
The Discover it Cash Back credit card offers 5% cashback on various categories throughout the year, such as gas stations, grocery stores, and Walmart purchases.
If you're a frequent Walmart shopper, you'll want to take advantage of the 5% cashback offer on purchases made at Walmart. This can add up to significant savings, especially on big-ticket items.
To maximize your cashback rewards, make sure to use your Discover it Cash Back card for all your Walmart purchases, both online and in-store.
By following these simple tips, you can earn cashback on your everyday purchases and save money on the things you need.
How Cashback Bonus Works
The Discover cashback bonus is a reward program that pays you back a certain percentage of the money you spend as a reward. This can be redeemed either at select merchants or for cash.
You can earn up to 5% cash back on combined category spending per quarter in rotating bonus categories, which require activation. The Discover it Cash Back, NHL Discover it, and Discover it Student Cash Back credit cards offer this deal.
Here are the details of the Discover cashback bonus:
What is Cashback Bonus
Cashback bonus is a reward offered by some credit cards that pays you back a certain percentage of the money you spend. This can be a great way to earn some extra cash or rewards on your everyday purchases.
The Discover cash back bonus is a type of cashback bonus that pays you back a percentage of your spending. You can earn up to $1,500 in combined category spending per quarter in rotating bonus categories.
There are three types of Discover cashback bonuses. The first type offers 5% cash back on up to $1,500 in combined category spending per quarter in rotating bonus categories, and 1% back on all other purchases.
To take advantage of the 5% cash back rate, you'll need to activate the offer each quarter. This means you'll need to opt-in to the bonus category each time it changes.
How to Earn Cashback Bonus
To earn Cashback Bonus, you can use your Discover credit card for purchases. The more you spend, the more cashback you'll earn.
You can redeem your Cashback Bonus in various ways, but one of the most convenient methods is through the Discover website. Sign in to your account and click on "Rewards" to access the redemption page.
On this page, you'll see your Cashback Bonus balance, and you can choose to redeem it as a statement credit or deposit it directly into your bank account.
Here are some specific options for redeeming your Cashback Bonus:
- Deposit it into your bank account
- Redeem it as a statement credit
- Pay at Amazon.com or other participating merchants
Benefits of Cash Back
Cash back rewards can be redeemed for a variety of things, including statement credits, gift cards, and even cash deposited directly into your bank account.
Having cash back rewards can be a great way to offset the costs of daily expenses, like groceries and gas.
Some credit cards offer a higher cash back rate for certain categories, such as dining or travel.
Credit Card Cash Back
You can get cash back on your Discover credit card in the form of statement credit. You can also deposit any amount to your bank account.
To redeem your cash back, sign in to your Discover account and click on “Rewards”. Then, select “Redeem Cashback Bonus” to be redirected to the redemption page where you can see your balance.
You can also redeem your cash back to pay at Amazon.com or other participating merchants.
Types of Cash Back
There are several types of cash back credit cards, each offering unique rewards and benefits.
Some credit cards offer fixed cash back rates, such as 1.5% or 2% on all purchases.
Others offer tiered cash back rates, where you earn a higher percentage back on certain categories of spending, like 3% on groceries.
Rotating categories are another type of cash back offer, where you earn a higher percentage back on a specific category for a limited time, such as 5% on gas stations in the summer.
Some cards offer cash back on specific purchases, like 3% on travel or 2% on dining.
You can also earn cash back on your credit card's anniversary date, as a one-time bonus for meeting the card's spending requirements.
Eligible Purchases
To get the most out of credit card cash back, it's essential to know what purchases qualify. You can earn cash back on a wide range of items.
Online shopping is a great way to earn cash back. For example, you can earn 5% cash back on purchases made through TopCashBack at Walmart.com.
Eligible purchases can be found in various categories. Here are some examples:
Keep in mind that some purchases are not eligible for cash back. These include gift cards, cellular purchases, prepaid phone cards, and more.
Cash Back Limitations
Cash Back Limitations are something to be aware of when choosing a credit card.
Some cash back credit cards have a rotating category system, where you can earn 5% cash back on certain categories that change every quarter.
This can be a great way to earn high rewards, but you'll need to keep track of the categories and make sure you use your card during the designated period.
Other cash back credit cards have a tiered rewards structure, where you earn higher rewards rates as you spend more.
For example, the Discover it Cash Back card offers 5% cash back on up to $1,000 in combined purchases in bonus categories each quarter, and 1% cash back on all other purchases.
This means you can earn a total of $50 in cash back if you spend $1,000 in a quarter on the bonus categories.
Some cash back credit cards also have a limit on the amount of cash back you can earn in a year, often referred to as a "cash back limit".
The Citi Double Cash Card, for example, has a 2% cash back limit of $2,500 in rewards per year.
5% Cash Back at Walmart.com
If you're looking to earn cash back at Walmart.com, you're in luck because there's a deal that can give you 5% cash back on your purchases.
To take advantage of this deal, you'll need to click through TopCashBack, which is the platform offering the 5% cash back. This deal is only available at Walmart.com, not at physical Walmart locations.
Just remember that there are some exclusions to this deal, so make sure to check out the list of ineligible purchases. Here are the specific items that aren't eligible for cash back:
- Gift cards
- Cellular purchases (like iPhones)
- Prepaid phone cards
- Sam's Club
- Pharmacy
- Travel
- Financial services
- Tires
- Optical
- Wal-Mart Connect Internet Service
If you're planning to make a purchase at Walmart.com, it's worth checking if you can get 5% cash back through TopCashBack.
Sources
- https://wallethub.com/answers/cc/discover-card-cashback-stores-2140678608/
- https://www.bankingdive.com/news/capital-one-walmart-credit-card-partnership-discover-acquisition-lawsuit-antitrust/722279/
- https://www.moneygeek.com/credit-cards/compare/walmart-card-vs-discover-it-chrome/
- https://www.cardratings.com/cashback/best-credit-card-for-walmart.html
- https://millionmilesecrets.com/news/5-cash-back-at-walmart-or-10-with-discover-card/
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