0. Deal update (3.2 renew)
- AMAZON Prime user +Discover user can pay with Points gets 15off (see Chapter 2.2)
1. Discover Cashback introduction
Write an article to Discover Cashback introduced usage, because most people with this card should be, and Discover Cashback source particularly rich not paying attention can save a lot of money.Make good use of it, it is possible to use a face value higher than the value.
1.1 sources of Cashback
Main sources are Discover IT series of credit cards:
- Discover IT credit card rewards (opening arbitrary spending a fortune to send $50, one year after the double $50)
- Discover credit card IT good student award (GPA>3.0 per year, you can get $20/year, for five years)
- Discover IT by credit card consumption (quarterly cash back categories 5%, 1% other consumer cash back)
- Discover Deal cash back network (the Merchant 5%-15% cash back)
- Refer a Friend Discover IT credit card (per person $50, and successfully recommended a maximum 10 persons)
- Discover the double cash back (new card the first year all returned to double)
1.2 Cashback features
- Will not expire cannot convert between cards
- Billing months gets back to next billing now appear
- Bills a few days before the deadline to get the cash back will appear on the next statement
- Return to new card now 13th double bill get
- Card after it has been closed, return will be sent back to you by cheque
2. Use of Cashback
Want to redeem Cashback when click rewards-redeem cashback on the line in the account interface
Here we list some of the more common methods, donation is not introduced.In Exchange, if $1 return $1 are able to Exchange something of value, use (1) says that if what you can exchange $1.2, (1.2).So, of course, is: bigger is better
- Cash (1)
- Use directly on the Amazon (0.99)
- Various merchant gift card Exchange (1.07-2)
2.1 cash (1)
Believe this should be the most commonly used method, you can exchange for statement credit, lost directly in the Bill, or to Exchange into bank account (ACH)
The advantage of this method is:
- Can be exchanged at any time, there is no minimum amount requirements.
2.2 Amazon consumption (0.99)
Discover cash back can be directly used on Amazon, but I usually don't because the exchange value of 0.99 less than cash value.
Is the exchange value of 0.99 for the simple reason, $1 Discover Cashback=$1 Amazon consumption.If you do not Exchange directly on the Amazon, but directly by Discover credit card shopping on Amazon, to get cash back for at least 1% and change in Cashback for statement credit to offset your expenses.That in fact when your return is only the value of 0.99.So, generally speaking, there is no need to directly use cashback on Amazon consumption.Direct conversion cash on the line.
It seems that this method is not worth discussing, even lower than the direct exchange of cash due to the currency exchange value, but there are exceptions.Discover and Amazon launched a number of activities from time, consumed in discover cashback on Amazon, you can get the $10-$15off
- When there is such activity, need only to Exchange $0.01 cashback, use promo code, and then the rest of the pay with a Discover credit card or Amazon gift cards can.
So when we exchange, best left a little bit of Cashback, so this type of activities you can get involved.
"The 3.2 update Active" If you Paid Amazon Prime user (non-trial users), you can get 15 off, follow these steps:
- Follow the above steps to enroll Discover pay with points
- Add something sold and shipped by Amazon.com to your shopping cart
- Select the Discover, select use cashback payment (-0.01 is enough)
- Use Promo Code DISC16EVER, you will see 15off
- The official explanation for this deal: official page
2.3 Exchange merchant gift card (1.07-2)
To Exchange higher value of merchant gift cards are the main reasons I like to Discover Cashback, is also the most easy to change out the high value.
Discover Cashback can exchange a very wide range of businesses, merchant gift cards usually have several grades:
- $20 s $40 (2): car rental voucher, cruise tickets
- $20 s $25 (1.25): includes Staples,Overstock, a clothes shop
- $45 s $50 (1.11): includes most of the business, such as department stores, beauty products, food shop
- $70 s $75 (1.07): oil card, whole foods
In General, most of the businesses are in 1.11, a document, most of which is used to discover cashback to buy 90 percent of gift cards.Relative to the secondary gift card Web site to buy discounted gift cards, discover because it is direct and business cooperation, security is high.Some gift cards and electronic gift cards, so you need to redeem cashback when shopping is the best.
Need to be aware of is, exchange the highest value car rental cruise liner coupons often have restrictions on using count, it is best to exchange the highest denomination (for example, $60 s $120), before the exchange best and merchants confirm can I use some of these coupons at once, and then exchanged.Car rental voucher after using, it is possible to credit card's rental car insurance will be invalid, of course, you're buying the rental company's insurance, you don't have to worry about this problem.
"2016.2.3" redeem gift cards now also has a special promotion, special events, exchange value will rise.We can note attention
If you have shopping needs in these businesses, it is recommended that you exchange business gift cards, buy is good after all, 80 percent to 90 percent.Save up if you want to exchange large car rental cruise voucher, of the best businesses and be sure to use coupon terms and conditions.If you don't need to shop directly for cash on the line, of course, are best left a little bit of cash back activities participating in the Amazon may be better.
3. Discover the value of the Cashback
From the above analysis, Discover cash back average exchange value is around 1.1, or
- $1 cash back with =$1.1 's exchange value (normal user)
Discover new users to get double cash back for a year.For example, 12 months before you get a total $100 cash back, now the 13th Bill will give you the cash back bonus $100.Therefore, to Discover new users, the return value is:
- Of exchange for cash back with =2*1.1=$2.2 value of $1 (new user)
We will calculate the exchange value that could help us discover for analysis when the checks, when the discover deal to get cash back.First quarter of 2016, for example, use the Discover IT credit card and Chase Freedom come respectively get 5% back and 5x rebates.If the Chase points in accordance with the exchange value of 1.6, discover cash back in accordance with 2.2 of the values which we have considered, we should choose a Discover credit card for gas (5*2.2>5*1.6).Similarly, when you choose to use cash back network, you can discover cash back percentage times 2.2 compared with other cash back network.
Of course, all these values are based on two points:
- You have Exchange merchant gift card requirements
- You can get double cash back
If you are a returning user, and not the activities of double cash back and then multiplied by 1.1.
On the discover credit cards as well as cash back network, you can view the following articles:
- Discover credit cards IT (opening arbitrary spending a fortune to send $50, one year after the double $50, a good student bonus)
- Discover Deal Guide
- Discover the double cash back
- Free credit score which is strong (combined or Discover the best)