April 8th, 2011
Review: Discover More Card Capitalizes on Consumer Shopping Trends
February’s retail data show that consumers shopped less, but Discover is hoping to send shoppers back to the mall. Discover More Card’s new opportunities offer cash back through a year-long rewards schedule with cash back categories, retail redemption options, and the ShopDiscover virtual shopping mall.
By offering 5% cash back on categories such as travel, restaurants, gas, and groceries at different times of the year, Discover is seeks to boost consumer spending–as long as that spending is done on a Discover card.
Cashback Bonus Rewards Schedule
Discover announced yesterday that it will be giving cardmembers additional opportunities for cashback bonuses and rewards. Its 5% Cashback Bonus program has been around for a while, offering the rewards on a seasonal schedule. The newest addition is that starting in June, cardmembers can earn a 5% cash back bonus on up to $200 in grocery and drugstore purchases. That means more ways, on top of the current June categories, for consumers to earn money on spending necessities like food and toiletries.
Here’s an outline of the Discover More Card’s updated cash back rewards schedule, including the new cash back offering for the month of June.
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Rewards Period
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Cashback Categories
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January – March
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Travel and restaurants
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April – June
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Home, clothing, and department stores
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June only
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Grocery and drugstores
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July – September
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Gas and hotels
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October – December
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Restaurants and fashion
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Additional Redemption Options
Discover cardmembers can redeem their cashback bonuses with over 125 of Discover’s retail and restaurant partners in the form of gift cards or eCertificates, such as Bed Bath & Beyond, Olive Garden, and the Gap.
Discover will also be adding new brand-name products to the mix, such as digital cameras, tools, and seasonal products.
More Opportunities at ShopDiscover
ShopDiscover, Discover’s online shopping mall, gets you the most of your Cashback bonus. At ShopDiscover, cardmembers can earn 5% to 20% in Cashback Bonuses on their purchases. The virtual shopping mall has over 200 retailers like Zappos, Best Buy, Fandango, JCPenney, The North Face, and lots more.
Starting this quarter, ShopDiscover will be adding more retailers such as Lowe’s, Expedia, Bed Bath & Beyond, and Golfsmith. Plus, many purchases made through ShopDiscover can be shipped for free.
Card Details
The Discover More card has no annual fee and offers 0.00% APR for 6 months or an introductory balance transfer APR of 0.00% for 24 months. After the introductory period, the APR will be between 11.99% and 19.99% based on the cardholder’s creditworthiness.
But if you decide to sign up for a Cashback card like the Discover More card, be careful that the cash back rewards schedule doesn’t sway you to buy something for which you have no immediate need. Just because you can get 5% back on clothing purchases this month doesn’t mean you should buy a new wardrobe. So stick to your budget and let your rewards work for purchases you’ve planned to make.
So What?
Cash back rewards are nothing new. The Chase Freedom Visa also offers 5% cash back on seasonal categories, such as home, lawn, and garden purchases for the months of April, May, and June. What sets the Discover More Card apart is its online mall. The variety and scope of rewards at retailers offered by ShopDiscover repeatedly comes out on top when compared with other bonus point malls, even its close competitor, the Chase Ultimate Rewards Mall, as noted by Nerd Wallet.
And now that ShopDiscover is adding more retailers and brand-name products to the mix, cardmembers will be able to find more products that fit their needs, not just their wants, such as plane tickets via ShopDiscover’s new partnership with Expedia.
Bottom Line: In a time when credit card rewards seem to be moving away from cash back and towards merchandise and gift card rewards, Discover’s Cashback Bonus program is a breath of fresh air to help you earn more on the purchases you already make.
Need more info? See what Credit Karma users are saying about the Discover More Card on our “Credit Cards” page!
Disclaimer: All information posted to this site was accurate at the time of its initial publication. Efforts have been made to keep the content up to date and factual. This content is not provided or commissioned by the bank or issuer. Opinions expressed here are author’s alone, not those of the bank or issuer, and have not been reviewed, approved or otherwise endorsed by the bank or issuer. For complete product details visit bank or issuer website for details.
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