with no annual fee, making saving easy. Strong security features protect your information, giving you peace of mind.
Right now, there are special offers that make this card even more appealing. You can take advantage of these deals to maximize your savings. Keep reading to learn more about the detailed benefits of Discover it Credit Card and how it can improve your financial well-being.
What Benefits Does the Discover It Card Have?
The Discover credit card has several features that attract many people. For your better understanding, let’s take a closer look at the benefits of Discover It card:
| Feature | Details |
|---|---|
| Cash Back Rewards | Earn 5% cash back on rotating quarterly categories and 1% cash back on all other purchases. |
| Security Deposit Refund | Get back your initial security deposit with responsible card usage. |
| No Annual Fee | Discover It credit card holders pay no annual fee. |
| Credit Score Monitoring | Accepted worldwide, ensuring accessibility in various locations. |
| APR Offer | Enjoy a 0% intro APR for 15 months on purchases. |
| Security Features | Includes free credit monitoring, online purchase protection, purchase notifications, and dark web monitoring for your Social Security Number. |
| Wide Acceptance | Accepted globally, ensuring accessibility in various locations. |
1. Cashback Rewards
The Discover It Secured Credit Card lets you earn cashback on every purchase, turning everyday spending into a rewarding experience.
You’ll earn cashback on categories that change every few months, such as gas stations, grocery stores, and restaurants. This not only helps you save money but also encourages responsible credit card use.
2. No Annual Fee
The Discover It credit card stands apart from others by not charging an annual fee, making it an affordable choice for those who love earning cashback. This feature is especially advantageous for individuals on tight budgets or looking to boost their credit scores.
3. Security Deposit Refund
When you use the Discover It credit card responsibly—paying your bills on time and demonstrating good financial habits—you can expect Discover It to refund your initial security deposit.
This feature sets it apart from other credit card providers, offering significant benefits to individuals looking to improve their credit scores or manage their finances more effectively.
4. FICO Credit Score Monitoring
Understanding and staying on top of your credit score is essential for financial health. The Discover It Secured Credit Card not only gives you a credit card but also provides access to your FICO credit score.
Regular updates allow you to track your credit improvement, identify areas for enhancement, and make well-informed financial decisions. This transparency empowers cardholders to effectively manage their credit journey.
5. Wide Acceptance
The Discover It Secured Credit Card is widely accepted, providing flexibility in card usage. Whether for daily shopping, online purchases, or travel expenses, cardholders can count on its broad merchant acceptance. This enhances the card’s usability, making it a dependable financial tool for various needs.
6. Customer Friendly Policies
The Discover It credit card includes several customer service policies:
- No annual fee
- Cash Back Match offer
- Flexible cashback redemption
- Purchase protection
- Security features
- Easy account management
- Price protection
These features are designed to improve user experience and offer additional value to cardholders.
7. Additional Benefits
The Discover It credit card provides a variety of additional benefits, such as:
- Double cash back at gas stations and restaurants for the first year
- Free monthly access to your FICO score
- Purchase protection, which covers theft or damage for up to 90 days
- Option to freeze your account in case of lost or stolen cards
- Travel benefits
Benefits Discover cards don’t have
Discover offers a variety of benefits, but there are some popular credit card perks that Discover does not provide.
For example, Discover discontinued general travel benefits such as auto rental insurance and flight accident insurance in early 2018. If you travel often, you may find better options with other travel credit cards we recommend.
Additionally, Discover has also ended purchase protection, return protection, and extended warranty benefits in recent years. While other card issuers have also made similar cuts, many still offer these valuable protections.
Discover Credit Card Benefits For Students
Discover credit cards offer several benefits tailored for students, making them a popular choice among young adults new to credit. Here’s a breakdown of these benefits:
Cashback Rewards: Discover cards often feature cashback rewards, allowing students to earn money back on everyday purchases. This includes 5% cash back on rotating categories like gas stations, grocery stores, restaurants, and more, and 1% cash back on all other purchases.
No Annual Fee: Many Discover cards for students come with no annual fee, making them budget-friendly for those new to credit cards.
Credit Education: Discover provides tools and resources to help students understand and build their credit. This includes free access to their FICO® Credit Score, which can be a valuable learning tool.
Security Features: Discover prioritizes security with features like a $0 Fraud Liability Guarantee, ensuring students are not responsible for unauthorized purchases on their cards.
Flexible Redemption Options: Students can easily redeem their cashback rewards with options like statement credits, direct deposits to a bank account, or gift cards.
Good Grade Rewards: Discover offers incentives for students who maintain good grades, providing a cashback bonus for achieving a certain GPA.
Travel Benefits: While general travel benefits like travel insurance are not typically offered, Discover cards are widely accepted internationally, making them convenient for student travel.
Frequently Asked Questions
How much cashback can I earn from the Discover It card?
You can earn up to 5% cashback on purchases in rotating quarterly categories, up to $1,500 per year. For all other purchases, you earn 1% cashback.
What are some other benefits besides cashback?
Besides cashback, the Discover It card offers free credit score monitoring, purchase protection, global acceptance, and user-friendly features for managing your account and redeeming rewards.
How can this card help me to build good credit?
The Discover It card rewards responsible credit behavior, such as on-time payments, which can improve your credit score. It’s also a secured card option for those starting out or rebuilding credit.
How does the cashback reward system work?
You earn cashback on specific categories that change every three months. To maximize rewards, you need to activate these categories each quarter.
Is the security deposit refundable and how does it work?
Yes, the security deposit for the Discover It Secured Credit Card is refundable. Responsible card use, timely payments, and meeting terms and conditions can qualify you for a refund and potentially upgrade to an unsecured card.
How often can I access my FICO credit score?
Cardholders can access their FICO credit score regularly, typically through monthly statements or online account portals. Monitoring your score helps in financial planning.
Are there any hidden charges associated with this card?
No, the Discover It Secured Credit Card does not have an annual fee or foreign transaction fees. It’s important to review terms and conditions for other potential charges like late payment fees or cash advance fees.
What are the disadvantages of Discover it credit card?
The Discover It credit card has some drawbacks to consider: limited global acceptance compared to other cards, quarterly activation required for 5% cashback categories, higher interest rates on balances, infrequent automatic credit limit increases, and variable customer service experiences.
Final Verdict
The Discover It credit card offers practical benefits beyond cashback rewards. It includes features like free credit score monitoring, purchase protection, and acceptance worldwide.
This helps users manage their finances effectively while building or improving their credit scores.
There are no annual or foreign transaction fees, and the cashback system is clear and straightforward.
Whether you want to earn rewards on everyday purchases or improve your credit history, the Discover It card is a reliable choice in today’s credit card options.