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How’s Discover credit card?

Old 02-10-19, 02:19 AM
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Re: How’s Discover credit card?

You can use a credit card without accumulating debt.
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Old 02-10-19, 02:22 AM
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Re: How’s Discover credit card?

Originally Posted by Obi-Wan Jabroni View Post
If you don't have a balance and don't charge something to them at least occasionally, there's a good chance that they will close them for you. My oldest credit card is the one that I pay for my Netflix membership with, for just this reason.
They'll definitely close the cards eventually, and most likely without any notice!
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Old 02-10-19, 08:44 AM
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Re: How’s Discover credit card?

Originally Posted by Sonic View Post
I would partially agree with you. But it's good to have one credit card in case something goes wrong with the debit card.

Also I have gotten cash back which is nice.
Absolutely. If you're paying it off every month, you should use a CC for the rewards. Particularly if there is no annual fee.

I charge about $25K or so per year on my CC and get 1.5% back so that's $375.

I need to look into that Citi 2% card.
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Old 02-10-19, 09:22 AM
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Re: How’s Discover credit card?

Originally Posted by Obi-Wan Jabroni View Post
If you don't have a balance and don't charge something to them at least occasionally, there's a good chance that they will close them for you. My oldest credit card is the one that I pay for my Netflix membership with, for just this reason.
Sure, something here and something there - usually something cheap. I've had my Discover card almost 20 years.

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Old 02-10-19, 09:23 AM
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Re: How’s Discover credit card?

Originally Posted by ben12 View Post
You can use a credit card without accumulating debt.
Of course. And about 90% of people do not use it without accumulating debt.
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Old 02-10-19, 11:54 AM
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Re: How’s Discover credit card?

Originally Posted by Why So Blu? View Post
Meh. Debt free is best. You think banks just give you the shit for free?

That's the rub, being fiscally responsible. Don't risk it. They want you NOT to be fiscally responsible.
Yes, I get lots of free stuff. It doesn't matter what "they" want, its on the individual to manage their side of it. Like I said, for anyone fiscally responsible there's little reason not to take advantage of the benefits a lot of credit cards out there offer.
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Old 02-10-19, 01:04 PM
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Re: How’s Discover credit card?

Originally Posted by fumanstan View Post
Yes, I get lots of free stuff. It doesn't matter what "they" want, its on the individual to manage their side of it. Like I said, for anyone fiscally responsible there's little reason not to take advantage of the benefits a lot of credit cards out there offer.
We get a ton of free travel, too. Just came back from a trip to Phoenix--free flights, 5 free hotel nights, free travel insurance, free rental car insurance, and a ton of free drinks and snacks at a mediocre airport lounge all because of credit card rewards. Never carry a balance on my cards, which are a mix of universal travel (Chase Sapphire Reserve) and branded travel (JetBlue, Marriott), and cash back (Costco). I am thinking of adding a Chase Freedom card because of the rotating 5% rewards categories and the way Chase allows you to pull those points into your Sapphire Reserve account instead of taking cash--basically making the points more valuable since they're redeemed at 1.5x face value.

We do pay in fees, but not in interest because we don't carry a balance. But my cards have some hefty fees. Anyone who uses a card like that has to look at their spending and see if they'd come out ahead. We do, by a lot, so it makes sense. For someone who carries a balance, low interest no fee cards would make more sense. For someone who doesn't carry a balance but doesn't charge much, cycling through cards with high initial incentives and a waived first year fee (then cancelling ) would make more sense.
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Old 02-10-19, 01:18 PM
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Re: How’s Discover credit card?

Originally Posted by fumanstan View Post
Yes, I get lots of free stuff. It doesn't matter what "they" want, its on the individual to manage their side of it. Like I said, for anyone fiscally responsible there's little reason not to take advantage of the benefits a lot of credit cards out there offer.
It's not "free," though.

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Old 02-10-19, 01:39 PM
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Re: How’s Discover credit card?

I love how these threads always get sidetracked. Now this is a discussion about credit card responsibility and revolving debt.

Sometimes you just don't have big amounts of cash laying around for a big necessary expense and you need to charge it or put it on a low interest financing plan.
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Old 02-10-19, 01:49 PM
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Re: How’s Discover credit card?

Having a good credit history sure helps when buying a house or car! (Or you can go Blu’s method and save up $500,000.)
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Old 02-10-19, 02:08 PM
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Re: How’s Discover credit card?

Originally Posted by Why So Blu? View Post
It's not "free," though.
If you're charging stuff that you would have bought anyway and paying it off every month, it really is.
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Old 02-10-19, 02:25 PM
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Re: How’s Discover credit card?

Well, it is not free for the business paying the credit card processing fee that is higher in order to pay the rewards which is then passed on to us in the form of higher prices.

So really, you might as well get the credit card rewards you already pay for.
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Old 02-10-19, 03:22 PM
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Re: How’s Discover credit card?

I've had a no fee Discover card for 10+ years, never had an issue with the card or Discover. Having a credit card and using it wisely is an excellent way to build credit for yourself so that one day if you decide to buy a car or a house, they'll be more likely to approve a loan. I would not have a credit card that charged me a yearly fee unless I had no credit or bad credit and I was forced to take a secured card at first, in order to build credit for myself.

I've enjoyed using the Discover cash back bonus at Amazon ever since they started that.

I also have a no fee Sony card which I've used the points from to get all kinds of neat stuff for free (floor-standing speakers, A/V receiver, PSOne, movies, etc., etc.).
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Old 02-10-19, 03:28 PM
  #39  
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Re: How’s Discover credit card?

Originally Posted by Why So Blu? View Post
It's not "free," though.
True, if you stick to the no fee cards and pay off your balance every month, the rewards or cashback is essentially a partial refund or discount on your purchase so you're really not getting anything free.

But on the original topic, Discover is not good anymore. They took away these benefits recently:

Price Protection
Purchase Protection
Return Guarantee
Extended Product Warranty
Auto Rental Insurance
Flight Accident Insurance

Not only that, for the cashback cards, IIRC, they only pay the 1% after you spend a minimum amount, unlike other cashback cards which pay 1% with no minimum.

Last edited by GMan2819; 02-10-19 at 03:34 PM.
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Old 02-10-19, 03:31 PM
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Re: How’s Discover credit card?

Originally Posted by Red Dog View Post
Absolutely. If you're paying it off every month, you should use a CC for the rewards. Particularly if there is no annual fee.
This. We pay off our credit card balances every month, and take advantage of the rewards. Credit card companies hate customers like us, but there are plenty of less responsible card users out there who generate big profits for them with the insane interest rates.

Saying this, I've never had a Discover card. I don't see the point as Visa and Mastercard are more commonly accepted, and I've found cards from both of them with great reward programs (and no annual fees).
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Old 02-10-19, 03:45 PM
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Re: How’s Discover credit card?

Originally Posted by Why So Blu? View Post
It's not "free," though.
Originally Posted by Obi-Wan Jabroni View Post
If you're charging stuff that you would have bought anyway and paying it off every month, it really is.
Exactly. You can try and nitpick the terminology to make a case, but the point remains that a savvy consumer can reap additional perks and benefits using credit cards then they would going to all cash/debit route.

Originally Posted by tasha99 View Post
We get a ton of free travel, too. Just came back from a trip to Phoenix--free flights, 5 free hotel nights, free travel insurance, free rental car insurance, and a ton of free drinks and snacks at a mediocre airport lounge all because of credit card rewards. Never carry a balance on my cards, which are a mix of universal travel (Chase Sapphire Reserve) and branded travel (JetBlue, Marriott), and cash back (Costco). I am thinking of adding a Chase Freedom card because of the rotating 5% rewards categories and the way Chase allows you to pull those points into your Sapphire Reserve account instead of taking cash--basically making the points more valuable since they're redeemed at 1.5x face value.

We do pay in fees, but not in interest because we don't carry a balance. But my cards have some hefty fees. Anyone who uses a card like that has to look at their spending and see if they'd come out ahead. We do, by a lot, so it makes sense. For someone who carries a balance, low interest no fee cards would make more sense. For someone who doesn't carry a balance but doesn't charge much, cycling through cards with high initial incentives and a waived first year fee (then cancelling ) would make more sense.
Yup, Chase Sapphire Reserve card holder here too. My wife and I have used the points for basically free first class flights to Asia last year. Sorry, "free"
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Old 02-10-19, 04:26 PM
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Re: How’s Discover credit card?

Originally Posted by GMan2819 View Post
Not only that, for the cashback cards, IIRC, they only pay the 1% after you spend a minimum amount, unlike other cashback cards which pay 1% with no minimum.
I earn 1% cash back on every dollar I spend using my Discover card, no minimum $$$ required, and 5% on every dollar I spend at places they're sponsering (probably not the right word) each period, like right now it's grocery stores. Again, no minimum $$$ required.

With my Sony card, I earn 1 Sony point for every dollar I spend, no mnimum $$$ required, and 3 points (I believe) per $ spent on Sony merchandise, again, no minimum $$$ required.

I've never heard of having to spend a minimum amount before you start earning cash back, but then I don't have any of those cards either.

Last edited by kd5; 02-10-19 at 04:33 PM.
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Old 02-10-19, 04:41 PM
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Re: How’s Discover credit card?

Originally Posted by cultshock View Post
Saying this, I've never had a Discover card. I don't see the point as Visa and Mastercard are more commonly accepted, and I've found cards from both of them with great reward programs (and no annual fees).
I've never been anywhere that didn't accept Discover.
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Old 02-11-19, 02:52 AM
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Re: How’s Discover credit card?

Originally Posted by kd5 View Post
I earn 1% cash back on every dollar I spend using my Discover card, no minimum $$$ required, and 5% on every dollar I spend at places they're sponsering (probably not the right word) each period, like right now it's grocery stores. Again, no minimum $$$ required.

With my Sony card, I earn 1 Sony point for every dollar I spend, no mnimum $$$ required, and 3 points (I believe) per $ spent on Sony merchandise, again, no minimum $$$ required.

I've never heard of having to spend a minimum amount before you start earning cash back, but then I don't have any of those cards either.
That's what I thought but this is what I found in the Discover Cashback Terms and Conditions for my card.



I don't know if those terms are for all of their cards just that it is for my card.
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Old 02-11-19, 03:19 PM
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Re: How’s Discover credit card?

Originally Posted by kd5 View Post
I've never been anywhere that didn't accept Discover.
Hmm, lots of places in Canada don't, but that might be because it's not a common card up here. If someone has a credit card, it's very likely a Visa or MC.
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Old 02-11-19, 03:28 PM
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Re: How’s Discover credit card?

There definitely are places that don't take Discover but I don't run into them very often. Visa/MC you're pretty much good everywhere. If you carry Discover or AmEx as your only card, you will find places that don't accept them
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Old 02-11-19, 07:05 PM
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Re: How’s Discover credit card?

If you sign up for the Discover It card they will give you the same amount you earned all through the year, after the first year is over. So if you accumulated $100 over the course of the year they will give you $100 in a lump sum after the first year is over.
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Old 02-12-19, 06:44 AM
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Re: How’s Discover credit card?

Originally Posted by OldBoy View Post
well, just really like the idea of $75 Amazon credit...
Taking a ding on your credit just to get a $75 credit is not recommended. That said I have had discover since 93.. my first credit card in college. Not the best card but it does the job. As far as the cash back, you can cash that out at any time once it accumulates on a statement, its not a one time thing. I completely maxed out my 5% through amazon and warehouse club spending at the end of last year, promptly credited my account each month with the bonuses

And to those complaining about the card not being free because of interest, etc... only people who dont deserve cards are those who are bad with spending and who run up bills. I recommend cards for anyone trying to actually establish credit, but you have to be aware of the ins and outs of them before using.
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Old 02-12-19, 07:55 AM
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Re: How’s Discover credit card?

You have an Amazon Store Card or Amazon Visa? If you only shop at Amazon, might as well get the Visa and get 5% back on all purchaes year round. Also, don't pay with points, since that works against earning points. Use the points for statement credits.
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Old 02-12-19, 08:08 AM
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Re: How’s Discover credit card?

Pretty sure my Discover Card is my oldest active line of credit, member since the 1980s. It’s rarely my primary card, and I often forget to activate or remember what the extra 5% rebate categories are, but I earn a hundred bucks or so a year, and have never paid a fee or interest.

My first credit card, somehow given to me as a teenager while visiting cousins in Akron Ohio, was an O’Neil’s Department Store card. I had a part-time job making $3.35 an hour, but they gave me a card with $100 limit. I don’t think I ever used it, just thought it was cool that I could get credit. They merged with Macy’s decades later. I wonder if my card would work there...
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