Description: This article focuses on the discover login, which shows you the most strategic way to maximize Discover Cashback Match. These rewards for Discover cardmembers allow you to earn cash back from using your Discover card, and then redeem it in a variety of ways.
This is Ask Sebby. Today we’re going to talk about why I have 2 discover it cards. First if you are new here, we’re all about how to maximize the ability for credit cards, how to get the most cash back and also how to travel for free. That sounds interesting to discover our channel.
Let’s get started, the discover it card is probably one of my favorite cards, one of the great things about the first year is that you have a cash back match, you earn $500 in cash back, you’re going to get a $500 check, it’s a statement credit, you can transfer that to your bank account, you can apply to your balance or you can use it to work gift cards.
The thing that sucks is that it only applies for the first year of you having the card, but if you get a second card, you get the cashback match again, be aware that the cashback match is only for the cashback on this card, so I won’t get any match on this one.
The great thing is effort to discover 5 X categories instead of earning 5%, you’re earning 10%, I probably matched up three or four of my quarters every year, you’re getting $75 more because instead of getting 75 you’re getting 150 per quarter.
If you look at the total value over a year, you’re getting 300 dollars more, the great thing with discover quarters is that it’s typically place where I spend money or it’s going to be category where I can get gift cards for places I shop.
For example in q1 of 2017 at which gas stations and wholesale clubs, I personally ended up matching up the quarter with gas stations because I found out that 7-eleven for whatever reason in San Francisco at least coded as gas stations meaning that I could go in and buy gift cards for places like Banana Republic and amazon.com places.
For me I know that I’m going to spend money in Banana Republic and Amazon meaning that if I get a thousand dollars on Amazon, in the end of the year or by summer it’s probably going to be gone, the discover it card in the chase freedom is the reason why I don’t have an Amazon credit card.
There is 5% back but a discover one getting 10% back, it was the chase 1 getting 7.5 to 10% depending on how you value your points, outside of the 5x categories I find that discovered deal is a great shopping portal, if you look on one brand, Bloomingdale gives you 10%, Apple gives you 5% and Starbucks gives you 5% as well.
I do most of my shopping online, it’s a no-brainer, I get the rate feed to be a lot better than a lot of other portals, if we go to cashback monitor.com that is a page that compares all the different portals, if we look at Apple, we see that discovery gives us five percent, you will get 10 percent if you’re in your first year.
If you compare it to other programs, the only other best one would be the chase ultimate awards one where you’re getting four points back on the ACE cards, also member war points are worth about one point five to two cents per point depending on how you want to use them.
Four percent means that you’re getting six to eight percent back, to discover you’re getting ten percent cashback, as an ink one you’re getting six to eight percent of return, you redeem that towards travel, but Bloomingdale’s has the same story.
There are eight to ten percent, for me the one is reputable among that list, that’s giving you eight percent, with your Discover Card you’re getting ten percent, that’s different, if we’re trying to get multiple discover encourage yourself as well, there are a few rules to be aware of.
You can only have up to two discover cards at a time, you can only have one student card at a time, you’re also only allowed to have one new card every year, but it’s strange, it’s not the calendar year, for example I’ve got the card in January 1st of 2017, you would think that you would be eligible to get another card on January 1st of 2018.
But it’s delayed, when I tried to call them as I got rejected, I said what’s going on, why I am not getting approved for my second card, they said you have to wait an additional month until you get your cash back, then they will allow you to get this new card.
Even though I was willing to transfer my credit limit, I had a bit of credit limit to do that, they can’t do anything for you, technically even though the rule is 12 months, you’re going to have to wait until 13 months until you get your cash back match.
There’s technically a way to being your first and every single year, but I think for most people it doesn’t make sense, I probably only add a new Discover card when you have a lot of big purchases in the places where the cash back programs are in the future.
You would have your first card, you would get a second one, that’s straightforward, it gets a bit complicated with the third card, you have to decide what you want to get rid of your first one or your second one, I’d probably recommend getting rid of your second one to keep your credit history alive.
You want to keep one card as long as possible because that’s going to help your credit score, the older it is, the better it is, the third one would replace the second one and the fourth one replace the third one, the big question is whether Discover is going to let people do this long term.
I don’t think they’re going to cancel relationships because you’re playing by the rules, they’re not doing anything wrong, I see them modifying the terms in the future, maybe they see a lot of people doing this, maybe the cash back match will only be active on your first time getting to discover it card.
But now given how the terms work, I’ve contacted them a lot about this, they say that as long as you get a new card, this only applies to the new card, so any cash back you get for that card for that year is doubled, they are considering this method or considering getting your first to discover card.
I strongly recommend you to look at the discovery portal because you get so much value from there, there are places like Microsoft, Best Buy before on the portal last year at least, meaning that I am getting a ton of cash back for making big purchases.
I’m nerdy, so I end up trying a lot of different things things like cameras, computers, electronics like Oculus rift, I’m going to be paying the full retail price if I can’t get a discount, why don’t I get cash back on it? This card helps me do that.
The reason why I’m comfortable buying electronics on this card is that they have a lot of protections that you would see on cards that have high annual fees like a sapphire Reserve, here you’re paying a zero annual fee, they probably have some of the best customer service.
To me the two best companies for customer service would be American Express and Discover, as to your extended warranty, if something happens, you’re covered, you have return protection, if you don’t like it within 90 days, you can refund it to discover and they’ll deal with it.
You also have price protection which means that if you buy that from store A and you find a treat in bookstore B or C or D, then they’re going to match their difference, if you buy a Nintendo switch at a higher price at an Amazon seller for $500 and you find it a target but it’s unavailable for $300, they’re going to match the difference.
For me that’s worked out well, it also works for sales, if you are someone who wants to get Black Friday prices but don’t want to line up or deal with the hassle, if you buy the products before Black Friday, you can price match it, as long as the lower price is available at the same time that you purchase it or in the future date, you’re going to be fine.
If you want to compare the price protection perk for cards with the discover it or the city prestige in the shade sapphire reserve, we have a blog post down below, cards like the American Express Platinum Card don’t even have price protection.
I haven’t had the opportunity to try extended warranty, I can’t comment on it, but from what I’ve read online, it’s good, the return protection perk is good but it’s not great, the main reason is that you have to pay for shipping back to discover.
If I bought this Discover Card and I realized that I don’t want it or maybe it’s not what I thought and it past a return period for Amazon, then I can send it back to discover and they’ll take it, but the main thing is that you’re paying for shipping.
If I’m buying something for 20 bucks, it might not make sense to do that, because shipping for this might be ten dollars already, for that perk American Express is probably the best which is better than CFI reserve and the city prestige.
The main reason is that American Express pays for shipping, if you’re looking to apply for to discover it card, make sure to use a referral link, otherwise you’re missing out on $100, when you sign up a referral link, you get $50, it typically takes about two or three statements for it to post on your account.
With the cashback match you’re getting another $50 at the end of the year, before applying make sure to find a friend who has a Discover card or you can feel free to use our link down below which will help us out, alternatively a mail invitation might also work, make sure it mentions the sign up bonus.
I hope that was helpful and let me know if you have any questions, my question for you is if there are any cards that are great that you have more than one, for me the Discover card, the Bank of America better bounce rewards card and the trades freedom cards are good because they give me so much value. Thanks for reading.