topic Re: Discover Cash Over.. anyone use this feature? in Credit Cards

Discover Cash Over.. anyone use this feature?

Anonymous — Tue, 28 Sep 2010 22:20:40 GMT

Has anyones used this feature of their Discover card? Not sure if I am understanding this correctly (so please clarify), but Discover will allow you to get cash back at the time of purchase-- like a debit card, but is not treated like a cash advance? The cash amount is tacked on to your purchase price on your statement? No fees or interest apply? Just pay your balance when your statement comes?

Re: Discover Cash Over.. anyone use this feature?

Creditaddict — Tue, 28 Sep 2010 22:32:40 GMT

@Anonymous wrote:
Has anyones used this feature of their Discover card? Not sure if I am understanding this correctly (so please clarify), but Discover will allow you to get cash back at the time of purchase-- like a debit card, but is not treated like a cash advance? The cash amount is tacked on to your purchase price on your statement? No fees or interest apply? Just pay your balance when your statement comes?

you are correct, usually this works at grocery stores, allowing you to take $40 I believe. Walmart might allow $60 if I remember correctly.

you can do this on a Walmart card also

Re: Discover Cash Over.. anyone use this feature?

MarineVietVet — Tue, 28 Sep 2010 22:45:51 GMT

@Anonymous wrote:
Has anyones used this feature of their Discover card? Not sure if I am understanding this correctly (so please clarify), but Discover will allow you to get cash back at the time of purchase-- like a debit card, but is not treated like a cash advance? The cash amount is tacked on to your purchase price on your statement? No fees or interest apply? Just pay your balance when your statement comes?

That's exactly how it works. I've only used this feature at Walmart and you can get cash back in increments of $20 up tp $80 at the store I go to.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Wed, 29 Sep 2010 00:27:29 GMT

Does cash over feature qualify for any type of cash back reward?

Re: Discover Cash Over.. anyone use this feature?

MarineVietVet — Wed, 29 Sep 2010 01:52:44 GMT

@Anonymous wrote:
Does cash over feature qualify for any type of cash back reward?

I don't believe it does but don't hold me to that. Wait for others to chime in.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Wed, 29 Sep 2010 06:36:23 GMT

This is interesting ... I've never used this future neither. Because I taught I have to have banking acct with them to get some cash back. If it can be count toward to the rewards program, I love to use this future.

Get some cash back.
Use it to pay for the balance. *Because I do not need/use a lot of cash.
No fee.
No interest like Cash Advance.
5% Bonus Rewards

Re: Discover Cash Over.. anyone use this feature?

KingAdrock — Wed, 29 Sep 2010 20:16:26 GMT

I think I'll be trying this today, especially since grocery stores get 5% cash back until friday. So I'll find out for sure see if the cash received is counted toward your rewards balance.

Re: Discover Cash Over.. anyone use this feature?

DI — Wed, 29 Sep 2010 20:28:10 GMT

I used it maybe 3 times. I never have to go to the ATM machine again. My favorite card of all times.

Re: Discover Cash Over.. anyone use this feature?

DI — Wed, 29 Sep 2010 20:30:49 GMT

@KingAdrock wrote:
I think I'll be trying this today, especially since grocery stores get 5% cash back until friday. So I'll find out for sure see if the cash received is counted toward your rewards balance.

Using the cashback feature with purchases doesn't earn rewards on the amount of the cash one received. You only receive rewards from purchases.

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Wed, 29 Sep 2010 20:53:51 GMT

@DI wrote:

Using the cashback feature with purchases doesn't earn rewards on the amount of the cash one received. You only receive rewards from purchases.

Thanks for the info DI

So, it works same as you purchase a gift card or recharge your gift card with your cc. Ok, I think I will use this cash back future in the emergency cash need situation.

Thanks OP for this thread. I learned something new.

Re: Discover Cash Over.. anyone use this feature?

KingAdrock — Wed, 29 Sep 2010 21:02:29 GMT

@DI wrote:
Using the cashback feature with purchases doesn't earn rewards on the amount of the cash one received. You only receive rewards from purchases.

Too bad, although I'm not surprised. If that were true it'd be a pretty dumb move on Discover's part.

Re: Discover Cash Over.. anyone use this feature?

DI — Wed, 29 Sep 2010 21:07:22 GMT

@KingAdrock wrote:

@DI wrote:
Using the cashback feature with purchases doesn't earn rewards on the amount of the cash one received. You only receive rewards from purchases.
Too bad, although I'm not surprised. If that were true it'd be a pretty dumb move on Discover's part.

My point exactly. That would be like Discover giving you cash for using its money.

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Wed, 29 Sep 2010 23:13:01 GMT

They did not mention whether the interest starts accruing on the day of withdrawal or just like a regular purchase?

Re: Discover Cash Over.. anyone use this feature?

Creditaddict — Wed, 29 Sep 2010 23:47:46 GMT

@Anonymous wrote:
They did not mention whether the interest starts accruing on the day of withdrawal or just like a regular purchase?

regular purchase... When I do it at the grocery, you don't see a charge for the grocery and a charge for your cash, it's one transaction for the total

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Thu, 30 Sep 2010 00:51:41 GMT

@Creditaddict wrote:

regular purchase... When I do it at the grocery, you don't see a charge for the grocery and a charge for your cash, it's one transaction for the total

Good to know. And if we carry the balance, we get to charge the interest with purchase APR ... right?

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Sun, 10 Oct 2010 23:49:58 GMT

One thing that I've never seen discussed is how "cash over" transactions are handled from a merchant perspective.

For example, suppose that I go to Safeway, make a $5 purchase, and specify $60 cash back.

I know that from a card user perspective, it's treated as a regular purchase. However, in such a case, does the merchant fee reflect the full $65?

I assume the answer is "yes", but don't know for sure.

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Mon, 11 Oct 2010 18:09:23 GMT

@Anonymous wrote:
One thing that I've never seen discussed is how "cash over" transactions are handled from a merchant perspective.

For example, suppose that I go to Safeway, make a $5 purchase, and specify $60 cash back.

I know that from a card user perspective, it's treated as a regular purchase. However, in such a case, does the merchant fee reflect the full $65?

I assume the answer is "yes", but don't know for sure.

The merchant has to submit the transaction in a "cash over" field and from what I can see the limit is $100 and the merchant is not charged a % on that fee

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Mon, 11 Oct 2010 19:31:26 GMT

@Anonymous wrote:

@Anonymous wrote:
One thing that I've never seen discussed is how "cash over" transactions are handled from a merchant perspective.

For example, suppose that I go to Safeway, make a $5 purchase, and specify $60 cash back.

I know that from a card user perspective, it's treated as a regular purchase. However, in such a case, does the merchant fee reflect the full $65?

I assume the answer is "yes", but don't know for sure.

The merchant has to submit the transaction in a "cash over" field and from what I can see the limit is $100 and the merchant is not charged a % on that fee

It works 100% like this. And you dont earn reward points on cash-overs because merchant fee dont get charged on them

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Mon, 11 Oct 2010 19:35:03 GMT

Does this apply to all Discover cards or just teh Walmart/Sams Discover cards? And where can this be done? I saw in the thread that someoen mentioned Walmart, but is this an option at all places that accept Discover??

Re: Discover Cash Over.. anyone use this feature?

Anonymous — Mon, 11 Oct 2010 20:13:49 GMT

It applies to all Discover cards (not sure about the co-branded ones except for Walmart discover). And yes, you can get cash-overs at any place that does cash-back on debit cards (and accepts Discover ofcourse)..