Editor’s note: This is a recurring post with regularly updated card details.
Discover it® Cash Back is a personal credit card that comes with a $0 annual fee and a 15-month long 0% APR on purchases and balance transfers. It lets you earn up to 5% cash back on your purchases, which you can redeem as a statement credit, an electronic deposit to a linked account, gift cards, and more.
On top of that, you’ll get an unlimited dollar-to-dollar match on all rewards earned by the end of your first year. Since it’s a personal credit card, you need to keep your personal and business expenses separate to avoid tax issues.
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| Intro APR | 0% |
|---|---|
| Regular APR | 18.24% to 28.24% variable |
| Annual Fee | $0 |
| Credit Needed | Good - Excellent |
- 5% cash back in rotating categories for each quarter.
- 1% cash back on all other purchases
- Freeze it®: You can freeze your account on the Discover mobile app or website to prevent new purchases, cash advances, and balance transfers if you misplace your card
- $0 fraud liability guarantee: Discover will not hold you responsible for unauthorized purchases made with your Discover it® Cash Back Credit Card.
- Free FICO® credit score: Your FICO® credit score, key factors, and other credit information are available on Discover.com and your statement. Note that these are based on data from TransUnion® and may differ from other credit scores and other credit information provided by different bureaus.
- Discover® identity alerts: You can get an alert from Discover on the following: Daily monitoring of your Experian® credit report and an alert when a new inquiry or account is listed on your report, daily monitoring of dark websites, and if your Social Security number is found on those sites.
When grading cash back business credit cards like the Discover it® Cash Back Credit Card, we first rated the ongoing rewards. We also evaluated the introductory rewards, annual fees, other features, and introductory and ongoing APRs.
| Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
| Ongoing Rewards | 25 | 30 |
| Introductory Rewards | 20 | 20 |
| Annual Fee | 15 | 15 |
| Additional Features | 10 | 15 |
| Introductory APR | 10 | 10 |
| Ongoing APR | 8 | 10 |
| Total Score | 88 | 100 |
Who the Discover it® Cash Back Credit Card Is Best For
- Business owners who cannot qualify for a business credit card: Discover it® Cash Back Credit Card is a personal credit card that can also be used for business purposes—just keep your business and personal transactions separate to avoid problems come tax season. Read our article on how to separate your business and personal finances for guidance.
- Business owners who need to make a large purchase or consolidate debt: This is one of the few credit cards that come with a long interest-free financing period on both purchases and balance transfers—you can enjoy 0% APR on both transactions for 15 months.
Check out our
below if this card is not right for you.
Discover it® Cash Back Credit Card Rewards
- Unlimited cash back match: Automatically receive an unlimited dollar-to-dollar match of all the cash back you earn by the end of your first year as a welcome offer
- 5% cash back
- January to March: Restaurant and drug stores
- April to June: Gas stations and electric vehicle (EV) charging stations, home improvement stores, and public transit
- July to September: Walmart and grocery stores
- October to December: TBA on September 15
- 1% cash back on all other eligible purchases
Rewards Calculator
Find out how much cash back you can possibly earn with the Discover it® Cash Back Credit Card. Input your expected expenses based on the categories in our calculator below. Note that the “premium categories” will change every quarter. Check the expense categories considered premium for each quarter to ensure that you’re getting the correct calculations.
How to Redeem Rewards
You may redeem your cash back at any time as a statement credit, a charitable donation to select charities, and an electronic deposit to an eligible checking or savings account that you designate. You can also redeem your cash back to pay at select merchants (visit www.discover.com/redeem for available merchants) or for rewards for gift cards at popular brands, starting at $5.
Discover it® Cash Back Credit Card Features
Security
- $0 fraud liability guarantee: This card rewards you with peace of mind because you will not be held responsible for unauthorized purchases made with your card.
- Free Social Security number alerts: You will receive alerts if your Social Security number is found on any of thousands of dark websites.
- Free online privacy protection: When activated in the mobile app, your personal info will be regularly removed from select people-search websites that could sell your personal data.
- Freeze it®: If you misplace your card, this feature prevents new purchases, cash advances, and balance transfers. You can switch it on or off through the mobile app.
Other Services
- Free FICO® credit score: Find your FICO® credit score, key factors, and other credit information on Discover.com and your statement. Note that these are based on data from TransUnion® and may be different from other credit scores and other credit information provided by different bureaus.
- Discover® identity alerts: Enjoy daily monitoring of your Experian® credit report and receive an alert when a new inquiry or account is listed on your report.
- Instant lost card replacement: Request free overnight shipping to replace a lost card.
Discover it® Cash Back Credit Card Fees
APR
- Introductory on purchases: 0% on purchases for the first 15 months after opening an account
- Introductory on balance transfers: 0% for 15 months from the date of the first transfer—transfers must be posted to your account by December 10, 2024, for this to apply
- Ongoing on purchases and balance transfers: 18.24% to 28.24% variable—adjusts with the prime rate (minimum interest charge is 50 cents)
- Cash advance: 29.99% variable—adjusts with the prime rate
- Penalty and when it applies: None
Fees
- Annual: None
- Balance transfer: Intro fee of 3% of the transfer amount until Dec. 10, 2024, with the 0% intro APR balance transfer offer—then 5% thereafter
- Cash advance: $10 or 5% of the amount of each cash advance, whichever is greater
- Late payment: $0 for the first time you pay late; up to $41 thereafter
- Returned payment: Up to $30
Your due date is at least 25 days after the close of each billing cycle (at least 23 days for billing periods that begin in February).
- Online: 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.
- Discover mobile app: Use the Discover iOS or Android mobile app to make on-the-go payments.
- Phone: Pay your credit card by calling (800) DISCOVER or (800) 347-2683 at any time. Discover has no pay-by-phone convenience fee.
- Nearest Discover branch: Visit the nearest Discover branch during normal business hours.
- Mail: Mail your check to the address on the payment coupon at the bottom of your statement. Alternatively, if you can’t find the address, you can mail your check with your account number on the “memo” line to:
Discover Financial Services
PO Box 6103
Carol Stream, IL 60197-6103
Discover it® Cash Back Credit Card Alternatives
U.S. Bank Triple Cash Rewards Visa® Business Card
| Intro APR | 0% intro on purchases for 12 billing cycles |
|---|---|
| Regular APR | 17.24% - 26.24% Variable |
| Annual Fee | $0 |
| Credit Needed | Excellent, Good |
- Earn $750 in cash back. Just spend $6,000 on the Account Owner's card in the first 180 days of opening your account.
- Earn 3% cash back on eligible purchases at gas and EV charging stations (transactions of $200 or less)*, office supply stores, cell phone service providers and restaurants (*excludes discount stores/supercenters and wholesale clubs).
- 1% cash back on all other eligible purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Center when using your card.
- Take control of your card spend with U.S. Bank Spend Management—a game-changing platform for monitoring and managing business expenses.
- No limit on total cash back earned.
- Redeem Cash Rewards right away or save them for later. Cash Rewards do not expire as long as the account remains active.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or QuickBooks.
- Terms and conditions apply.
- 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 one 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.
- U.S. Bank ExtendPay® Plan: Pay off your eligible balance over time with this feature without interest — just pay a small monthly fee
This card will give you a $100 annual statement credit for software subscriptions, such as QuickBooks and FreshBooks, making it ideal for businesses with recurring software purchases. On top of that, you can save on credit costs because it comes with $0 annual fees, 0% purchase APR for the first 12 months, and up to 5% cash back. You can also take advantage of the U.S. Bank ExtendPay® Plan feature, which lets you pay off your eligible balance without interest—just a small monthly fee.
American Express Blue Business Cash™
| Intro APR | 0% on purchases |
|---|---|
| Regular APR | 16.74% - 28.49% Variable |
| Annual Fee | No annual fee |
| Credit Needed | Excellent, Good |
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 16.74% – 28.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on the first $50,000 of purchases each calendar year, 1% thereafter. 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*.
- * The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee. Terms Apply. Learn More.
- 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. (Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.)
It features Expanded Buying Power, which lets you spend over your credit limit when you need to. The amount you can spend adjusts based on your credit card spending, payment history, credit score, and other financial factors. You can also earn up to 2% cash back, which will be automatically credited to your billing statement. Plus, it comes with $0 annual fees and 0% purchase APR for the first 12 billing cycles.
Bank of America® Business Advantage Customized Cash Rewards
| Intro APR | 0% 9 billing cycles |
|---|---|
| Regular APR | 17.49% - 27.49% Variable APR on purchases |
| Annual Fee | $0.00 |
| Credit Needed | Excellent |
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn 3% cash back in the category of your choice: gas stations & EV charging stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 1% cash back on all other purchases.
- You'll earn 3% cash back on purchases in the category of your choice and 2% cash back on dining purchases on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for Preferred Rewards for Business Platinum Honors tier. That means you could earn up to 5.25% cash back in your selected choice category and up to 3.5% cash back on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
- No annual fee.
- Choose how to redeem your cash rewards-as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don’t expire as long as your account remains open.
- To change your choice category for future purchases, you must go to the Mobile Banking app or Business Advantage 360, our small business online banking. You can change it once each calendar month, or make no change and it stays the same.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% to 28.49% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
If you want to choose the expense category on which you can earn premium rewards, this card is your best bet. You can earn 3% cash back on the category of your choice, including gas stations and EV charging stations, office supply stores, travel, TV/telecom and wireless, computer services, and business consulting services.
What’s more, you’ll receive up to 75% more rewards if you have a Bank of America business checking account and qualify for the Preferred Rewards for Business program. For more information, read our Bank of America business checking review.
Frequently Asked Questions (FAQs)
What is a cash back match, and how do I earn it?
Cash back match is Discover’s way of rewarding you for opening a credit card account, which will match all the cash back you earn at the end of your first year automatically. For instance, if you earn $200 cash back after your first year, you will receive another $200 as a bonus. There’s no need to sign up to be eligible for this welcome offer.
Can I redeem my rewards during my first year and still get a cash back match?
Yes, you can redeem your earned cash back at any time and still receive a full cash back match at the end of your first year. Discover will match all your earned cash back (without maximum limits), regardless of whether or not they were already redeemed.
How does the premium 5% cash back work?
You will earn 5% cash back on rotating categories, which change every quarter. Note that you need to activate this program each quarter through your online account to be eligible.
Here are the premium rewards expense categories per quarter for this year:
- January to March: Restaurant and drug stores
- April to June: Gas stations and EV charging stations, home improvement stores, and public transit
- July to September: Walmart and grocery stores
- October to December: TBA on September 15
Bottom Line
Discover it® Cash Back Credit Card allows you to save on costs through its long 0% APR period, $0 annual fee, and lucrative rewards. Since it’s a personal credit card, be mindful of what you charge. It is a great option if you know how to organize your finances carefully, and to avoid confusion, it’s best to use it solely for business purposes and have another card dedicated to your personal expenses.
Fit Small Business has partnered with CardRatings for our coverage of credit card products. Fit Small Business and CardRatings may receive a commission from card issuers.
To see rates & fees for the American Express cards
American Express Blue Business® Cash™
American Express Blue Business® Plus
