Here's Why I'm Thinking of Applying for the Discover it® Cash Back Card

I'm a fan of free money, so I try to get it whenever possible. For example, I keep my money in a high-yield savings account so I can earn extra interest on the cash I'm not using. And I have some of my investments in dividend stocks, which put extra cash into my brokerage account on what's usually a quarterly basis as a thank you for being a shareholder.

I'm also a fan of scoring as much cash back as possible from my credit cards. And that's exactly why I'm thinking of applying for the Discover it® Cash Back credit card. 

A "make your own bonus" sort of deal

Plenty of credit cards offer nice sign-up bonuses when you spend a certain amount of money within a few months of opening your account. My issue with these offers, though, is that if you don't meet the spending requirement, you don't get the bonus at all. It's not as if you can get a partial welcome bonus for getting halfway to the spending threshold the card sets.

What's great to me about the Discover it® Cash Back is that you're not chasing a specific sign-up bonus. Instead, the card's welcome offer is unique -- Discover will match all the cash back you’ve earned at the end of your first year. So if you rack up $300 in cash back over your first year with the card, you'll get an additional $300 back at the end of that year -- just like that. This means you won't feel compelled to make extra purchases to meet a spending threshold.

This offer works especially well for me because I don't have any major purchases coming up this year. Sure, my home could spring an unwanted surprise on me in the coming months in the form of an unplanned repair. That's just part of the territory when you're a homeowner.

But because I'm not planning on larger purchases, I don't want the stress of having to meet a specific sign-up bonus threshold, like having to spend $3,000 or $4,000 within three months of opening a new account. The Discover it® Cash Back won't force me into that mindset. It's a super flexible way of snagging a nice bonus. 

There are other perks, too

In addition to getting to double your cash back at the end of your first year as a cardholder, the Discover it® Cash Back also gives you 5% cash back in revolving bonus categories you must activate each quarter, up to a quarterly spending limit. These categories include gas stations and grocery stores, where I spend a lot of my money because, well, I have no choice.

I also like the fact that this credit card doesn't charge an annual fee. Some annual fees can be worth paying, but I prefer to avoid them when possible.

My one hesitation

The one reason I haven't applied for the Discover it® Cash Back is that not every merchant accepts Discover cards. That gave me pause at first. But I've been doing some reading, and it turns out Discover cards are pretty widely accepted. 

Plus, it's not as if I don't have other credit cards in my name. In a worst-case scenario, I could always use an alternate card. 

All told, I love the flexibility of the Discover it® Cash Back. So there's a good chance I'll be applying before the end of the year. You may want to give this credit card a chance, too, if you like the idea of racking up extra cash back but don't want to feel forced into spending a certain amount of money within a few months of opening your account.