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Happy with Discover debit cash back card

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Regular Contributor

Happy with Discover debit cash back card

Just noticed that I got $104.27 last year in cash back for using my debit card. Very happy Smiley Very Happy . They used to give $0.10 per transaction but moved to 1% in the last year.  I think I’m going to focus on paying with credit cards and paying in full every month so that I get more back.  

 

Only reason why I wouldn’t recommend everyone to move is because there are places that don’t accept discover. When I run into this issue, I cover the Discover logo so they don’t see it, I swipe the card, and their system does approve the transaction. I guess their system won’t accept discover credit cards so they assume discover debit cards won’t be accepted as well. As a backup, I always carry a Visa card with me just in case a transaction really is declined. 

 

1% debit cash back paired with 2.1% savings account makes me happy I left have the big banks. (Do I sound like a commercial?) Smiley Surprised

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Super Contributor

Re: Happy with Discover debit cash back card

Glad you had a good experience and also glad you will be moving away from debit cards and toward credit cards for the future.  CCs are far better for many reasons.  But again, congrats on a happy experience for you.

 

I note that you got $104 from a 1% cashback card.  That implies that your card-based spending is over 10k.  You might research the possibility of opening a new card with a good sign up bonus (SUB) every six months.  You could be making well over $1000 every year from the SUBs alone (not counting the cashback from the rewards that the new cards give you, which will often be more than 1%). 

 

The only downside of SUB-chasing is that you have to meet the new card's minimum spending requirement (MSR) to get the SUB.  But you have more than enough spending to meet whatever the MSRs might be.

 

Of course the best way for anyone to get money is to reduce spending altogether -- SUB chasing is fine as long as you are certain that your spending is all for necessities or things you'd buy even if you had no rewards cards of any kind.

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Regular Contributor

Re: Happy with Discover debit cash back card

I never thought about getting cards just so i get SUBs. My oldest card is 13 years ago but my average i think is around years. If i get new card often, my average will never go up or it might start going down.
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