Before getting any credit card you should read all the terms of use and all the fine print. I will highlight some of the things you should know about this cards cash back program before you decide to get it or not.
From the marketing text the card sounds great:
- 5% Cashback Bonus® in categories like travel, home, gas, restaurants, movies and more
- 5% to 20% Cashback Bonus at top retailers through our exclusive online shopping site
- Up to 1% Cashback Bonus on all other purchases automatically
- Unlimited cash rewards
- Increase, even double, your rewards when you redeem for gift cards from our 100 Cashback Bonus Partners
- 0% Intro APR for 6 months on Purchases, and up to 6 months on Balance Transfers*
The 5% cash back in categories such as travel, home, gas, restaurants, and movies are on a per signup basis and changes per quarter. The current Discover More Rewards calendar looks like this:
The Shop Discover is actually a really good program and you can earn up to 20% cash back on purchases as select stores.
Rewards Disclosures: Earn unlimited cash rewards on all purchases. Earn a full 5% Cashback Bonus on category purchases throughout the year by signing up for each program. In addition, earn a full 1% unlimited Cashback Bonus on all other purchases after your total annual purchases exceed $3,000; other purchases that are part of your first $3,000 earn .25%. Warehouse purchases (those made at select warehouse clubs, discount stores and their affiliates) earn .25%. We do not include warehouse purchases or 5% Cashback Bonus program purchases (up to the dollar limit specified in each applicable program) in calculating your total annual purchases to determine your tier level. Rewards are redeemable starting at $20. Rewards have no expiration date; however, if your account is closed for any reason or inactive for 18 consecutive months or if you fail to make the Minimum Payment Due by the Payment Due Date for two consecutive billing periods, your Cashback Bonus will be forfeited. Full terms and conditions will be sent with your card.
One reason I favor my Chase Freedom card still, is because VISA is more widely accepted. All places that accept credit cards will accept visa/master card(except Costco/BJ’s). Not all stores will accept Discover but most restaurants and major stores probably will.
* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the “Apply Now” button, you can review the credit card terms and conditions on credit card issuers website.
July 22nd, 2009 at 10:27 pm
Discover cards are usually for people with sexy credit. If you are a student, you can qualify for a great discover student card with lots of cash back.
July 26th, 2009 at 2:18 am
That is amazing. Rewards are so great. Hopefully i could apply for Discover card.
August 22nd, 2009 at 1:55 pm
Grocery stores offer gift cards, so one can take advantage of that 3 month period to get 5% on other purchases. In my case, Home Depot. Careful not to buy a gift card at anyplace about to go under……
August 22nd, 2009 at 2:01 pm
@joe – That is a really good idea! I got some giftcards when trying to save my cash back bonus a couple months ago. Needless to say, I didn’t make it hehe, but I did end up getting the bonus
4 dollars away from chase 50 dollar bonus
I like where your heads at, taking advantage of the 5% months. Great tip! Check out Joetaxpayers website. http://www.joetaxpayer.com
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August 21st, 2011 at 3:33 pm
great site. thank you for showing us
August 10th, 2012 at 12:01 pm
The rewards structure is still there but now there are two different Discover More Cards, one that offers 15 months on both purchases and balance transfers and another that caters more to balance transfers with no interest for 18 months — but the second only has a 0% purchase rate for 6 months.
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