The Discover More card is kicking it up a notch for 2012. Having just announced their 5% bonus categories for next year, there is one significant change we want to make sure you know about. In the past Discover has pushed their 5% cash back categories, but it felt like it was more smoke and mirrors than real value to cardholders because the cash back was severely limited to as low as $15 per month in certain categories. Discover has changed that policy (perhaps to compete with the Chase Freedom card) so that the More card 5% casch back wil apply to $1500 of purchases per month in certain categories. The Discover More card just joined the ranks of the best cash back cards.
What's the Catch?
The big catch here is that you have to enroll in the 5% rewards program each quarter. Might seem like a simple task, but how many of those mail-in rebate forms have you neglected to send in? Discover knows that they'll have a lot less 5% bonus cash to pay out if they require you to go through one more step. I'd recommend you setup a calendar reminder on your phone or computer so that you don't forget to take advantage of the offer. 5% can add up, especially for things you know you have to purchase like groceries or gas, not to mention cinema fans are in luck for 2012
2012 Categories:
Movie buffs are in luck for 2012, 5% back for most of the year
- First Quarter (January, February, March): Gas Stations, Movies, and Museums
- Second Quarter (April, May, June): Dining, Movies
- Third Quarter (July, August, September): Movies, Gas Stations, Amusement Parks
- Fourth Quarter (October, November, December): Department Stores, Toy Stores, and Electronics (!)
Other Discover Cash Back Perks
Don't forget Discover More gives you some other great ways to get cash back:
- 1% back on everything
- Probably as valuable as the 5% categories: Use the ShopDiscover site to purchase things you'd buy anyway (Apple, Banana Republic, Barnes & Noble, Expedia, Home Depot and a huge number of other stores.) and get 5%-20% back.
- Get a 10%-15% bump on your cash back by getting gift cards instead
- Use it as a statement credit and keep your balance paid down.
- Pay directly with your bonus on Amazon.com
What do you like about cash back cards?
What are you doing with your cash back this year?