Extra cash back has been Discovered

I arrived at work one day last week and checked my account balances, as I do every day. I logged into the Discover site and an offer I’ve never seen before popped up. So, I read it over and clicked on the “Sign Me Up” button.

Thank you for signing up for our exclusive promotional Cashback Bonus® offer. We are happy that you have decided to shift your spending to Discover® card and want to confirm the details of your offer.   You will earn $300 Cashback Bonus after you make a total of at least $2,000 in purchases each calendar month from 12/1/14 to 4/30/15 with your Discover card.

If I spend $2,000 on my Discover card each month from December to April, I’ll earn an additional $300 cash back. That’s on top of the 5-20% cash back I get for using Discover‘s “Shop Discover” online mall portal. And also on top of the 5% bonus cash back calendar, which is offered on Online Shopping & Department stores, through December 31 and then Gas in January to March and then Dining & Entertainment in April. I also get 1% cash back at any place not listed above.

Spending $2,000 on my card each month will be fairly easy. I’ve already updated all of my auto-pay accounts to bill to my Discover card. And then there’s Christmas…

From what I’ve read about this discount, it’s by invite only and cardholders randomly receive this or a similar offer. I totally recommend getting a Discover card.

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Put your cash to work

I’ve heard of a small movement in which people live solely on cash.  They only pay cash for their necessities.  And they keep the extras to a bare minimum. They don’t use credit at all.  I don’t think that’s very smart.

I completely agree with not buying something unless you have the cash for it and cutting out the extras. I wish I were able to stick to those ideas a little better. However, use credit cards to your advantage. You could be earning cash, gift cards, flights, etc. There are so many cards out there that will make your money work for you.  You just have to know what you’re looking for and what works for you.

  • I don’t apply for any credit card that has an annual fee. I’m cheap. I’d rather not pay for my freebies.  However, the earnings potential goes up greatly when you have a card that has an annual fee.  As far as I know, none of the major airlines offer a no annual fee credit card. But if you know you’re going on vacation, it might actually be worth it to pay a fee for a card that’s going to earn you free flights.  Just do the math first.
  • I use my credit card as much as I possibly can. Unless a store doesn’t take major credit cards or there’s a transaction fee or I have a better deal with a store credit card, I use my credit card that earns cashback for every single purchase I make. I’ll use it for ANYTHING.  I charged the maximum amount ($5000) that the car dealer would let me charge when I bought my car (I had the cash to cover it).  I’ve used it for a 59 cent bag of M&M’s.  I have no shame. I earn at least 1% cashback on every purchase and sometimes up to 5%. If they’ll give it, I’ll take it.
  • I pay my credit card off every month. If I don’t pay off the entire statement amount, I pay interest. My interest rate is 12.99%. I’m no calculator, but that appears to be about 11.99% higher than my 1% cashback earnings.

You can still live the “Envelope Budgeting” lifestyle with a credit card. You just have to have a lot of self-control and a little spending savvy.