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Discover .. We need to talk !

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Anonymous
Not applicable

Re: Discover .. We need to talk !


@patoot10 wrote:

Unfortunately the comments on this topic are not addressing the continous nerfing of benefits while keeping in mind that Discover hasn't offered a single new positive benefit since their rebranding years ago.


Discover doesn’t cater to the kinds of customers who use those benefits. The only thing I have ever used on a card is the Member Mall with NFCU and Discover Deals and I’ll admit that I think axing Discover Deals was a bad move. Otherwise, I don’t care about the other benefits and most consumers don’t either. 

Message 21 of 42
pinkandgrey
Senior Contributor

Re: Discover .. We need to talk !

Honestly I’m still very happy with my Disco card and the customer service. Sorry the experience has been bad for you!

Discover It: 21.5k
Amex Cash Magnet: 18k
Fidelity Visa: 16.5k
Apple Card: 4.25k
Message 22 of 42
longtimelurker
Epic Contributor

Re: Discover .. We need to talk !


@Anonymous wrote:


It can easily be argued though that because of the match, the Discover is more useful than those other cards you get just for the SUB though. That’s the point. Disco’s way of doing it is genius because it pushes you to use their card 9 months longer than the competition. 


Well, it could be argued, but it would be wrong!   With Discover Deals gone the maximum the doubled card in the 5% categories will give you is $600, of which $300 won't come until the end of the year.    This is $480 more than with a 2%, which is good, but a) the assumes max out every quarter, and b) an e.g. $500 sub is more valuable, especially as it comes much sooner.    

(I'm still not counting the first year doubling of 1% to 2%, because if you are into rewards you should have a 2% card anyway!)

 

The genius is for Discover and not for the user.   And even then, some of the traditional SUBs encourage HEAVY usage early on, so $4K in three months has some value for the issuer, whereas there is a little point in me spending more than $3K in the first 6 months with Discover.

Message 23 of 42
Anonymous
Not applicable

Re: Discover .. We need to talk !


@longtimelurker wrote:

@Anonymous wrote:


It can easily be argued though that because of the match, the Discover is more useful than those other cards you get just for the SUB though. That’s the point. Disco’s way of doing it is genius because it pushes you to use their card 9 months longer than the competition. 


Well, it could be argued, but it would be wrong!   With Discover Deals gone the maximum the doubled card in the 5% categories will give you is $600, of which $300 won't come until the end of the year.    This is $480 more than with a 2%, which is good, but a) the assumes max out every quarter, and b) an e.g. $500 sub is more valuable, especially as it comes much sooner.    

(I'm still not counting the first year doubling of 1% to 2%, because if you are into rewards you should have a 2% card anyway!)

 

The genius is for Discover and not for the user.   And even then, some of the traditional SUBs encourage HEAVY usage early on, so $4K in three months has some value for the issuer, whereas there is a little point in me spending more than $3K in the first 6 months with Discover.


You are looking at rewards chasers which aren’t even close to the bulk of people who go for credit cards. The average person will get the card, use it for the match, and likely keep using it after the match is over without thinking twice. 

 

Look how many people still use debit cards and earn 0...

 

You can’t throw away my comparison with SUBs on other cards because you brought it up to begin with. Disco’s plan gets most people to use their card for an extra 9 months over a card someone got just for a SUB, it’s a genius strategy. It’s not the dollar amount that makes them money anyway, it’s the swipes, and by removing all of the protections from their cards they pretty much insure that hardcore credit card users won’t be making big purchases anyway but lots of smaller ones = more fees. 

Message 24 of 42
iced
Valued Contributor

Re: Discover .. We need to talk !


@Anonymous wrote:

@patoot10 wrote:

Unfortunately the comments on this topic are not addressing the continous nerfing of benefits while keeping in mind that Discover hasn't offered a single new positive benefit since their rebranding years ago.


Discover doesn’t cater to the kinds of customers who use those benefits. The only thing I have ever used on a card is the Member Mall with NFCU and Discover Deals and I’ll admit that I think axing Discover Deals was a bad move. Otherwise, I don’t care about the other benefits and most consumers don’t either. 


I agree. Discover simply can't take much of the high-spend travel base from the Chase's and American Express' of the world, so it's counter-productive for them to offer those types of benefits. Besides simplicity, occasional discounts, and cashback, what else would one expect Discover to offer, particularly with a no-AF card?

Message 25 of 42
Anonymous
Not applicable

Re: Discover .. We need to talk !


@iced wrote:

@Anonymous wrote:

@patoot10 wrote:

Unfortunately the comments on this topic are not addressing the continous nerfing of benefits while keeping in mind that Discover hasn't offered a single new positive benefit since their rebranding years ago.


Discover doesn’t cater to the kinds of customers who use those benefits. The only thing I have ever used on a card is the Member Mall with NFCU and Discover Deals and I’ll admit that I think axing Discover Deals was a bad move. Otherwise, I don’t care about the other benefits and most consumers don’t either. 


I agree. Discover simply can't take much of the high-spend travel base from the Chase's and American Express' of the world, so it's counter-productive for them to offer those types of benefits. Besides simplicity, occasional discounts, and cashback, what else would one expect Discover to offer, particularly with a no-AF card?


+1

 

In addition, we have no idea what Discover may have up their sleeve. They were the "first" to do CB with a credit card, and the first to change up the SUB from spend X amount and get Y back in Z months to just flat-out doubling all CB earned in a year. I agree with Saeren, it was brilliant on Discover's part. 

 

They may be in a predicament now, but they can easily improved that with a little ingenuity. When CC companies roll things back, especially after a long period of time, I wouldn't put it past them to be preparing for something new. 

Message 26 of 42
mumbogray
New Contributor

Re: Discover .. We need to talk !

When I applied for discover as my first CC, I didn't care about the benefits...but within 2 years, I was using the Price match and extended warranty like a pro!  They became a great reassurance when purchasing.  

 

The death of benefits was felt hard here too OP.  A lot of my spend is on electronics, and I wanted the purchase assurances.  In Oct when discover finally fully nerfed, I got the Citi DC, and Uber Visa.  The Citi purchase assurances + Uber cell phone insurance became the new daily drivers, and discover sock drawered themselves.  

 

In Jan live chat was still available.  They offered me 0APR and congratulated me on my new car purchase, when I wanted to use them for a downpayment.  Now this too is gone.  

 

Discover isn't what they used to be, but they have always been good to me.  The categories are not bad and the card is still useful, but a farcry from what it was.

Message 27 of 42
UpperNwGuy
Valued Contributor

Re: Discover .. We need to talk !


@patoot10 wrote:

At the end of the day American Express remains king of the credit world from day zero and looks like dethroning them is just not gonna happen even though they operate their own limited network unlike Visa or MasterCard.


What's your criteria for crowning Amex as king of the credit world?

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Sapphire Preferred • Chase Freedom Unlimited • United Explorer • UNFCU Azure
Message 28 of 42
UpperNwGuy
Valued Contributor

Re: Discover .. We need to talk !


@patoot10 wrote:

In the last 5 years Discover stock under-performed the market by over 50%. Any smart investor won't put their money on such stock over say VOO or SPY.


Whoa....  Discover is an individual stock, whereas VOO and SPY are mutual funds that follow the S&P 500 index, so your comparison is not appropriate.  Did you realize that a most of the growth in the S&P 500 index is driven by a few successful companies and that the majority of the companies tracked by the index underperform the market?

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Sapphire Preferred • Chase Freedom Unlimited • United Explorer • UNFCU Azure
Message 29 of 42
Anonymous
Not applicable

Re: Discover .. We need to talk !

In your "opinion" Amex is "king of the credit card world" and that's fine you have that opinion. But don't play it off as fact.
Message 30 of 42
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