Discover puts its focus on creating great rewards for its cardholders.Discover has grown its offering of student and personal cards in recent years, offering several rewarding cards with no annual fee. More recently, they added a secured card to help people build credit.
Discover is also a network, along with Visa, Mastercard and American Express. This means it partners with merchants nationally and worldwide, which accept the Discover cards for payment. Although more common in the United States, Discover is accepted in 185 countries and territories.
Although it's the smallest among the major networks in the U.S., it is widely accepted here. In fact, among merchants who accept cards, 97% of them accept Discover. There were almost 296 billion purchase transactions among general purpose cards in 2017, says Nilson Report. Here's how the networks break down with those
Each time you purchase something with your Discover card, you will receive extra protection against damage or theft. If your item in damaged or stolen within the first 90 days, you will receive a refund of up to $500 to cover the replacement.
If you are not happy with a purchase and the store will not accept the return, Discover might be able to help. Discover will refund you up to $500 per item within 90 days of purchase. There is a yearly maximum of $2,500.
Auto Rental Collision Damage Waiver
When you use your Discover card to pay for a rental car, you will be automatically covered for up to $25,000 worth of damage. This is secondary car rental insurance, so you will need to submit a claim with your primary insurance company before Discover will pay out on a claim.
If you notice that the price has dropped on an item you purchased within 90 days, Discover will refund you up to $500 per item and $2,500 per year.
Flight Accident Insurance
Any airline tickets you purchase with a Discover card will include $500,000 worth of travel accident insurance.
Extended Product Warranty
If you purchase an item that has a warranty of 36 months or less, Discover will automatically extend that warranty by one year.
Discover credit cards earn between 1 to 5 percent back for purchases in different categories. If your card has rotating bonus categories, you will earn the bonus on up to the quarterly maximum and must activate the bonus offer each quarter. Make sure to keep track of rotating bonus categories to maximize your rewards earnings.
In addition, Discover offers a dollar-for-dollar match on rewards earned during your first 12 months as a new cardholder. This can act as a sign-up bonus if you plan to make large purchases during your first year with a new card.
Discover reward redemption values may vary depending on the redemption option you choose. Gift cards or instant e-certificates from Discover partners can be redeemed starting at $20. Other redemption options, including charitable donations, account credits, electronic deposits and purchases at Amazon.com, can be redeemed starting at a penny.
Discover’s cash back rewards do not expire even if the account is closed or inactive, and they can be redeemed for any amount at any time.
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