CHANGES IN DISCOVER REWARD PROGRAM

[rixey]

Name of Card: Discover
Issuer: Discover
Overall Rating (out of 10):
Benefit Rating (out of 10):
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Remarks:

We are reducing the number of tiers that apply to calculate your Cashback Bonus. We are also making certain changes to the redemption requirements of the Cashback Bonus and Miles Program Terms and Conditions.

The following change applies to the Discover® More® Card, the Discover Open Road® Card and the Discover MotivaSM Card and will be effective for billing periods that end after June 1, 2009.

We are reducing the number of tiers that apply to calculate your Cashback Bonus from three to two in the subsection of the “How do I earn Cashback Bonus” section titled “All Other Purchases”. Except as otherwise provided in the Cashback Bonus Program Terms and Conditions, you will continue to automatically earn a full 1% unlimited Cashback Bonus on all purchases made after you make a total of $3,000 in qualified purchases during your anniversary year. The percentage that will be applied to calculate your Cashback Bonus tier level on your total qualified purchases at the end of each billing period will be as follows:


• 0.25% (.0025), if the purchases are part of the first $3,000 in total purchases during the anniversary year, and
• 1.00% (.01), if the purchases are part of the total purchases in excess of $3,000 during the anniversary year.
• Purchases made at select warehouse clubs, discount stores, and their affiliates earn .25% (.0025).

For the Discover More Card, you will still earn 5% Cashback Bonus on your qualifying Program Purchases. For the Discover Open Road Card, you will still earn 5% Cashback Bonus on your qualifying Gas and Auto Maintenance Purchases. See your Cashback Bonus Program Terms and Conditions for details. This change will also not affect any opportunities you may receive from us from time to time to earn additional Cashback Bonus.


The following changes apply to the Discover More Card, the Discover Open Road Card and the Discover Motiva Card and will be effective on May 1, 2009:

We are changing the redemption requirements for each of the redemption methods. If you elect to redeem your Cashback Bonus for:


• a gift card or instant eCertificate from our Partners or for a charitable donation to select charities, you may continue to redeem your Cashback Bonus starting at $20, but will no longer be required to redeem your
Cashback Bonus in $20 increments thereafter.
• a credit to your Discover Card Account or an electronic deposit into an account you designate, you may now only redeem your Cashback Bonus in increments of $50 ($50, $100, $150, etc).

We are adding a new rewards redemption method. You may now redeem your Cashback Bonus for a Discover Gift Card starting at $20 (not available if you reside in Colorado, Connecticut, Hawaii, New Hampshire, Rhode Island, Tennessee or Vermont).

For a list of Partners and redemption methods and amounts, visit Discover.com or call 1-800-DISCOVER
(1-800-347-2683).

The following changes apply to the Miles by Discover Card and the EscapeSM by Discover Card
and will be effective on May 1, 2009:


We are adding a new rewards redemption method. You may now redeem your Miles for a Discover Gift Card (not available if you reside in Colorado, Connecticut, Hawaii, New Hampshire, Rhode Island, Tennessee or Vermont). For a list of Partners and redemption methods and amounts, visit Discover.com or call
1-800-DISCOVER (1-800-347-2683).

[az gal]

Actually, I'm happy they're changing the reward program because they've now put the nail in the coffin on my account! They must be out of their mind if they think I'm going to spend $3,000 before getting a 1% rebate!! I'll be getting my final $20 rebate from them this month and then I'm closing the account.

[Bill M]

I have decided to use my other credit card which is a Visa, because this particular credit card company kept their reward program intact. I do not want to cancel my Discover Card because I run the risk of having my credit score lowered. I do feel that if enough card holders complain and cancel they will be compelled to keep the current rewards program.