Discover cashback calculation question:

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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jumbo
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Discover cashback calculation question:

Postby jumbo » Sat Oct 26, 2013 2:50 am

I have discover more since 2011.
My this months statement balance is $1,464.64
But my cash back is $ 9.38
5% Cashback Bonus = $ 6.02
Everywhere Else = $ 3.36


How is this possible? Even with just 1% cash back I will get more than this. My spending on Discover card is around 10K from the start of Jan 2013.
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card


cashback
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Postby cashback » Sat Oct 26, 2013 8:49 am

Where were the majority of your purchases at? And did you by chance make the majority of the charges within 2 or 3 days of the statement date?
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

DavidNY
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Postby DavidNY » Sat Oct 26, 2013 11:11 am

DFS delays cashback for purchases within the last days of a billing cycle.

flan
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Postby flan » Sat Oct 26, 2013 11:43 am

jumbo wrote:I have discover more since 2011.
My this months statement balance is $1,464.64
But my cash back is $ 9.38
5% Cashback Bonus = $ 6.02
Everywhere Else = $ 3.36


How is this possible? Even with just 1% cash back I will get more than this. My spending on Discover card is around 10K from the start of Jan 2013.


The anniversary period for calculating if you've spent enough to reach 1% cash back, and not just 0.25% cash back, is from the date of account issue, not the start of the year. Also, some categories of purchases aren't ever eligible of 1% cash back. If you're bothered by this, change to the IT card. (It probably took you longer to type the post than it does to make the switch.)

whit
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Postby whit » Sat Oct 26, 2013 12:49 pm

i'm always confused by them until i go to a computer b/c they don't break down on the app, on the computer its slightly better

switch to IT, i've been a member since april, i try to put a lot on it but..only when merchants accept it. steve alan wouldn't so onto mc it goes.

i don't know if the 5% for online purchases is accurate though, I wish they would break down it a bit further to tell you how they get the $$ they give back.

Cashback Bonus Balance
$50.20
Newly Earned
$7.29

thats on my initial page--it's pretty accurate as I've made payments of about that much.

I go clicking a few times till I get further details and it says I earned .45 cents with online shopping last month..whether its last or this month its untrue since all of my purchases online were over $100 easily.

I don't know if it makes a difference I tend to pay my card a few times a month to keep utilization down, and have alert for whenever its over 500 for that purpose.

tigerowl06
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Postby tigerowl06 » Sun Oct 27, 2013 2:47 am

I just did the math and $6.02/5% = $120.40 in 5% purchases. $1,464.64 - $120.40 = $1344.24 everywhere else. $1344.24*0.25% = $3.3606. So yeah, you are getting the 0.25% rate. Switch to IT.
Chase Freedom ($2.5K, 10/2009)
Discover it ($6K; 03/2011)
Amex BCE ($19.5K; 02/2013 - 2011 BD)

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jumbo
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Postby jumbo » Mon Oct 28, 2013 12:02 am

tigerowl06 wrote:I just did the math and $6.02/5% = $120.40 in 5% purchases. $1,464.64 - $120.40 = $1344.24 everywhere else. $1344.24*0.25% = $3.3606. So yeah, you are getting the 0.25% rate. Switch to IT.


Great work... I did some looking and turns out September was my anniversary month and I have to spend 3000 before I get 1%.
I am switching to IT now.
Thanks all for the information.
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card



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