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Discover Year End Summary

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Fico82
Frequent Contributor

Discover Year End Summary

Hey Fico Fam ! , 

         So last night i was doing some thinking and wondering if im getting the most out of my daily driver ( discover ). My total spend on this card for the year was $20,247. Now i wanted to check with you guys if im calculating this correct . Seems like basic math but knowing me could be looking at this wrong lol. So with discover total cash back i made is $263. i spent $1203 in gas , $4162 supermarket , $14882 everywhere else. 

 

Now i just did the math on a new AMEX Bce card that i just got approved for few days ago with there 3% supermarkets 2% gas 1% everywhere else and my calculations for my kind of spending came out to $ 296. $33 more then discover.

 

If i had used my Cap1 card where it gives 1.5% back across the board i would had made $303 ? Roughly $40 more then discover.

 

Now the card i think that would benefit me the most for my kind of spend and only having one card all throughout would be citi 2% double cash . My calculations is $404 that puts it $141 ahead of discover and its 5% rotations.

 

So my questions..

1. Am i calculating this correctly ?

2. is there a better card for me other then citi 2% that im not aware of as a daily for all ?

 

I just want to use one card straight through the whole year without flipping back and forth and just trying to figure out the best one for me . Thanks in advance guys appreciate all the advice .







Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: Discover Year End Summary

yeah, get a DC for 2% baseline, and get a chase freedom and discover it (you may already have it) for 5% rotating categories.

Message 2 of 7
Nomad3
Frequent Contributor

Re: Discover Year End Summary

If it's been a year pick up a 2nd discover it (miles). Unless they changed it, its 1.5% and they match it. So it's really a 3% on everything for the first year card

Most of my spend isn't in the rotating categories so this is also what I'm doing. (I am planning on getting BCE for groceries when I get out of the garden tho, unless a better No-AF shows up by then)
Message 3 of 7
Fico82
Frequent Contributor

Re: Discover Year End Summary

Definetly something to think about , Thanks for the feedback you 2 !







Message 4 of 7
TSlop
Valued Contributor

Re: Discover Year End Summary

That's how I'd do the math.

 

It sounds like your only goal is cash back so the 2% DC would be good. Another option could be the BoA PR if you qualify for the 75% boost. That would put you at a minimum 2.625%, which would have netted you a minimum of $531 (or $436 after the AF). If some of the $14k was in the travel/restaurants, it would have been more that that.

 

My guess is that you are also trying to avoid annual fees, but with the BoA PR, you come out ahead of the 2% card with your spend (if you are their highest rewards tier). I don't know of any other base rate cards that can beat a 2% DC or the BoA PR 2.625% (purely for cash back) off the top of my head.

 

 

Message 5 of 7
Fico82
Frequent Contributor

Re: Discover Year End Summary

Tslop thanks for the reply . Yeah I'm thinking citi DC might be my best bet . I definitely dont qualify for the 75% boost with boa cause I think I read you need to have about 100k in a savings or something like that , I also dont do any travel. you are correct a no annual fee card is definitely what I would be aiming for. Thanks for the reply appreciate it .






Message 6 of 7
Anonymous
Not applicable

Re: Discover Year End Summary


@TSlop wrote:

That's how I'd do the math.

 

It sounds like your only goal is cash back so the 2% DC would be good. Another option could be the BoA PR if you qualify for the 75% boost. That would put you at a minimum 2.625%, which would have netted you a minimum of $531 (or $436 after the AF). If some of the $14k was in the travel/restaurants, it would have been more that that.

 

My guess is that you are also trying to avoid annual fees, but with the BoA PR, you come out ahead of the 2% card with your spend (if you are their highest rewards tier). I don't know of any other base rate cards that can beat a 2% DC or the BoA PR 2.625% (purely for cash back) off the top of my head.

 

 


Ollo Optimum is flat 2.5% on all purchases with no AF but it's invite only. If you don't have an offer on Experian CardMatch or Credit Karma, it's out of reach. Worth checking though. I check CardMatch once a month to see if it pops up for me. 

Message 7 of 7
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