Discover it Cash Back
A Capital One Discover card with no annual fee. Here's what it pays back after that fee for three spending profiles, simulated month by month. Terms verified Oct 5, 2026.
What it's worth
5 years, the welcome offer counted when the profile's own spending reaches it, rewards valued as cash. Merchant credits like Uber or DoorDash aren't counted for typed profiles.
| Profile | Year 1 | Then yearly | 5 years |
|---|---|---|---|
| Everyday spender About $2,000 a month, mostly groceries and errands, one trip a year. | $841 | $421 | $2,524 |
| Balanced About $3,500 a month with a few trips a year and regular dining out. | $1,386 | $660 | $4,026 |
| Frequent traveler About $5,000 a month, heavy on flights, hotels and restaurants, some trips abroad. | $1,788 | $840 | $5,148 |
Your spending isn't one of our profiles. Drop in a year of statements and see where the Discover it Cash Back ranks against every card we track. They're read on this device and never uploaded.
Terms
| Term | Discover it Cash Back |
|---|---|
| Issuer and network | Capital One, Discover |
| Annual fee | None |
| Requires | Nothing extra |
| Welcome offer | Matches all first-year cash back |
| Earning | 5% on rotating quarterly categories, up to $1,500 a quarter, activation required · 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel · 5% cash back on Capital One Entertainment ticket purchases · 1% on everything else |
| Rewards currency | Cash back |
| Statement credits | None |
| Lounges | None |
| Foreign transaction fee | None |
| Authorized users | No fee |
| Availability | Open to new applicants |
| Verified | Oct 5, 2026 |
Checked against the issuer's page. Dates and sources for each part.
Fine print
- Still open to new applicants as of 2026-10-05: listed on Capital One's compare page, product page on discover.com ('(c) 2026 Capital One'), applications go to capitalone.com/apply/credit-cards/discover/. The card keeps the name 'Discover it Cash Back'. Application terms are titled 'Discover by Capital One', and Capital One, N.A. is the issuer.
- Discover acceptance is weaker internationally and Costco does not take it.
- Capital One began moving existing Discover card accounts onto its website/app on 2026-07-27, in waves running into 2027. Card names, the 5% rotating program, Cashback Match, APRs and $0 fee carry over. Capital One added 5% on Capital One Travel (hotels, vacation rentals, rental cars), 5% on Capital One Entertainment, and Capital One Offers. The new-applicant disclosure (campaign 2026-09-30) already includes the 5% Travel and 5% Entertainment earn.
- Rotating 5% categories need activation each quarter, apply to the first $1,500 of combined category purchases per quarter (max $75), then 1%. Activation is not retroactive. Purchases must be with U.S. merchants. Categories are by MCC; per the disclosure, superstores like Walmart and Target do not count as grocery stores.
- Calendar sources (secondary): Discover IR newsroom posts for Q1/Q2 2025; Doctor of Credit for Q4 2025; TPG (2026-10-01), NerdWallet (2026-05-31, 2026-09-01), AwardWallet, CreditOdds for 2025-2026. Q4 2026 (restaurants, entertainment, utilities) is live as of 2026-10-01.
- 0% intro APR on purchases and balance transfers for 15 months, then 17.74%, 21.74%, 24.74% or 26.74% variable. BT fee is 3% in the first 15 months, then 5% on any later promotional-APR transfer. Cash advance fee is the greater of $10 or 5%.
- Rewards redeem 1:1 as statement credit, check/direct deposit, or credit for purchases. After the Capital One move: no redeeming toward the minimum payment, $25 minimum for gift cards, no Apple Pay 'Pay with Rewards'. NerdWallet reports Discover and Capital One rewards stay separate (not convertible to Capital One miles).