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With cash back earned in popular everyday spending categories and no annual fee, the Discover it® chrome card has evolved into a market leader for cash back incentives. With the Chrome card, cardholders earn 2% cash back on purchases at gas stations and restaurants (on up to $1,000 in combined purchases each quarter), and 1% cash back on all other purchases. And for new cardholders, the Discover it® Chrome will match all the cash back you’ve earned in the first year of card ownership, at the end of the year.
That means if you’ve accumulated $300 in cash back throughout your first year of card membership, Discover will match it - making your total cash back $600 - automatically. To sweeten the deal, Discover it® Chrome offers 0% introductory APR for 14 months on purchases and balance transfers (then 13.49% - 24.49% Variable APR).
Unlike many cash back rewards cards on the market, the Discover it® chrome card’s cash back never expires and has many flexible cash back redemption options. The flexibility to redeem your cashback rewards for cash at any time, and in any amount is a huge benefit of the card. You can also use your rewards at Amazon.com checkout, using the Pay with Points feature. Other ways to redeem your cash back bonuses include a credit to your account, an electronic deposit to your bank account, or a donation to select charities.
The Discover it® chrome card also offers some great security features. Discover offers the ability to freeze your credit card account in seconds by utilizing a simple on/off switch either on Discover's mobile app or website to prevent new purchases. Discover also offers a $0 Fraud Liability Guarantee so you're never responsible for any unauthorized purchases. The Chrome card also comes with the ability to activate free alerts that notify you if your social security number is found on any of thousands of Dark Web sites.
Having no foreign transaction fees is a feature that you will normally find in luxury travel rewards credit cards that also have premium annual fees. The Discover it® chrome card is one of the few no-annual-fee cash-back rewards cards that has no foreign transaction fees. What this means is when you are traveling internationally, you can use your Chrome card and you won’t be on the hook for additional fees on foreign transactions..
Oftentimes cards will have a foreign transaction fee of around 3% on any international purchases made. So if you were to spend $5,000 while abroad, you could end up shelling out around $150 on foreign transaction fees with a different card, or you could save that money by using the Discover it® Chrome card instead.
If you're in a bit of a crunch come payment time, rest easy; Discover won't charge you a fee on your first late payment. So if you made a mistake and forgot to pay your bill or you just aren’t able to pay on time, the first late payment won’t come with a late payment fee. Moving forward there is no overlimit fees and a late payment won't raise your APR.
While Discover it® chrome is a good no-annual-fee option if you spend a decent amount on gas and at restaurants, these cash back categories have caps, so this might not be the card for you if you spend exuberantly in these categories each quarter. Because of the match offer, this card has a lot to offer during your first year as a cardholder, but if you start spending over the $1,000 quarterly caps, it may be wise to look for a rewards card that fits your spending patterns more closely.
Another thing to look out for: Not Everyone Accepts Discover. Despite being around since the mid-1980s, Discover cards are still not accepted everywhere, but the good news is there are 9.2 million merchants who do accept them today and that number is growing both domestically and internationally.
|Cash Back on Gas||Cash Back on Groceries||Cash Back on Other|
The Discover it® chrome requires good to excellent credit to get approval, but other factors are considered in the application process as well, including payment history of revolving credit, your total open cards, and the average age of accounts open.
The credit agency Experian considers a good FICO score anything that’s above 670, but having a score above 740 or even 800 may further increase your chances of approval. Please note though that these numbers can vary between different bureaus.
If you have limited credit history or are currently building your credit, getting approved for the Discover it® Chrome card may be difficult.
If you are looking for a no-annual-fee card with more cash back earning potential, the Discover it® Cash Back card is a great alternative to the Discover it® Chrome card. The Discover it® Cash Back earns 5% cash back in rotating categories (such as gas stations, grocery stores, restaurants, and Amazon.com) each quarter (up to the quarterly maximum each time you activate) as well as 1% cash back on all other purchases. This is much higher than the Chrome card’s 2% cash back earned at gas stations and restaurants (on up to $1,000 in combined purchases each quarter), and 1% cash back on all other purchases.
Like the Discover it® Chrome card, the Cash Back card matches all cash back earned in the first year by new cardholders. At the end of your first year, Discover matches the 5% earned in select categories– meaning you essentially earn 10% cash back in those categories in the first year. Both cards also have flexible redemption options and no foreign transaction fees, and like the Discover it® Chrome, the Discover it® Cash Back has intro 0% APR for 14 months on purchases and balance transfers, then 13.49% - 24.49% Variable.
The Discover it® Student chrome shares many similarities with the Discover it® Chrome card. Both cards have no annual fee, no foreign transaction fees, and cash back earned on every purchase. The cards earn cash back at the same rate of 2% earned at gas stations and restaurants (on up to $1,000 in combined purchases each quarter), and 1% cash back on all other purchases. Both cards are offering the same introductory bonus where all cash back earned during the first year will be matched, dollar-for-dollar, by Discover, at the end of your first year as a cardholder. That means $200 in cash back actually turns out to be a $400 cash back bonus.
Where the cards differ is that the Discover it® Chrome card is for individuals with more established credit and includes unique perks like a long 0% APR intro period (Student also has an intro 0% APR offer, it’s just shorter, at six months, and only for purchases, not balance transfers. After the intro period, 19.49% Variable APR will apply.). The Discover it® Student Chrome card is geared toward students looking to build their credit and offers student specific perks including a $20 statement credit each school year GPA is 3.0 or higher for up to five years.
For straightforward cash back earning on all purchases and a solid new cardholder bonus, the Capital One® Quicksilver® Cash Rewards Credit Card is worth your consideration. The Quicksilver® card earns 1.5% cash back on every purchase, so you won’t have to worry about opting in to rotating quarterly categories or having to keep track of tiered earnings. While this is lower compared to the Discover it® Chrome’s tiered earning of 2% on gas and restaurants, the Quicksilver card doesn’t have caps on cash back earnings. The Chrome card only earns 2% on up to $1,000 in combined gas and restaurant purchases each quarter, after which you will only earn 1% cash back.
The no-annual-fee Quicksilver® card also has a welcome offer for new cardholders of $150 after spending $500 on purchases during the first three months of card membership, and 0% intro APR on purchases and balance transfers for 15 months, then 15.74% - 25.74% (Variable).
With many benefits and few downsides, yes, the Discover it® chrome card is a good credit card. The Chrome card comes with no annual fee, no foreign transaction fees, bonus cash back earned in frequent spending categories, and all cash back matched in the first year. The Chrome card is a great card for even the occasional credit card user, but may not be an ideal fit for someone who spends excessively in the gas and restaurant categories since there is a quarterly cap on the 2% earning rate.