Discover it® Chrome review
This card has evolved into a market leader for cash-back rewards. Cardholders can take advantage of bonus cash back on eligible purchases at gas stations and restaurants, up to the quarterly limit.
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Credit Score: credit_score_neededKey Features
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- New cardholders receive a match on all the cash back earned at the end of their first year of credit card ownership, which makes it easy to accumulate rewards.
- This card offers a intro_apr_rate,intro_apr_duration intro_apr_duration on purchases and a balance_transfer_rate balance_transfer_duration_months on balance transfers (then, RegAPR).
- 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. Paying late also will not increase your APR.
- Discover it(R) Chrome offers 2% back at restaurants and gas stations on up to $1,000 in combined purchases quarterly, but if you spend more than that on gas or eating out, you could likely realize more rewards with a card that offers a higher cap.
Discover it(R) Chrome rewards
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 combined 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(R) 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, this card offers a intro_apr_rate,intro_apr_duration intro_apr_duration on purchases and a balance_transfer_rate balance_transfer_duration_months on balance transfers (then, RegAPR).
What are the benefits of Discover it(R) Chrome?
Cash back redemption options
Unlike many cash back rewards cards on the market, the Discover it(R) 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.
Security features
The Discover it(R) 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.
Discover it(R) Chrome foreign transaction fees
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(R) 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(R) Chrome card instead.
Discover it(R) Chrome potential downsides
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 millions of merchants who do accept them today and that number is growing both domestically and internationally.
Discover it(R) Chrome credit score requirements
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(R) Chrome card may be difficult.
How Discover it(R) Chrome compares to other credit cards
Discover it(R) Chrome vs. Discover it(R) Cash Back
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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(R) Chrome card. Discover it(R) Cash Back earns 5% cash back in rotating categories (such as gas stations, grocery stores, restaurants, and online shopping) each quarter (up to the quarterly maximum of $1,500 spent 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(R) Chrome card, Discover it(R) Cash Back matches all cash back earned in the first year for all new card members. That means that all that 5% cash back earned in the rotating quarterly categories is essentially equal to 10% cash back in those categories for your first year. Both cards also have flexible redemption options and no foreign transaction fees. Discover it(R) Cash Back has balance_transfer_rate intro_apr_duration on purchases and balance transfers, then RegAPR.
Discover it(R) Chrome vs. Capital One(R) Quicksilver(R) Cash Rewards Credit Card
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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(R) 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 limited-time offer of $300 in welcome bonuses! Enjoy a $100 credit to use towards flights, stays and rental cars booked through Capital One Travel during your first cardholder year. Plus, earn a $200 cash bonus once you spend $500 on purchases within the first three months from account opening.
Is Discover it(R) Chrome a good credit card?
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.
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