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So my wife just got this e-mail for her Discover Card:
Discover said: Dear XXXXXX,

Simply switch your spending to Discover for an opportunity to earn an extra $200 CashBack Bonus. Don't change your spending, just change your card.

The extra $200 CashBack Bonus is on top of the CashBack Bonus you already earn with every purchase. It's as easy as 1, 2, 3.

1 Sign up by September 30, 2013
2 Spend at least $1,500 each calendar month from 10/1/13 to 4/30/14
3 $200 CashBack bonus is yours!


So basically they want $1500 on the card for 7 months straight.  That's a $10,500 spend for $200 in Cash Back.

Even when you factor out the FWF mentality of what my costs (or lost opportunity costs) are for generating the spend, this is simply a bad deal, no?

I'd like to call them up and say "I won't just change my spending habits, I'll change my card...to XXXX which is giving me 2x what you are for 1/4 the spend!"

Just pissed because I know these targeted offers have been going around for a while...I thought I heard people getting this with like $1K a month for only 3 months...so this is bottom of the barrel.

/rant

Member Summary
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BTW, We were also targeted for $250 CB bonus on another HH Card during the same period. So all in all, I got $750 plus r... (more)

JuNooNi (Sep. 05, 2013 @ 6:08p) |

Discover's Money Messenger service is being discontinued on October 10th. See:

https://www.discover.com/credit-cards/send... (more)

CreditGuy (Sep. 05, 2013 @ 7:18p) |

Already covered on FWF

sandy05 (Sep. 05, 2013 @ 8:00p) |


I got similar one last year and didn't sign up as I am sure wouldn't be able to spend $1500/months just on Discover card. I got $1000/month for 5 months and get $150 offer recently....

I got a similar offer as atsdump.

Spend $1000/month from 9/1/13 to 1/30/14 and get $150 back.

3% CB.

I will probably just use AMZN pymnts to pay my rent.

Well, it's certainly not as good as some other promos.  I'm currently doing the "get $150 for spending $1,000/mo for five months," which clocks out a bit better. 

But your offer isn't bad.  Remember, the $200 is on top of regular CashBack.  So even if you hadn't made any other non-bonus spending on your card since your anniversary and used the card only for non-bonus purchases during the promo period, this would work out to 2.7% CashBack on everything ($7.50 on the first $3k, $75 on the next $7.5k, plus the $200 bonus = $282.50 / $10,500 = 2.7%), which really isn't too shabby.  If you already have some non-bonus spending on your card (like, in my case, ShopDiscover purchases), that'll push you ahead to the 1% level a bit sooner, goosing your returns a little more.  If you make bonus purchases (quarterly 5%, special holiday promos, etc.) during the promo period, you'll drop your regular CashBack a little, but make those purchases work harder, because in addition to the bonus CashBack, you'll be reaching your $1,500 per month with fewer .25-1% purchases.  And if you have reason to use ShopDiscover, those purchases will work triply; they'll get you to your $1,500 per month quicker, give you the ShopDiscover bonus, and get you to the 1% level sooner.  Use ShopDiscover to shop online Q4, and you'll get 5% on those purchases, plus the ShopDiscover bonus, and reach $1,500 per month faster.   And once the promo period is over, until your anniversary you'll be getting 1% on any non-bonus spending (again, think ShopDiscover purchases).

Like I said, I prefer the offer they gave me: $150 for $1k for five months.  That works out to 3.55%, and $1k per month is much easier for me to hit than $1.5k.  Still, 2.7% isn't too shabby. 

Chris.

Its not that bad -- its $200 bonus on top of your regular Cash Back so $200/$10500 = ~1.9% extra Cash Back

1% purchases -> 2.9%
5% purchases -> 6.9%

ShopDiscover gives good Cash Back for online purchases and as always your Cash Back is worth more than face value since they sell discounted GCs (for example $25 Staples GC is $20 in rewards)

It sounded good when I got it, but trying to spend that much at Discover-accepting places would be really tough (Visa or MC is at least more accepted in the US). In another time you could simply have ordered $1 coins from the mint.

ChefJoe said:   It sounded good when I got it, but trying to spend that much at Discover-accepting places would be really tough (Visa or MC is at least more accepted in the US). In another time you could simply have ordered $1 coins from the mint.
  

Its not that bad.  1k/month in AZPAY, and then you really only have to spend another 500/month.  Couple that with the upcoming 5% bonus on online shoping from oct-dec, spend 500/month on those, and you are halfway done almost.

Discover should just go away.  What a worthless card.  And to think, they originally pioneered Cash Back!

I've had great experiences with Discover, and now with the IT version, you don't need to wait until $3000 of spending to get the full Cash Back. Their ShopDiscover program is great and they always fix any issues with Cash Back with a simple email, such as when a restaurant is signed up as a hotel merchant. They've also added a lot of fringe benefits, including baggage delay insurance, purchase protection, etc. I just wish it earned 2%, but that's what Fidelity Amex is for. Last year the 5% online bonus even worked for insurance payments, etc.  I've also used it for foreign transactions with no fee--it is accepted wherever Diners Club, UnionPay, or JCB (in Japan) is accepted. 

Thinking from another angle... they may be the only ones smoking anything worthwhile. How can people truly make money on FW'ers signing up to get $500 back after $3k spend, who then don't use the card? Discover is wise to not take those customers.

I got the same offer, only for 2 less months ...

I am doing the same offer but mine is for 250 and I have not yet done my 1500 in gas station purchases in the quarter so will do this month. I should get over 8% Cash Back if I redeem discounted gift cards (lands end/Staples) and max out 1st quarter 2014 offer in Jan.

I got a really high spend offer from Discover a few years ago and did not use it and 1 year later I got a lower spend offer I did take advantage of. I think I got the offer because I moved most of my spending to other cards.

If you are not into manufactured spend - then there are plenty of other CC offers that will give you the same CB/equivalent points or more for a fraction of this spend.

Spending the same amount on other spend cards (say 5% BC) I can profit over $400... more in points depending on how you value your points.

This might attract a consumer with another card who isn't into points/CB to just say "hey what the hell, I'll put it on the CC", but I can't see it as a legitimate offer to woo anyone else.

Also, $1500 is an awful lot of monthly spend to sustain 7 months in a row for normal people.

What goes on my CC bill? Grocery, dining, gas, pharmacy, etc? I have a wife and kid, make 6 figures, but I would be hard pressed to putting $1500 on my CC bill a month unless there were some bigger entertainment expenditures or larger home purchases... My bill is closer to $1000 a month.

Of course I spend a lot more on mortgage, utilities, other things that can't be paid with a CC...

When computing the CashBack percentage don't forget to allow for some overcharging on top of the required $1.5K/mo. It's really difficult to stop at exactly that amount each month. And if you undercharge in a month, all your spending up to that point will have been "wasted". So I'd assume probably $1.8K/mo...

I've read in past from some forum members that these offers are targeted to discover cardholders who "sock drawer" their cards for a while. Have any of you reporting that you've gotten these targeted offers been using your cards regularly over the past several months?

Thanks

willi173a said:   I've read in past from some forum members that these offers are targeted to discover cardholders who "sock drawer" their cards for a while. Have any of you reporting that you've gotten these targeted offers been using your cards regularly over the past several months?

Thanks

  
My wife used her Discover card exclusively until maybe 2-3 years ago.  Now I have here on the FWF system more we only use the Discover card for CB categories.  She had a paltry credit line of like $1500 which I requested an increase about a year ago...got about $2800 and they recently pushed it up to like $4500 without us requesting.

So, in our case, we definitely went from using the card often to rarely ever.

willi173a said:   I've read in past from some forum members that these offers are targeted to discover cardholders who "sock drawer" their cards for a while. Have any of you reporting that you've gotten these targeted offers been using your cards regularly over the past several months?

Thanks
 

 
Received the $150 CB offer for 5 months @ $1000/month spend.

I had put about $30 on the Discover card last month and around $10 on the card this month.

It wasn't sock drawered, though I rarely used it.

When I saw the offer, I wondered if they were monitoring my credit report (e.g. monthly / quarterly) and saw the moderate spending on my other cards. Perhaps their system isn't that advanced, though.

Don't count on getting this. I did a similar offer a year ago and to this date after much discussion no DISCOVER reps. will admit to having seen my account having met the terms.

mikeg1 said:   
willi173a said:   I've read in past from some forum members that these offers are targeted to discover cardholders who "sock drawer" their cards for a while. Have any of you reporting that you've gotten these targeted offers been using your cards regularly over the past several months?

Thanks

 
Received the $150 CB offer for 5 months @ $1000/month spend.

I had put about $30 on the Discover card last month and around $10 on the card this month.

It wasn't sock drawered, though I rarely used it.

When I saw the offer, I wondered if they were monitoring my credit report (e.g. monthly / quarterly) and saw the moderate spending on my other cards. Perhaps their system isn't that advanced, though.

  
I believe you must be correct on this.  Why would they think that our previous spending with a < $1500 limit for years would now want to go ahead and charge at least $1500/month for 7 months?

They obviously have insight into our credit patterns and know I charge thousands upon thousands on other cards monthly (for manufactured spend).

snork615 said:   Don't count on getting this. I did a similar offer a year ago and to this date after much discussion no DISCOVER reps. will admit to having seen my account having met the terms.
  My experience has been different.  This is the third time around for me; on both previous offers I got the CashBack with no issues.  My average spending on the account was about $1,000.32.  BTW, they've now made it easier; they actually have a doodad that shows your spending status for the month and whether you're still eligible for the bonus.

Chris.

Dont feel bad, look what they sent me:
$300 CashBack Bonus.
Spend at least $2,000 each calendar month from 10/1/13 to5/31/14
https://bay167.mail.live.com/Handlers/ImageProxy.mvc?bicild=&can...

I just paid off a 0% balance I've been carrying for 15 months.

I'm holding out for something better.

snork615 said:   Don't count on getting this. I did a similar offer a year ago and to this date after much discussion no DISCOVER reps. will admit to having seen my account having met the terms.
  I did it once on my biz card and no problems. Signed up a few weeks on my personal card and even sent me an email confirming...

Too bad they are stopping MM from 10/10
Otherwise you could have used that in spending limit.

samiam68 said:   Discover should just go away.  What a worthless card.  And to think, they originally pioneered Cash Back!
  Agree, Discover is one of the crappiest card out there.

I had a 2k/mo for 7 months for $500 CB offer late last year. Completed it, mostly using AP. The extra 500 posted before the last statement even closed. 

SSG said:   I had a 2k/mo for 7 months for $500 CB offer late last year. Completed it, mostly using AP. The extra 500 posted before the last statement even closed. 
  How long did it take to post?

nahata22 said:   Too bad they are stopping MM from 10/10
Otherwise you could have used that in spending limit.

  what is MM?

jhapad said:   
samiam68 said:   Discover should just go away.  What a worthless card.  And to think, they originally pioneered Cash Back!
  Agree, Discover is one of the crappiest card out there.

  I'm sorry, I just don't understand what you guys are bitching about.  It's a category card.  Yes, for everyday purchases it sucks, just like any other category card (Chase Freedom, Citi Dividend, USBank Cash+).  You use the category card only for the 5% categories and a 2% card for everything else (barring a special promo on some other card or a startup bonus purchase requirement).  As for online shopping malls, ShopDiscover is near the top of the heap, often giving me 10-20% CashBack, so there's another good reason to use Discover.  In a typical year, using a Discover just for the quarterly categories, a few ShopDiscover purchases, cash-over at WM/Sam's and small purchases to take advantage of the $1.99 small balance credit, it's always in the top couple of cards in my continuing portfolio, giving me 6%+ CashBack overall.  Throw in a special offer like $150 for $1k spend for six months, and it lowers my CashBack percentage, but puts it at the top of my continuing cards for total annual CashBack.  Sure, the rewards pale in comparison to a startup bonus on a new card.  But there's a limit to how many of those I can pursue without devastating my FICO score (my inquiries and low average age already take a great toll).  So once I clear all of the startup bonuses and other special offers out of the way, Discover is a great tool in enhancing my overall CashBack.

Chris.

Just finished $3k/month for  6 months to get $500 Cash Back.  I think I made out ok with the help of MM, AMZ and 5% bonus CB Categories esp gas. I would say the real spending was not more than $10/month. 

JuNooNi said:   Just finished $3k/month for  6 months to get $500 Cash Back.  I think I made out ok with the help of MM, AMZ and 5% bonus CB Categories esp gas. I would say the real spending was not more than $10/month. 
  Hi, can you please explain more? what do you mean when you say the real spending was not more than $10/month? What is MM?
  I got the same offer $3k/month for 6 month, and would like to know how you made it.

Thank you!

Even 6% back on a card that is capable of only a few thousand spend per year is not really a power player. I'd rather a card that I can get 2% on 50k spend than 6% on 5k.

I actively compare discounts at ShopDiscover with those from other CB sites...Discover isn't usually the best.

I use it for the category CB that's all, and half the year the category spending is worthless to me.

Yes, if your FICO is so shot that you can't get a better card, these bonuses are better than nothng, and I guess I will hand it to them as one of the only cards that proactively provides a retention/usage offer...but these spend limits over a 6+ month span are not worth it unless it is your only option.

willi173a said:   I've read in past from some forum members that these offers are targeted to discover cardholders who "sock drawer" their cards for a while. Have any of you reporting that you've gotten these targeted offers been using your cards regularly over the past several months?

Thanks

  I got my first offer ($250 for $1500/5 months).  I've used the card regularly this year, but not every month.  The people denied the bonus might be heavy users of MM "money messenger" feature that allows you to send money for free to another person's PayPal account.  Sending money through Amex Serve is disallowed as 5% online purchase, but you receive your usual percentage, and it also qualifies for the monthly spend.  I'm pretty sure all Amazon and PayPal transactions (except "MM") qualify for the 5%.

I just learned about MM from this thread.  It looked promising...unfortunately it is discontinued as of next month.

BenH said:   Loki.. Can you tell me more about or point me to resources about MoneyMessenger? I haven't heard of this before....and this just may have gotten interesting....

Thx

Almost a moot question since it's going away October 10.   If you have the MM feature on your account, it should be under "Credit Options - Send Money."  Limit $200 a day, $500 a month.

Money Messenger is a service by Discover  through which you can pay anyone using your discover credit card and earn CB on it. Usually it has some monthly/daily limits, Mine was set at $1000/month and $400/day so easy $1000 in spending, $1000 in AMZ payments, around $8 in MS (please don't ask me what it is, I will get killed here) plus current 5% CB bonus category of Gas is what made it alright in the end! 

 

JuNooNi said:   Money Messenger is a service by Discover  through which you can pay anyone using your discover credit card and earn CB on it. Usually it has some monthly/daily limits, Mine was set at $1000/month and $400/day so easy $1000 in spending, $1000 in AMZ payments, around $8 in MS (please don't ask me what it is, I will get killed here) plus current 5% CB bonus category of Gas is what made it alright in the end! 

 

  Damn, now I learn about this.  Well, I'll make the most of it I can.  The card I'm running the $1k/5 months special has MM available at $500/mo $200/day, and I'm already almost at myt $1k spending requirement so I guess I'll go way over on this month's $1k spending requirement.  Next month, it should knock out $500 quickly on my requirement.  My other More account is $500/mo, $200/day, so if I max it out both months, I'll get $2.50.  Yay.  But my It account is max $1000/mo, so I should be able to net $20 CashBack on that.  Not bad for a few clicks.  Again, wish I had been paying attention sooner.  Thanks for educating the slow learners out here.

Chris.

BenH said:   Even 6% back on a card that is capable of only a few thousand spend per year is not really a power player. I'd rather a card that I can get 2% on 50k spend than 6% on 5k.

 

 
I'd rather get 6% on 5K and 2% on the other 45K...

These aren't relative choices. Do $800K on Amex BC, $200K on Fido, $150K on USB, $15K on Discover, etc. per month. You can decide for yourself if $500 (in the case of Discover) is worth 10 minutes a month for 5 months. Personally, I do just about all the churn I can that's over $150/hour. I'll do some lessor value churns during the discovery phase to see if they will scale. If you don't know how to churn, visit FT - they have an entire area dedicated to MS (assume that's what JuNooNi is referencing).

Skipping 7 Messages...
CreditGuy said:   Discover's Money Messenger service is being discontinued on October 10th. See:

https://www.discover.com/credit-cards/send-money/

  Already covered on FWF

 



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