You won’t pay an annual fee to keep the credit card in your wallet, and there’s no need to worry about rotating bonus categories or complicated redemption strategies. This is a straightforward cash-back card that offers 1% cash back on everything and 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Discover matches your rewards at the end of the first year.
| Card | APR | Annual Fee | Intro Bonus | Credit Needed | Key features |
| Discover it® chrome | 0% for 14 months, then ongoing 13.49% - 24.49% Variable APR | $0 | Discover automatically matches all the cash back you’ve earned at the end of your first year | Good to excellent | Cash back |
What we like about it
The credit card is a simple rewards card with no annual fee. Cash-back rewards, earned at 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and 1% cash back on all other purchases, never expire. At the end of your first year as a Discover it® chrome card user, Discover will match the cash back you’ve earned throughout the year as a bonus.
There aren’t any restrictions about when you redeem your rewards, and there are no minimum redemption amounts. You can even use your Discover it® chrome cash-back rewards at Amazon.com at checkout.
The Discover it® chrome card is also an excellent balance transfer option, with 0% introductory APR for the first 14 months on balance transfers and purchases, then an ongoing 13.49% - 24.49% Variable.
Things to consider
To get the credit card, you’ll need good to excellent credit scores.
For those who frequently travel outside the United States, the Discover it® chrome card may not be the best choice as a sole credit card. Discover isn’t accepted in many countries, including the majority of Africa, most countries directly east of China and some South American countries.
Cash-back rewards at the 2% level convert to 1% when you reach the maximum of $1,000 in purchases each quarter. Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases. So, even though it’s a nice rate of rewards, you can earn just $20 in cash-back rewards per quarter at 2% cash back.
For the first 14 months that you own the card, you’ll get an introductory interest rate of 0% on new purchases and balance transfers. There’s a 3% balance transfer fee, up to 5% fee on future balance transfers (see terms). After the introductory period, you’ll pay 13.49% - 24.49% Variable APR if you decide to carry a balance with the card.
Discover it® chrome Credit Card cash back details
The card is a cash-back card with no annual fee. You’ll get 1% cash back on every purchase made with the card, without limits. The first $1,000 in combined purchases each quarter you spend at gas stations and restaurants earns 2%. After you reach the spending limit during a quarter, the rewards rate in those categories reverts to 1%. At the end of your first year, after your 12th statement, Discover will match your cash-back earnings without limits.
Redeeming rewards is simple. You can choose to credit your account when your cash-back balance is just $.01. You can pay select merchants with your cash back, deposit cash-back rewards into an account, use cash back as a charitable donation or use it to purchase eCertificates and gift cards from Discover’s partners.
Discover it® chrome Credit Card fees
The Discover it® chrome credit card is light on fees. There’s no annual fee, no foreign transaction fee, no overlimit fee and Discover won’t charge you a late fee the first time to fail to pay your bill on time. Making a late payment won’t trigger a penalty APR, like many other cards.
If you choose to transfer debt from other credit cards, you’ll pay a 3% balance transfer fee, up to 5% fee on future balance transfers (see terms).
How does it compare to other cash back cards?
If you think the cash-back card is a good choice, consider the Capital One® Quicksilver® Cash Rewards Credit Card and the Citi® Double Cash Credit Card. Like the Discover it® chrome card, both of these cards have no annual fee and no overlimit fee. Late payments with the Capital One® Quicksilver® Cash Rewards Credit Card won’t increase your APR, and there aren’t any foreign transaction fees with this card. The Citi® Double Cash Credit Card won’t charge you a late fee the first time you miss a payment due date.
With the Citi® Double Cash Credit Card, you’ll earn 2% cash back on all purchases, but you’ll get 1% when you use the card and 1% when you pay the bill. There are no limits or caps on earnings with this card, unlike the Discover it® chrome card, which imposes a $1,000 limit on the 2% reward level per quarter.
With the , you’ll earn a flat 1.5% cash back on every purchase without limits. This card also offers an introductory 0% APR on balance transfers and purchases for 15 months, then an ongoing 15.74% - 25.74% (Variable).
Discover it® chrome is the only cash-back card offering a 100% match of the rewards earned at the end of your first year of owning the card. This feature, plus a good introductory 0% APR on purchases and balance transfers within the first 14 months and then an ongoing 13.49% - 24.49% Variable makes the Discover it worthy of a place in your wallet.
The bottom line
The credit card is a great option for people who want a simple cash-back card. While the 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter is a nice perk (then, 1%), the per quarter limit lessens its value. The year-end cash-back match is where this card excels, making it an ideal card for everyday purchases. For those with good to excellent credit who want a straightforward cash-back card, the Discover it® chrome deserves a place on their list of options.
Editorial Note: Compensation does not influence our recommendations. However, we may earn a commission on sales from the companies featured in this post. To view a list of partners, click here. Opinions expressed here are the author's alone, and have not been reviewed, approved or otherwise endorsed by our advertisers. Reasonable efforts are made to present accurate info, however all information is presented without warranty. Consult our advertiser's page for terms & conditions.
The post Discover it® Chrome Credit Card Review appeared first on The Simple Dollar.
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