Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Discover Cashback Checking
Old 04-25-2015, 02:00 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
Discover Cashback Checking

Usually, I just toss out ads from my mailbox to the recycle bin.

But I got one today from Discover saying I can join up, get $50 free, plus features like a free check reorder which is missing on my current checking account.

Well, to rephrase, I haven't pitched the Discover mail yet
__________________

__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-25-2015, 11:26 PM   #2
Recycles dryer sheets
Ticker's Avatar
 
Join Date: Nov 2013
Location: waldheim
Posts: 126
I opened up a savings account with them today. offering .9%, $50 bonus money with $5k or more deposit. money remains liquid, fdic insured.
beats the heck out of the .02% I was getting at the bank.
__________________

__________________
Prepare today for the demands of tomorrow. Plan your move.
Ticker is offline   Reply With Quote
Old 04-26-2015, 12:12 AM   #3
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 2,423
I've had a Discoverbank Savings account for years. It paid .80% or .85% and it recently went up to .90%.

Last August I got a mailing from them offering a $50 promo for opening a checking account with $25. Heck yeah, I can do that for $50!

It was simple to do online with a transfer from the savings account. They sent a debit card and plenty of checks. One of the easiest bank promos I've done and I've done many.

I was going to only keep it open long enough to fulfill the promo agreement but instead decided to keep it and use the checking account for our twice a year property taxes.

Discoverbank has a very nice easy to use app. I use the Discoverbank account for making online check deposits, you know the kind where you take a picture of your check. Our home "neighborhood bank" still doesn't have that ability.
__________________
Married, both 62. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote
Old 04-26-2015, 06:36 AM   #4
Dryer sheet wannabe
 
Join Date: Nov 2008
Posts: 18
I use the Discover debit card for all my little purchases. Right now they pay $0.20 cents per transaction. On a $1.00 soda, that's 20% Cash Back!!!!
Or an apple for lunch,
small bag of chips.....
__________________
heikejohn is offline   Reply With Quote
Old 04-26-2015, 07:24 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
Thanks for the info. I went ahead and set up the account.

Don't know if I'll eventually make this my primary checking account or not. But at the very least, use it for my check writing. It will be nice to get free checks instead of paying the hefty check printing fees at my local bank.

Plus, free money for signing up is free money
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is online now   Reply With Quote
Old 04-26-2015, 09:09 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Jul 2002
Posts: 1,037
I've had a Discover online savings account for a couple of years. Was offered the checking last year with a $50 incentive and took them up on it. Since I can access both accounts online I've found the checking useful for quickly tapping the savings account without waiting for a ACH transaction to process. Log-on, move money to checking and it is effective and available immediately. Otherwise only keep about $100 in the checking. It's not the households primary account but has come in handy when either local account is low or when I need a check and wife is out and about with the household regular checkbook.
__________________
RE2Boys is offline   Reply With Quote
Old 04-26-2015, 09:37 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
Has anyone used the Discover cashback checking as their primary checking account?

It would be easier to focus on balancing one account each month, plus the 10 cent cashbacks.

I'm debating in my own head to try and set up all the ACH transactions to the Discover checking vs just using the Discover for writing checks, and keep my current checking for the automated payments. I'd still need a local account, for example to deposit the loose change from my piggy bank .
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is online now   Reply With Quote
Old 04-26-2015, 10:18 PM   #8
Dryer sheet wannabe
StikyBoots's Avatar
 
Join Date: Aug 2013
Location: Olathe
Posts: 24
I have a Discover checking account as my primary account and a savings account at a local credit union to provide those services that an online bank cannot.

The Discover cash back is limited to $10.00 a month. I have it set up to automatically send ~$1 every week to every utility, student loan, mortgage, and credit card that I am using. I always hit the $10.00, but my statements will make you go cross-eyed.

Sent from my SAMSUNG-SM-G900A using Early Retirement Forum mobile app
__________________
StikyBoots is offline   Reply With Quote
Old 04-27-2015, 01:25 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Quote:
Originally Posted by StikyBoots View Post
I have a Discover checking account as my primary account and a savings account at a local credit union to provide those services that an online bank cannot.

The Discover cash back is limited to $10.00 a month. I have it set up to automatically send ~$1 every week to every utility, student loan, mortgage, and credit card that I am using. I always hit the $10.00, but my statements will make you go cross-eyed.
Very clever. I will have to try that. I did get the $50 sign up bonus and forgot to start using the debit card for small purchases.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is online now   Reply With Quote
Old 04-27-2015, 07:17 AM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
Quote:
Originally Posted by StikyBoots View Post
I have a Discover checking account as my primary account and a savings account at a local credit union to provide those services that an online bank cannot.

The Discover cash back is limited to $10.00 a month. I have it set up to automatically send ~$1 every week to every utility, student loan, mortgage, and credit card that I am using. I always hit the $10.00, but my statements will make you go cross-eyed.

Sent from my SAMSUNG-SM-G900A using Early Retirement Forum mobile app
I'm surprised the ~$1 every week isn't flagged as irregular.

Does ACH transactions also get a dime per transaction? Or only bill pays, debit purchases and cleared checks?

This "dime here, dime there" kinda reminds me of being a kid, saving those old Bazooka Joe comics for prizes
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is online now   Reply With Quote
Old 04-27-2015, 08:33 AM   #11
Dryer sheet wannabe
StikyBoots's Avatar
 
Join Date: Aug 2013
Location: Olathe
Posts: 24
I wouldn't be surprised if they flag my automatic rewards generation. I usually get to 125 or more transactions so I could reduce the number of them and still be OK most months. February I got pretty close to being short!

I'm pretty sure ACH transactions do not count.
__________________
StikyBoots is offline   Reply With Quote
Old 04-27-2015, 08:40 AM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
I didn't think ACH would count, which is what I have set up mostly.

With the cashback bonus checking, the question for myself is which I prefer, convenience vs earning a bit.

Another alternative is to use the $50 bonus to buy a box or two of checks from my regular bank. That might last me my lifetime
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is online now   Reply With Quote
Old 04-27-2015, 09:59 AM   #13
Recycles dryer sheets
PhrugalPhan's Avatar
 
Join Date: Jul 2014
Location: DC 'burbs
Posts: 119
Quote:
Originally Posted by StikyBoots View Post
The Discover cash back is limited to $10.00 a month. I have it set up to automatically send ~$1 every week to every utility, student loan, mortgage, and credit card that I am using. I always hit the $10.00, but my statements will make you go cross-eyed.
I signed up for the $50 bonus a few months ago. I rarely use it (Aldi's mostly). But using what you are showing above.... hmmmm.... it has possibilities.
__________________
PhrugalPhan is offline   Reply With Quote
Old 04-27-2015, 11:03 AM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
Quote:
Originally Posted by PhrugalPhan View Post
I signed up for the $50 bonus a few months ago. I rarely use it (Aldi's mostly). But using what you are showing above.... hmmmm.... it has possibilities.
Is the Discover cash back debit card fee free at Aldi (a lot of rhymes, I know)?

My current bank charges a 35 cent fee each purchase for the "privilege" of using debit at Aldi. No doubt, I pay by cash when I can.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is online now   Reply With Quote
Old 04-27-2015, 12:31 PM   #15
Recycles dryer sheets
PhrugalPhan's Avatar
 
Join Date: Jul 2014
Location: DC 'burbs
Posts: 119
Quote:
Originally Posted by easysurfer View Post
Is the Discover cash back debit card fee free at Aldi (a lot of rhymes, I know)?

My current bank charges a 35 cent fee each purchase for the "privilege" of using debit at Aldi. No doubt, I pay by cash when I can.
As far as I know it is fee free. I have only done a few purchases and assumed so. I guess I should check online to be sure. Something to do tonight.
__________________
PhrugalPhan is offline   Reply With Quote
Old 04-27-2015, 12:34 PM   #16
Dryer sheet wannabe
StikyBoots's Avatar
 
Join Date: Aug 2013
Location: Olathe
Posts: 24
There isn't any charges for Aldi. I do not know about out of network ATM charges or refunds for out of network ATM fees.

Sent from my SAMSUNG-SM-G900A using Early Retirement Forum mobile app
__________________
StikyBoots is offline   Reply With Quote
Old 04-27-2015, 12:52 PM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Quote:
Originally Posted by easysurfer View Post
This "dime here, dime there" kinda reminds me of being a kid, saving those old Bazooka Joe comics for prizes
I have a long list of dime here, dime there things to cut expenses and little ways to make extra money without much ongoing effort (not including investment income, SS or pensions). My pièce de résistance will be when the dime here and dime there income exceeds our annual expenses. One of my books refers to it as collecting thousands and thousands of nickels.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is online now   Reply With Quote
Old 04-27-2015, 01:11 PM   #18
Recycles dryer sheets
PhrugalPhan's Avatar
 
Join Date: Jul 2014
Location: DC 'burbs
Posts: 119
Quote:
Originally Posted by daylatedollarshort View Post
I have a long list of dime here, dime there things to cut expenses and little ways to make extra money without much ongoing effort (not including investment income, SS or pensions). My pièce de résistance will be when the dime here and dime there income exceeds our annual expenses. One of my books refers to it as collecting thousands and thousands of nickels.
Sometime we will need to compare techniques. I've got one DRIP that is funded monthly exclusively from money that most people pay monthly but I've been able to avoid since 2007. About $1/day I am saving and investing, the latest quarterly dividend was over $30. Not earth shattering, but it adds up without any real effort.
__________________
PhrugalPhan is offline   Reply With Quote
Old 04-27-2015, 01:21 PM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
The fee free at Aldi could be a clincher for me thinking about using the Discover checking as the primary. I'm already thinking that way as in a couple of days I need some repair work done by a maintenance person at the building where I live. My mind went, if I give a check and had a cash back check, that would have earned me a dime
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is online now   Reply With Quote
Old 04-27-2015, 01:59 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Quote:
Originally Posted by PhrugalPhan View Post
Sometime we will need to compare techniques. I've got one DRIP that is funded monthly exclusively from money that most people pay monthly but I've been able to avoid since 2007. About $1/day I am saving and investing, the latest quarterly dividend was over $30. Not earth shattering, but it adds up without any real effort.
Sounds good. I'll pm you. This is my fave hobby these days. I don't have anything super secret - I just collect different ideas from forums, friends and books and it all adds up.

Someone wise told me a long time ago if you can figure out how to make $1 a day without much effort, then all you have to do is lather, rinse, and repeat.
__________________

__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
From totally free checking to totally fleece checking easysurfer FIRE and Money 47 06-30-2012 02:23 AM
DC Cashback Bonus mickeyd FIRE and Money 0 06-18-2011 02:00 PM
Good Rewards Cashback program- not cc bizlady FIRE and Money 15 06-25-2010 02:31 PM
Discover Card Cashback Bonus Time mickeyd FIRE and Money 5 02-02-2010 04:00 PM
Discover Card - Get new one and get higher refund dex FIRE and Money 8 09-27-2004 10:09 AM

 

 
All times are GMT -6. The time now is 07:39 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.