With the recent release of the Discover Miles card, it seems as though Discover plans to up the anti further by offering an additional $ 200 cash back to consumers who signup for this special extra cash back bonus promotion. We’ve also heard of some Discover card holders being offered bonuses up to $ 500 (YMMV).
While these offers are targeted and cashback amount along with offer terms will vary per customer, they’re unique in that you don’t need to signup for a new credit card. As long as you already have a Discover card, there’s a chance you can signup for the promotion on their website. In order to earn the $200 cash back bonus, you’ll need to spend $ 1,500 on your card EACH month within the next three months. They’ve done these extra cash back promotions before — last year it was $ 150 for me. We’re always on the lookout for ways to improve our travel account balance, and this is just another great opportunity. If you like deals like this, subscribe to our RSS feed or weekly newsletter to get them delivered to your inbox.
How to get the Discover Extra $ 200 Cash Back Bonus Offer
1. First, and most importantly, you need to have a Discover credit card. If you don’t have one you can signup on their secure site. We know consumers have been offered the cashback bonus who hold Discover More and Discover It cards. While I’m not sure if they are offering it to customers who hold the new Discover Miles card – it’s a lucrative offer that competes with other major travel credit cards in the space — including the Chase Sapphire Preferred and Barclaycard Arrival Plus.
2. Check if you’ve been targeted and signup for the extra cash back offer by 03/31/2015 at discover.com/extracbb and be sure you are logged into your online Discover account. (Note: you will NOT be eligible if you do not signup by March 31st) You can also call Discover at 1-866-645-1436 to signup for the $200 cash back promotion. The call won’t take more than a minute or two. Note that the March deadline was specific to me. Be sure to adhere to whatever signup deadline you see on the Discover website to be eligible.
3. Once you’re signed up, you will need to spend at least $1500 EACH month, between April 1st, 2015 and August 31st, 2015. (Double check the terms at discover.com/extracbb in case monthly spend is different for you)
4. Once you’ve completed the above requirements, Discover will deposit the extra $200 cash back bonus into your account after the end of the promotion in early September.
This cash back bonus offer is better than it appears…
As you’re going about your business working towards acquiring the extra $200 cash back bonus, you’re still simultaneously earning cash back on your regular spend with your Discover card. For example, Discover cash back cards, like the Discover It card, offer up to 5% cash back on rotating quarterly categories. As an example, Discover is offering 5% cash back on all Restaurant and Movie purchases during the second quarter of 2015. Add all of that cash back in those categories to your $200 bonus at the end of Q2 and you’ll see that you’re really coming out on top.
Looking for a new Discover credit card? We recommend the Discover Miles card — which is a brand new product from them that was just released in early March 2015. You automatically earn 1.5 points for every dollar you spend on any purchase. After your first year of being a Discover Miles card holder, Discover then doubles all of your miles earned — netting you 3x miles per dollar spent. My favorite part about this new card is they give you $ 30 every year to go towards in-flight WiFi. There’s also no annual fee, no foreign transaction fees and much more. A really solid, competitive travel rewards card from Discover. Check out more about the Discover Miles card at the Discover website.