Existing cardholder, got $500 incentive in mail to spend more

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
5 posts
sparkygoblue
Green Member
Green Member
 
Posts: 3
Joined: Tue Dec 11, 2012 2:57 pm
Location: United States

Existing cardholder, got $500 incentive in mail to spend more

Postby sparkygoblue » Thu Jan 10, 2013 10:08 pm

I got this deal in the mail today. If you spend $2000 per month on your card for seven straight months (Feb. thru Aug.), you get an extra $500 dollars on top of the normal cashback you receive. Seems like a pretty good deal. Anyone else get this offer?


cashback
Centurion Member
Centurion Member
 
Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Fri Jan 11, 2013 12:32 am

for what card? Seems too good to be true if it's one of the major 5% back cards. That's 3.5% on top of regular cash back.
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

User avatar
bisbicos
Centurion Member
Centurion Member
 
Posts: 284
Joined: Sun Jul 17, 2011 12:38 am
Location: Newton, MA

Postby bisbicos » Fri Jan 11, 2013 12:42 am

I got that offer as well. Its from discover
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

Future Cards
US Bank Cash +
Chase Ink

cashback
Centurion Member
Centurion Member
 
Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Fri Jan 11, 2013 1:01 am

That's a good offer from them. Let's do some math. 7 months over 3 quarters gives you $4500 max 5% spending. Assuming you max that out, the rest ($9500) would be at 1%.

4500 x 0.05 = 225
9500 x 0.01 = 95

So that's $320 on $14000 spending which is 2.3%. Add the $500 and you have $820 cash back on $14000 spending which is 5.9%. Not bad Discover... not bad.

This is assuming you spend exactly $2000 each month and can max out all 3 quarters rewards spending. If you can, you've got yourself a 5.9% cash back card. Congrats to whoever gets the offer.
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

sparkygoblue
Green Member
Green Member
 
Posts: 3
Joined: Tue Dec 11, 2012 2:57 pm
Location: United States

Postby sparkygoblue » Fri Jan 11, 2013 12:54 pm

cashback wrote:for what card? Seems too good to be true if it's one of the major 5% back cards. That's 3.5% on top of regular cash back.


Sorry, my original title mentioned Discover Card in it, but it was edited before the post went live.

I thought this was a pretty damn good deal, but looking at our spending, I don't think my wife and I will always spend $2000 on our cards each month. Some months we spend way over $2000, some months it's only around $1500. Since you have to have seven straight months of $2000 or more, we decided not to take Discover up on the offer, but for the right person this would be a nice bonus.



Return to “Rewards”

Who is online

Users browsing this forum: No registered users and 3 guests