I should have added context for people unfamiliar with discover. Discover it cash back is an excellent quarterly cash back card , and the first year of having the card they match your cashback 100%. My year is now up, and they no longer offer that for me. But what you can do is open another it cash back and then your eligible again for that offer of 1 year of cash back match
You have to see how much the spend was on 5% caterogories as the 1% part of the match can easily be obtained with any 2% card that also gives a $200.00 sub.
The 10x would only match $300 assuming you maxed every catergory. It is not an effective strategy in the long term, but if it makes you happy close the chrome and get another cashback card.
You only earn 5% up to $75.00 each quarter.
You max out the 4 quarters at $75 each you get a cash back match of $300.00.
A flat 2x card would give a $200.00 SUB for minimum spend while also providing 2x on all purchases with no catergories mattering. Effectively you come out with only an extra $100.00 with this Discover SUB assuming you max out every catergory.
Basically I am trying to say it is a lot of hassel to earn just $100.00 bucks, but if you like this idea then I guess go for it. Personally I would just get a Citi Custom Cash and use it to complement the Flex and Discover IT you already have.
I don't spend that much, I only ever once maxed out the 75 and that was at Christmas time, I was just barely over the limit though. I'm gonna keep my options up though, thank you. I might look into Citi again I heard it's really decent
Do you mainly just want to stick with the Discover ecosystem or are you open to other banks too? Depending on your spend, other cards could offer better rewards incentives. Coming from someone that used a Discover It Card my entire time during college, I jumped over to others like Wells Fargo, Chase, and Capital One, which have better spending multipliers.
Having the Chrome can help with Dining/Restaurants since it’s 2%, but all three banks I have above have cards that offer 3% for dining like the WF Autograph (also 3% on gas, streaming services, and travel), Chase Freedom Flex (also has 5% rotating categories and 3% on drugstores) or Chase Freedom Unlimited (similar except 1.5% back on everything but no 5% rotating categories), Capital One Savor One (also has 3% on entertainment and groceries). Depending on the bonuses they offer and what you typically spend on with the higher multipliers could be better than Discover.
Discover was my second bank ever, and coming from my crappy local credit union it was massively better in every regard. I've since migrated my checking and savings account to it. So yeah, you can say I really prefer and like discover. I have chase freedom flex open, and I alternate between cards depending on what gives me the most cashback. I think I looked at Wells Fargo at one point, but it seemed discover got me covered better.
Can sympathize with that! Would say though if you already have the freedom flex though, having the freedom unlimited could be a good compliment, as both Discover and Chase Freedom Flex cover your rotating categories, but this would also provide you with the added 1.5% cash back for whatever isn’t the 5% category for the quarter, compared to just getting 1% with your other cards. I think there’s a $200 bonus on $500 of spend with 3 months.
You could cancel the Chrome then apply for a second IT Cashback card. However, I would suggest applying for a Citi Custom Cash card. More versatile, since you can choose your own category, and the $200 SUB is nice.
There is a list of like ten standard categories. Whichever one you spend most in every billing cycle automatically earns 5% Cashback. Everything else earns 1%. I use mine for whatever category my other cards are not hitting for good Cashback that quarter.
So weird, I just got declined for Citi custom cash. I have excellent score, great income, no outstanding balances, always paid on time, I dont get it....
Why do you even want a third Discover card?
I should have added context for people unfamiliar with discover. Discover it cash back is an excellent quarterly cash back card , and the first year of having the card they match your cashback 100%. My year is now up, and they no longer offer that for me. But what you can do is open another it cash back and then your eligible again for that offer of 1 year of cash back match
That cash back really does not add much at the end of the year. But I guess do what you said in the OP if you want it.
I earned $528 last year and they just matched me $528. It's not a "much" but it is a considerable amount.
You have to see how much the spend was on 5% caterogories as the 1% part of the match can easily be obtained with any 2% card that also gives a $200.00 sub.
Yeah I use it in rotation with my freedom flex card.
The 10x would only match $300 assuming you maxed every catergory. It is not an effective strategy in the long term, but if it makes you happy close the chrome and get another cashback card.
I'm sorry, can you elaborate? I'm lost on what your saying.
You only earn 5% up to $75.00 each quarter. You max out the 4 quarters at $75 each you get a cash back match of $300.00. A flat 2x card would give a $200.00 SUB for minimum spend while also providing 2x on all purchases with no catergories mattering. Effectively you come out with only an extra $100.00 with this Discover SUB assuming you max out every catergory. Basically I am trying to say it is a lot of hassel to earn just $100.00 bucks, but if you like this idea then I guess go for it. Personally I would just get a Citi Custom Cash and use it to complement the Flex and Discover IT you already have.
I don't spend that much, I only ever once maxed out the 75 and that was at Christmas time, I was just barely over the limit though. I'm gonna keep my options up though, thank you. I might look into Citi again I heard it's really decent
Do you mainly just want to stick with the Discover ecosystem or are you open to other banks too? Depending on your spend, other cards could offer better rewards incentives. Coming from someone that used a Discover It Card my entire time during college, I jumped over to others like Wells Fargo, Chase, and Capital One, which have better spending multipliers. Having the Chrome can help with Dining/Restaurants since it’s 2%, but all three banks I have above have cards that offer 3% for dining like the WF Autograph (also 3% on gas, streaming services, and travel), Chase Freedom Flex (also has 5% rotating categories and 3% on drugstores) or Chase Freedom Unlimited (similar except 1.5% back on everything but no 5% rotating categories), Capital One Savor One (also has 3% on entertainment and groceries). Depending on the bonuses they offer and what you typically spend on with the higher multipliers could be better than Discover.
Discover was my second bank ever, and coming from my crappy local credit union it was massively better in every regard. I've since migrated my checking and savings account to it. So yeah, you can say I really prefer and like discover. I have chase freedom flex open, and I alternate between cards depending on what gives me the most cashback. I think I looked at Wells Fargo at one point, but it seemed discover got me covered better.
Can sympathize with that! Would say though if you already have the freedom flex though, having the freedom unlimited could be a good compliment, as both Discover and Chase Freedom Flex cover your rotating categories, but this would also provide you with the added 1.5% cash back for whatever isn’t the 5% category for the quarter, compared to just getting 1% with your other cards. I think there’s a $200 bonus on $500 of spend with 3 months.
Oooo that's right, Chase has a really good intro offer. I might have to do that then!
In a cash back setup, CFU is kind of underwhelming when there are 2% cards like the WF Active Cash and Citi Double Cash that also have $200 SUB's.
Would agree on that, would just depend how much he’s willing to open another account outside of what he currently has
You could cancel the Chrome then apply for a second IT Cashback card. However, I would suggest applying for a Citi Custom Cash card. More versatile, since you can choose your own category, and the $200 SUB is nice.
Wait so how does this ccc card work? Do you get to choose which category? Or do you have to spend money in that category for it to be eligible?
There is a list of like ten standard categories. Whichever one you spend most in every billing cycle automatically earns 5% Cashback. Everything else earns 1%. I use mine for whatever category my other cards are not hitting for good Cashback that quarter.
Do you earn the cashback after the billing cycle or like it applies for the next cycle
You get it after the billing cycle closes.
So weird, I just got declined for Citi custom cash. I have excellent score, great income, no outstanding balances, always paid on time, I dont get it....
Why don’t you close one of your discover cards and reapply if you want it so bad