Discover...Had to ask them myself

[Anonymous]

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!

[MissMoni223]

THANKS for sharing!!!

[Anonymous]

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

[GetMeSlick]

txs op. nice share.

[Anonymous]

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@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

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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)

[Anonymous]

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.

[kdm31091]

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.

[Anonymous]

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@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.

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

[Ghoshida]

Ok I have to agree to LTL's hypothesis. 

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

[Anonymous]

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@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

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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!