Update: Discover has provided the following statement:
Our Cashback Match program, which automatically matches all the Cashback Bonus cardmembers earn at the end of their first year, continues to be popular with our cardmembers who are enrolled in it, and a competitive offer for prospects. There are no plans to make changes to the program at this time.
In my experience Discover is usually upfront and honest when asked directly about these sort of changes so while the mistake seems like a weird one to make my inclination is to trust that no changes will be made.
Original post: An astute r/churning member noticed that there is one mention of the Cashback Match on the Discover IT Cashback card being 6 months instead of 1-year. All other mentions there are still stating a full year of double cashback. (And on the Discover IT Miles card it’s still showing 12 months everywhere I can see.)
I checked on Internet Archive, and indeed it was showing 12-months in those same terms as of December 30th. They changed it within the past few weeks. It’s possible that they are in midst of updating this as we speak, or it was something they were looking into, or it’s entirely in error.
In any event, if I were interested in applying for the card, I’d do it quickly while the old terms are still showing.
Dont create story just to create publicity for your website.
He literally didn’t, he pointed out something a r/churning member found. Pointed out that it wasn’t consistent with other language. He reached out to Discover and got a definite answer. Kindly go fuck off.
I’m sure this guy is thePointsGuy fan. Got used to click bait postings which leads to dumb news.
Probably a nicer way to get your point across =)
Yeah probably… just sick of ignorant people trying to trash this site.
Appreciate it =)
We didn’t create a story and we don’t care about publicity. Somebody found the verbiage change, we reported it and then got a clarification from the source. That’s literally what this site does
Sad to see this card getting devalued lately but the Joining bonus match is awesome! its my second biggest bonus after Chase Sapphire Reserve’s 100,000 points joining bonus. I got $851.51 and that was my second credit card ever! The 10% cash back for Apple Pay offer was awesome! which is basically 20% the first year and helped me easily make a lot of money.
https://imgur.com/a/DpJisYs – This email makes me feel happy often.
Aside from the apply pay offer, how hard did you hustle to get that amount? i.e. how much monthly organic spend?
I thought I was doing well in ~$500 CashBack match.
Well I guess Chase Freedom credit card and Nusenda Federal credit union platinum cash rewards credit card, Fort knox federal credit union platinum Visa credit card, and Vantage West Connect rewards Visa signature credit card are the only best 5% credit cards left that I know….
Dont forget the citi dividend and US bank cash+.
It would be pretty cool if a post was made of all the 5% cards we know of.
https://www.doctorofcredit.com/5-cash-back-credit-cards/
Ask and you shall receive. Vantage is not on the list but is only AZ only now. And many are complaining points are not coding properly anyways.
Will Discover IT approve someone for a second card while still holding the first one?
https://www.doctorofcredit.com/how-many-discover-cards-can-you-have/
Thanks, did you get the sign-up bonus on the second card?
Yes you do get it
To me it’s not really all that surprising. While it is annoying to see more benefits reduced, it doesn’t really matter to me as I’m already a cardholder so I’m not getting the match anyway
I’ve already gone through 2 cards for me and 2 cards for my spouse, so I doubt I can even touch Discover for a very long time.
You will be surprised, me and SO are in the 3 discovery miles in 3 years, we have been hitting the 3% very hard for the last 3 years, after a year cancel the card and apply for the next, so far so good.
LOL declined for Discover Miles It card due to “number of inquiries”. Discover IT 5% card member for 2.5 years. Guess I’ll just continue to max quarterly categories and sock drawer.
Was hoping to get the $75 Statement credit offer, and then MS the F out of it at 3% for 12 months. Could’ve used the WiFi $30 next month before it’s gutted too…
Really? I got my second one with 12 inquiries and over a card a month
Discover is notoriously sensitive to “medium” credit scores.
No credit at all? No problem.
Excellent credit? No problem.
Good credit? DENIED.
Seems issuers are nerfing benifets all over the place. Looks like we are at the peak of the economic cycle.
I expect to see more card sign up bonuses as we come out of the next recession.
But that assumes the issuers are proactively managing exposure ahead of the coming down turn which is the opposite of what you would expect if there was going to be a recession (because I recession is usually due to “irrational exuberance”)
I mean they kind of are managing exposure as it is.
All card issuers whether it be capital one, chase, amex, and citi have gotten harder to get approved for. Just check the churning subreddit and in the past year there are more and more DPs of people being denied for a card today when they would’ve gotten one in 2014.
Yes I know plenty of anti-churning rules have been put in place, but that’s a symptom of the cause. Issuers are evaluating their card portfolios and they have discovered the credit card market is currently saturated, and they seek to cut their unprofitable customers like us.
This didn’t really happen in 2014-2015, but really started in 2017. I predict we will see more restrictions added to cards until a recession hits. Then card issuers will be forced to go back to churners to boost their sales figures and get more people to “like” debt again.
This already happened in 2008 when the recession hit. There were plenty of great credit card bonuses. Then during the recession card bonuses were stripped away as issuers didn’t want to extend credit to people. Fast forward to 2011 and there were more much larger card bonuses as issuers became more optimistic about the economy and tried to get people to open up cards again.
I see the same thing happening in the next recession. When we come out of the next recession, churning rules will be loosened and/or removed in an attempt to get more people to sign up. Then we can take advantage of those nice sign up bonuses once again.
The truth is this hobby is very dependent on the economic cycle. If the economy is doing well and we just started our growth phase, we will see more sign up bonuses. If we are getting to the tail end of the economic growth cycle, card issuers will start cutting back benefits. In a recession, card issuers reduce the number of large sign up bonuses in an attempt to hedge risk. Then once we get out of the recession, issuers will offer large bonuses once again to get people to sign up for cards.
For now, it looks like card benefits across all issuers are going to get worse before they get better. then once we get out of a recession, they will start to get better again.
The lucrative Discover Deals portal got axed too a few months back. this card is being neutered. I’ll keep mine for the 5% categories and because it’s no fee, but definitely glad I signed up while the going was good.
The card does have superior customer service and the 5% bonus is nice…but not really competitive anymore with the perks. That’s too bad….I like Discover.