We have discussed about “Double Cash back” promotion from Discover for both existing and new card holders (who apply before July 31,2015) . Per this promotion, you can double all the cashback from regular purchases, 5% cashback qualifying purchases, Shop discover promotion and even the referral bonus.
Bonus cashback will be deposited to your account after the 13th billing statement.
If you are considering getting this card, there are two offers available that gives a signup bonus.
1. Referral offer:
When an existing card holder refers someone and he/she gets approved, both referrer and referee gets $50 bonus after the referee makes a first purchase within 3 months. Under this promotion, you will double the $50 bonus. $50 bonus cashback is only available through referral only.
My Referral Link – You get $50 bonus cashback after first purchase within 3 months and I get $50 bonus cashback.
2. Amazon Gift card offer
You can also get $50 Amazon gift card when you apply through Amazon.com. This is a weak promotion when compared with the referral offer mentioned above. You would want to have cash in your hand rather than gift card.
Maximize your cashback bonus:
Instead of redeeming your cashback for statement credit, you may consider buying third party gift cards from Discover. you could get a minimum of 10% on gift cards.
In the above example, you could get a $100 Hyatt gift card for just $45 cashback (additional $45 cashback earned from Double Cashback promotion)
If you are considering getting a Discover it Credit Card. You may consider applying through a referral link (my link) so you could get $50 bonus cashback after your first purchase within 3 months. I can get an additional $50 bonus cashback.
You could redeem your cashback for third party gift cards through Discover website to maximize your cashback bonus.
Disclaimer: Link mentioned in this post gives us referral bonus.
Editorial Note: Opinions, analysis and any calculations shown are authors alone. Information in this post is not reviewed, approved and endorsed by any airlines, frequent flyer programs or financial institution