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Looking for a credit card that rewards both you and your friends? The Discover it® credit card is a standout choice, especially with its generous $100 referral program.
This comprehensive review breaks down exactly how to get your free $100 statement credit when you apply and how existing cardmembers can earn hundreds more by sharing the love.
How the Discover it $100 Referral Bonus Works: A Win-Win Program
The Discover it “Refer a Friend” program is a highlight, offering a $100 statement credit to both the referrer and the new cardmember. This makes it one of the most attractive credit card sign-up bonuses available, especially for those looking to maximize rewards.
For the New Discover Card Applicant (You Get Free $100!)
* Use a Referral Link: To qualify for the $100 bonus, you must apply online using a unique digital referral link provided by an existing Discover cardmember. Searching and applying directly on Discover’s main site or via other methods typically won’t trigger this specific referral offer.
* Get Approved: Once your application for a new Discover card (e.g., Discover it Cash Back, Discover it Student Cash Back) is approved, you’re one step closer.
* Make Your First Purchase: The final step to receiving your $100 statement credit is to make your first purchase with your new card within the first three months of account opening. This can be any qualifying purchase; balance transfers and cash advances usually don’t count.
* $200 Bonus Potential: Here’s where Discover stands out! The Discover it credit card features an Unlimited Cashback Match for new cardmembers. This means at the end of your first year, Discover will automatically match all the cash back you’ve earned – including your $100 referral bonus. So, your initial $100 effectively doubles to $200!
For the Existing Discover Cardmember (They Get $100 Per Friend!)
* Be an Eligible Cardmember: Your Discover account needs to be in good standing to participate.
* Share Your Unique Link: Log in to your Discover online account, navigate to the “Rewards” or “Refer a Friend” section, and generate your personal referral link. Share this link via text, email, or social media.
* Friend Applies & Spends: You’ll earn a $100 statement credit for each friend who uses your link, is approved, and makes their first purchase within three months.
* Annual Limit: Discover typically sets an annual cap on referral rewards, often up to $500 per calendar year, allowing you to earn substantial rewards.
Why Choose the Discover it Credit Card Beyond the Referral?
While the $100 referral bonus (and potential $200 with Cashback Match) is a significant draw, the Discover it credit card offers numerous other benefits that make it a top contender for a cash back credit card with no annual fee:
* 5% Cash Back Categories: Earn 5% cash back on rotating everyday categories (like gas stations, grocery stores, Amazon.com, restaurants) each quarter upon activation, up to a quarterly maximum. All other purchases earn 1% cash back. This is a powerful way to maximize your rewards.
* Unlimited Cashback Match: As mentioned, Discover matches all the cash back you earn at the end of your first year. This is a unique and valuable feature.
* No Annual Fee: Enjoy all the benefits without paying a yearly fee.
* No Foreign Transaction Fees: Ideal for travelers, as you won’t incur extra charges on international purchases.
* Freeze It®: A convenient feature that allows you to instantly “freeze” your account from your mobile device or computer to prevent new purchases, cash advances, and balance transfers if your card is lost or stolen.
* Free FICO® Score: Access your FICO® Score for free on your monthly statements and online, helping you monitor your credit health.
* Excellent Customer Service: Discover is consistently highly rated for its U.S.-based customer service.
Is the Discover it Credit Card Right for You?
The Discover it credit card is an excellent option for individuals who:
* Want a cash back credit card with clear, simple rewards.
* Are looking for a credit card with a sign-up bonus that’s easy to earn.
* Appreciate no annual fees and no foreign transaction fees.
* Are disciplined enough to activate quarterly bonus categories to maximize earnings.
* Have friends or family who could also benefit from a new credit card, making the $100 referral bonus program highly lucrative.
Ready to earn your $100 and potentially $200?
Find a friend with a Discover card and ask for their referral link, or consider applying directly and still benefit from the fantastic Cashback Match.
The Discover it credit card truly delivers on its promise of rewarding cardmembers.
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