Author Topic: Discover It Credit Card (and CC hacking)  (Read 2025 times)

nexus

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Discover It Credit Card (and CC hacking)
« on: October 13, 2017, 12:26:16 PM »
I've been a customer since 2011, but haven't used my card in years. They sent me a new card, the Discover It card. I started reading through the benefits this morning and it says at the end of one year, they'll MATCH all the cash back I've earned throughout the year.

Discover's cashback program has 5% cash back on rotating categories. Each quarter they offer different 5% bonuses. Summer months might be hotels and theme parks, other months gas, groceries, movie tickets, etc. For all other purchases it is 1% cash back.

Is this a good deal? Let's say I put $10,000 in charges on my card and earned 1% back for a total of a $100 back. They'd give me another $100 at the end of the year. Doesn't seem worth it when I already have cards that provide 1.5-2% back or more. Now that I'm writing this out, unless my normal spending miraculously fell in line with the 5% cashback, it really wouldn't be worth it.

Thoughts? At this point I don't see the need to activate this thing.
Feel free to comment on your own CC hacking trials and tribulations. Below are some of mine from the last 12-18 months.

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Also, for those of you curious about the AMEX Hilton HHonors card, the 50k points bonus is worth $100 cash and the subsequent 25K bonus points are worth $50. So you can earn/travel hack $150 by spending $1k in the first 3 months and another $1k in the first six months of opening, I believe.

I also scored the $200 bonus from the Wells Fargo Cash Wise card. It takes a while to show up though. This card requires spending $1k in 3 months. I spent $1k in one month, then had to wait approx. 2 more months before having the bonus applied. I ended up having to email/call, but they were super helpful and responsive.

The best one so far has been the Chase Sapphire Preferred. Spending $k in 3 months yielded a nice $500 bonus (or $625 for travel using their portal) on top of the other cash back I had been earning. In well under 6 months I earned nearly $800 in cash back from regular spending. This card has a $95 annual fee that's waived the first year. Speaking of that, I need to call and downgrade or cancel mine to avoid paying the fee. I'll post an update once I call and either cancel or downgrade. The card is also metal, which makes it heavier and is pretty sweet looking/feeling. It doubles as a ninja star.

boarder42

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Re: Discover It Credit Card (and CC hacking)
« Reply #1 on: October 13, 2017, 01:12:26 PM »
its just a whats the best cash back equation i ended up with at 650 dollar year end bonus on that card.  the IT card also has price match so i was able to pick up a 65in TV last year for 80 bucks delivered and setup.  the best use for that discover card is to get the limit increased and start selling tradelines on it ... you'll make way more money than you make travel hacking.

nexus

  • Bristles
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  • Age: 29
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Re: Discover It Credit Card (and CC hacking)
« Reply #2 on: October 13, 2017, 05:28:25 PM »
Excellent advice!

Follow up questions -- I think my credit limit is around $3.7k. How much should it be?

And as a refresher: Is Tradelines the 'thing/company/idea of' where I add someone to my card in order to help their credit score & I get paid for it?

Thanks!

boarder42

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Re: Discover It Credit Card (and CC hacking)
« Reply #3 on: October 13, 2017, 08:51:37 PM »
Yes that's what it is. And you need to start asking for increases today discover is slow to raise and to get adds frequently you need a limit over 15 minimum but it's now more around 20