Discover’s Limited-Time-Only $150 Cash Back Bonus Offer

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*This offer has expired, but not to worry! Discover has a new promotion going on that will earn you a $200 cashback bonus*

Discover always seems to  have certain deals or offers going on that are exclusive to existing members or that can only be redeemed by applying through specific links, such as this offer that explains its “only valid for new applicants that use this link offer.”

If you are a current Discover Card member, be alert for an email or letter that includes an offer for a special $150 cash back bonus between now and the end of the year. Discover is extending this interesting and potentially valuable promotion to many of its customers. By taking advantage of it you may be able to pocket an extra $150 that will come in handy for year-end expenses like holiday purchases.

In order to qualify for the $150 bonus, cardholders must:

  • Spend at least $1,000 a month between August and the end of December, 2014.
  • Sign up for the bonus program by July 31st so that Discover can start tracking your purchase amounts to qualify you for your bonus. Easy as that!
  • After you have met the criteria you’ll be credited with $150, which averages out to $30 per month over the five month period.

Even if the Discover it® sign up bonus deadline was not stipulated it would still be a good idea, because the sooner you register the sooner you are able to start getting credit for all the eligible transactions you rack-up in August toward the $1,000 benchmark. Especially for those cardholders who normally spend around $1,000 or more per month, this is really easy money that amounts to almost a free dollar per day for five months.

Discover's $150 Promotion

Breaking Down the Value

At $1,000 a month it will eventually add up to $5,000 in total credit card transactions. Maybe you aren’t such a big spender, though, so you only want to spend the bare minimum to be eligible for your bonus. Doing a little quick math allows you to hone in on the real value that is being offered to you.

In this case a $150 reward for spending exactly $5,000 (the bare minimum to qualify) equals a bonus of 3% or three cents on every dollar spent during the 5-month period. Three percent is a great cash back rate, even when compared to some of the most generous rewards programs in the industry.

Making this offer even more attractive is the fact that you probably already earn 1% back on every purchase as a Discover rewards card member. But to ramp it up even more, you should be sure to sign up every three months for Discover’s quarterly purchase category bonuses. Right now, for example, you can earn 5% cash back on gas station purchases, through September of 2014.

Plus if you use the Discover online shopping portal you will find that many retail purchases from Discover’s merchant partners also delivery 5% cash back. In this way, you can tally up your normal cash back earnings and then add in the value of the $150 offer to see the bottom line you’ll earn by spending that $5,000 between now and New Year’s.

Boosting Your Purchase Totals

The most direct way to raise your spending levels is to reach for your Discover Card instead of your other plastic during the bonus offer 5-month time frame.  You can also try to find creative ways to add expenses normally paid by check, cash, or ATM card to your Discover Card.

Those might include your cell phone bill, gym membership, daily coffee drinks at Starbucks, or miscellaneous items like your Netflix subscription, parking garage fees, or doctor visits.

Don’t Financially Overextend Yourself 

There are many consumers, however, who are not accustomed to spending that much each month with their Discover Card. For them it is a good idea to take a closer look at the offer, since they have to keep up that spending volume for five consecutive months. You don’t want to overextend yourself and spend beyond your means in hopes of snagging $150. That could result in more financial stress than it’s worth.

If you think that could be a possibility, don’t chase after the offer by going on a shopping binge. Just stick to your regular spending patterns. Should you hit the $1,000 mark, that’s great, but if you happen to fall a little short then don’t despair. It didn’t cost you a dime to sign up for the chance to earn the bonus.


*Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.

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