Discover: Extra 2% or 3% cash back on up to $2K in purchases for some cardholders

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Discover is out with a targeted offer for some cardholders to earn an extra 2% or 3% cash back on up to $2,000 in purchases by December 15, 2020. This is on top of your ordinary earnings, which would be a great return on everyday spend, an excellent return in a quarterly 5% category and an outstanding return if you happen to be in the first year of card membership and got targeted.

Cheat Discover Apple Pay

The Deal

  • Discover is out with a special offer for targeted members to earn a bonus 2% or 3% cash back on up to $2,000 in purchases by December 15, 2020 after activating via a unique link in the email (see your email for your activation link)

Key Terms

  • Expires December 15, 2020
  • Must activate via link in email
  • Bonus cash back will be added within 2 billing cycles

Quick Thoughts

Stephen wrote about this promotion at GC Galore: he was targeted for an extra 2% back while his wife was targeted for an extra 3% back on the Discover IT card. That stacks on top of 1% earnings on everyday spend for a total of 3% or 4% cash on un $2,000 in otherwise unbonused purchases.

If you’re targeted and have not yet spent money in this quarter’s 5% bonus categories (Amazon.com, Target.com, and Walmart.com), you would therefore earn a total of 7% or 8% back on the first $1500 in spend at those sites (and then 3% or 4% on the remaining $500 in spend). That is excellent return for those sites.

It gets really significant if you’re in the first year of your Discover IT card and got targeted since Discover doubles all the cash back you earn in the first year. That means you’d be earning 14% or 16% back on the first $1500 in the quarterly bonus category, which is a phenomenal return for Amazon, Target, or Walmart spend.

If you’re a Discover cardholder, be on the lookout for an email about “A special thanks for being a loyal cardmember”.

H/T: GC Galore

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