I remain a steadfast fan of Discover credit cards. The ShopDiscover.com shopping mall has some very high payouts and I have rarely had problems with the cash posting, and when I have had problems I’ve been able to get through to a sensible human being who was able to fix them. The quarterly rotating 5% categories give you a little boost and then they run the odd promo that can make spending interesting.
I got one such promo sent just before Christmas and it looks like there are a couple of flavors of this floating around. The promo I got was an additional $300 in cash back if I spend $2,000 on the card each month from January through August 2014. There appears to be another version of $150 after spending $1k from January to May. To see if you eligible check this link:
To analyze these offers, just look at the minimum you have to spend over the promo period and how much you will earn back in total:
For $300 after 8 months: Total spend $16,000, total cash back $160 regular 1% + additional $300, total yield of 2.875%
For $150 after 4 months: Total spend $4,000, total cash back $40 regular 1% + additional $150, total yield of 4.75%
Update: Reader CTravlr Tweeted the following offer he received:
For $250 after 5 months, $1.5k per month: Total spend $7,500, total cash back $75 regular + additional $250, total yield of 3.67%
While $150 looks less than $300, that offer is clearly the superior offer. However they are both decent offers and would be particularly well suited to MS via Amazon Payments. It’s hard to find anything that earns over 1% on Amazon Payments unless you are using it towards a sign up min spend requirement. Personally I will make use of this offer to get the $460 cash back on my card, which can be leveraged further by redeeming for gift cards which are offered at a discount through Discover.com redemptions.
Check to see if you qualify for a decent offer!
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