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Discover Card~5% Bonus time again
06-25-2010, 05:06 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,674
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Discover Card~5% Bonus time again
__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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06-25-2010, 09:58 PM
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#2
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Recycles dryer sheets
Join Date: Aug 2009
Posts: 141
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I was desperately looking for such post. I am wondering if you have done research on, if Discover can really give you 5% cashback and if yes, how? I read an article which very clearly analyzed the scenes and figured its a marketing gimmick and can not offer you more than 1.54%, this is a ceiling.
As we all know, these companies are not social workers, I wonder how much do they exactly offer. If anyone has signed up for such card and getting a cashback, could you please highlight? If anyone gets the article that I am talking about, could you please post a link? I just don't remember where I read it. I hope someone else has also read it.
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06-25-2010, 10:17 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,145
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I sign up for the Discover 5% bonuses. When you put a charge on the card during the time you are signed up, instead of the regular 1% it's 5%. I have noticed at times for example, when they have the 5% back on gas, my rewards do get bigger faster then. Also, they have their ShopDiscover program that also gives at least 5% back. (Sometimes, I forget to use this though). For example, if I just bought a gadget from TigerDirect. Instead of just signing on and buying from TigerDirect directly, I access their website through www.shopDiscover.com first, then get 5% back for the effort.
__________________
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
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06-25-2010, 10:18 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,765
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Quote:
Originally Posted by noelm
I was desperately looking for such post. I am wondering if you have done research on, if Discover can really give you 5% cashback and if yes, how? I read an article which very clearly analyzed the scenes and figured its a marketing gimmick and can not offer you more than 1.54%, this is a ceiling.
As we all know, these companies are not social workers, I wonder how much do they exactly offer. If anyone has signed up for such card and getting a cashback, could you please highlight? If anyone gets the article that I am talking about, could you please post a link? I just don't remember where I read it. I hope someone else has also read it.
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" get 5% Cashback Bonus on up to $300 in these purchases"
It's a loss leader. It's like that free first hit of heroin. It's only $15 dollars for craps sake.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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06-26-2010, 12:34 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 4,172
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If you like Discover, you might be interested in this Chase copycat.......
https://www.yourchasefreedom.com/
It has the same type of rotating categories which appear to be very similar to the Discover seasonal categories and the same irritating-must-sign-up-every-quarter. At least for 3Q, the limit is 5% on $1500 = $75 vs the lower Discover. The non 5% reward is 1% vs the lower tier 0.25% of Discover for lower spending levels. The Chase is a Visa which, at least in my neck of the woods ,is more widely accepted than Discover. Another Chase irritant is that the bonus part of 4% (vs the normal reward of 1%) is not posted until 2 mos after the quarter ends .........if you think you're signed up and aren't then you could lose the bonus and not realize it until too late.
If you have a Chase checking account, the base reward increases from 1% to 1.25% and you also get 10pts per transaction which makes the reward on a $2 purchase...2pts base + 0.5pt (25% increase in base) + 10pts =6.25%.
On a $10 purchase....10pts base + 2.5pt (25% increase in base) + 10pts =
2.25%.
At least, that's my impression of how it's supposed to work. I haven't had card long enough to actually see the bonus 4% yet.....only the base rewards and the enhancement from the checking account.
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