Discover Checking Bonus?

[Anonymous]

Seems like the $50 bonus for opening a Discover checking account is still available and it's redeemable as a cash back bonus on a Discover card. Would this bonus be doubled by the current 2X promo going on for DiscoverIt cards? Free $100 seems juicy, but I'll take $50 + 10c back on small transactions too if that's not the case.

Also, would opening it cost a HP? Currently bank primarily with Chase and have a couple hundred bucks parked on my school's CU checking account, and wondering if it'll be worth it to deal with another checking account. Thanks in advance for any input!

[kdm31091]

Theres no HP for it, but I would doubt it about the bonus being doubled. Its not really the same as a reward earned with spend and im sure Discover is smart enough to know the difference and not double it.

It seems like a good checking account otherwise. Problem is I almost never pay with debit. If I was in a situation where a place only took debit, lets be honest they probably would also be restrictive enough to not take discover. So for me, wouldn't get meaningful use and the 10c would add up very slowly.

If you dont use debit much, it may not be worth opening a new checking account for the small reward.

[Anonymous]

I can't image the double would apply.  It would be only $50.  I have a checking account through them.  It's OK.  The bonus takes a while and it is taxable.  So factor that in as well.

Cash back, Nice black debit card, Free checks.  It's a nice account.  If I ACH from my regular checking it takes a long ass time so become available.  Like a full 3 biz days for the transfer and then it sits pending and unavailable for a few more days.  Good ATM network near me.  My regular bank and all of their ATM's are in the network.  I don't use it much for ATM but have a few times.  Cash back transfers into Discover CC cash back account which is kinda nice.  The website has been buggy a few times and the customer service when I've called has been bad.

I don't have a ton of confidence in the account and the non local checking with daily withdraw limits so I don't use the account a ton or direct deposit anything into it but it's a nice backup and I did get the $50 bonus from it.  When I'm really on my game I keep some money in there and use the debit for tiny food/convenience purchases to maximize cash.

[Bman70]

The CSRs were saying that all cash back is doubled. They specifically included sign-up bonuses in this (as I and others have logged). I think the computer just looks for cash credits and then doubles it. 

[longtime_lurker]

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@Bman70 wrote:

The CSRs were saying that all cash back is doubled. They specifically included sign-up bonuses in this (as I and others have logged). I think the computer just looks for cash credits and then doubles it. 

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I'll let you know, I got an offer for $25 after my first DD is deposited. If it credits as $50, we'll know.

[Anonymous]

Missed the fine print: "Bonus will be issued by 7/31/15 as a credit to your checking account." Looks like it won't be doubled as it'll be a credit on the checking account rather than a transferable cash back bonus to the It card. 

I think the 10c/transaction may be doubled since it can be redeemed as a "cash back reward to the Cashback Bonus®account of your Discover card," making it effectilvely 20c/transaction (unless anyone disagrees with this logic). Solid for small transactions.

*All quotes are from the Discover checking site.

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@longtime_lurker wrote:

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@Bman70 wrote:

The CSRs were saying that all cash back is doubled. They specifically included sign-up bonuses in this (as I and others have logged). I think the computer just looks for cash credits and then doubles it. 

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I'll let you know, I got an offer for $25 after my first DD is deposited. If it credits as $50, we'll know.

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I think cash back will be doubled at the end of the the 12 statements, so you won't find out anytime soon

[kdm31091]

Id never want a strictly online checking as my only account, so id have to keep two open anyway, which IMO is just a hassle for little gain. Im not gonna buy 20 sodas in seperate transactions to make tiny amounts of rewards lol.

Too much hassle for a 50 dollar bonus. Ive heard a lot of people say ACH is slow with it, too. Bottom line is if you were relying on it as your only checking account I think thatd be bad. As a second account it seems ok, but you have to decide for yourself if its worth the hassle. Even 50 transactions gets you 5 bucks which is better than nothing, yes, but nobody in the "credit card world" like us makes 50 debit charges a month unless they do the tiny purchase thing which is an awful lot of hassle for 5 bucks in this example. To each their own

[Anonymous]

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@kdm31091 wrote:
Id never want a strictly online checking as my only account, so id have to keep two open anyway, which IMO is just a hassle for little gain. Im not gonna buy 20 sodas in seperate transactions to make tiny amounts of rewards lol.

Too much hassle for a 50 dollar bonus. Ive heard a lot of people say ACH is slow with it, too. Bottom line is if you were relying on it as your only checking account I think thatd be bad. As a second account it seems ok, but you have to decide for yourself if its worth the hassle. Even 50 transactions gets you 5 bucks which is better than nothing, yes, but nobody in the "credit card world" like us makes 50 debit charges a month unless they do the tiny purchase thing which is an awful lot of hassle for 5 bucks in this example. To each their own

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Yeah, I do 99% of my banking through Chase. It would be my third checking account and I wouldn't mind parking a few hundred dollars on it and using it to pay for things that costs a few dollars. Still in college, so I make a fair number of small purchases. I swipe whenever I can, so that if it's actually 20c/transaction, it beats any card I currently hold for those purchases. 

[kdm31091]

The plus about it is that at least you can merge the rewards with your discover credit account.

[CreditDunce]

I am fairly sure the Discover banking (savings/checking) computers are different than the credit card computers.  I am required to have two logins because the two don't currently talk with one another.  I don't think there is any chance the credit card double cash promo counting the checking account cash back.

But, the checking account has its own double rewards promo going this quarter.  Each debit, check or online bill earns $0.20 instead of the normal $0.10, max of 100 total transactions per month.

It is a great way to use SD credit cards.  Use the SD card for a small transaction.  Then use the online bill pay to pay the SD credit card off.   Even if ths SD card doesn't earn any rewards, you are still earning 4% rewards on a $5 charge.  It helped me reach the 100 online bill payments this month.   An easy extra $20.  Or $60 if you managed to max out the online bill pay all three months.