5% Cash Back on Credit Card Purchases
Author: newyearsday1985
Posted: Sat Nov 12, 2005 9:19 pm
Post subject: Discover card: 5% cash back for online shopping
I don't have a discover card myself but my brother does and he just added me as his authorized user. Discover is giving 5% cash back for online shopping from Nov 25-Dec 31. I just called Discover and asked whether paying through Paypal counts as "online shopping". The woman said it does. If that is the case, that means I can create 2 paypal accounts, use the discover card to pay 1 account to the other. Paypal charges $.30+2.9% for every credit card transaction. If I do get 5% doing that, I could pocket the 2.1% (less 30 cents). If I pay myself 10,000, I will be pocketing $210!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Polonius
Posted: Sat Nov 12, 2005 10:22 pm
Post subject:
Uh, no. Read the fine print.
You get 5% back all right--on the first $500 of your purchases only.
So you can make $25 tops with this promotion. Still, no reason not to take it.
Just another warning folks--these banks/cards are sly. Be careful out there!
You also have to sign up for the offer, by the way. It's free to sign up--but if you don't sign up you don't get the extra money.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: newyearsday1985
Posted: Sun Nov 13, 2005 3:19 am
Post subject: 5% Cash Back on Credit Card Purchases
I checked that up and yea you are right.
I already signed up, thanks for telling me.
Author: maddybeagle
Posted: Sun Nov 13, 2005 8:32 am
Post subject: 5% Cash Back on Credit Card Purchases
It is only available for the regular card and not the other flavors. I have the home improvement card and it takes a little time to switch. The only shopping I do online is amazon.com and I get 3% there anyway.
Author: JaneiR36
Posted: Sun Nov 13, 2005 10:12 am
Post subject:
That sure is an important note about the $500 limit! I certainly didn't see it before signing up
I wouldn't spend that much in a matter of two months, anyway, but it sure would be nice to get the 5% cash back. I wonder if other companies will follow suit in some way shape or form because a) people will be holding out on certain online purchases until they can get the 5% cash back from Discover, or b) when the reward kicks in, Discover card usage will surpass all others?
Personally I have a jacket I've been eyeing online for the past few weeks. I think I will wait till post November 25th to buy it and a couple other online purchases, but I'm not sure how long I can hold out...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sat Nov 12, 2005 9:19 pm
Post subject: Discover card: 5% cash back for online shopping
I don't have a discover card myself but my brother does and he just added me as his authorized user. Discover is giving 5% cash back for online shopping from Nov 25-Dec 31. I just called Discover and asked whether paying through Paypal counts as "online shopping". The woman said it does. If that is the case, that means I can create 2 paypal accounts, use the discover card to pay 1 account to the other. Paypal charges $.30+2.9% for every credit card transaction. If I do get 5% doing that, I could pocket the 2.1% (less 30 cents). If I pay myself 10,000, I will be pocketing $210!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Polonius
Posted: Sat Nov 12, 2005 10:22 pm
Post subject:
Uh, no. Read the fine print.
You get 5% back all right--on the first $500 of your purchases only.
So you can make $25 tops with this promotion. Still, no reason not to take it.
Just another warning folks--these banks/cards are sly. Be careful out there!
You also have to sign up for the offer, by the way. It's free to sign up--but if you don't sign up you don't get the extra money.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: newyearsday1985
Posted: Sun Nov 13, 2005 3:19 am
Post subject: 5% Cash Back on Credit Card Purchases
I checked that up and yea you are right.
I already signed up, thanks for telling me.
Author: maddybeagle
Posted: Sun Nov 13, 2005 8:32 am
Post subject: 5% Cash Back on Credit Card Purchases
It is only available for the regular card and not the other flavors. I have the home improvement card and it takes a little time to switch. The only shopping I do online is amazon.com and I get 3% there anyway.
Author: JaneiR36
Posted: Sun Nov 13, 2005 10:12 am
Post subject:
That sure is an important note about the $500 limit! I certainly didn't see it before signing up
I wouldn't spend that much in a matter of two months, anyway, but it sure would be nice to get the 5% cash back. I wonder if other companies will follow suit in some way shape or form because a) people will be holding out on certain online purchases until they can get the 5% cash back from Discover, or b) when the reward kicks in, Discover card usage will surpass all others?
Personally I have a jacket I've been eyeing online for the past few weeks. I think I will wait till post November 25th to buy it and a couple other online purchases, but I'm not sure how long I can hold out...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 4:10 PM
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