Reviews Discover it chrome credit card review
Discover it chrome credit card review

Discover it chrome credit card review

Published: April 24, 2017
Ratings Policy
Cash Back Rating:
3.2 rating
3.2 rating
3.2 / 5
Rewards Value: 3.0
Annual Percentage Rate: 3.0
Rewards Flexibility: 3.8
Features: 2.0

In a nutshell:

A good card for foodies and commuters, the Discover it chrome credit card features an outstanding sign-up bonus that doubles your rewards at the end of the year and a solid bonus on restaurant and gas purchases.

Rewards Rate

  • 2% cash back on restaurant and gas station purchases (up to $1,000 in spending per quarter)
  • 1% cash back on general purchases

Sign-up Bonus
Double all of your cash back at the end of the card’s first year

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$273

APR
11.49-23.49% (variable)

Pros

  • Rewards don’t expire
  • Redeem your cash at any time
  • Redeem your cash as a gift card, donation, account credit, direct deposit, Amazon payment

Cons

  • Rewards bonuses are limited by a $1,000 cap on combined purchases

Other Notable Features: No foreign transaction fee, account on and off switch, no penalty APR, no late fee for the first late payment, no overlimit fee, free FICO credit score

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If you dine out frequently or spend a lot of time driving, the Discover it chrome credit card could be a lucrative addition to your wallet — especially in the card’s first year. The chrome card offers a strong cash back bonus on restaurant and gas station purchases, making it an ideal card for social nights out and weekend road trips. It also offers an outstanding sign-up bonus that promises to double your earnings at the end of the card’s first year. Depending on how much you spend, that bonus could net you substantially more cash back overall than what’s offered by competitors.

Discover has also won praise from credit card experts for its consumer-friendly terms and responsive customer service, making it a good pick for cardholders who want a safer card with strong rewards.

Solid rewards for gas and dining out
A good card for consumers who like to spend their evenings and weekends dining out, the Discover it chrome credit card rewards restaurant-goers with 2 percent cash back on dining purchases and 1 percent cash back on general purchases. The chrome card also rewards commuters and frequent road trippers with 2 percent cash back on gas. The 2 percent bonuses aren’t the most generous rewards bonuses cardholders can get – particularly since a $1,000 quarterly cap on bonus spending limits cardholders’ earnings. But when paired with the chrome card’s sign-up bonus, the rewards for the first year are among the best available on a card with no annual fee.

A promising sign-up bonus
You’ll have to be patient to earn a sign up bonus with this unusual cash back credit card. Unlike most rewards cards, the Discover it chrome card doesn’t gift cardholders with a quick cash infusion in the first few months of owning the card. Instead, cardholders who wait can net a much bigger reward overall if they use their card for all or most of their purchases. To lure new cardholders, Discover promises to double cardholders’ rewards earnings at the end of the card’s first year – a potentially lucrative deal for cardholders who use this as their everyday card. For some cardholders, the sign-up bonus alone could make the chrome card worth applying for, even if they don’t use card after the promotion expires.

A great card for the first year
Because cardholders’ earnings are doubled at the end of the year, the Discover it chrome card’s effective cash back rate for the first year is substantially higher than almost every other competitor. For the card’s first 12 months, cardholders earn 2 percent cash back on general purchases and 4 percent cash back on the first $1,000 per quarter on gas and restaurants.

To get a sense of just how big that sign-up bonus really is, consider how much you would take home if you spent roughly $1,000 a month on general purchases and an extra $1,000 per quarter (about $333 a month) on gas and restaurant purchases. With an effective 4 percent cash back rate on gas and restaurant spending and a 2 percent cash back rate on general purchases, you would earn roughly $400 by the end of the year — a pretty good return for a card with no annual fee.

Consumer-friendly benefits
Discover has also won praise from consumers and credit card experts for its extensive customer service (it has ranked number one for customer satisfaction in the J.D. Power and Associates credit card satisfaction study for the past three years) and for its consumer-friendly policies. The Discover it chrome credit card, for example, offers somewhat lower fees than many of its competitors and it offers some of the safest terms available. Cardholders aren’t charged a late fee the first time they miss a payment and they won’t get hit with a massive penalty rate if they repeatedly fall behind. Discover was also the first major credit card company to offer customers FICO scores for free on every statement. The chrome card doesn’t offer very many standard credit card perks, such as car rental insurance or extended warranty, though, so it’s not the best choice to use as your only card.

A potentially hefty APR
The biggest downside to the Discover it chrome card is its extensive APR, which could run as high as 23.49 percent, depending on your credit history. Cardholders with the best credit scores may be offered an APR as low as 11.49 percent, which is much lower than average for a cash back card. For example, the average cash back card charges at least 15.43 percent in interest. But because Discover advertises such a wide range of APRs, you could get hit with a much higher rate than you were expecting.

Reasons to get it:

  • You spend a lot of time driving or eating out and want to capitalize on your spending.
  • You want to earn maximum rewards without paying an annual fee and are tempted by the card’s promise to double rewards at the end of the first year.
  • You want a consumer-friendly card with safer terms and exemplary customer service.

 How to use it:

  • Use your card for all or most of your gas and restaurant purchases in order to maximize your spending.
  • To earn a large return after your rewards points are doubled, use your card for all your general purchases.
  • Try to pay off your balance in full to avoid the card’s high APR.

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