Understanding the Drawbacks and Application Process for the Discover it® Cash Back Credit Card

Drawbacks of the Discover it® Cash Back Credit Card

High-Quality Benefits Come with Some Drawbacks

1. No Sign-Up Bonus: Unlike some other credit cards, this card does not offer a sign-up bonus for new cardmembers. This means you won’t receive an immediate lump sum of rewards upon opening your account.
2. Rotating 5% Cash Back Categories: While the 5% cash back categories offer lucrative rewards, they change quarterly and require activation. Keeping track of these categories and activating them each quarter may be inconvenient for some cardholders.
3. Foreign Transaction Fees: If you use it for purchases outside of the United States, be aware that it charges foreign transaction fees. These fees can add up and increase the cost of international purchases.
4. Variable APR: After the introductory period, the APR for purchases and balance transfers will vary based on your creditworthiness. This variable APR could result in higher interest charges if you carry a balance from month to month.

How to Apply for the Discover it® Cash Back Credit Card

Simple Steps to Get Started

1. Check Your Credit Score: Before applying for any credit card, it’s essential to know your credit score. It typically requires good to excellent credit for approval.
2. Research the Card: Take the time to research the features, benefits, and drawbacks of the Discover it® Cash Back Credit Card to determine if it aligns with your financial goals and spending habits.
3. Gather Required Information: To complete the application process, you’ll need to provide personal information such as your name, address, Social Security number, employment status, and annual income.
4. Apply Online: Visit the official Discover website and complete the online application form. Be sure to double-check all information before submitting your application.
5. Wait for Approval: Discover will review your application and credit history to determine your eligibility for the card. Approval decisions are typically provided within a few minutes, but it may take longer in some cases.
6. Activate Your Card: If approved, you’ll receive your Discover it® Cash Back Credit Card in the mail. Follow the instructions provided to activate your card and start using it for purchases.

Conclusion:

While the Discover it® Cash Back Credit Card offers attractive rewards and benefits, it’s essential to consider the potential drawbacks and ensure that it aligns with your financial needs and preferences.

By understanding the card’s features and following the simple application process, you can make an informed decision and enjoy the benefits of cash back rewards. Apply for the Discover it® Cash Back Credit Card today and start earning rewards on your everyday purchases!