Comments on: I got a Discover card recently and it has cashback rewards. Up to 1% everyday and then 5% on certain things?

By: Bob

Bob — Sun, 11 Jan 2009 05:52:59 +0000

You have to watch that "up to" language.
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By: RM

RM — Sun, 11 Jan 2009 05:18:59 +0000

When you use your credit card, the place you buy at has to pay Discover a fee (usually small like 1-3%). This is why some places have a minimum purchase amount when using a credit card, because they end up losing money paying fees.

Don't worry those bloodsuckers get their money

I use discover card too, but only on the 5% categories. They only give 0.25% cashback on your first $1,000 in purchases in a calendar year, 0.5% up to $2,500 and only then do you start earning 1%. It stinks because I don' t use mine enough to hit the 1% until July or August. Read the fine print, you may have the same deal…. I switched to Citi with "thank you rewards" and they give me 5% on everything.
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By: nick

nick — Sun, 11 Jan 2009 05:13:59 +0000

Hey, consumers are always better off if they pay off their bills every month and enjoy the rewards. So take full advantage of this.

If you plan to use your card for home improvements, then you should consider a new card with a good 0% balance transfer deals.
References :
http://www.askmrcreditcard.com/discoverplatinumcard.html

By: Rick B

Rick B — Sun, 11 Jan 2009 04:33:59 +0000

Their merchants pay several percentage points on everything you charge.
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