Discover it® Chrome Review

Discover has just launched a new version of its Discover it card. The new card, called the Discover it® chrome, offers a new and more convenient approach to cash back rewards. Let me explain.

Traditionally, Discover’s cash back rewards have followed the quarterly rotating category approach. Each quarter certain categories of purchases qualify for 5% cash back with a spending limit typically of $1,500. To get the 5% cash back, cardholders must log into their accounts and sign up for the offer every quarter. Chase and Citi offer similar cards, and I track the 5% cash back offers here.

With Discover it® chrome, the quarterly 5% rotating categories are replaced with 2% cash back automatically on up to $1,000 in combined purchases at restaurants and gas stations every quarter. All other purchases continue to earn cardholders 1% cash back.

Beyond this change, the card is similar to the Discover it®. For example, you still get free access to your FICO score with the new card. The new card is available with two different 0% introductory APR offers. One offers 0% APR for 18 months on balance transfers and for 6 months on purchases, while the other version offers a 0% introductory APR for 14 months on both balance transfers and purchases.

In addition, the new card does not charge an annual fee. There is no late fee the first time a payment is late. And paying late will not increase your APR. Finally, the new card also comes in a version designed for college students.

Published or Updated: October 2, 2014
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Comments

  1. Alex @ Credit Card Xpo says:

    I like these new Discover cards because getting 5% cash back in rotating categories had never really worked for me. I also appreciate the free access to my FICO score.

Speak Your Mind

*