Discover - Discover Card Cashback Bonus Review

We first acquired the Discover Card Cashback Bonus card when we opened our business and needed a card that was accepted at Sam's Club for stock and store supplies.  At the time Discover Card was the only card accepted in the big box store.  With that business now sold we only do enough transactions on this card to keep it up and running, maintaining the long life of this credit to our FICO scores.

In our financial plan we utilize credit cards as a tool to track all our spending and to earn cash rebates on everything we purchase.  We also pay in full any charges made every month make the rebate a true cash back and extra income stream. However, Discover Card Cashback Bonus card is not our first choice when we open our wallets.

Discover Card Cashback Bonus does offer fabulous quarterly rewards of 5% that you can sign up for on their site and earn an extra $20-$25 of bonus cash.  All quarterly rewards of 5% receive a maximum of $300-$400 in purchases.  Currently, I am using this card for my gas purchases, to receive the 5%, then I will let the card rest in my wallet and revert back to my other cashback cards.

The main reason that Discover Card Cashback Bonus does not remain my number one card, is because they have a tiered cash back system which makes the user confused and come to the realization that there is more to be made using other cards that maintain a 1-3% cashback at all times. 

Tiered Program:

• Warehouse store purchases and the grocers affiliated with them - .25% ALWAYS
• 0-$3k in purchases earns you -  .25%
• $3001 - unlimited earns you - 1%

Should you purchase $10k on charge cards a year and not shop the warehouse stores, you would earn $77.50 from Discover Card Cashback Bonus.  When you open your wallet and chose a card with no restrictions and a constant 1% cashback you will earn $100.  It is easy to see how using Discover Card Cashback Bonus is costing you $22.50.