New to Discover

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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cltphotog
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New to Discover

Postby cltphotog » Mon Apr 17, 2017 11:11 pm

I'm new to the forum and to Discover seeking advise. I've had limited experience with rewards cards mostly Amex Hilton and recently Capital One QuickSilver. I got a mailer invitation to apply for a Discover it card which I had always felt was a premier card and was just approved for $10,500 which blew me away at such a high CL but after doing some reading I understand they do offer high limits. My question is what's the best way to utilize their cash back system and any other advise on working my way around their card would be appreciated.


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CarefulBuilder14
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Re: New to Discover

Postby CarefulBuilder14 » Tue Apr 18, 2017 1:09 pm

cltphotog wrote:I'm new to the forum and to Discover seeking advise. I've had limited experience with rewards cards mostly Amex Hilton and recently Capital One QuickSilver. I got a mailer invitation to apply for a Discover it card which I had always felt was a premier card and was just approved for $10,500 which blew me away at such a high CL but after doing some reading I understand they do offer high limits. My question is what's the best way to utilize their cash back system and any other advise on working my way around their card would be appreciated.

Are you asking what the best way to redeem the cash back rewards is?

Statement credits are easy. Sometimes I'll get gift cards for restaurants or clothing stores.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

cltphotog
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Re: New to Discover

Postby cltphotog » Tue Apr 18, 2017 8:30 pm

Which transactions are more profitable for cash back 2% vs 5% and is cash back paid once the balance on the Discover card is paid in full?

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Vattené
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Re: New to Discover

Postby Vattené » Thu May 04, 2017 4:21 pm

Cash back is paid all at once for a given billing cycle once that statements posts; you don't have to pay it in full first.

You say you got approved for the Discover it, so I assume you're currently in that rewards structure (earning 1% on everything or 5% in category spending). By 2%, are you referring to what they now call their "Gas & Restaurant Credit Card" (used to just be Chrome, although they still call the student version that)? The actual returns are pretty straightforward, so it just depends on your particular spending. Last I tried it, you could switch the rewards on your card from the standard it structure to Chrome back and forth very easily (the switch just has to take place at statement cutoff). So if you don't spend much at home improvement stores and wholesale clubs but you do eat out frequently, you could switch to the Chrome version for the rest of this quarter and switch back to get the full 5% next quarter at restaurants.
-Vattené
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

cltphotog
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Re: New to Discover

Postby cltphotog » Sun May 07, 2017 5:17 pm

Sorry the 2% was not correct I have 1% and the 5% on quarterly promotions.



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