Discover has brought back a $200 sign-up bonus on the Discover it Cash Back card, and it stacks with the card's first-year Cashback Match.
The offer
- $200 bonus statement credit after you spend $500 in the first 3 months.
- Cashback Match: Discover matches all the cash back you earned at the end of your first year, which works out to double cash back in year one.
- 5% cash back on rotating quarterly categories (up to a quarterly cap; see Discover's terms), and 1% on everything else.
- 0% intro APR for 15 months on purchases and balance transfers, then 18.74% to 28.74% variable APR. A balance transfer fee applies.
- No annual fee.
- End date: none published.
Terms are from Discover's Discover it Cash Back page, checked Oct 22, 2026.
Apply: see the Discover it Cash Back card listing.
Why it matters
Most no-annual-fee cards offer either a cash bonus or Discover's year-one match, not both. With a $500 spend requirement, the $200 is one of the easiest bonuses to earn right now, and the match doubles whatever you earn in the first year.
This offer may make sense if you want a no-fee card, are newer to credit cards, or can use the rotating 5% categories. Applying means a hard credit inquiry. Interest charges would quickly outweigh the rewards, so it works best if you pay in full each month.
Compare it with other current offers on our cards page, and see our sign-up bonus vs. annual fee guide.
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