Applied for wrong Cashback Bonus Card?

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Meltdownblitz
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Applied for wrong Cashback Bonus Card?

Postby Meltdownblitz » Fri Jul 22, 2011 12:07 pm

I recently applied for a Discover More and I just recieved it in the mail yesterday, very nice card but I went and called them only to know that they only give 5% cashback the spending categories UP TO $300! I can't believe after researching this for so long that I didn't see this. I realize now I should have went for the Chase Freedom, considering they give 5% UP TO $1,500 per quarter which is more what I would spend.

So my question is, I already put another inquiry on my credit since I got the Discover More card, but I want the Chase Freedom, should I apply for the Chase Freedom now or should I wait since I just got the Discover More? I could still keep the Discover More and max the cap every quarter as well as use the Chase Freedom one as well, so I guess it wasn't a mistake, but I would just love more cash back more then $15 a quarter with the Discover More, cap is too low. Thanks in advance.


LTomBerry
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Postby LTomBerry » Fri Jul 22, 2011 12:29 pm

Your plan sounds good to me; use the Discover til you max out the rewards, then go for the Chase Freedom. Also keep in mind they might be different categories - one quarter might be gas stations for Discover and Restaurants for Chase. FYI the cap on the Discover rewards spending isn't always $300, it varies each quarter. At any rate the Discover is still a good card to have in your wallet. The rewards earnings and redemptions program is one of the better ones I've seen. The online mall is awesome - it gives me 5% back at Best Buy where my USAA MC only gives me 2%. So I use the link to order stuff on BestBuy.com and select in-store pickup, then drive over there and get it the same day. There are also plenty of ways to redeem rewards - cash into your bank account, statement credit, or you can get gift cards for below face value. So yeah, if you don't mind the inquiry hit then pick up both cards and maximize your rewards. Nothing like getting paid to spend money you were going to spend anyway!

Money card
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Postby Money card » Sat Jul 23, 2011 10:23 pm

What I would say is try your Discover card for 1 year if you don't like the caps on your Discover then go ahead and apply for the Freedom.
What I would do if I were you try out both your American express zync and your Discover for a year , during the months ahead your not happy with either card next summer you can cancel both cards and apply for Blue cash and chase freedom, but please give the cards
a year.

Meltdownblitz
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Postby Meltdownblitz » Sat Jul 23, 2011 10:25 pm

Money card wrote:What I would say is try your Discover card for 1 year if you don't like the caps on your Discover then go ahead and apply for the Freedom.
What I would do if I were you try out both your American express zync and your Discover for a year , during the months ahead your not happy with either card next summer you can cancel both cards and apply for Blue cash and chase freedom, but please give the cards
a year.


Yeah, good idea. I honestly love both. I just want another card with higher caps in the 5% categories. I might go after another in 6 months or so, that should be a decent amount of time so I can maximize my rewards more.

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Postby Money card » Sat Jul 23, 2011 10:58 pm

you also have to rember 1 thing the visa is accepted in more places than our Discover card is. I know a lot of those places is for rich people but visa is still accepted in more places.
For example theres a restaurant about 12 minutes away from me theres still a light dress code , no tshirts, shorts, sneakers , jeans of any color, granted you don't have to wear a suite and tie anymore but this is basicly in the suburbs that has a light dress code
it's called the Saddle river inn and they don't take Discover but they take visa.

theres a french clothing store that sells expensive very expensive clothes called Hermes , it's down at River side square mall in Hackensack , there are no stores in this mall I can afford except the after christmas sale, I went to Brooks brothers, after that my mom wanted to look at Hermes the name of the store I asked the sales person what credit cards do you take she said everything except Discover, polos went for 350.00 kind of expensive wouldn't you say? a few restaurants Hooters doesn't take Discover
you look at visa being more popular, that might be the difference in the caps, don't forget some categorys will be more than
300.00 so don't fret. for where we live I too think the cap is small on our Discover card. since you just got the card 300 might take you to
september 30th. I signed up on June 30th I already spent about 150.00 First I went to exxonMobil, then quick check then today I went
citgo.
so what are you mainly using your Discover card 5% back rotating category for theme parks, hotels, movies or gas stations?

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Postby Money card » Sat Jul 23, 2011 11:02 pm

forgot to metion 1 store Bergdorf goodman doesn't take Discover. good luck with your zync and your Discover.

Meltdownblitz
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Postby Meltdownblitz » Sat Jul 23, 2011 11:06 pm

Yeah I do agree for sure, visa is way more widely accepted but I feel like discover is more prestige, that's why it's good to have both. You live in riverside,CA? I never heard of tht place that you need to have a dresscode. I used my discover for all those categories this month. I actually just went on vacation for a few days to CA today so I pretty much already maxed out my cap for this month, in 1 day. Lol. Used my discover for hotel, theme park, and gas, didn't even get a chance to use it for movies. Already maxed the cap. So I'm thinking a chase freedom might be good for me, that higher cap can really help me out. I always carry a visa and cash incase places don't accept discover or Amex.

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Postby Money card » Sat Jul 23, 2011 11:44 pm

I live in Suffern New York, about 30 minutes away from me is a mall called Riverside square. The department stores are saks 5th avenue and Bloomingdales. hermes is in that mall they don't take discover.

once you go over 300 you only get 1% back. so for example, let's say you go to a hotel and you spend $200, theme parks $25, movies $11, $11.00 for snacks and soda, plus 2 trips to the gas station at $100. you would get 1% back instead of 5%.

but let's say you spend 200 at a hotel 75 on gas. but at champs you buy clothes, you go out to Fridays and a combination equaling 70.00, you still get your 5% back. it's whats in the category.

Meltdownblitz
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Postby Meltdownblitz » Sun Jul 24, 2011 8:24 pm

Ah I see. But I bet Hermes takes Amex since it's a high end fashion store.

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Postby Money card » Sun Jul 24, 2011 9:50 pm

you are 100% correct hermes takes your zync but not our Discover.



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