Denied credit card bonus

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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PlyrStar93
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Postby PlyrStar93 » Thu Jan 15, 2015 1:13 pm

In case anyone doesn't know about Discover crediting small balances:
Image

At the end of a billing period, if your balance is less than $2, then they put a small balance credit of the amount of your balance to make the statement close at $0.

Maybe Discover just doesn't want to bother with reporting a $1 balance to credit bureaus, so they just credit your account when balance is <$2 at the end, make your balance zero, and report.
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Vattené
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Postby Vattené » Thu Jan 15, 2015 4:05 pm

That is awesome! I, too, wonder why they would do this as a matter of policy! Do they let this be known to the general public or is it more like an open secret? I wonder if they would do away with it if too many people catch wind of this.
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AU on Barclay Sallie Mae - $10,000 (8/15)
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Gamma
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Postby Gamma » Fri Jan 16, 2015 6:33 pm

PlyrStar93 wrote:In case anyone doesn't know about Discover crediting small balances:
Image

At the end of a billing period, if your balance is less than $2, then they put a small balance credit of the amount of your balance to make the statement close at $0.

Maybe Discover just doesn't want to bother with reporting a $1 balance to credit bureaus, so they just credit your account when balance is <$2 at the end, make your balance zero, and report.

Totally off topic question, why did you do only a $1.00 bill payment to AT&T? lol


Vattené wrote:That is awesome! I, too, wonder why they would do this as a matter of policy! Do they let this be known to the general public or is it more like an open secret? I wonder if they would do away with it if too many people catch wind of this.

I'm sure they would. Chase was also like Discover giving small balance credit only if the amount was $0.99 or less. They recently changed it to charge for any statement balance now.
Full thread dedicated on this topic on Fatwallet HERE

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PlyrStar93
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Postby PlyrStar93 » Fri Jan 16, 2015 8:59 pm

Gamma wrote:Totally off topic question, why did you do only a $1.00 bill payment to AT&T? lol

Was just trying to see what information would it have when posted for Discover (merchant category, etc.). I mainly used Chase/Amex to pay AT&T bills, not Discover (though the plan has been changed to prepaid now, so no more phone bills; I go to grocery stores and buy prepaid phone reload cards nowadays).

Gamma wrote:I'm sure they would. Chase was also like Discover giving small balance credit only if the amount was $0.99 or less. They recently changed it to charge for any statement balance now.
Full thread dedicated on this topic on Fatwallet HERE

Yeah that's pretty much my concern. Any business seeing exploits will take measures to make up for it.

From what I see, Chase might have stopped mid-cycle credit reporting when you make a payment since this year. Maybe each time reporting to bureaus will cost them money, and they might have seen some people making too many payments each month. However, I will keep monitoring my credit reports and see if there is still off-cycle reporting later.

For the small balance credit, that's just one of the most direct ways to lose money. Pretty self-explanatory. Chase may have been fed up with those one-free-mp3-music-at-Amazon-each-month customers (especially when the Freedom gives 5% at Amazon).
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
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Vattené
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Postby Vattené » Sat Jan 17, 2015 10:55 am

Gamma wrote:I'm sure they would. Chase was also like Discover giving small balance credit only if the amount was $0.99 or less. They recently changed it to charge for any statement balance now.
Full thread dedicated on this topic on Fatwallet HERE


Thanks for that. Well, I guess I might as well try and get a free $1.99 before it's no longer available.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Jan 17, 2015 11:33 am

Do they let you keep the up-to-$2 amount? Or it gets reversed on the next statement?
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PlyrStar93
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Postby PlyrStar93 » Sat Jan 17, 2015 12:02 pm

I did not make them assign the small credit in the most recent statement, and did make them credit small balances in the three consecutive statements before the most recent one. No reverse on any statements.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Feb 11, 2015 3:16 pm

I got a small balance credit on my most recent Discover statement, so it looks like they're still doing this.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

kdm31091
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Postby kdm31091 » Sat Feb 21, 2015 3:52 pm

It's certainly not something I would take advantage of -- why would you avoid paying literally $1.99 and risk catching Discover's eye by doing it repeatedly? Taking advantage of a "feature" like that is not a good thing especially over such a tiny amount of money.

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Feb 21, 2015 7:12 pm

I bought about $75 of stuff early in the statement period, paid it off, and then just made a small transaction near the end of the period. Discover just 'beat me' to paying off the balance. If someone abused this, then maybe Discover would stop giving the credits, but I don't know how likely any serious AA is.

Just for simplicity, I do plan to keep paying in full every 10-14 days, which usually means Discover has a $0 statement balance.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



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