Discover it® Cash Back Credit Card

Discover it® Cash Back credit card (quarterly 5% cash back with no annual fee)

Welcome Offer

Welcome reward: unlimited 1:1 match of first-year cash back (Cashback Match)

For new cardmembers only. Eligible cash back processed within 365 days of approval is matched dollar for dollar, with the match posted within 2 billing cycles after that period. There is no minimum spending requirement or match cap. Rewards processed after the period, statement credits, rewards transferred from deposit accounts and closed accounts are excluded.

DISCOVER MATCH™ MECHANISM

How Unlimited Cashback Match™ works

Equal match of eligible first-year rewards

STEP 01

Earn regular rewards for the first 365 days

Eligible cash back processed within the first 365 days from approval counts toward the match. No minimum spending requirement; the transaction date may differ from the processing date.

STEP 02

Automatic 1:1 match after the period ends

After the first year ends, Discover automatically calculates eligible first-year rewards and provides an equal 1:1 match. No overall matching cap; no manual request is needed.

STEP 03

Posts within 2 billing periods after the end

Rewards are not doubled instantly on each purchase. They are automatically deposited within 2 billing periods after the matching period ends.

Illustrative effective first-year matched rewards

Effective first-year rewards after a 1:1 Match

Eligible U.S. merchants in activated quarterly categoriesCombined calendar-quarter spending cap of $1,500; requires activation and eligibility under the quarterly terms. Spending above the cap earns the general rate.

Regular rewards5%

After first-year MatchEffective first-year 10%

Other eligible general purchasesThe match is settled after the period ends and includes only eligible rewards processed during the matching period.

Regular rewards1%

After first-year MatchEffective first-year 2%

The example assumes the category cap is reached in all four quarters within the matching period: $300 in regular rewards, $600 including the match. Rewards are not guaranteed and depend on the approval date, transaction processing, category eligibility and spending.

Terms note: New cardholders only: eligible cash back processed within 365 days from approval receives an equal match, posted within 2 billing periods after the period ends. No minimum spend or matching cap. Rewards processed after the period, statement credits, rewards transferred from deposit accounts, and closed accounts are excluded. Quarterly caps still apply to designated bonus categories.

Card features and benefits

5% Cash Back on Quarterly Rotating CategoriesAfter quarterly activation, the first $1,500 in combined eligible purchases at U.S. merchants in the designated categories earns 5% cash back; purchases above the cap and other general purchases earn 1%. Manual Activation is required each quarter. Eligible first-year Cashback Match produces an effective rate of up to 10%. Note: official terms restrict the 5% bonus to U.S. merchants. Some cardholders report that certain overseas purchases may trigger 5% when their online payment or acquiring institution is registered in the United States; ordinary local overseas in-person spending has only the official 1% base rate.
Unlimited 1% Cash Back on All Other PurchasesPurchases outside quarterly bonus categories earn unlimited 1% cash back. After eligible first-year Cashback Match, the effective general-purchase rate is an unlimited 2%.
2026 rotating categories (current and announced quarters)Source-listed 2026 Q3 categories, through 9/30: Gas Stations, Transportation and Drug Stores earn 5%. Source-listed 2026 Q4 categories, from 10/1: Entertainment, Restaurants and Utilities earn 5%.
Capital One ecosystem benefitsMigrated or eligible cardholders can earn 5% cash back on hotel and rental-car bookings through Capital One Travel, 5% through Capital One Entertainment, and up to 15% at merchants through Capital One Offers.
0% Intro APR for 15 MonthsPurchases and balance transfers receive a 0% introductory APR for the first 15 months; balance-transfer fees apply. Afterward, a variable 17.49%–26.49% APR applies. The terms of the individual application offer control.

Additional benefits and explanations

No Annual Fee & No Foreign Transaction FeeNo annual fee or foreign transaction fee (No FTF) on international travel purchases or purchases on overseas websites.
Flexible Redemption with No ExpirationCash back does not expire while the account remains open. Redeem any amount for a Statement Credit, a direct bank deposit, or use it at Amazon or PayPal checkout.
$0 Fraud Liability & Card LockUnauthorized transactions may qualify for $0 fraud liability, subject to investigation. Giving someone access to the card does not make their transactions unauthorized. Card lock may still allow refunds, payments, interest, transfers, fees and transactions during system downtime. Continue to pay on time and review the account.
CreditWise & SSN AlertsFree CreditWise requires age 18 or older, a valid SSN that can be matched to a TransUnion credit file, and sufficient credit history. Some features depend on available data. The FICO Score 8 provided may not be the score used by a lender, and not every data breach is guaranteed to be detected.
Card protection noticeThe source states that the publicly listed product terms do not include traditional travel insurance, rental collision coverage (CDW), purchase protection or extended warranty. Do not assume these insurance benefits are included.