topic Re: What to do with my Discover Checking Account in Personal Finance

What to do with my Discover Checking Account

SkyCommander — Tue, 28 Nov 2017 22:27:02 GMT

I have a Discover Checking Account and a Discover Savings Account. With the changes to their "new and improved" cash back system I'm thinking of cancelling the checking account. I had it open for the 10 cents bill pay and with that going away I don't really have a use for it after Dec 1. I'm making good interest on the savings account side so I don't want to leave them entirely and I also have one of their CCs. I have a 5 years old Chase Checking account that I used to do all my bill pay from until I found out about Discover and moved it all there. Should I leave it open? Close? Doesn't really matter?

Re: What to do with my Discover Checking Account

DaveInAZ — Wed, 29 Nov 2017 19:04:08 GMT

I don't think it matters, "relationship" with bank accounts doesn't really seem to matter with Discover, so if you're not going to use it you might as well close it.

I'm closing mine, your post reminded me to transfer the small $21.xx balance to my Disco card, as soon as it posts I'll close it.I never used it much, I opened it a couple years ago for the $50 bonus, I have accounts at 3 CUs and don't have any use for the Discover checking.

Does anyone know if your can close the Discover checking online using the "Contact Us"? I see a PDF form to request closure, but surely you don't have to fill that out & mail it to them just to close a checking account?

Re: What to do with my Discover Checking Account

Anonymous — Fri, 01 Dec 2017 00:17:41 GMT

What also sucks is that Discover took away the "black card" debit card that looked so cool. I just called in to get a replacement because my card was worn out and they sent me a card design that is identical to the Discover IT ocean blue card design. When I called back and asked for my original card design they told me I couldn't have it anymore and that they are using that one for their Money Market Account. So then I asked if I could continue to use my old card since it didn't expire for a while they told me "No" and said they already deactived it and refused to re-activate it.

Yeah, okay Discover...

Re: What to do with my Discover Checking Account

Anonymous — Fri, 01 Dec 2017 07:05:56 GMT

@Anonymous wrote:
What also sucks is that Discover took away the "black card" debit card that looked so cool. I just called in to get a replacement because my card was worn out and they sent me a card design that is identical to the Discover IT ocean blue card design. When I called back and asked for my original card design they told me I couldn't have it anymore and that they are using that one for their Money Market Account. So then I asked if I could continue to use my old card since it didn't expire for a while they told me "No" and said they already deactived it and refused to re-activate it.

Yeah, okay Discover...

If your old card doesn't have a chip, of course they won't re-activate it. What do you expect? They want to put security ahead of you swiping your plastic everywhere just because you like the cosmetics of the card.

Anyways, tonight I applied for a Discover savings account. I get to verification and they ask me 10 questions, all of them answered correctly, yet still wanted me to call in and verify myself. Thanks but no thanks, I'll stick with my Barclays Dream Savings account.

Re: What to do with my Discover Checking Account

Anonymous — Fri, 01 Dec 2017 07:33:45 GMT

Coming in a little hot there. I don't think there is anything wrong with liking the cosmetics of a card, especially if the new design is DRASTICALLY different. The proper customer service response would be to offer me my old design with a chip just like AMEX does with the discontinued Zync card. Cheers!

@Anonymous wrote:
@Anonymous wrote:
What also sucks is that Discover took away the "black card" debit card that looked so cool. I just called in to get a replacement because my card was worn out and they sent me a card design that is identical to the Discover IT ocean blue card design. When I called back and asked for my original card design they told me I couldn't have it anymore and that they are using that one for their Money Market Account. So then I asked if I could continue to use my old card since it didn't expire for a while they told me "No" and said they already deactived it and refused to re-activate it.

Yeah, okay Discover...
If your old card doesn't have a chip, of course they won't re-activate it. What do you expect? They want to put security ahead of you swiping your plastic everywhere just because you like the cosmetics of the card.

Anyways, tonight I applied for a Discover savings account. I get to verification and they ask me 10 questions, all of them answered correctly, yet still wanted me to call in and verify myself. Thanks but no thanks, I'll stick with my Barclays Dream Savings account.

Re: What to do with my Discover Checking Account

Anonymous — Fri, 01 Dec 2017 09:05:06 GMT

@Anonymous wrote:
Coming in a little hot there. I don't think there is anything wrong with liking the cosmetics of a card, especially if the new design is DRASTICALLY different. The proper customer service response would be to offer me my old design with a chip just like AMEX does with the discontinued Zync card. Cheers!

Discover isn't going to go out of their way just to make one customer a chipped card with the old design, that's all there is to it. Do you have a picture of the new debit card?

Re: What to do with my Discover Checking Account

Anonymous — Fri, 01 Dec 2017 19:05:12 GMT

@SkyCommander wrote:
I have a Discover Checking Account and a Discover Savings Account. With the changes to their "new and improved" cash back system I'm thinking of cancelling the checking account. I had it open for the 10 cents bill pay and with that going away I don't really have a use for it after Dec 1. I'm making good interest on the savings account side so I don't want to leave them entirely and I also have one of their CCs. I have a 5 years old Chase Checking account that I used to do all my bill pay from until I found out about Discover and moved it all there. Should I leave it open? Close? Doesn't really matter?

Hi SkyCommander! (Nice handle btw.)

Personally I would just lower it to a couple bucks and keep it open -- given that you want to keep your Discover savings open. Once you have decided to keep the savings open, you're already committed to online banking. The checking account just gives you a bunch of extra stuff at no cost: no minimum balance, free paper checks, free ACH transfers, instant transfers from savings to checking whenever you want, etc.

If, on the other hand, you had no other Discover deposit accounts, then there would be a strong case for closing it. Another argument for closing would be if you could get a signup bonus every year for opening a checking and then closing it six months later. Chase lets you do that for example. Discover, however, limits you to one bonus per deposit account type: checking, regular savings, AAA savings, etc. Once you have the bonus, you can never get it again.

Re: What to do with my Discover Checking Account

Anonymous — Fri, 01 Dec 2017 23:31:56 GMT

I doubt I am the only customer requesting it considering customers have also lost the original rewards but we can agree to disagree on that. Back on topic, and on a positive note, below is the photo of the new debit card next to the Discover IT card (debit is the one in the back of course):

@Anonymous wrote:
@Anonymous wrote:
Coming in a little hot there. I don't think there is anything wrong with liking the cosmetics of a card, especially if the new design is DRASTICALLY different. The proper customer service response would be to offer me my old design with a chip just like AMEX does with the discontinued Zync card. Cheers!

Discover isn't going to go out of their way just to make one customer a chipped card with the old design, that's all there is to it. Do you have a picture of the new debit card?

Re: What to do with my Discover Checking Account

DaveInAZ — Mon, 04 Dec 2017 18:25:45 GMT

I closed my Discover checking this morning. It was easy peasy, I just sent a secure message while logged in asking them to close it. It had a .10 cents balance from rewards, I told them I didn't care about it. The reply confirming closure said they donated the ten cents to Make A Wish.

Re: What to do with my Discover Checking Account

Anonymous — Mon, 04 Dec 2017 20:17:49 GMT

Good to know! I didn't know it was that easy. Since I have opened that checking account with Discover, they have limited how much I can do through the website by redirecting me to call them for everything (ordering a new card, transferring/reddeeming rewards, etc.) so I was thinking I would have to do the same and go through the agony of them trying to keep me from closing it. It's nice to see that it's as easy as sending a secure message

@DaveInAZ wrote:
I closed my Discover checking this morning. It was easy peasy, I just sent a secure message while logged in asking them to close it. It had a .10 cents balance from rewards, I told them I didn't care about it. The reply confirming closure said they donated the ten cents to Make A Wish.

Re: What to do with my Discover Checking Account

SkyCommander — Tue, 05 Dec 2017 18:32:37 GMT

I really like my Discover Savings for all the interest $$ it's given me so I'm keeping that for sure. I had $3 in bill pay cash back that posted Dec 1.

I still have my black checking card! I never even got a notice about the cards getting changed. I never even used it I did it for the online cash back for bill paying. I noticed on the online account it shows that little new debit card picture but I didn't know they actually made it.

Re: What to do with my Discover Checking Account

Anonymous — Tue, 05 Dec 2017 18:57:16 GMT

If your card has a chip, then you will be able to use your black debit card until it expires and then you will be forced into the new blue design you are seeing online.

If your black debit card doesn't have a chip, then Discover will deactivate it without asking you and then send you a secured message saying they sent you the new card--which will be the new blue design.

The latter is what happened to me. Regardless of which route you take, they are MAKING us take the new blue design with the terrible rewards.

I agree with the savings account. If I had one with Discover I probably would have kept it as well but I only had their credit card and checking account so I am getting rid of the checking account since it's worthless now

@SkyCommander wrote:
I really like my Discover Savings for all the interest $$ it's given me so I'm keeping that for sure. I had $3 in bill pay cash back that posted Dec 1.
I still have my black checking card! I never even got a notice about the cards getting changed. I never even used it I did it for the online cash back for bill paying. I noticed on the online account it shows that little new debit card picture but I didn't know they actually made it.

Re: What to do with my Discover Checking Account

Anonymous — Wed, 06 Dec 2017 01:15:39 GMT

Terrible rewards is a bit of an overreaction.

Most people don't play the credit card rewards game like us, so it's actually a great rewards system for the masses.

Re: What to do with my Discover Checking Account

Anonymous — Wed, 06 Dec 2017 01:39:07 GMT

I standby what I said "terrible rewards." There is a reason why majority of the people are getting rid of their checking account with Discover and I don't think they are "overreacting."

However, it sounds like their new rewards system is working for you which is awesome! I'm glad someone got a early holiday present out of the new changes

@Anonymous wrote:
Terrible rewards is a bit of an overreaction.
Most people don't play the credit card rewards game like us, so it's actually a great rewards system for the masses.

Re: What to do with my Discover Checking Account

Anonymous — Wed, 06 Dec 2017 02:15:54 GMT

I don't have a Discover checking account but may think about getting one.

Unless you have numbers to back up "the majority of people" getting rid of the account, I can't take your word for it.

Re: What to do with my Discover Checking Account

Anonymous — Wed, 06 Dec 2017 02:25:02 GMT

I'm not here to argue or to provide substantiation that is easily available for anyone who searches for it. Instead I will say congratulations, if you decide to get a checking account, and thanks for contributing to the conversation

Cheers!

@Anonymous wrote:
I don't have a Discover checking account but may think about getting one.

Unless you have numbers to back up "the majority of people" getting rid of the account, I can't take your word for it.

Re: What to do with my Discover Checking Account

SkyCommander — Tue, 12 Dec 2017 06:23:19 GMT

I've decided to keep my checking account. I sent them a secured message to mail me the new chip enabled card. I'm only leaving a few dollars in it to collect digital dust. More so keeping it for emergency purposes and I can always transfer money quickly out of my savings.