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FAQs
If your wallet is missing all four, the Citi Custom Cash® Card is a good card to start, as it gives you more flexibility over how you earn your 5%. Then, you might want to add a card with a rotating quarterly category, like the Chase Freedom Flex®. Another option for this is the Discover it® Cash Back.
What is the Discover card cash back for July 2024? ›
The 5% Cashback Bonus® categories for the third quarter of 2024 are here. Beginning July 1, 2024, Discover it® and Discover More® cardmembers can earn 5% Cashback Bonus at Walmart and Grocery Stores through September 30, 2024, on up to $1,500 in purchases, when they activate1. Thats up to $75 cash back for the quarter.
How do I get 5% cash back from Discover? ›
You can activate 5% Cashback Bonus using the Discover mobile app, your online account or by calling 1-800-DISCOVER. And you'll still earn unlimited 1% cash back on all other purchases outside of the 5% program.
What are the 5% categories for Discover? ›
5% Cashback Bonus ®
- January to March 2024 Jan - Mar 2024. Restaurants and Drug Stores. ...
- April to June 2024 Apr - Jun 2024. Gas Stations & Electric Vehicle Charging Stations, Home Improvement Stores, and Public Transit. ...
- July to September 2024 Jul - Sep 2024. Walmart and Grocery Stores. ...
- October to December 2024 Oct - Dec 2024.
Is 5% cash back worth it? ›
If you are looking to maximize rewards, a 5% cash-back card can be a great asset. Oftentimes, they have standard interest rates and no annual fee. However, these rotating category cards aren't for everyone. Trying to optimize your usage can be a lot of work, and many people don't want the hassle.
What is the catch to cashback? ›
The more that you use your cash-back rewards programs, the more money that you stand to earn. There are a few drawbacks to a cash-back rewards card, including a higher-than-usual APR, having to wait to access your cash-back funds, and a cap on how much you can earn each year.
Which Discover card gives the most cash back? ›
Best Discover Credit Cards From Our Partners
Credit card | NerdWallet rating | Rewards rate |
---|
Discover it® Cash Back Apply Now on Discover's website, on Discover's website, or call 800-347-0264 Rates & Fees | 4.9/5 Best for Cash back | 1%-5% Cashback |
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When should you use your Discover cash back? ›
Your rewards never expire1 with Discover, but other credit card issuers may have expiration dates for their cash back rewards. If your cash back rewards have an expiration date, it's best to redeem those cash rewards as soon as you can; otherwise, you may lose the bonus cash accumulated through each eligible purchase.
Does Discover double your cashback every year? ›
Once you open an eligible Discover credit card, you'll earn rewards based on your card's rewards schedule as usual. After 12 months, however, Discover will match all the rewards you earned at the end of your first 12 months with no limits (even on bonus categories).
Does using cashback affect credit score? ›
Cash back rewards
This can help to save you money over time when you use your credit card for your day-to-day shopping and bill paying. That won't directly improve your credit score, but the savings you make could make it easier to stay on top of your regular payments.
Costco accepts Visa-branded credit cards in its warehouses. It does not accept American Express, Discover or Mastercard credit cards in its warehouses, although you can use Discover or Mastercard credit cards online (but not American Express) at Costco.com or through the Costco app.
Are Discover cards going away? ›
Discover cards are not going away
If you currently have Discover cards or Capital One cards in your wallet, there's nothing to worry about.
What are the Discover card rewards for July 2024? ›
In the third quarter of 2024 — July through September — you can earn 5 percent back at Walmart and grocery stores (on up to $1,500 in combined spending for the quarter after activation, then 1 percent).
What is the highest credit score for Discover? ›
FICO® Score Ranges (from myFICO.com)
- Exceptional: 800 to 850.
- Very good: 740 to 799.
- Good: 670 to 739.
- Fair: 580 to 669.
- Poor: 579 or less.
Does Discover give 5% back on gas? ›
Discover it® Cash Back: Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate.
How do you get 5% cash back at Walmart? ›
Chip Lupo, Credit Card Writer
The credit cards that give 5% cash back at Walmart are the Capital One Walmart Rewards® Mastercard® and the Walmart® Store Card.
What card offers 5% cash back? ›
Best 5% Cash Back Credit Cards
Credit card | NerdWallet rating | Intro offer |
---|
Chase Freedom Flex® Apply Now on Chase's website on Chase's website | 5.0/5 Best for Rotating categories + cash bonus | $200 |
Prime Visa Apply Now on Amazon.com's website on Amazon.com's website | 4.6/5 Best for Amazon Prime members | $100 |
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How do you get cash back on items? ›
How does cash back work online? You can earn cash back on purchases when you visit online retailers through Ibotta including HomeDepot.com, Ebay.com, Macys.com, Groupon.com, Walmart.com, Booking.com, Kohls.com and many more. Simply follow the link between Ibotta and the online retailer.
What is 5x cash back? ›
When a credit card gives you 5% cash back, it means that you will earn 5 cents in rewards for every dollar you spend on qualifying purchases. You can usually redeem cash back rewards for a statement credit, a check in the mail, or a deposit into an eligible bank account.