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Established Member
spydermary
Posts: 16
Registered: ‎03-09-2012
0

Cool Discovery with Discover!!

Maybe most of you already know this....but you can get cash over your purchase total when using your Discover card!   No fees involved and APR is your regular purchasing APR.

 

Very cool feature, IMO!

Valued Contributor
crunching_numbers
Posts: 1,093
Registered: ‎02-15-2012
0

Re: Cool Discovery with Discover!!

You can do this with Walmart as well.


Starting Score: 693 TU FICO, 679 EQ FICO
Current Score: 748 TU(12/12), 783 TU98 , 813 TU08 FICO, 744 EQ FICO , 735 EX(9/12), 794 EX08 FICO, 809 EX08 bankcard FICO
Goal Score: 750+, but shooting for the 800's
Hyatt Visa Sig ($23K), Amex BCP (20.7K), BofA Travel Rewards ($17.5), B&N World MC ($17.3K), Amex RP Gold (NPSL w/ S&T), Cash+ Sig (15K), FNBO Visa (13.1K), Hilton Surpass (10K), Freedom Visa Sig ($8.6K), Disc It ($8K), Citi Dia Pref MC ($3.7K),Sam's D ($8.5K), Wally D ($7.5K), JCP($5.3K)
Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
0

Re: Cool Discovery with Discover!!

Dang, I thought it would be considered a cash advance.  Good to know. 

Valued Contributor
thrasher865
Posts: 1,163
Registered: ‎05-21-2008
0

Re: Cool Discovery with Discover!!

Yep.  I use this all the time when on vacation or travelling for work and I need cash.  My checking account is with a local bank, so there are no ATMs outside of my state.  I just go in a grocery store and buy some ibuprofen or something else I'll need on the trip, then get $60 cash over.  You get the normal grace period, plus your purchase APR rate.  This is one reason Discover is my primary card.  The others are competitive rewards program, and the best customer service, IMO.

 

 


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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FrugalRican
Posts: 2,876
Registered: ‎02-02-2012
0

Re: Cool Discovery with Discover!!

So far, for my level of spending, I'm finding that their rewards program is unmatched for gift cards and travel "coupons".

I might have to start spending a little more on it instead of the BCE.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Valued Contributor
crunching_numbers
Posts: 1,093
Registered: ‎02-15-2012
0

Re: Cool Discovery with Discover!!


FrugalRican wrote:

So far, for my level of spending, I'm finding that their rewards program is unmatched for gift cards and travel "coupons".

I might have to start spending a little more on it instead of the BCE.


I always chose the card in my wallet with the highest reward for the purchase I are making. What is best will change quarterly as the catagories change on Discover and Freedom (and Citi, etc...)  The problem with DM is the $3000 level you need to get to 1%. They only get my bonus spending. Amex and Freedom give me 1% right away.

 

For me, groceries are ALWAYS BCP for 6% (no cap)

Gas is 5% when it is the category for Discover or Freedom -or- 3% on BCP when it is not.

Restaurants on DM or Freedom when 5% promo, AMEX gold when no promo available

Hyatt on Hyatt

and so on, and so on....

 

Spending with no special bonus rewards goes wherever I want to accumulate points the most at the moment. I drive DH crazy telling him what card for what and then changing the rules every three months. :smileyvery-happy: 


Starting Score: 693 TU FICO, 679 EQ FICO
Current Score: 748 TU(12/12), 783 TU98 , 813 TU08 FICO, 744 EQ FICO , 735 EX(9/12), 794 EX08 FICO, 809 EX08 bankcard FICO
Goal Score: 750+, but shooting for the 800's
Hyatt Visa Sig ($23K), Amex BCP (20.7K), BofA Travel Rewards ($17.5), B&N World MC ($17.3K), Amex RP Gold (NPSL w/ S&T), Cash+ Sig (15K), FNBO Visa (13.1K), Hilton Surpass (10K), Freedom Visa Sig ($8.6K), Disc It ($8K), Citi Dia Pref MC ($3.7K),Sam's D ($8.5K), Wally D ($7.5K), JCP($5.3K)
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FrugalRican
Posts: 2,876
Registered: ‎02-02-2012
0

Re: Cool Discovery with Discover!!


crunching_numbers wrote:

Spending with no special bonus rewards goes wherever I want to accumulate points the most at the moment. I drive DH crazy telling him what card for what and then changing the rules every three months. :smileyvery-happy: 


Ah yes, the "look of death". I get that too.

"No, you use the Discover, we're at a restaurant and it's 5% cashback."

 

*GLARE*

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Valued Contributor
bribro
Posts: 1,367
Registered: ‎04-20-2012
0

Re: Cool Discovery with Discover!!

Is there a cap on the cashback on top? Do you get points for it?

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
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Valued Contributor
HoldingOntoHope
Posts: 1,057
Registered: ‎09-29-2009
0

Re: Cool Discovery with Discover!!

The cap on the cash back is different at every merchant. $60 is the max at any of them although some have been reported to be lower. Not sure what Discovers daily / statement limit is. You would need to check their website. And no you do not earn bonus cash or count towards spend requirement for this. It will show on your statement as two separate lines purchase and cash over. But like noted previously it is at your purchase APR and I do believe you get the same grace period. So PIF and no extra cost.

Best financial advice I ever got: "Just imagine what an adult would do and do that."

Starting Score: 500's
Current Score: EQ 701 (FICO) TU 721 (FICO) EX 715 (Quizzle)
Goal Score: 760 ALL


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Valued Contributor
bribro
Posts: 1,367
Registered: ‎04-20-2012
0

Re: Cool Discovery with Discover!!

^ Bummer. I was going to lever up and run a month-to-month carry trade. Not worth it with the $60 cap though. :smileyhappy: Still a cool feature for Discover card users.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)

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