The Account
Discover offers a cash back checking account, they’ll basically give you 10¢ (up to 100/$10 per month) when you do any of the following:
At the moment they are actually doubling the amount of cash back you’ll receive (20¢ per transaction up to $20 per month). If you don’t already have an account, there is also a $50 sign up bonus. Fellow blogger WallersWallet let me know about a tip on Twitter that makes this account even more valuable.
The Tip
You can have the rewards redeemed into your Discover Credit Card Cash Back Bonus Account. Basically this just means it’ll go into your unredeemed rewards on your credit card. Normally this wouldn’t be that interesting, but Discover is a bit different.
It’s actually possible to redeem this cash back for items other than cash back, for example you can purchase gift cards at a 10% discount (e.g $50 gift card will cost $45 in un redeemed cash back). You can also redeem for car rental certificates and get a massive 50% discount.
Final Thoughts
This isn’t anything groundbreaking, but when paired with the current double bonus you could get up to 40¢ per qualified transaction with Discover – which is a nice benefit for transactions you’d normally be making anyway. What are your thoughts on the Discover cash back checking account? Do you have one? Do these recent promotions make you more likely to sign up? Let us know in the comments below.
