DiscoverCard recently sent out a targeted offer for a $300 Cashback Bonus. The offer is:
Use your Discover card. Sign up by 1/31/2014. Spend $2,000 every month, from 02/01/2014 to 09/30/2014, and you’ll get $300 Cashback Bonus from Discover.
It’s simple. Don’t change your spending. Just change your card to Discover.
There may have been other variations but they are in a similar structure where you have to spend a certain minimum amount per month to receive a fixed cashback bonus. Essentially, they are trying to make DiscoverCard your primary credit card in your wallet.
I received this offer earlier this year (scanned above) and it looked look a great offer at first. Initially, I mistakenly thought it was a $300 bonus Cashback for each month with at least a $2000+ spend, but it’s really only $300 Cashback bonus for a total of $16,000+ over 8 months. That only translates to a measly 1.88% bonus Cashback. It’s definitely not as a good deal as I initially thought.
Because I had mistakenly understood the offer, I charged my Discovercard to meet the minimum spend for the first two months but after I realized the misunderstanding, I saw that it was worth the work and then I let the offer go. Unfortunately, DiscoverCard is not my primary credit card so therefore it was conscious work for me to always remember to pay with DiscoverCard. Also, DiscoverCard is not as widely accepted as MasterCard and Visa, which means there are occasions where my DiscoverCard could not be charged. Therefore, there needs to be a bigger incentive for me to actively use the DiscoverCard as my primary card.
Do you think this was a good offer by DiscoverCard? Let me know your thoughts in the comments section below.