Verdict: The Discover® More® Card is one of best cash back credit cards out there. You can earn up to 5% back on a lot of your purchases – effectively saving hundreds or even thousands of dollars per year. Another huge plus is that there is no annual fee with this card.
The Discover More Card takes the place of Discovers previously named Platinum card. The name has changed, but it continues to rise above most with its enormous amount of benefits, including a great cash back program and an online rewards program called ShopDiscover. This card has a 0% intro APR on purchases and balance transfers, an extensive cash back benefits program, no annual fee and guaranteed fraud protection. It is a great choice in credit cards for those that have excellent credit and would like to earn maximum cash back bonuses on their everyday purchases.
Discover More Rewards Program
The Discover® More® Card has one of the best reward programs with a 5% Cashback Bonus in categories that change throughout the year. Signing up each time is free and easy.* You can also earn up to 1% cash back bonus on every other purchase and up to 20% bonuses when redeeming for purchases online.
There is no expiration on cash back bonuses and you can earn as much as you like because there is no limit to how much you can earn. Using the Discover More Card online at ShopDiscover.com will earn cash back rewards that are credited directly onto your account. Redeem your rewards for gift cards with over 100 participating retailers or choose to have cash deposited directly into your checking account. The Discover shopping website has many of the best retailers to give the most selection and satisfaction. If the cardholders account is in default status, rewards cannot be redeemed.
Important: Customers can achieve the 1% unlimited cash back bonus on all other purchases after they spend $3,000 annually. If you are looking to earn the 1% right off the bat, I recommend paying a few bills with your card that you would have otherwise paid for with cash and then paying the card balance off immediately. Until $3,000 in spending is reached, you’ll receive .25 percent cash back on purchases that are in the 1 percent cash back category. Also, warehouse purchases earn .25 percent cash back.
Intrest Rate, Fees & Other Fine Print
The Discover More Card has no annual fee. The APR will depend on your credit history, but there is a 0% intro APR on purchases for 6 months, then the variable standard purchase APR of 10.99% – 20.99%* 0% intro APR on balance transfers for 18 months, then the variable standard purchase APR of 10.99% – 20.99%*
How It Compares to Other Cash Back Credit Cards
Discover More vs Chase Freedom Card
The Chase Freedom Card edges out the Discover More Card. It offers $200 cash back after $500 is spent within the first 3 months. It’s introductory APR for purchases is 0 percent for 6 months and 0 percent for 12 months on balance transfers. While both of these are shorter periods than those found with Discover, it won’t matter unless you happen to pay a bill late after these periods are over. Other than that, the fees are fairly similar, with Chase having a few lower fees (but not by a lot).
Chase Freedom also offers 5 percent cash back on rotating categories, matching it very well with the Discover More Card. Additionally, it offers 2 percent cash back on airfare, giving it an advantage over the Discover More Card. Finally, it offers a better version of a 1 percent cash back offer than the Discover More Card has, as there is no $3,000 threshold to reach.
The Citi Dividend World MasterCard is also a better bet than the Discover More Card. It offers the same introductory APRs as the Discover Card (0 percent for 15 months on purchases and balance transfers) and similar fees otherwise. It also offers 5 percent cash back on rotating categories and purchases made through the Citi Bonus Cash Center as well as 1 percent for all other purchases. The amount of cash back in the 1 percent category is limited to $300, so that is a bit of a limitation that this card has.
Discover More vs Capital One Cash Credit Card
The Capital One Cash Credit Card offers $100 cash back after $500 is spent within the first 3 months. It also offers 1 percent cash back on all purchases and a 50 percent bonus annually, making it effectively a 1.5 percent cash back offer. This does not measure up well with the Discover More Card’s 5 percent cash back on rotating categories and other cash back rewards.
The fees associated with the Capital One Cash Credit Card are similar to those with the Discover More Card. It has no annual fee and no foreign transaction fee (which helps if you travel abroad frequently). However in the end, most people would be better off avoiding This Card in favor of the Discover More Card.
5% Cashback Bonus in categories that change throughout the year like gas, restaurants, and department stores up to the quarterly maximum. Signing up each time is free and easy.*
Up to 1% unlimited cash back on all other purchases.
No annual fee
$0 Fraud Liability Guarantee means that the cardholder will not be held responsible for any fraudulent or unauthorized charges on the Discover More Card
Any earned cash back bonuses will be lost if the account is closed for any reason
Balance transfers cannot be used for other Discover credit card accounts
Credit Shout is a community of personal finance experts dedicated to helping you save money and make smart financial decisions. Learn how to master your credit card rewards, improve your credit score and start eliminating your debt.