WHY IT WINS
Looking to earn the most cash back in the short term? Although it’s pitched as a travel card—paying a flat 1.5% on all purchases—Discover It Miles also delivers a cash-back bonanza in its first year, with a double-your-money bonus that yields a net 3%. For someone spending $2,000 a month, that’s $720 back—the best flat rate you’ll find anywhere. You can even pair this card with the Discover It to get the extra 5% on bonus categories.
After the first year is up, shift gears and do your flat-rate spending on a 2% card instead. Also, Discover has limited acceptance overseas.
Rewards: 1.5 miles per dollar.
Annual fee: $0
APR: 0% on purchases for first 12 months, then 11.24% to 23.24%.
Late fee: $0 for first missed payment, then up to $37 per disclosure.
Foreign-transaction fee: 0%