In my article on best cash back credit cards, I had included the Discover More credit card as one option, for it stood out as having some of the highest cash back offers I’ve come across. I wanted to provide you an update on this card. If you’re in the market for a credit card and are interested in bonuses and rewards, Discover just sweetened their products further with the following details:
Their consumer card, the Discover More Card, has a new version out that has a cash back component. You can now get the More card with an additional $50 cash back bonus. Here’s a reminder why this card is such a popular choice:
- It provides a full 5% cash back bonus in spending categories like travel, gas, groceries, restaurants, etc.
- You’ll receive 5% to 20% cash back bonus once you become a member on ShopDiscover, Discover’s online shopping site. You’ll be linked to top retailers and be able to receive rewards by making your purchases through this site.
- You’ll get up to 1% cash back bonus on all your other purchases.
- 0% APR for 6 months, 0% balance transfer APR for 12 months.
- Over 150 card designs, for those who care about it
. - No annual fee.
- New: $50 cash back bonus when you spend at least $500 during the first 3 months.
I just recently discovered this card (pun intended), and from what I see, it’s definitely tops for the rewards and the designs . If you like what you read, you can sign up for the card here.
Along with Discover More, there are other Discover credit cards that offer their own set of features and rewards, which you can check below:
Discover Credit Cards
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Discover More Card will give you $50 sign up bonus, 5% to 20% cashback bonus. See details here and here. |
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Discover Motiva Card is less exciting with a laddered cash back rewards program. Double your rewards and earn up to 2% cash back through December 31, 2008. See details. |
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Discover Open Road Card will reward you with 5% to 20% cash bonuses for gas and specific purchases. Double your rewards (2% cash back bonus) for a limited time. See details. |
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Miles By Discover Card will give you 12,000 bonus miles, with double miles through December 31, 2008. Enjoy unlimited miles as well. See details. |
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Discover Student Credit Card offers a full 5% Cashback Bonus on category purchases throughout the year by signing up for each program. You can also earn up to a full 1% unlimited Cashback Bonus on all other purchases.See details. |
I didn’t note this before but you can also increase or double your rewards if you redeem these card rewards for gift cards through Discover’s retail partners. I explored it a bit and found that one of my favorite retailers, where I buy all my house-related materials (Bed Bath and Beyond), is on the list — so on top of those Bed Bath and Beyond coupons I already use, I’m thinking I could get the stuff I buy there further discounted by using a Discover card.
These credit cards size up better than the current cards I have right now, to be honest. I’m also currently researching gas cards at the moment, so I plan to compare Discover’s cards to other rewards cards I’m reviewing to see which gives us the best savings based on our spending patterns.
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- Cash bonus: Discover More [$50], American Express [$25], Lending Club [$25]
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A few months ago, I found out about the consumer More card and signed up for it due to the good benefits you listed above. At the time, I had no clue that the card had any type of promotion attached to it. Lo and behold, when I got my first statement a month later, I saw that my cashback account was credited with a bonus $100 (I guess the promotion was better a few months ago).
Anyhow, it was pure coincidence but I was ecstatic to see it in my account. I love getting money when I least expect it!
It sounds pretty good (better than the flat 1% card i have now.) Is there a yearly maximum on the cash back amount?
@EN
I usually limit my use of cards and I only carry 3 max, but this card is highly tempting. I actually have a Upromise card and I like it for the convenience it allows: it invests your rewards automatically into your 529 account(s). But there are limits to the rewards and I only seem to be receiving 1% in rewards in general. The Discover More has a 5% cash back bonus calendar that targets spending categories throughout the year that you can save on, on top of the 1% rewards for “everything else”. I am also currently researching gas cards, so I’d like to compare this card to gas cards I find out about.
@Chocolate Fetus
You’ll like this because the rewards are unlimited (I gather they are not capped, like the Upromise card rewards that I have) and the rewards never expire, according to their FAQ. Here’s what they say: “if your account is closed, is in default or is inactive for longer than three years, you may forfeit some or all of your rewards.”
Pay per post is so lame
. Can’t you find some other way to make a dime off this blog?
@Pasty Squid,
Actually, this is not a pay per post article (I don’t do paid reviews), and technically, I don’t get paid (directly) to write about stuff like this, but let me qualify. I’ll be upfront and state that if I think a product looks like it has value, is worth your while, and may actually benefit most readers of this site, then I will mention it and probably do a review. In some cases, if someone signs up for the product, I will be compensated for the mention. You get the deal, I get a small bonus out of it, and that’s it.
If you look around, most financial sites will be offering you possible products for consideration — even the most mundane product, such as a book, will provide whoever mentions it, a small “commission” if you buy it. So what’s the big deal?
Those of us who write about a product, stand behind it and believe others will be interested in it and can benefit from it. If you aren’t interested, then ignore it. No biggie, right? Each to his own.
Just for the record, I do a lot of reviews of companies and web sites that do not compensate me. I’ve covered many Web 2.0 companies and startups that I’ve encountered, that were interesting and could be something you may find useful.
I’d like to call posts like these as “product awareness” posts. I may have been late to the game as I haven’t checked up on credit cards lately, being one who owns but a few older cards. With some research, I just realized my cards are out of date and no longer measure up to some great card deals that exist out there, including this one on Discover More. So as part of my financial education, I hoped to share my finds with others as well. Hope this explanation helps!
@ SVB – I wonder if you might be able to contact the people that you have your cards with to see if you can get the more recent (and better) deals on your current account? It might be better than applying for a new card or it could be exactly the same in terms of credit checks and such. I don’t know, but it may be worth a shot.
@Steward,
That’s a great idea actually. I don’t just want to open card accounts willy nilly as I like to keep my accounts as simple as possible. I’m already suffering from investment account overload, which I need to consolidate and clean up. So I’ll try that route and see if I can get a better deal from the credit card companies I already do business with.
If I’m unable to secure a better deal, I am strongly considering “replacing” them with more generous rewards cards. I am thus doing some research and reviews on them right now… I hope to let you know what I find.
I just realized that rewards cards aren’t as “one-size fits all” as I used to think. If you want to benefit from the best rebates and deals, you’d want to do some comparisons across the board…well, just like with any other product!
@ SVB
I completely agree with you about keeping only a small amount of CC. My personal max is 4 cards and I currently have 3 including the Discover More. Currently the bonus categories for More are gas and hotels so the card has been doubling up as a gas card for me too. Good luck updating your cards! There are a lot of great choices out there!
Cash back credit cards are most profitable if we pay our card balance in full every month. If we intend to keep a balance on our card, we might prefer instead to find one that offers a low interest rate.
I’ve been reading your card reviews with great interest as I prepare to get my first new card since paying off all my debit. I know that I probably won’t qualify for one of these great cash back offers, but it’s something to shoot for with my credit score.
Can someone who has this card give me a little information on the 5% bonus categories? Do they have a fixed rotation on the categories paying 5% or is it a random rotation, and what are the actual categories? This card might work for me, if the categories for the bonus cash back are something I would be able to use. Thanks.
@Ruth,
The information on Discover More says this:
2008 Calendar for the 5% Cashback Bonus:
January – March 2008: Airlines, Cruises, Hotels, Car Rentals
April – June 2008: Home, Fashion
July – September 2008: Gas, Hotels
October – December 2008: Grocery Stores, Restaurants, Movies
My suspicion is that the categories *may* be subject to change, but are typically the most popular spending categories people spend on.
@SVB – thanks for the info. Going to have to look at my records to see if this will do any better for me than my current card, but I suspect it won’t. I appreciate your help!
I have a checking/savings account and credit card with Citi. They have a pretty cool rewards program that lets you earn points whenever you use your debit or credit card (around 2 points for each dollar spent).
They also gives you monthly points for each “product” you have ie. a checking, money market account, etc. I’m usually able to cash in my points for a $50 check a few times a year.
It’s not much, but hey – it’s free money.
I hold a Discover card and is one of the best deals. The 5% cash back is a very strong incentive. These days, you need all the incentive you can get. There are so many sham card deals out there.
I love Discover More Card too! its easy to use and is really beneficial if used properly. Just remember to “spend within your limits” and pay your bills on time.