New Discover 2% IT Card???

[14Fiesta]

I was just browsing around the Discover website this morning, and I found something I have not seen before. They offer a card which trades in 5% rotating categories for a dedicated 2% back on Gas and restaurants. Has this always existed or is it a new offering from Discover?

[BungalowMo]

I've had this card since April 2013 & that is how mine has always been.  In fact, your post reminded me to sign up for the July - Sept. 5% cash back on gas!

Every quarter they have a promo or 2 going on.  That is aside from the regular cashbacks they have on everyday purchases.

What state do you live in?  Different reports are pulled depending on where you live.

EDIT: I see you have a discover card in your siggy...you got that w/no FICO score??

[wHiTeSoL]

It's the "discover it chrome " card. Not very appealing to me though

FYI, completely different product from the everyday it card

[longtimelurker]

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@BungalowMo wrote:

I've had this card since April 2013 & that is how mine has always been.  In fact, your post reminded me to sign up for the July - Sept. 5% cash back on gas!

Every quarter they have a promo or 2 going on.  That is aside from the regular cashbacks they have on everyday purchases.

What state do you live in?  Different reports are pulled depending on where you live.

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Looks like there is a Discover IT Chrome for students, that is just 2% on gas/dining up to $1000 per quarter.  And if you click "Not a student" you get the same type of offer without the name.  So I don't think this is a promo on top of the IT, it says remember you get 1% on everything else, not "you get 5% on ... and 1% on everything else"

That said, no idea why anyone would want this version!

[BungalowMo]

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@longtimelurker wrote:

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@BungalowMo wrote:

I've had this card since April 2013 & that is how mine has always been.  In fact, your post reminded me to sign up for the July - Sept. 5% cash back on gas!

Every quarter they have a promo or 2 going on.  That is aside from the regular cashbacks they have on everyday purchases.

What state do you live in?  Different reports are pulled depending on where you live.

---

Looks like there is a Discover IT Chrome for students, that is just 2% on gas/dining up to $1000 per quarter.  And if you click "Not a student" you get the same type of offer without the name.  So I don't think this is a promo on top of the IT, it says remember you get 1% on everything else, not "you get 5% on ... and 1% on everything else"

That said, no idea why anyone would want this version!

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Aha....Mine is the bluish color IT card.  Totally different animal.

To the OP...I'd pass on the chrome....

Wait until you have a FICO score & let the one card you have age a bit....

[NonSufficientFunds]

What is the point?  Why would anyone want to give up 5% for 2% cash back?

From July thru September, Discover will give you 5% on gas purchases, and there are lots of other cards that will offer more than 2% on restaurant purchases.

If you want a card that offers a consistent % on everything, I believe you could just order an AmEx-Everyday or CapOne-Quicksilver.

Personally, I enjoy playing cards, and getting the maximum benefit from each, but I also understand that some folks don't want to be bothered with rotating categories.

I look forward to seeing what others have to say on this issue.

[longtimelurker]

2% on a small set of categories is pretty unappealing.  I don't know how score requirements compare, but the Fidelity Amex is 2% on everything without caps, Quicksilver is 1.5% on everything, there are cards that give 5% uncapped on gas year round, so I would have been surprised that anyone would want this, but we already have one MyFico member who has switched!

[trumpet-205]

The only instance I see this card being appealing is if you frequently on the road in Asian territory. Discover has stronger acceptance in Asia because of its alliance with others, and it has no FTF.

[unrlmth]

Best case senario with this card, if you have consistent spending year round, is that you break even with the 5% card.  The average cash back for each catagory for the 5% is 2% when averaged over the whole year.  And the 5% card has higher limits.

[370Z]

There are better alternatives out there:

Chase AARP 3% gas/restaurant (no caps)

US Bank Cash+ 2% gas (no cap) 5% restaurant ($2000 cap)

Fidelity Amex 2% on all purchases