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Super Contributor
longtimelurker
Posts: 8,166
Registered: ‎04-22-2013
0

Re: Discover question. Is this a bad thing?


enharu wrote:
Haha yea I don't want them to close my account lol. I'm wishing for an auto CLI or sp CLI so I guess I will avoid messing with this

Yes, potential gains are far too small, the math for the TYP is very different....

Regular Contributor
pt2005
Posts: 129
Registered: ‎10-12-2012
0

Re: Discover question. Is this a bad thing?

OP: I strongly suggest you NOT do this.

You only gain $120/year, but you may end up losing more since it's going to your girl friend. It is hard to get the $$$ back, right?

 

Just my 2 cent.

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Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Discover question. Is this a bad thing?


pt2005 wrote:

OP: I strongly suggest you NOT do this.

You only gain $120/year, but you may end up losing more since it's going to your girl friend. It is hard to get the $$$ back, right?

 

Just my 2 cent.


Haha she'll be paying me back as cash or something. 

 

Thanks a lot for the advice though. I decided not to do this.

Just had my Discover statement for the 1st time after getting approved 2 months ago. 

$249 worth of cashback :smileyvery-happy: They need to do some adjustments to fix my cashback rate (first 3k was calculated at 0.25%), so I should be getting $22.50 extra in the next statement.

Most of it thanks to ShopDiscover! A lot of the cashback rates are much better than fatwallet and I'd use shopdiscover whenever the rates are much higher than Chase UR as well.

 

Now I wish they gave me a higher CL so I can use it more haha.

 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Contributor
navigatethis12
Posts: 1,954
Registered: ‎01-24-2012
0

Re: Discover question. Is this a bad thing?

I don't think they would close an account over something so small. There are people who do this and there have been no reports of account closures. They didn't come up with it for people not to use it.

Established Contributor
knoregs
Posts: 574
Registered: ‎06-04-2012
0

Re: Discover question. Is this a bad thing?

It would seem this would be a legitimate way to pay rent IF rent was < $1,000. I thought the cap was $500 though? hmmmm ~kn

EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15
Regular Contributor
culture
Posts: 201
Registered: ‎02-27-2013
0

Re: Discover question. Is this a bad thing?

I don't understand the comments that this will raise flags.  Why would they put something with a cap and then penalize you from using that service ?

Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Discover question. Is this a bad thing?

My cap is $500 too. I had seen this too, and the apr will be 0% if you're still in the promo period :-D
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Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Discover question. Is this a bad thing?

I'm using the iphone app and here's what it says:

 

"You can send up to $400 a day, and up to $1000 per month."

 

I'm debating whether to do it lol. Sounds like I can actually use this to pay for part of my rent.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Super Contributor
longtimelurker
Posts: 8,166
Registered: ‎04-22-2013
0

Re: Discover question. Is this a bad thing?


enharu wrote:

I'm using the iphone app and here's what it says:

 

"You can send up to $400 a day, and up to $1000 per month."

 

I'm debating whether to do it lol. Sounds like I can actually use this to pay for part of my rent.


Only if you use it to *really* pay your rent and not use the tactic described in your first post!  

Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Discover question. Is this a bad thing?

haha yea i know.

my rent payment is now more than $1000 (just moved), but I am thinking maybe I can do $800 a month since that's what I wrote on my app when I was staying elsewhere.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

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