Coming Soon: The Doubling (of Discover Cash Rewards Earned This Year)

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Or, “The Month Discover Pays My Mortgage

Or, “The Dublin

  • Link: Discover It (with $50 bonus after 1st purchase)

An event so anticipated. It only happens once per year. The month Discover is nice enough to pay my mortgage – THE DUBLIN.

Not this Dublin - but close!

Not this Dublin – but close!

If you don’t have a no annual fee card, or if you staunchly refuse to pay an annual fee on a card for whatever reason, you definitely have a lot of options.

Without making an exhaustive list, I can think of the Citi Hilton Visa, Chase Freedom, Citi Costco, Amex EveryDay, and the Chase Ink Cash and Amex SimplyCash Plus for small businesses.

And, if you want a cashback card with no annual fee, the best ones are:

  • Discover It (5% bonus categories and 1% cash back on other purchases, doubled after the 12th billing cycle for new cardmembers)
  • Discover It Miles (1.5% cashback on all purchases, ditto for the double cash back)
  • Fidelity Visa (straight 2% cashback, but you have to have a Fidelity account – all free to have and open)
  • Citi Double Cash (2% cashback, but you earn 1% when you make a purchase and 1% when you pay it off)

I tend to like bonus categories because I make the most of ’em, but you might prefer straight cashback with no categories to think about.

You can find all the cards that aren’t linked above by clicking through here.

History of The Dublin

In June 2015, Discover announced it would double the cashback earned for new cardmembers with the Discover It and Discover It Miles cards after the 12th billing cycle (or if you were lucky enough to add the promotion to your existing card).

SQUEE!

SQUEE!

That means The Dublin has already kicked in for some peeps. But this promotion really started gaining traction around August and September 2015. That’s when I joined (in August).

Since then, I’ve been dutifully following the 5% cashback calendar on the Discover It card. Activating each time.

Restaurants was a good one

Restaurants was a good one

I’ve earned 5% on Uber rides, restaurants, my Netflix subscription, and now purchases on Amazon.com.

Of course, they’ve really been 10% categories – which is awesome.

Better yet, Discover will also double anything you’ve earned from the Discover Deals shopping portal.

Some of the portal payouts for stores with a 5% bonus category have been as high as 10%.

For example, when Kohl’s was in the 5% department stores category, the Discover Deals portal added an extra 10% in cashback – which will double to 20%. Add it all together, and it was possible to get a 30% discount at certain stores thanks to The Dublin.

Luckily, this promotion is still running for new cardmembers. So if you want to take part, here’s my referral link with a $50 sign-up bonus (that’ll get doubled too, when you experience your own Dublin).

Is it repeatable?

I wonder if I can close my current Discover It card once The Dublin happens – and then open another one.

Largely because this caught my eye:

I want that 0% APR

I want that 0% APR

I wrote about getting a card with a 0% APR period to kick-start my student loan payoff. Could this be my ticket to accomplishing that goal and resetting a new Dublin?

I’ve also written about why a no annual fee card is necessary for healthy personal finances. The goal is to keep them open as long as they’re free. But maybe this one deserves to be closed and reopened.

My Own Dublin

I know some peeps have run a LOT of cash through this card, especially with the Apple Pay 23% cashback promo. And I wrote how it was possible for even the casual Discover It cardholder to earn an easy $600 in cashback.

Now, I’ve participated in every bonus category. Shopped through the Discover Deals portal to furnish my Airbnb locations. And pretty much had this card in my back pocket for the better part of a year.

Here’s what I’ve earned in the past 11 months:

MonthBonus earnedTotal
1. September 2015$13.77
2. October 2015$526.34
3. November 2015$116.42
4. December 2015$6.13
5. January 2016$85.03
6. February 2016$107.29
7. March 2016$200.00
8. April 2016$28.17
9. May 2016$187.52
10. June 2016$24.74
11. July 2016$0.27
Total$1295.68

I’ve already earned $1,295.68. And after the 12th billing cycle closes, I should get another $1,295.68.

That means I’ve earned close to $2,600 in cashback this year – NOT BAD for a card with no annual fee.

Discover reminds me my anniversary is in August

Discover reminds me my anniversary is in August

My birthday is also this month, so that’ll be a nice present. It also means my September mortgage payment will be more than covered. Thanks, Discover!

Bottom line

While it may seem like Discover is giving away the farm – they’re not. I’ve gotten back far more from Citi this year.

Discover is growing their membership base, brand recognition, and word-of-mouth. Which leads to more sales, more merchant acceptance, and more loyal customers.

It’s all a part of the product sales cycle. I know this promotion lured me in – I’d never even considered getting a Discover card before I heard about it.

I do think Discover It is a fantastic introductory card for people who like category bonuses and/or cashback. And, it’s a great way to get to know shopping portals. Free money for clicking a link – couldn’t be simpler.

Discover It Miles is also worthy for its 3% cashback the 1st year. Both are fantastic cards for the 1st year, which is why I’m thinking of closing my current card and getting a new one to reset The Dublin.

This time of year, late summer, I know lots of peeps are getting ready for their own version of The Dublin. It certainly is an event to behold.

Did this promotion lead you to your first Discover card, too? Will you rinse and repeat to have another Dublin next year?

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About Harlan

Just a dude living in Dallas.

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