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Discover Cash Back Automatic Statement Credit

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CreditInspired
Community Leader
Super Contributor

Discover Cash Back Automatic Statement Credit

Discover is offering "Enroll in a monthly automatic statement credit" for CB redemption.

 

For me, this is a "No, thank you very much." I want my CB dispersed into my checking account so I can transfer to my savings. 


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 1 of 4
3 REPLIES 3
longtimelurker
Epic Contributor

Re: Discover Cash Back Automatic Statement Credit


@CreditInspired wrote:

Discover is offering "Enroll in a monthly automatic statement credit" for CB redemption.

 

For me, this is a "No, thank you very much." I want my CB dispersed into my checking account so I can transfer to my savings. 


I did this a while back, and since I use the card very little, every month I get email saying automatic redemption failed.   This concerned me the first time, but just seems to mean there is nothing to redeem.

 

Since you transfer $x from checking to savings, isn't this similar, assuming that the amounts are pretty similar each month: you get a message that you have $x in statement credit, so you can still transfer $x to savings, because you won't have to pay that (well, next month)

Message 2 of 4
Duke_Nukem
Established Contributor

Re: Discover Cash Back Automatic Statement Credit

I find too much value in their egift card offerings to take statement credits.  You can usually find 10-20% off egift cards for many brands and stores at any time (I'm guessing they are always available for the most part), so I will not be signing up for this service.


Message 3 of 4
Kforce
Valued Contributor

Re: Discover Cash Back Automatic Statement Credit


@longtimelurker wrote:

@CreditInspired wrote:

Discover is offering "Enroll in a monthly automatic statement credit" for CB redemption.

For me, this is a "No, thank you very much." I want my CB dispersed into my checking account so I can transfer to my savings. 


I did this a while back, and since I use the card very little, every month I get email saying automatic redemption failed.   This concerned me the first time, but just seems to mean there is nothing to redeem.

My daughter had this "automatic redemption failed" notice.

She paid prior to statement cutting, so zero balance.

Would not transfer credit, they want to see money to subtract from.

 

Message 4 of 4
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