topic Re: Discover...Had to ask them myself in Credit Cards

Discover...Had to ask them myself

Anonymous — Fri, 19 Jun 2015 15:55:18 GMT

I knew they were doubling the standard 1% cashback and the 5% quarterlies. But I had to ask for myself to see if this was really true.

So 40% cashback in some cases. WOW!

Re: Discover...Had to ask them myself

MissMoni223 — Fri, 19 Jun 2015 16:14:31 GMT

THANKS for sharing!!!

Re: Discover...Had to ask them myself

Anonymous — Fri, 19 Jun 2015 16:17:44 GMT

No problem. I thought this may have been mentioned in the Discover Double Cashback thread, but I wasnt going to read through 500 posts to find out lol

Re: Discover...Had to ask them myself

GetMeSlick — Fri, 19 Jun 2015 16:23:21 GMT

txs op. nice share.

Re: Discover...Had to ask them myself

Anonymous — Fri, 19 Jun 2015 16:24:16 GMT

@Anonymous wrote:
No problem. I thought this may have been mentioned in the Discover Double Cashback thread, but I wasnt going to read through 500 posts to find out lol

Yes, consensus has settled on "all" cashback. Earlier on, CSRs were giving very different answers (such as 1% only, and 1 and 5% but not Discover Deals). However, people will finally find out 12 months from now.

And if too many people put too much on 20% deals, something will happen! (Most likely at first a reduction in those rates)

Re: Discover...Had to ask them myself

Anonymous — Fri, 19 Jun 2015 16:45:57 GMT

I think some of the confusion came from those who signed up in the first day or two. I was late to the game... when I spoke to a rep they seemed quite knowledgeable, and appeared to be reading from a script or reciting from memory. Essential whatever you earn in cash back during the 12 months gets doubled at the end regardless of how it was earned. The ending total is all that matters. I asked them about the $50 referral bonus and was told that it counts as well, as does any retention bonuses.

I am buying a house and plan on using the 5% home depot deal combined with next quarters 5% bonus on some big ticket items... essentially giving me 20% cash back... can't wait.

Re: Discover...Had to ask them myself

kdm31091 — Fri, 19 Jun 2015 16:55:32 GMT

I wouldn't be surprised if some of the Discover Deals payout is scaled back soon. Maybe instead of 20 percent some will be reduced to 10 or something. We will see.

Re: Discover...Had to ask them myself

Anonymous — Fri, 19 Jun 2015 19:44:27 GMT

@Anonymous wrote:
I think some of the confusion came from those who signed up in the first day or two. I was late to the game... when I spoke to a rep they seemed quite knowledgeable, and appeared to be reading from a script or reciting from memory. Essential whatever you earn in cash back during the 12 months gets doubled at the end regardless of how it was earned. The ending total is all that matters. I asked them about the $50 referral bonus and was told that it counts as well, as does any retention bonuses.

I am buying a house and plan on using the 5% home depot deal combined with next quarters 5% bonus on some big ticket items... essentially giving me 20% cash back... can't wait.

The bonus is only up to $1,500 spend, right? But you will still get 10% on the rest.

Re: Discover...Had to ask them myself

Ghoshida — Fri, 19 Jun 2015 20:01:30 GMT

Ok I have to agree to LTL's hypothesis.

I think Discover's planning to shut shop. They'll go down with a bang

Re: Discover...Had to ask them myself

Anonymous — Fri, 19 Jun 2015 20:08:00 GMT

@Ghoshida wrote:
Ok I have to agree to LTL's hypothesis.

I think Discover's planning to shut shop. They'll go down with a bang

Actually, after I posted my initial suggestion, Discover's SVP of Customer Communications contacted me and assured me that Discover is in it for the long haul, they have carefully priced out the possible costs of the double promotion, and see absolutely no risk to their profits and are extremely pleased with their future growth prospects.

So yes, in big trouble for sure!

Re: Discover...Had to ask them myself

woodyman100 — Sat, 20 Jun 2015 11:41:48 GMT

I could be wrong, but I swear that it is "UP TO" double cash back.

i don't think everything will end up being completely doubled

Re: Discover...Had to ask them myself

Anonymous — Sat, 20 Jun 2015 18:59:49 GMT

I was told by the CSR all cashback would be doubled. They could have been wrong(happens more than it should), but I'm not really sure how they would work in an "up to" in there. How would that work?

Re: Discover...Had to ask them myself

Anonymous — Sat, 20 Jun 2015 19:15:42 GMT

@Anonymous wrote:
@Ghoshida wrote:
Ok I have to agree to LTL's hypothesis.

I think Discover's planning to shut shop. They'll go down with a bang
Actually, after I posted my initial suggestion, Discover's SVP of Customer Communications contacted me and assured me that Discover is in it for the long haul, they have carefully priced out the possible costs of the double promotion, and see absolutely no risk to their profits and are extremely pleased with their future growth prospects.

So yes, in big trouble for sure!

Why would they contact you? Is that a joke or are you serious?

Re: Discover...Had to ask them myself

Ghoshida — Mon, 22 Jun 2015 22:16:54 GMT

@Anonymous wrote:
@Ghoshida wrote:
Ok I have to agree to LTL's hypothesis.

I think Discover's planning to shut shop. They'll go down with a bang
Actually, after I posted my initial suggestion, Discover's SVP of Customer Communications contacted me and assured me that Discover is in it for the long haul, they have carefully priced out the possible costs of the double promotion, and see absolutely no risk to their profits and are extremely pleased with their future growth prospects.

So yes, in big trouble for sure!

Oh ok.

So everything's normal.

Cool, now I just need to cash out all of Discover's rewards right now. Nothing special, just felt like that.

Re: Discover...Had to ask them myself

longtime_lurker — Mon, 22 Jun 2015 22:55:23 GMT

@Ghoshida wrote:
@Anonymous wrote:
@Ghoshida wrote:
Ok I have to agree to LTL's hypothesis.

I think Discover's planning to shut shop. They'll go down with a bang
Actually, after I posted my initial suggestion, Discover's SVP of Customer Communications contacted me and assured me that Discover is in it for the long haul, they have carefully priced out the possible costs of the double promotion, and see absolutely no risk to their profits and are extremely pleased with their future growth prospects.

So yes, in big trouble for sure!
Oh ok.
So everything's normal.

Cool, now I just need to cash out all of Discover's rewards right now. Nothing special, just felt like that.

If you and every other Discover cardholder did that, maybe we can start a run on Discover as a bank - just like the Greece banks! RIP Discover

Re: Discover...Had to ask them myself

Ghoshida — Mon, 22 Jun 2015 23:02:35 GMT

@longtime_lurker wrote:
@Ghoshida wrote:
@Anonymous wrote:
@Ghoshida wrote:
Ok I have to agree to LTL's hypothesis.

I think Discover's planning to shut shop. They'll go down with a bang
Actually, after I posted my initial suggestion, Discover's SVP of Customer Communications contacted me and assured me that Discover is in it for the long haul, they have carefully priced out the possible costs of the double promotion, and see absolutely no risk to their profits and are extremely pleased with their future growth prospects.

So yes, in big trouble for sure!
Oh ok.
So everything's normal.

Cool, now I just need to cash out all of Discover's rewards right now. Nothing special, just felt like that.

If you and every other Discover cardholder did that, maybe we can start a run on Discover as a bank - just like the Greece banks! RIP Discover

Nah, I don't think anyone here stashes millions of dollars in Discover CB