Discover Cashback Match: The Perk That Doubles Your Rewards for a Year
Are you looking for a credit card that rewards you for every purchase you make? Look no further than the Discover it Cash Back and Discover it Chrome cards.
With these cards, you can earn cashback on every purchase you make. And with Discover Cashback Match, you can earn double the rewards for an entire year.
In this article, we will explore the benefits of Discover Cashback Match, the rewards program for Discover it Cash Back and Discover it Chrome cardholders, and the limits on bonus cash back.
Discover Cashback Match Overview
Discover Cashback Match is a perk for new Discover it Cash Back and Discover it Chrome cardholders. With Cashback Match, you can double your cash-back rewards during the first year of your card membership.
That means, if you earn $100 in cash-back rewards in the first year, Discover will match it with another $100, giving you a total of $200 cash back. The best part about the Discover Cashback Match program is that you do not need to meet any minimum purchase requirements to earn the matched rewards.
You have 12 months from the date you open your account to earn the rewards, and Discover will match whatever you earn in that period. This is a great incentive for new cardholders who want to maximize their rewards during the first year.
Rewards Program for Discover it Cash Back and Discover it Chrome Cardholders
The rewards program for Discover it Cash Back and Discover it Chrome cardholders is designed to incentivize different types of purchases. Depending on the card you have, you will receive different cash-back percentages on different purchases.
Here are the details:
Discover it Cash Back cardholders earn 5% cash back on purchases within select categories that rotate each quarter. These categories include grocery stores, restaurants, gas stations, and online shopping websites.
For instance, in the first quarter of 2021, the bonus categories are grocery stores, Walgreens, and CVS. In the second quarter, the categories are gas stations, wholesale clubs, and select streaming services.
You must activate the bonus categories each quarter to earn the 5% cash back. Discover it Chrome cardholders earn 2% cash back on purchases at restaurants and gas stations, up to $1,000 in combined purchases each quarter.
They also earn 1% cash back on all other purchases. This card is perfect for people who eat out frequently or pay for gas regularly.
The limit on bonus cash back is pre-set by Discover, and any purchases beyond the limit will earn the standard 1% cash back. There is no limit on the amount of cash-back rewards you can earn on either card.
Plus, all rewards earned with Discover it Cash Back and Discover it Chrome are redeemable for cash back, merchandise, gift cards, or donations to charity. The redemption options give cardholders the flexibility to choose what to do with their rewards.
Limits on Bonus Cash Back
While there is no limit on the amount of cash-back rewards you can earn, there are limits on the amount of purchases that are eligible for bonus cash back. For Discover it Cash Back, the 5% cash back is limited to $1,500 in combined purchases per quarter across the bonus categories.
Once you reach the cap, you will earn 1% cash back on the remaining purchases in the category. For Discover it Chrome, the 2% cash back is limited to $1,000 in combined purchases per quarter at restaurants and gas stations.
Once you reach the limit, you will earn 1% cash back on the remaining purchases at those merchants. The limits help to ensure that the rewards program remains sustainable for Discover and that cardholders do not abuse the system.
However, the caps are generous enough that most people will not reach them. For instance, to reach the $1,500 cap on bonus cash back for Discover it Cash Back, you must spend $300 per month in the bonus categories.
That is achievable for most households, but still allows Discover to manage the risks of offering such a rewarding program.
Conclusion
Discover Cashback Match and the rewards program for Discover it Cash Back and Discover it Chrome cardholders are excellent ways to earn cash-back rewards on your everyday purchases. If you are in the market for a new credit card, consider applying for one of these cards to take advantage of the perks.
With Discover Cashback Match, you can double your rewards for an entire year. And with the rewards program, you can earn cash back on everything from grocery shopping to eating out.
Just make sure to read the terms and conditions carefully, so you know how to maximize your rewards and avoid any fees or penalties. Happy shopping!
How Discover Cashback Match Works: Doubling Your Rewards for an Entire Year
Reward credit cards are a great way to maximize your everyday spending. Not only do you get to earn cashback or points for every purchase you make, but you can also redeem those rewards for valuable perks like statement credits, gift cards, or travel bookings.
Among the top reward credit cards on the market today, the Discover it Cash Back and Discover it Chrome cards stand out for their generous cash-back programs and the extra perk of Discover Cashback Match. In this article, we will explore how Discover Cashback Match works, how to earn Discover cash back rewards, and some tips on how to make the most of your card.
How Discover Cashback Match Works
Discover Cashback Match is a unique feature that sets Discover it Cash Back and Discover it Chrome apart from other reward credit cards. Cashback Match lets new cardholders earn double the cash-back rewards for the first 365 days or 12 consecutive billing periods.
The matched amount is added to the cardholder’s balance within two billing periods after the end of the first year. The best part about Discover Cashback Match is that there is no limit on the amount of cash-back rewards you can earn.
So, if you spend $3,000 within the bonus categories in the first quarter of activation, you can earn $150 in cash back, and Discover will match it with another $150. You will have earned $300 in cash-back rewards in just three months, without even considering the rewards you earn on other purchases.
To qualify for Discover Cashback Match, you must sign up for either the Discover it Cash Back or Discover it Chrome card and be approved. You must also activate your card and enroll in the Cashback Match program before you can start earning double rewards.
There is no fee to enroll in Cashback Match, and you do not need to enter any additional information beyond what you provided when you applied for the card. One thing to note about Discover Cashback Match is that it is only available to new cardholders.
After the first year, you will continue to earn cash-back rewards at your regular rate, which is still highly competitive compared to other card issuers. For instance, you will earn 5% cash back on purchases within select categories that rotate each quarter with Discover it Cash Back and 2% cash back at restaurants and gas stations with Discover it Chrome.
You will also earn 1% cash back on all other purchases with either card.
Earning Discover Cash Back Rewards
To earn Discover Cash Back rewards, you must use your Discover it Cash Back or Discover it Chrome card to make purchases. You will earn 1% cash back on all purchases with either card, which is automatically added to your balance.
To earn more than 1% cash back, you must make purchases within the bonus categories each quarter. For Discover it Cash Back, the bonus categories rotate every quarter and include popular merchants like grocery stores, restaurants, and online shopping.
You must activate the bonus categories each quarter to earn 5% cash back, and you can earn up to $1,500 in combined purchases per quarter. Once you reach that limit, you will earn 1% cash back on the remaining purchases in the category.
For Discover it Chrome, the bonus categories are fixed, and you earn 2% cash back at restaurants and gas stations, up to $1,000 in combined purchases per quarter. You also earn 1% cash back on all other purchases with the card.
Once you reach the $1,000 limit, your cash back for those categories will revert to 1%. Some tips on how to make the most out of your Discover it Cash Back or Discover it Chrome card:
1.
Always activate the bonus categories each quarter to earn 5% or 2% cash back. You can set up reminders through your account login or the Discover mobile app to ensure you do not forget to enroll.
2. Plan your purchases around the current bonus categories if possible.
For instance, if the bonus categories are grocery stores and drug stores, you can buy gift cards for other merchants at those stores to earn 5% cash back on future purchases. 3.
Use your Discover it Cash Back or Discover it Chrome card for recurring bills, like utilities or subscriptions, to earn cash back on those expenses. Just remember to pay your credit card bill on time and in full each month to avoid interest charges or late fees.
4. Check your account regularly to monitor your cash-back rewards balance and redemption options.
You can choose to redeem your rewards anytime, as long as you have earned at least $20 in rewards.
Conclusion
Discover Cashback Match and the rewards program for Discover it Cash Back and Discover it Chrome cardholders are excellent ways to earn cash-back rewards on your everyday purchases. Discover Cashback Match lets you double your rewards for the first year, while the rewards program lets you earn different percentages of cash back depending on the merchant type.
With these cards, you can earn cash-back rewards on everything from grocery shopping to dining out. Just make sure to read the terms and conditions carefully, so you know how to maximize your rewards and avoid any fees or penalties.
Happy shopping!
Redeeming Discover Cashback Match Rewards: Maximizing Your Earnings
One of the great features of the Discover it Cash Back and Discover it Chrome cards is the flexibility you have in redeeming your cash-back rewards. With Discover, you have a range of options for redeeming your rewards, including statement credits, electronic deposits, purchases at select merchants, gift cards, or donations to charity.
In this article, we will explore the different ways you can redeem Discover cash-back rewards, as well as the introductory offer for new cardholders.
Redeeming Discover Cashback Match Rewards
Redeeming your Discover cash-back rewards is easy and straightforward. Once you have earned at least $20 in cash-back rewards, you can redeem them for a variety of options.
Here are some of the ways you can redeem your rewards:
1. Statement credit: You can apply your cash-back rewards as a credit to your account balance.
This is a good option if you want to reduce your credit card debt or lower your monthly payments. 2.
Electronic deposit: You can deposit your cash-back rewards directly into your bank account. This option is ideal if you want to use your rewards for other expenses or save them for a future purchase.
3. Purchases at select merchants: You can use your cash-back rewards to make purchases at select merchants, such as Amazon.com or Apple.com.
This is a good option if you shop at these merchants frequently and want to save money on your purchases. 4.
Gift cards: You can redeem your cash-back rewards for gift cards from a range of merchants, including popular retailers like Target or Best Buy. This is a good option if you want to use your rewards for holiday gifts or other special occasions.
5. Donations: You can donate your cash-back rewards to a range of charities, including the American Cancer Society or the World Wildlife Fund.
This is a good option if you want to support a cause you care about. Discover’s redemption options give you the flexibility to choose how you want to use your rewards.
Just log in to your account and select the redemption option that fits your needs. Keep in mind that there may be minimum redemption thresholds for certain options, so be sure to check the terms and conditions before you decide.
Discover’s Introductory Offer for New Cardholders
If you are a new Discover it Cash Back or Discover it Chrome cardholder, you can take advantage of a special introductory offer in addition to the Cashback Match program. The offer includes an additional 0% APR for 15 months on purchases and balance transfers.
That means you will not have to pay any interest on purchases or balance transfers for the first 15 months of your account opening. The 0% APR offer is a great way to save money on interest charges if you plan to make a large purchase or transfer a balance from a high-interest credit card.
You can pay off the balance over the 15 months without accruing any additional interest charges. Keep in mind that your rate will be determined by your creditworthiness after the introductory period.
If you have a good credit score, you may qualify for a lower rate than the standard variable rate. It is important to note that the 0% APR offer does not cover cash advances or balance transfers made from other Discover cards or accounts.
Additionally, there is a 3% fee for balance transfers, which will be added to your balance. However, the fee may be worth it if you are transferring a high-interest balance to the card to take advantage of the 0% APR offer.
Conclusion
Discover Cashback Match and the rewards program for Discover it Cash Back and Discover it Chrome cardholders offer excellent ways to earn cash-back rewards on your everyday spending. With Discover’s redemption options, you have the flexibility to choose how to use your rewards, whether it is to reduce your balance, make a purchase at a select merchant, or donate to charity.
If you are a new cardholder, you can also take advantage of the special introductory offer of 0% APR on purchases and balance transfers for the first 15 months. Just be sure to read the terms and conditions carefully and use your card responsibly to avoid interest charges and fees.
Maximizing Rewards and Using Discover Cashback Match Wisely: A Guide
The Discover it Cash Back and Discover it Chrome cards are great reward credit cards for everyday expenses. With the Cashback Match program and generous cash-back percentages on select categories, cardholders can earn significant cash-back rewards on their purchases.
However, to make the most of these benefits, users need to use the card responsibly and strategically. In this article, we will explore some tips on how to maximize your rewards and use Discover Cashback Match wisely.
Using the Card for Monthly Purchases up to the Amount That Can Be Paid in Full Each Month
One of the most important tips for maximizing your rewards and avoiding debt is to use your credit card for monthly purchases up to the amount that can be paid in full each month. This means that you should not spend more than you can afford to pay back in full when your credit card bill is due.
Carrying a balance on your card from month to month incurs interest charges that can offset or negate any cash-back rewards you earn. To help stay within your monthly budget, you can set up automatic payments for the minimum balance due or a fixed amount, like your current balance or a set dollar amount.
You can also use the Discover mobile app to monitor your spending and receive alerts when you are approaching your credit limit or have a payment due. Avoiding Carrying a High Balance Past the Initial 0% APR Period to Avoid Accruing Interest