Discover it® Cash Back Review for 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.
This article is part of a larger series on Best Small Business Credit Cards.
The Discover it® Cash Back card is a personal rewards credit card that’s best for business owners who need a longer 0% APR period on both purchases and balance transfers. It charges no annual fee and comes with a low ongoing APR. This card offers an unlimited cash back match of all the rewards you earned at the end of your first year of card ownership.
Discover it® Cash Back
BEST FOR:
Double cash back on the first year’s purchases
Intro APR
0%
Regular APR
12.24% - 23.24% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon, and more, up to the quarterly maximum, each time you activate.
- Plus, earn unlimited 1% cash back on all other purchases—automatically.
- We'll match all the cash back you've earned at the end of your first year automatically. There's no signing up and no limit to how much we'll match.
Pros
- Excellent rewards rate on rotating bonus categories
- Double the highest rate for the first 12 months
- 0% APR period that’s longer than most cards
Cons
- Cardholders must enroll each quarter
- Bonus rewards are capped at $1,500 each quarter
- No purchase protection or extended warranty protection
- Account lock: Freeze your account in seconds to prevent new purchases with an on/off switch available on both the mobile app and website.
- Late fee waiver: You won’t pay a late fee the first time your payment is late. Late fees are up to $39 thereafter.
Intro APR
0%
Regular APR
12.24% - 23.24% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon, and more, up to the quarterly maximum, each time you activate.
- Plus, earn unlimited 1% cash back on all other purchases—automatically.
- We'll match all the cash back you've earned at the end of your first year automatically. There's no signing up and no limit to how much we'll match.
Pros
- Excellent rewards rate on rotating bonus categories
- Double the highest rate for the first 12 months
- 0% APR period that’s longer than most cards
Cons
- Cardholders must enroll each quarter
- Bonus rewards are capped at $1,500 each quarter
- No purchase protection or extended warranty protection
- Account lock: Freeze your account in seconds to prevent new purchases with an on/off switch available on both the mobile app and website.
- Late fee waiver: You won’t pay a late fee the first time your payment is late. Late fees are up to $39 thereafter.
Do you want to compare the features of one card to another? You can do that by checking off up to three cards on this page (see Discover it® Cash Back alternatives). Add them to your cart and view the details in a side-by-side comparison.
How We Evaluate Cash Back Credit Card
When evaluating cash back credit cards like the Discover it® Cash Back credit card, we first consider the ongoing and introductory rewards. We also look at the annual fee, introductory and ongoing annual percentage rates (APRs), and other card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 25 | 30 |
Introductory Rewards | 15 | 20 |
Annual Fee | 15 | 15 |
Features | 8 | 15 |
Introductory APR | 10 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 83 | 100 |
Who Is The Discover it® Cash Back Card Best For?
- Business owners who cannot qualify for a business credit card: The Discover it® Cash Back card is a personal credit card, but it can also be used for business purposes as long as you separate your business and personal purchases to make tax season easier.
- Business owners who need a longer 0% APR period: The Discover it® Cash Back credit card offers 0% introductory APR on both purchases and balance transfers for 15 months after opening an account.
The Discover it® Cash Back made it to our list of the best 0% APR business credit cards because it has an extended 0% APR for 15 months on both purchases and balance transfers, and it doesn’t charge an annual fee.
Discover it® Cash Back Fees
- Introductory APR: 0% APR on purchases on both purchases and balance transfers for the first 15 months after opening an account
- Ongoing APR: 11.99% to 22.99%
- Annual fee: $0
- Balance transfer fee: Intro fee of 3% of the transfer amount until May 10, 2022, with the 0% intro APR balance transfer offer—then 5% thereafter
- Foreign transaction fee: Not applicable
- Cash advance fee: $10 or 5% of the amount of each transaction, whichever is greater—APR is 24.99%
How to Make Payments on the Discover it® Cash Back
- Online: Just log in to your online account to make an online payment. You may make up to two payments per day, using different bank accounts. You can also use the online bill pay service from your bank account.
- Mobile app: You can use the Discover® mobile app to pay. You can text APP to DISCOV (347268) to download the app to your phone.
- Automatic payment: You can set up a recurring monthly automatic payment through your online banking account.
- Via phone: You can pay your credit card by phone by calling (800) DISCOVER or (800) 347-2683 at any time.
- Check by mail: You can also mail in your payment with the payment coupon on your statement.
Discover it® Cash Back Rewards
- 5% cash back in rotating categories for each quarter:
- Grocery stores and fitness club/gym memberships on up to $1,500 in purchases until March 2022
- Gas stations and Target on up to $1,500 in purchases from April to June 2022
- Restaurants and PayPal on up to $1,500 in purchases from July to September 2022
- Amazon.com and digital wallets on up to $1,500 in purchases from October to December 2022
- 1% cash back on all other purchases
- Unlimited 2x cash back match of all the cash back you’ve earned by the end of your first year
You can apply your rewards as a statement credit towards your credit card bill or as an electronic deposit into your bank account. You can also use your cash back to pay directly at Amazon.com and PayPal with no minimum amount required or redeem as partner gift cards starting at $5. You can also use it as a charity donation.
Discover it® Cash Back Additional Features
Freeze it® Account Lock
If you misplace your card, you can freeze your account through the mobile app or website with an on/off switch to prevent new purchases, cash advances, and balance transfers. When you freeze your account, new transactions won’t be authorized, including purchases, cash advances, and balance transfers. However, some activity will continue, including recurring bills, returns, credits, dispute adjustments, delayed authorizations, payments, credit card fees, interest, rewards redemptions, and other exempted transactions.
Zero Fraud Liability Guarantee
With the zero fraud liability guarantee, you’ll not be held accountable for unauthorized purchases on your Discover it® Cash Back card. You should exercise caution and practice reasonable care to protect your card from theft and should not share your card information with employees, relatives, or friends.
Free FICO® Credit Score
Your FICO® credit score, key factors, and other credit information are available on Discover.com and on your statement. Your FICO® Credit Score, key factors, and other credit information are based on data from TransUnion® and may be different from other credit scores and other credit information provided by different bureaus. You’ll see up to a year of your recent score online.
Discover® Identity Alerts
You have the option to receive identity alerts online at no additional cost. Discover will monitor your Experian® credit report and will notify you when a new inquiry or account is listed on your report. It also monitors thousands of Dark Web sites known for revealing personal information and will notify you if your Social Security number is found on such a website.
Pros & Cons of the Discover it® Cash Back
| PROS | CONS |
|---|---|
| Premium rewards on rotating bonus categories:You can earn 5% in rotating bonus categories every quarter, including purchases at Amazon.com, grocery stores, restaurants, gas stations, and when you pay using PayPal. | Bonus rewards are capped at $1,500: The 5% premium rewards for selected categories for each quarter are capped at $1,500. After that, you will earn the regular rate of 1% cash back. |
| Doubles your cash back for the first year: The Discover it® Cash Back credit card offers an unlimited cash back match, which will double the rewards you earned at the end of your first year after opening an account. | Bonus rewards should be activated every quarter: You need to activate your bonus rewards every quarter to be eligible for 5% cash back on the rotating categories. |
| Long 0% APR period on balance transfers and purchases: You can take advantage of interest-free financing for the first 15 months after opening an account on both purchases and balance transfers. | No purchase protection or extended warranties: The Discover it® Cash Back credit card does not offer purchase protection or extended warranties, unlike most other business credit cards. |
Discover it® Cash Back Alternatives
Bank of America® Business Advantage Customized Cash Rewards
The Bank of America® Business Advantage Customized Cash Rewards card is a great alternative if you want to choose the category where you earn premium cash back. This is best for business owners who spend on gas, office supplies, travel, TV or telecommunication services, computer services, business consulting services, and dining.
Business Advantage Cash Rewards Mastercard® credit card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Up to 3% cash back in a spending category of your choice
Intro APR
0%
Regular APR
12.24% - 22.24% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening―with no annual fee and cash rewards don't expire.
- Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases.
- You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- 0% Introductory APR on purchases for your first nine billing cycles.
- Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account.
- Get 75% more cash back on every purchase when you're a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.
Pros
- Flexible redemption options
- No annual fee
- Sign-up bonus
Cons
- Premium rewards are capped at $50,000 each year
- Earns top rewards in only one spending category only
- Short 0% APR period
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
Intro APR
0%
Regular APR
12.24% - 22.24% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening―with no annual fee and cash rewards don't expire.
- Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases.
- You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- 0% Introductory APR on purchases for your first nine billing cycles.
- Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account.
- Get 75% more cash back on every purchase when you're a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.
Pros
- Flexible redemption options
- No annual fee
- Sign-up bonus
Cons
- Premium rewards are capped at $50,000 each year
- Earns top rewards in only one spending category only
- Short 0% APR period
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
American Express Blue Business CashTM
The American Express Blue Business CashTM card is ideal for those who want to earn fixed-rate cash back. It offers 2% cash back on all eligible purchases, up to $50,000 per calendar year. This card offers a 0% introductory APR for 12 months on all purchases as well as a $250 statement credit after spending $3,000 within the first three months after opening an account.
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
U.S. Bank Triple Cash Rewards World Elite Mastercard®
The U.S. Bank Triple Cash Rewards World Elite Mastercard® is a great choice for those who want a long APR period, a sign-up bonus, and premium rewards. This small business credit card offers a 0% APR for the first 15 billing cycles for both purchases and balance transfers as well as $500 cash back after spending $4,500 in the first 150 days after opening an account.
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
BEST FOR:
0% APR for 15 billing cycles
Intro APR
0% for first 15 billing cycles
Regular APR
14.74% - 23.74% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited Time Offer: Earn $500 in cash back. Just spend $4,500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cellphone service providers, and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center.
- No limit on total cash back earned
- Rewards never expire
- Earn an annual $100 statement credit for recurring software subscription expenses, such as FreshBooks or QuickBooks.
- 0% Intro APR on purchase and balance transfers for 15 billing cycles. After that, a variable APR currently 14.24% to 23.24%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus into equal monthly payments with U.S. Bank ExtendPay™Plan.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional 1 year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
0% for first 15 billing cycles
Regular APR
14.74% - 23.74% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited Time Offer: Earn $500 in cash back. Just spend $4,500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cellphone service providers, and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center.
- No limit on total cash back earned
- Rewards never expire
- Earn an annual $100 statement credit for recurring software subscription expenses, such as FreshBooks or QuickBooks.
- 0% Intro APR on purchase and balance transfers for 15 billing cycles. After that, a variable APR currently 14.24% to 23.24%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus into equal monthly payments with U.S. Bank ExtendPay™Plan.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional 1 year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
For other credit card alternatives, visit our guide to the best small business credit cards.
Bottom Line
While the Discover it® Cash Back card is a personal credit card, its extended 0% APR for 15 months on both purchases and balance transfers make it a desirable credit card for many business owners. To benefit the most from this card, you should separate your business and personal purchases from the start. Find other credit card options by visiting our Credit Card Marketplace.
