What's the Discover card cashback rate? This question is about Discover Credit Cards

What's the Discover card cashback rate?

This question is about Discover Credit Cards

Georgia Freeman, Member

@georgia_freeman • 02/22/22 This answer was first published on 09/29/20 and it was last updated on 02/22/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The Discover card's cash back rate is 5% on up to $1,500 spent in bonus categories that change quarterly. You will also earn 1% cash back on non-qualifying purchases. Keep in mind, though, that you will need to sign up for the new bonus categories each quarter.

The Discover credit cards that offer this rate are the Discover it Cash Back, Discover it Student Cash Back, and NHL Discover it. Other credit cards offer a cashback bonus in certain categories that never change. For instance, the Discover it Chrome offers 2% cash back at gas stations and restaurants (up to $1,000 spent each quarter combined), and 1% back on all other purchases.

What are the Discover card cashback rules?

The Discover card cashback rules are:

You can redeem your rewards as statement credit, bank account deposits, gift cards/eCertificates, charity donations, or to use it as payment on Amazon.com and PayPal.
The cashback bonus never expires.
The cashback bonus can be redeemed any time, in any amount starting with 1 cent (for statement credits, bank account deposits, Amazon.com and PayPal payments or charity donations). Gift cards and eCertificates options start at...

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How does the Discover cashback bonus work?

The Discover cash back bonus pays you back a certain percentage of the money you spend as a reward. The Discover cash back bonus can be redeemed either at select merchants or for cash. More specifically, there are three types of Discover cashback bonuses:

5% bonus rate: You earn 5% cash back on up to $1,500 spent per quarter in bonus categories (which change every quarter and require activation), and 1% back on all other purchases. The Discover credit cards that offer this deal are the Discover it® Cash Back, the NHL® Discover it®, and the Discover it® Student Cash Back.
Cash back in categories that don’t...

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Are cash back credit cards worth it?

Yes, cash back cards are worth it because they can help you save money as long as you pay off your balance in full each month. It is also worth noting that the best cash back credit cards with the highest rewards rates and signup bonuses sometimes have annual fees. In that case, you need to be sure that what you earn will offset the cost of the annual fee (and then some). For cards that have no annual fees, the cash...

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