Caps on the Discover cash back?

Anonymous · ‎06-07-2015

I thought that I understood everything about the new Discover cash back deal, but then I read in another thread someone mention a cap on it. If there a cap on spending or on the amount of cash back I can get? I already changed all of my bills to automate to my discover card. My concern now is that I will be spending too much on the Discover and will somehow cap out the cash back and that maybe I would have been better off by leaving some bills on my QS1 or BCE. Would someone care to explain the caps to me, if there are any?

jason86423 · ‎06-07-2015

Discover has a cap back on its quarterly bonus categories. 5% up to $1500 spend and then 1% on anything that exceeds that spend in those categories. There is no other cap and I verified that with the rep when I had the offer applied to my account. For example If I earn $400 in cash back over the next 12 billing statements on my 13th I will be awarded an additional $400 bonus.

kdm31091 · ‎06-07-2015

The caps are staying in place as normal. 1500 a quarter for the 5% (doubled to 10%) categories.

I think some people are overthinking the promotion and perhaps making it more complicated for themselves. Admittedly, Discover didn't do a fantastic job of laying out the details but the caps and rewards remain the same. The only difference is that at your 13th month your rewards from the previous 12 will be doubled and credited. But for all intents and purposes, your card remains exactly the same for those 12 months, caps, earnings and all.

Anonymous · ‎06-07-2015

Thank you both for the replies. I am new to Discover all together. I have only used it for dining so far since that has been the 5% category since I have had the card. So you are saying that the cap only applies to the category spending. In that case, I feel more confident about moving all of my bills to the Discover, since I will essentially be getting 2% back on them (with no cap) instead of the 1.5% I would have been getting with my QS1. I guess I will continue to use my BCE for groceries since it is 3%.

I appreciate your quick replies. I love this forum for the pleasant member interaction and the quick responses. I have looked at other credit forums that are just plain unfriendly.

Anonymous · ‎06-08-2015

Not to hijack your thread or anything but I totally missed this whole double cash back thing... What's going on??

GoldSorata · ‎06-08-2015

@Anonymous wrote:
Not to hijack your thread or anything but I totally missed this whole double cash back thing... What's going on??

http://ficoforums.myfico.com/t5/Credit-Cards/Discover-Doubles-Cash-Bonus-for-12-Month/td-p/4041642

Anonymous · ‎06-08-2015

Thank you!!!!