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For those of you who are cardholders of the Discover It Credit Card, you’re already enjoying the benefits of getting 5% cash back on rotating categories and 1% cash back on all other purchases.
Even though we thought it wasn’t possible, this card just got a lot better. They used to have a $100 dollar sign-up bonus tied to this card, but they recently decided to get rid of this promotion and replace it with doubling your cash back your first year.
If you’re already familiar with the credit card market, you already know that one of the best cash back credit cards around right now is the Citi Double Cash Card, granting you 2% back on all purchases. Now that Discover is giving you double your cash back on all purchases.
Instead of 1% – 5% back on all purchases, you’re now effectively getting 2% – 10% in cash back – at least for your first year. By using their online shopping portal, you can actually earn 10% – 80% off of specific online purchases. Read below to find out how.
Quick Review of the 5% Cash Back Categories
Like other credit cards, Discover promotes a 5% cash back bonus each quarter depending on the type of product/service that you purchase. If the item that you’re buying doesn’t fall into that category, you’re going to get 1% cash back instead, which is pretty standard among other rewards credit cards.
This 5% cash back is only included on purchases of up to $1,500 dollars per quarter. If you happen to go over this limit, you’re still going to get that 1%. In order to maximize savings, it’s important to follow the Discover Cash Back Calendar to figure out when you can get 5% back. We can see the calendar by viewing the image below:
My personal favorite is getting 5% cash back on gas from January to March and 5% back at restaurants from April to June. I used to ignore the 5% cash back on Amazon.com purchases from July – September after getting Amazon Prime Store Card, but now that I get double cash back, I’m essentially getting 10% off all Amazon purchases this summer.
What Is The Discover It Card?
The Discover It Card is one of the best credit cards out there for getting cash back, mostly for three reasons:
1. It has one of the best shopping portals around (5% – 40%)
2. Discover allows you to get 5% cash back on rotating categories that change quarterly
3. you can now double the cash back that you earn your first year.
Here’s a quick summary of everything that the card has to offer:
- No annual fee
- 5% cash back dependent on categories that change quarterly
- Excellent online shopping portal granting you 5% – 50% cash back
- 1% cash back on all other purchases
- Free overnight shipping for card replacement
- First late payment fee waived
- Cash back never expires and can be used at Amazon checkout
- New ‘Freeze It’ feature allows you to freeze or unfreeze misplaced cards within seconds
- Free FICO credit score on every monthly statement.
The no annual fee and first late payment waived is what truly does it for this card.
So How Do I Get 2% – 10% Cash Back On This Card?
You can double your cash back on all purchases just by using the Discover It Card like you normally would. Before you’d be getting 1% – 5% back on all purchases every month. However, Discover will now double all cash back that you earned, effectively making your cash back total 2% – 10%.
Keep in mind that this extra cash back bonus will be rewarded to you whenever your one-year timeframe is up. So if you applied for a card in July of 2015, you’ll receive the bonus around August or Sept of 2016.
If you’re looking to receive an immediate 2% cash back on all purchases at the end of each month instead of waiting an entire year, we recommend the Citi Double Cash Card.
This promotion is only available to new members. What if I already have a Discover It Card?
If you haven’t noticed, the double cash back at the end of the year bonus is only available to new members. However, a quick phone call can change this. Simply call the number on the back of your Discover It Card and tell them that you would also like to participate in the Double All Cash Back Your First Year Promotion.
Even after you’ve used the card for an entire year and the promotion is no longer valid, I recommend calling Discover back up and seeing if you can extend the promotion for an extra year because you love using the card so much. I haven’t been able to try this as of yet because this promotion is recent and one year hasn’t been able to pass. If you try it, let me know how it goes!
You Can Actually Earn Up To 80% Cash Back With The Discover It Card
A Quick Introduction To Shopping Portals
Before we dive into getting up to 80% cash back, we need to briefly cover shopping portals. For those of you not familiar with them, they are basically websites that you go through to make an online purchase. In exchange for using their affiliate links, they give you a portion of the commission that they earn.
A good example of a cash back portal (and my personal favorite) is BeFrugal. Let’s say we want to buy this iPad at Walmart.com for $349 dollars. They are currently offering a promotion where you get up to 10% off of everything purchased on the Walmart webpage.
Instead of directly going to their webpage, we first go to BeFrugal, search for Walmart, click on their link and then get redirected to the Walmart webpage. (Use my referral link to sign-up to BeFrugal.com and get a free $5 dollars!).
From there on, everything you buy will give you up to 10% cash back (with a minimum of 4%). After you receive a total of $20 dollars in cash back, you can request that a check be sent to your address. BeFrugal earns cash, you earn cash, so everybody wins.
What Does The Discover It Card Have To Do With This?
If you didn’t know, Discover also has their own online shopping portal, granting you cash back every time you go through one of their links. The only requirement is that you use your Discover Card at checkout, or else you won’t receive your bonus.
The Discover Cash Back portal has quite a few deals that beat any other cash back portal. We’re going to take a look at a select few. Let’s start with Apple.
By using your Discover It Card, you’re going to to receive a bonus of 5% cash back on all purchases made on Apple.com. But now that we get double our cash back at the end of the year, we’re actually getting 10% off all purchases made at Apple.com.
Here’s a quick outline of the steps below:
1. Log-in. Log-in to your Discover It online account. Click on the rewards tab at the top of the page and then go to Discover Deals.
2. Find Apple. Browse through all of the stores that Discover offers cash back to until you find Apple Online. Click the links and follow the instructions to be redirected to the Apple Online Store.
3. Make a purchase. When you’re on the Apple page, make a purchase like you normally would. At the end of your billing cycle you’ll receive 5% cash back on your purchase in your Discover Cash Back Account. After one year of owning the Discover It Card, you’ll receive an additional 5% cash back, effectively making your cash back rate 10%.
Just be sure to use your Discover It Card upon checkout. If you happen to go over the $1,500 limit per quarter in cash back, you’ll still get 2% back (1% normally and it doubles for another 1%). If you’re worried about using the Discover Card to buy electronics, they have an excellent policy on purchase protection.
Still looking for great ways to save on products at Apple.com? We recommend reading the article on how to get 30% off on Apple products every winter.
So How Do I Get Up To 80% Off?
Discover has a lot of great deals through their online portal. Just remember to calculate double the cash back before making a purchase and comparing other shopping portals.
After browsing their offers, I noticed that by using the Discover Cash Back Portal we can get 40% off of every purchase made off of the Men’s Wearhouse webpage. But since we have the added bonus of getting double cash back our first year, we are effectively getting 80% off!
Don’t Forget To Add An Extra 1% Off
By using the Discover Online Portal (also known as Discover Deals), you get the cash back bonus and the additional 1% cash back on all purchases made using your card.
We just mentioned that we are getting 10% back on all purchases made on Apple.com, but it’s actually 12% (you’d normally get 6% with 5% + 1%, but doubling the cash back gives us 12%). Instead of the 80% off at Men’s Wearhouse, it’s actually 82% off.
If you’re just getting started with credit cards or looking to upgrade, you can’t go wrong with the Discover It Card. It required you to have “good” credit, which basically means a credit score of at least 700.
After getting your card and deciding which one to use when making a purchase, remember to calculate to double all cash back made with your Discover It Card. Since you normally get 1% back on all purchases, you’re now effectively getting 2% – it’s just that half of this will be rewarded to you at the end of one year from owning the card (after 12 billing cycles).
Using the Discover Cash Back Portal (Discover Deals) we know that we can get 12% cash back on all purchases made on Apple.com and even 82% on all purchases made on menswearhouse.com There’s nowhere else where you’re going to find a better deal.
Discover mentioned that this promotion is only valid June – July of 2015, but they might be extending it. In any case, it’s best to act fast before it goes away.
If you have any questions or comments, feel free to leave them below. I’ll be sure to respond quickly. Thanks for reading and happy frugaling!
My name is Jason Wuerch and I'm currently located in Madrid, Spain running a personal finance blog called Frugal For Less. My goal is to help everyone and anyone willing to make and save money through easy and simple ways that don't require much effort. Just because you're frugal doesn't mean you have to give up life's luxuries.