Finding a reward credit card that will maximize your cashback earnings can be difficult.
There are a lot of options available. Heck, your mailbox is probably full of “You’ve been prequalified!” Flyer. But your goal is simple: pocket as much money as possible.
That’s why we like this Discover the it® Cash Back card.
Throughout the year, when you sign up, you will receive 5% cashback on your purchases in various locations each year (up to $ 1,500 per quarter). All other purchases earn 1% cashback. At the end of your first 12 months as a new cardholder, the Discover it® Cash Back card corresponds to your Cash Back. That means you’ve just doubled your money.
Earn 5% Cash Back – And Match It At The End Of The Year
After you registerWith the Discover it® Cash Back card, you receive 5% quarterly cashback for your purchases at various retailers. Here is the quarterly breakdown of the categories for 2021:
- January to March: grocery stores, Walgreens, and CVS (excluding Target and Walmart)
- April to June: gas stations, wholesale clubs and selected streaming services
- July to September: restaurants and PayPal
- October to December: Amazon, Walmart (online) and Target (online)
Anything that you withdraw from your card during these months that do not fall into these categories will receive unlimited 1% cashback. Note: Receive 5% cashback on purchases up to $ 1,500 per quarter in the 5% cashback categories. In-category purchases over USD 1,500 receive 1% cashback.
And the best thing about it: At the end of your first 12 billing cycles, the Discover it® Cash Back card doubles your cash back. Let’s say you’ve made $ 150 in cashback. That means you were automatically given $ 300. That’s a solid passive income.
If you don’t want your money back, you can also redeem your rewards for gift cards and donations.
Curious how much cashback you can earn (and match) with the Discover it® Cash Back card? It takes minutes to apply online.
This article originally appeared on www.thepennyhoarder.com