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2021 Discover it Card Categories - Cash Back Calendar - Earn 5% Cash Back - YouTube
Channel: CreditFast
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today i'm going to share with you the
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discover it cashback categories for
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2021.
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make sure to like this video and
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subscribe to credit fast
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if you'd like to see more but the
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categories
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for the discover it card for the five
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percent categories have just been
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announced
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for next year and it's a little similar
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to
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or mostly similar to what it was last
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year
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and i'm gonna go over this with you
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right now
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also just so you know if you don't have
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this card right now and you're a little
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bit
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worried whether you can get approved for
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it or not later in this video i'll be
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talking about that
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and whether i can help you with a few
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tips on how to get approved for this
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card so let's start talking about the
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discover it cashback categories for
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2021. basically it
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is almost the same as 2020 and it
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works the same way you can spend up to
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fifteen hundred
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dollars in each category or quarter
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and you will earn five percent cash back
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and one percent after that
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now if this is the first year you have
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the card your rewards will then double
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you will ultimately in the end earn 10
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percent cashback
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or 2 cashback
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okay so the first category the first
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quarter
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is january through march and that is for
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grocery stores and you will be earning
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five percent cash back at grocery stores
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and walgreens and cvs also
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you can earn five percent cash back
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rewards
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on your walmart grocery pickups but keep
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in mind
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anywhere else at walmart you will not
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earn that five percent rewards
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and that also includes target but
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overall this is one of the highest rate
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of rewards you can earn
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for buying groceries
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okay so for the second category
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the second quarter for april through
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june
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2021 that is going to be
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for gas station purchases for wholesale
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clubs
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and for select streaming services
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now you're going to have to see which
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streaming services are participating
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but hulu netflix and spotify are
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okay so the third category third quarter
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for 2021 with the discover it card
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is the same as it has been for many past
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years
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and that is restaurants and that is my
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favorite category
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because i think i'm going out more in
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the summertime
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and to get five percent cash back on
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dining
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is a really good reward and i look
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forward to it
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every year and especially when you think
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about it
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many families many people they go on
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vacation during the summer
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so you're eating out so it's a good
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opportunity to earn
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five percent cash back
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and not to forget there's also five
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percent
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on paypal for july through september
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so we're going to be talking about the
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final category the final quarter
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that runs october through december of
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2021
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and of course you're going to expect it
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that it's gonna revolve
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around the holidays and for those three
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months you're going to receive
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five percent cash back at amazon.com
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walmart.com and target.com
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now these three online retailers
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this can be really beneficial to some
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people and
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not a big deal to others you need to
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keep in mind
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for walmart and target this is for the
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online purchases only you can't use this
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in store
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so for someone like me i have the red
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card i could use it
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in the store or online and i'm still
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getting
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five percent back but
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if i'm going to use this reward
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i'm going to have to make my purchases
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online and i'm sure that's very easy to
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do you just do store pickup
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and you'll get your five percent also a
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lot of people are already
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prime members there are so many prime
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members for amazon
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and they have um the credit card so
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they're earning five percent cash back
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so this really is not a game changer for
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them
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either but for some people this
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five percent category for october
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through december can be
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highly beneficial
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okay so this is so very important if you
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are new to the discover
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it card you need to activate
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every quarter these categories
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and fortunately discover will give you a
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few reminders to do that
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but you need to make sure you do that
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otherwise you will not be earning five
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percent
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cash back in these categories
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so now i'm going to give you some tips
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in order to get approved for the
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discover it
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card and if you've liked this video so
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far make sure you hit that like button
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subscribe to credit fast if you want to
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see more
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and share this video with someone if you
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think it could help them
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so now i'm going to be talking about
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what you can do to improve your chances
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of getting approved for this card
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now if you are
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somebody who has fair credit and
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you're getting closer to good credit and
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this is about the time that you could
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potentially get a proof of the discover
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it
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card my recommendation is and i can't
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exactly say that
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it's a 100 percent
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way of getting this card but i i did
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this and i think it worked for me
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that is i signed up for the discover
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scorecard which is their free credit
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monitoring
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and after i had i
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probably waited about six months and i
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got an
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invitation offer in the mail for this
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card
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i even did an unboxing video for it
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years back
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when i finally received the card but i
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think
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that one of the reasons they have the
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discover
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scorecard and they have it opened for
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people that are not discover card
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holders is
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that they can have a base
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to look at and see if they can
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pre-qualify
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people so if you are
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doing a good job of building up your
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credit score and you
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got sign up for this discover scorecard
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i think i truly think that it could help
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you get
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a real pre-approval offer in the mail
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okay so the second strategy i have for
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you
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is if you are an individual that
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either has no credit
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some established credit history in good
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standing or a little bit
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not so good credit history now if you
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have really really low
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credit score low 500s or you've gone
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through a bankruptcy recently
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or you defaulted on a discover account
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you don't want to try this strategy
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so don't do that because if you apply
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for the discover it's secured card
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in this situation you are most likely to
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get denied
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and i don't want you to have an
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unnecessary hard credit inquiry
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on your credit report but you can apply
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for the discover it's secured card and
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when you do that you're asked to put two
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hundred dollars down
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and after eight months your card does
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graduate to unsecured
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during this time this whole time you
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have been earning cash back rewards
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but you're not earning the cash back
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rewards
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uh you're lowering you're earning a
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lower rate of cash back rewards
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but discover allows you to product
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change
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to the discover it card
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that does earn you five percent cash
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back
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in special categories what you need to
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do is
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call in after six eight months and try
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to do a product change
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it doesn't work for everyone but if
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you're able to do that then you'll be
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able to earn five percent
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cash back in those special categories
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however this might not be the strategy
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right for you
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because the very first year of having
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any discover card your rewards are
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doubled
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and if you started out with this secured
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card you started out with a 200
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credit limit and then you probably will
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get a credit line increase after eight
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months
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but your year is almost over
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and if you product change you might only
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have a few months to earn
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five percent cash back in special
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categories or i'm what i mean to say 10
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percent
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because you'll earn five percent and
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another five percent
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so you'll just be at the end of that
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but what you can do
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is keep that original discover card and
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keep it on your account
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for age of accounts and keep it in good
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standing and that helps you build your
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credit score older accounts
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but what you can do is open the discover
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it
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card and then you'll be earning not only
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the five percent
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cash back in special categories but
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you'll have an entire 12 months to earn
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an
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extra five percent bonus on those
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same categories if you go outside of
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that
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you will earn one percent and then
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another one percent so then it's two
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percent outside those categories
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so you can decide how you want to do it
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you can either
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just do the product change leave it at
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one discovered card
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and not care about a 10 percent
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bonus for 12 months or you can go
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ahead and apply for another discover
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card
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this discover it card and then you'll
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get that five percent
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plus the five percent bonus
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so so there you have it you learn the
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categories the quarters
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for the discover it card for 2021
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and you learn some tips on how to get
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approved for this
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card if you found this video helpful
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today make sure you hit that like button
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subscribe to credit fast hit that bell
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notification if you want to see my
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latest
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upcoming videos and check out these
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videos here if you want to learn more
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about
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different credit cards thank you so much
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and i'll see you next time you
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