topic Re: Discover ≤ $200 Sign Up Bonus in Credit Cards

Discover ≤ $200 Sign Up Bonus

kevinjjc — Sat, 08 Dec 2012 18:30:15 GMT

You can choose the bonus offer by using their CardBuilder: https://www.discover.com/credit-cards/get-discover/build-card/

$200 Cashback Bonus for spending $1500 in your first 3 months
$150 Cashback Bonus for spending $1000 in your first 3 months
$100 Cashback Bonus for spending $750 in your first 3 months
$75 Cashback Bonus for spending $500 in your first 3 months
$50 Cashback Bonus for spending $500 in your first 3 months

Re: Discover ≤ $200 Sign Up Bonus

kevinjjc — Sat, 08 Dec 2012 19:10:46 GMT

Anyone itchin' to app for a Discover card?

Re: Discover ≤ $200 Sign Up Bonus

SwiftTone — Sat, 08 Dec 2012 19:26:33 GMT

I think this is a regular offer on Discover more if you pre-qualify for it. Back in April when I applied, I had the same offers. I took the $150/$1000 thinking it would give me more starting CL but apparently it doesn't affect it.

Re: Discover ≤ $200 Sign Up Bonus

Anonymous — Tue, 11 Dec 2012 23:53:35 GMT

This is a trick! Do the math. The ROR on the cash back rates isn't linear.

$200 / $1500 = 13.3%

$150 / $1000 = 15%

$100 / $750 = 13.3%

$75 / $500 = 15%

$50 / $500 = 10%

As you can see, the $150 and $75 cash back deals actually give the best return on your spending over 3 months. Going for the $200 deal would mean spending MORE to get LESS back. How convenient! They would need to offer $225 cash back for $1500 in spending to match the 15% rate.

Re: Discover ≤ $200 Sign Up Bonus

nickn86 — Wed, 12 Dec 2012 00:03:14 GMT

It's still a good deal if you're going to spending the money anyway and don't have too many other spend thresholds to meet for other introductory offers.

Re: Discover ≤ $200 Sign Up Bonus

Jutz — Wed, 12 Dec 2012 00:09:29 GMT

@nickn86 wrote:
It's still a good deal if you're going to spending the money anyway and don't have too many other spend thresholds to meet for other introductory offers.

+1. My thoughts exactly. Decent deal, decent card too

Re: Discover ≤ $200 Sign Up Bonus

Kendro — Wed, 12 Dec 2012 03:29:14 GMT

@Anonymous wrote:
This is a trick! Do the math. The ROR on the cash back rates isn't linear.

$200 / $1500 = 13.3%
$150 / $1000 = 15%
$100 / $750 = 13.3%
$75 / $500 = 15%
$50 / $500 = 10%

As you can see, the $150 and $75 cash back deals actually give the best return on your spending over 3 months. Going for the $200 deal would mean spending MORE to get LESS back. How convenient! They would need to offer $225 cash back for $1500 in spending to match the 15% rate.

What if you spend over $1500 over 3 months in regular spending? Don't go for the $200 as a matter of principle?

Re: Discover ≤ $200 Sign Up Bonus

Anonymous — Wed, 12 Dec 2012 03:32:52 GMT

@Anonymous wrote:
This is a trick! Do the math. The ROR on the cash back rates isn't linear.

$200 / $1500 = 13.3%
$150 / $1000 = 15%
$100 / $750 = 13.3%
$75 / $500 = 15%
$50 / $500 = 10%

As you can see, the $150 and $75 cash back deals actually give the best return on your spending over 3 months. Going for the $200 deal would mean spending MORE to get LESS back. How convenient! They would need to offer $225 cash back for $1500 in spending to match the 15% rate.

Hmm, you pose an interesting take on this. I would like to know more.

I see this offer as CB and nothing more. This isn't an annuity where you would be concerned about calculating RoR over a 3 month period. This is a means of offering a CB savings.

So if money spent was done in the 1st month (and not spread out over 3 months) for a total of $1500, the savings in CB would be > than the amt of return of money spent in 3 months time.

So, Case in Point: A round trip ticket and a hotel stay example:

Total cost for trip is $1500. If i opt for the 200/1500 then I save 200$ making my Total Trip Cost = $1300.

Total cost for trip is $1500. If i opt for the 150/1000 then i save 150$ making my Total Trip Cost = $1350.

But I am intrigued by your take on this. So please oblige and let me know your thinking on this

Re: Discover ≤ $200 Sign Up Bonus

HiLine — Wed, 12 Dec 2012 04:55:18 GMT

You guys are kidding, right?

Re: Discover ≤ $200 Sign Up Bonus

navigatethis12 — Wed, 12 Dec 2012 05:17:39 GMT

@Anonymous wrote:
This is a trick! Do the math. The ROR on the cash back rates isn't linear.

$200 / $1500 = 13.3%
$150 / $1000 = 15%
$100 / $750 = 13.3%
$75 / $500 = 15%
$50 / $500 = 10%

As you can see, the $150 and $75 cash back deals actually give the best return on your spending over 3 months. Going for the $200 deal would mean spending MORE to get LESS back. How convenient! They would need to offer $225 cash back for $1500 in spending to match the 15% rate.

Clearly the only reason to take the lower offers is if you can not spend the higher amounts in three months. Not sure why they have two 500 offers, as you would have to be an idiot to choose the $50 one. If you are going to spend 1500 anyway, it would be incredibly silly to choose the 150 or 75, because then it goes down to 10% and 5%.

Re: Discover ≤ $200 Sign Up Bonus

HiLine — Wed, 12 Dec 2012 05:39:23 GMT

@navigatethis12 wrote:
Not sure why they have two 500 offers, as you would have to be an idiot to choose the $50 one.

Other terms are different.

Re: Discover ≤ $200 Sign Up Bonus

navigatethis12 — Wed, 12 Dec 2012 05:56:06 GMT

@HiLine wrote:

Other terms are different.

I didn't even notice. I never carry balances so the only thing that catches my eyes are the cash offers. Two people from Citi actually asked if I wanted to initate a balance transfer at 12.99 and 17.99 on the new Thank You Preferred and Thank You Premier I got. I really do not think anyone would willingly revolve a balance on either of those; just like the Discover rates.

Re: Discover ≤ $200 Sign Up Bonus

distantarray — Wed, 12 Dec 2012 08:27:39 GMT

if you look at the rest of the chart the higher the sign up bonus the higher the APR you set for yourself also you kill your 0% balance transfers from 18 months to 6 months

Re: Discover ≤ $200 Sign Up Bonus

HiLine — Wed, 19 Dec 2012 22:38:42 GMT

Last chance to select your sign-up bonus before Discover terminates the More card builder.

Re: Discover ≤ $200 Sign Up Bonus

HiLine — Wed, 19 Dec 2012 23:45:08 GMT

Use this link:

https://www.discovercard.com/cardmembersvcs/acqs/app/chooseMyOffer/cardMatch?fmoUpdatedValidationParam=true&icmpgn=1007_ccMORE_mrq_cb_btn

Re: Discover ≤ $200 Sign Up Bonus

QuantumCredit — Sat, 23 Feb 2013 16:12:30 GMT

Sorry to bring this thread back from the dead, but does anyone know if anything like this is possible or may become possile with the Discover It in the near future? I've been getting a lot of It offers for 9.99% APR after 14 months of 0% APR and I would love to trade that 0% APR for a $200 bonus if possible as I never carry a balance.

Re: Discover ≤ $200 Sign Up Bonus

SnackTrader — Sat, 23 Feb 2013 22:31:03 GMT

I am not a psychic, so my knowledge of the future is extremely limited.

But, none of my current "pre-screened" offers from Discover have included any amount of cash back. That is probably the biggest thing holding me back from applying for the IT right now. That and all 4 of my cards are still under 0% promotional periods, so adding another 0% wouldn't do me any good.

Hopefully the minute a forum member receives a cash bonus promotional offer for the IT, they will create a post. It happened earlier today with the Freedom's $200 bonus.