Update 1/2/25: Available again
Update 11/20/24: It’s up to $110 Swagbucks and 18,700 MyPoints now. I’m also seeing a Swagup for an additional 1,000 SB reward on the Discover offer. (Note: Withdrawing funds within the 1st month of account opening will result in SB being revoked.) Hat tip to reader Y
Update 11/10/24: It’s up to $90 Swagbucks and 15,300 MyPoints now. (another update: I’m seeing a Swagup for an additional 1,000 SB reward on the Discover offer).Withdrawing funds within the 1st month of account opening will result in SB being revoked
Update 10/31/24: Deal is back at $80 Swagbucks or 13,600 MyPoints. Slightly less than the high $100/15,000 we’ve seen in the past. (ht Paul)
Update 11/21/23: Available again. It’s 10,000 on Swagbucks ($100) and 15,000 on MyPoints (worth around $95-$100). Hat tip to Gerry. If you do MyPoints, you can also get an extra 2,000 (worth around $13) from this special bonus link.
Update 11/7/23: Bonus increased now to 10,000 on Swagbucks ($100) and 15,000 on MyPoints (worth around $95-$100).
Offer at a glance
- Maximum bonus amount: $50 Swagbucks or around $63-$67 MyPoints
- Availability: Nationwide
- Direct deposit required: None
- Additional requirements: Initial deposit of $50+
- Hard/soft pull: Soft
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None mentioned
- Expiration date: Unknown
The Offer
- Open a Discover Cashback Debit account and start earning 1% cash back on up to $3,000 in debit card purchases each month. Plus earn 5,000 SB (worth $50) after making your first deposit of $50 or more.
- MyPoints is offering 10,000 which is worth around $63-$67.
The Fine Print
- SB will appear as Pending for 32 days.
- Must deposit $50 or more into Discover Cashback Debit checking account to earn SB.
- Must be a new Discover Cashback Debit account holder.
Avoiding Fees
This account has no fees to worry about.
Our Verdict
We haven’t seen any sort of signup bonus for this account in many years. Some people like doing these smaller bonuses with a simple account signup deals and not much else in the way of requirements. This account some people also find useful for the 1% back on debit card spend.
You won’t get a 1099 from Discover for this bonus (though legally you would likely have to self-report this income). Note, however, there is a chance of getting a 1099 from Swagbucks if you cross the $600 earnings threshold, see this post to learn more.
Hat tip to reader bullmeister and USDR
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
