iCreditCardSource.com

Discover card offers periodic 5% cashback bonus programs for purchases at certain vendors. To activate this bonus you have "sign-up" by calling them or from the website. Why do they require this activation instead of automatically applying the bonus? As far as I can tell, you aren't agreeing to anything other than accepting the bonus percentage.

You're correct that you're merely agreeing to what behavior you choose to be rewarded for. One other fact: if you don't act to sign up for a rewards program, in some cases they will choose one for you by default. If it's not the program you want, you must do the work to ask them for your choice.

Discover, like many major credit extenders, knows that they make their most money from those who are lazy, ignorant, self-indulgent, procrastinating, are ashamed of themselves, frightened of authority figures, or defiant.

On the one hand, it is unprofitable to give things away (i.e., cut their own profits) without requiring any effort on the part of the consumer. Along this line, a consumer must now request his/her cashback bonus after it has been awarded: one can no longer wait without any effort for a check or a balance credit. For every day that the consumer delays (including the month waiting period to get the credit on your bill), Discover "enjoys the float," i.e., your won bonus sits in its interest-bearing account earning money for them, because you haven't requested that they surrender the funds you've won.

The smokescreen is that Discover now gives you many options on how to deploy your bonus, as much as doubling its value at some participating vendors. The fact is, you must not only sign up for how you will accrue bonus money, you must request the buying power (gift certificate) or funds once you've won it.

On the other hand, Discover realizes that it has competition, and it must offer rewards that are competitive with other lenders' rewards programs. They are certainly aware of how they rank in rewards comparisons, and they have hidden incentives for the most inquisitive, aggressive consumers. (Call them on the phone and politely ask about solutions they have, AFTER you've told them in a pleasant voice that you're thinking about moving your business elsewhere, unless they can do something today. Keep them talking – interest rates, balance transfers, credit limits – and answering your questions; get them off their scripts. You'll discover that they have an entire department of people hired to keep you as a happy, paying customer.)

So, for one, it offers a relatively high 5% cashback bonus on the first $1,200 in gas station purchases and repairs in your billing year. Again, choices and choices, but underneath, you must do as much work as its focus groups and marketing research department say you must do without your getting so inconvenienced that you quit and try a competitor's rewards.

Please vote: Did this help?

I've never had a credit card because my mom has always told me that they just cause problems. But now that I'm looking for a house, there is NO way I can get away with having no credit in my history. How can I get my first credit card?
I actually tried applying for a Capital One card a few months ago. They denied my application because I had no credit whatsoever, but how am I supposed to gain credit if I'm not accepted?

not sure, if you have time here's a lot of types of cards and more:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
if it helps please remember me
good luck!

Hi. My wife and I both have terrible credit, and are looking for a credit card with rewards such as cash back or sky miles. We use our visa cards that are tied into our checking accounts so much that it is a waste to not get rewards, but it is hard to get rewards with bad credit. Any advise?

Honestly, if you both have "terrible credit" neither of you would be able to qualify for any type of rewards card. The visa cards that are tied your checking account are called Debit cards, and they do not affect your credit score. You would need to first improve your credit score before you decide to apply for anything. Make sure that you pay all of your bills on time and at least the minimum due on any credit cards that you do have. Do this for at least 6 months to a year before you decide to apply for anything.

I don't want them pushing me onto something else, because I would like to have both of those criteria. Would spend money on gas and food (tuition and rent have to be paid in cash).

I have a debit card that gives me reward points, I spent 2000 dollars I got a water bottle! Yes!

You probably need to rethink your requirements. With no credit it will be very hard to get a card with 0% interest for any period of time in combination with any Cash-Back program. You might want to look around your college as they usually have offers for students. Also, the Discover 5% is only for specific purchases, anything else gives you only 1%. Most other Reward programs will give in the 1%-2% range but could also have an annual fee.

You could just apply on-line for Discover but remember that each inquiry could harm your credit score, and with a short/no history you should not really be applying to a lot of places in a short amount of time. Now if you don't get approved you should start off with a Secured Card to build your history.

My parents credit is ruined so having my name on their cards would only hurt my credit. I do have a checking account at my bank, haven't bounced anything, etc. What should I do to get my first credit card?

Whatever you do, please do not sit there and apply for credit card after credit card. Each time you apply for credit, a register is made on your credit file. People can see how many credit facilities you have applied for. If you have applied for 5 credit cards in the last week, they may think you could be a high risk because you might now have 5 credit cards (if you were approved for all of them). Depending on your credit worthiiness (good or bed etc) and your age, a simple google search would bring up the best places to apply. Ie google search 'student credit card' or 'bad credit card'.

Im getting a gold credit card (Australia) with up to 55 days interest free. Im thinking Im going to use it to pay for almost everything, and then put the money straight back on it and reap the rewards! Does anyone have a system they can suggest? Can I pay my home loan and other bills with credit card without it being a 'cash advance (which pays immediate interest). Tell me what you do in case I miss something! Thanks

You're on the right track. The best way is to make all your purchases on the card, and pay it off in full each month. Just make sure you dont get sucked in like a lot of people and buy things you cant afford and end up paying loads of interest, as it's not worth it.

Generally you cant pay a Home Loan or Personal Loan from your Credit card, as most cards wont allow you to "Pay credit with credit" Most bills such as power, phone and cable you are able to pay with your credit card.

I put my pay into a high interest account, and just pull out the required amount each month to pay on the card to avoid interest being charged. Everything possible goes on the credit card.

Here's an article on credit card cashbacks, together with links, that may be of help: http://ezinearticles.com/?Cash-Back-Credit-Cards&id=129695

It is at the back of the credit card or any cards that you first get. It affixes the credit card to the cardboard that comes in the envelope from the bank.

hot glue from the glue gun

I have excellend credit and I love the cash back rewards of credit cards. Right now I have a discover and get 5% cash back on gax, and 1% on everthing else. Does anyone know of any better credit cards for cash back?

The best one is Chase Cash Plus. 5% cash back at grocery stores, gas stations and drug stores and 1% cash back on all other. Here is the link
Look toward bottom of page

It's not the credit cards that give cashback, it's the stores that give cashback. Not all stores do it either.