Discover it Review

Discover it Card (formerly Discover More) Review

Updated March 21, 2023.

The Facts:

Annual Fee: None
Signup Bonus: None. However, Discover currently matches all cashback that you earn in the first year, if you open a new account. This essentially makes the card return 10% on rotating categories (see below) and 2% on everything else. Since we have other products (Citi Double Cash, Fidelity Visa) that return 2% cashback without annual fees, we view the matching offer as a signup bonus of 5% on rotating categories. When you max out this 5% cashback by spending $6,000 in the first year (see below for details), you will earn an extra $300 beyond what the card regularly offers.
Application Landing Page
Rewards: 5% on rotating categories (spending cap has been $1,500 each quarter since 2012), and 1% everything else. You have to signup each quarter to earn 5% bonus.
Other Benefits: waived foreign transaction fees.
Other Facts: In 2012, Discover increased the quarterly spending cap to $1,500 to keep up with Chase Freedom and Citi Dividend. In 2013, Discover rebranded "Discover More" as "Discover it", but the features remained the same. Later, Discover made the cashback earned on general purchases better by removing the "up to" catch.
2023 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

Jan-Mar: groceries, drugstores, select streaming services
         Apr-Jun: restaurants, wholesale clubs
         Jul-Sep: TBD
         Oct-Dec: TBD

2022 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

Jan-Mar: groceries, fitness & gym memberships
         Apr-Jun: gas stations, Target
         Jul-Sep: restaurants, PayPal
         Oct-Dec: Amazon.com, digital wallets

2021 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

Jan-Mar: grocery stores, Walgreens, CVS
         Apr-Jun: gas stations, wholesale clubs, select streaming services
         Jul-Sep: restaurants, PayPal
         Oct-Dec: Amazon.com, Walmart.com, Target.com

2020 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

Jan-Mar: grocery stores, Walgreens, CVS
         Apr-Jun: Home Depot (June only), gas stations, wholesale clubs, Uber, Lyft
         Jul-Sep: restaurants, PayPal
         Oct-Dec: Amazon.com, Walmart.com, Target.com

2019 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

Jan-Mar: grocery stores
         Apr-Jun: gas stations, Uber, Lyft
         Jul-Sep: restaurants
         Oct-Dec: Amazon.com

2018 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

Jan-Mar: gas stations, wholesale clubs
         Apr-Jun: grocery stores
         Jul-Sep: restaurants
         Oct-Dec: Amazon.com, wholesale clubs

2017 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

Jan-Mar: gas stations, ground transportation, wholesale clubs
         Apr-Jun: home improvement stores, wholesale clubs
         Jul-Sep: restaurants
         Oct-Dec: Amazon.com, Target

2016 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

         Jan-Mar: gas and ground transportation
         Apr-Jun: restaurants and movies
         Jul-Sep: home improvement stores and Amazon.com
         Oct-Dec: Amazon.com, department stores, and Sam's Club

2015 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

         Jan-Mar: gas and ground transportation
         Apr-Jun: restaurants and movies
         Jul-Sep: home improvement, department stores, and Amazon.com
         Oct-Dec: Amazon.com, department stores, and clothing stores

2014 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

Jan-Mar: Restaurants, Movies
Apr-Jun: Home Improvement, Home Furnishing, Bed Bath and Beyond
Jul-Sep: Gas
Oct-Dec: Online Shopping, Department Stores

2013 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

Jan-Mar: Restaurants, Movies
Apr-Jun: Home Improvement, Garden
Jul-Sep: Gas
Oct-Dec: Online Shopping

2012 Discover 5% Bonus Calendar (spending cap is $1,500 each quarter):

        Jan-Mar: Gas, museums, and movies
        Apr-Jun: Dining and movies
        Jul-Sep: Gas, movies, and theme parks
        Oct-Dec: Department stores, electronic stores, toy stores, and movies

2011 Discover 5% Bonus Calendar (spending cap is noted):

        Jan-Mar: Travel and Dining ($800)
        Apr-Jun: Home and Fashion ($400)
        Jun only: Groceries and Drugstores ($200)
        Jul-Sep: Gas, Hotels, Movies, and Theme Parks ($300)
        Oct-Dec: Dining and Fashion ($300)

The Math:
Obviously this card is best for bonus categories, and you'd better use other cards for general spending. So not much math here. However, we do want to provide a comparison among three similar cashback cards that offer 5% on quarterly rotating categories.

Discover it vs. Chase Freedom Flex vs. Citi Custom Cash: All three offer 5% cashback on select categories; however, Custom Cash earns bonus on the top one eligible category each billing cycle, while Freedom Flex and Discover it rotate bonus categories (usually 2-3 categories) every quarter. While Freedom Flex and Discover it require enrollment to earn bonus, Custom Cash automatically applies bonus based on your actual spending. Considering the fact that Custom Cash's 10 eligible categories include groceries, gas, dining, select travel, home improvement, we think it provides better flexibility than the other two cards. The spending caps are similar: Customer Cash has a $500 limit per billing cycle, while Freedom Flex and Discover it have a $1,500 limit per quarter. Ultimately, it all comes down to your spending pattern and the 5% calendar to decide which card is the best for you. Another important consideration is that Chase UR or Citi TY rewards ecosystem could potentially increase the 5% cash rewards to 7.5% travel rewards when you have a premier UR or TY product.

The Conclusion:
Discover it is one of the cards that offer 5% cash back on rotating categories. You will have to do your own math to figure out which is the best for you.