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Key takeaways
- The Discover it® Cash Back and Discover it® Balance Transfer are both no-annual-fee cash back cards that feature rotating bonus categories.
- The Discover it® Balance Transfer offers a slightly longer intro APR balance transfer offer, but the Discover it® Cash Back features a much longer intro APR on new purchases.
- The right option for you will most likely depend on the type of intro APR offer you are looking for and whether you already have one of these cards.
Choosing between the Discover it® Cash Back and Discover it® Balance Transfer can be tough. Both cards feature the exact same rewards rates and welcome bonus, so the main difference lies in their introductory APR periods.
Although the Discover it Balance Transfer is no longer taking new applications, those who already have the card can still use it. To help you decide whether to keep the card or switch to the Discover it Cash Back, here’s a closer look at their main features, how much each card could potentially earn and more.
Main details
| Features | Discover it® Cash Back | Discover it® Balance Transfer |
|---|---|---|
| Welcome bonus | Unlimited Cashback Match — Discover will automatically match all cash back earned at the end of your first year
Intro Offer: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300. |
Unlimited Cashback Match — Discover will automatically match all cash back earned at the end of your first year |
| Rewards rate |
|
|
| Introductory APR | 0% for 15 months | 0% intro APR for 6 months on purchases and 18 months on balance transfers |
| Variable APR | 18.24% – 28.24% Variable APR | 18.24% to 28.24% |
| Annual fee | $0 | $0 |
Discover it Cash Back vs. Discover it Balance Transfer highlights
With the exact same rewards structures and Discover’s fantastic Cashback Match welcome offer, the Discover it Cash Back and Discover it Balance Transfer are both solid cards to have in your wallet. Here’s a breakdown of the two cards:
Welcome bonus winner
Rewards rate winner
Balance transfer winner
Intro APR period winner
Which card earns the most?
The Discover it® Cash Back and Discover it® Balance Transfer both earn exceptional rewards for no-annual-fee credit cards. You can’t lose with either card because they have the exact same rewards rates and welcome bonuses. Using either card exclusively for at least the first full year will give you a great opportunity to earn a big cash back bonus after your first year of card ownership.
Discover it® Cash Back vs. Discover it® Balance Transfer
Let’s say you use your credit card for $1,500 in purchases each quarter. If you completely forget to activate the bonus category each quarter, you’ll earn 1 percent cash back on every purchase automatically. This sends you home with $60 in cash back, annually.
However, you’ll boost your rewards significantly if you activate and maximize your rotating bonus categories each quarter. Using the same $1,500 quarterly spend (or $6,000 yearly), you’ll earn $300 in cash back annually from your 5 percent rotating bonus category spending (up to $1,500 on purchases per quarter, then 1 percent). Plus, with Discover’s Cashback Match welcome offer, those earnings would be essentially doubled to $600 in cash back during the first year you have either card.
Why you should get the Discover it® Cash Back
The Discover it® Cash Back is a great choice if you want a low-cost rewards card with the option to earn big rewards on everyday spending. With no annual fee and an introductory APR on both purchases and balance transfers, your cost to carry this card may be next to nothing, giving you ample time to rack up cash back rewards (as long as you’re willing to activate the bonus categories every quarter).
Why you should get the Discover it® Balance Transfer
Although the Discover it® Balance Transfer is no longer available to new applicants, you can still keep the card if you already have it. If you were trying to eliminate high-interest credit card debt, this card’s introductory APR on balance transfers made it a good choice to help you achieve that. If you already have this card, it offers the same rewards structure as the Discover it® Cash Back, so the benefits of switching to the cash back card are negligible.
The bottom line
There is no clear-cut winner between the Discover it Balance Transfer and Discover it Cash Back. Neither card comes with an annual fee, and both cards offer the same rewards earning rate and cash back match at the end of your first year.
For existing Discover it Balance Transfer cardmembers, there is little reason to switch. If you’re looking for a new card, however, you’ll need to look elsewhere because this card is no longer available to new applicants.
If you are looking for a new card and need to make a big purchase that you can pay off over time, the Discover it Cash Back is a solid choice. However, if you want to pay off your existing credit card debt with a balance transfer, a card like the Discover it Chrome is a good replacement for the Discover it Balance Transfer.
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