Discover IT Cash back card.

[PA DETAILER]

Anyone carry one? 5% cash back. No annual fee etc... Just felt that doing all my gas purchases and grocery purchases every weekend on my debit card linked to my checking, was getting me nowhere. Wanted my money to work a little harder. Stuff i buy every weekend. Finished the app. this morning and was approved. Plan to pay off the balance every month.

 

[Bill D]

We have had a problam here with card skimmers at gas pumps so I use a dedicated, low limit card just for gas. Discover isn't accepted much around here so i doubt I'll ever get one. I have enough cards as it is already

 

[Bruno Soares]

I have a Discover card that gives cash back but I tend to use my Amex most of the times as it’s higher cash back. All depends on which card you get, I don’t have the specific one you mention.

But paying everything with a credit card and getting cash back is the way to go. The only time I don’t is when it’s not accepted like to pay my mortgage or car payments. I use credit card for all I can and pay it off monthly, never paid a penny in interest to them. I usually get several hundred dollars per year in cash back.

At the gas station I use the Exxon app and pay directly on my phone with Apple Pay. No risk of getting my card skimmed that way.

 

[oneheadlite]

I don't have that specific one, but use a card with cash back rewards just as you say.

Cash back for stuff you were gonna buy anyway, plus as mentioned you get purchase coverage with a credit card that you may not with a debit card (especially if your card gets compromised as Bill said).

Used responsibly there's nothing wrong with credit cards. :dblthumb2:

 

[Odrapnew1]

I have a Discover card that gives cash back but I tend to use my Amex most of the times as it’s higher cash back. All depends on which card you get, I don’t have the specific one you mention.

But paying everything with a credit card and getting cash back is the way to go. The only time I don’t is when it’s not accepted like to pay my mortgage or car payments. I use credit card for all I can and pay it off monthly, never paid a penny in interest to them. I usually get several hundred dollars per year in cash back.

At the gas station I use the Exxon app and pay directly on my phone with Apple Pay. No risk of getting my card skimmed that way.

I don't have that specific one, but use a card with cash back rewards just as you say.

Cash back for stuff you were gonna buy anyway, plus as mentioned you get purchase coverage with a credit card that you may not with a debit card (especially if your card gets compromised as Bill said).

Used responsibly there's nothing wrong with credit cards. :dblthumb2:

I agree with both of these.
The card I have has 1% on everything and rolling 5% on certain categories every quarter.
Almost everything goes on my card and gets paid off each month.
I actually pay off the card balance close to the end of the monthly cycle so my balance at the end of the reporting period is very low (I've heard that better for credit reporting).


My card number was stolen last summer (I think). I had my card set up to notify me of charges over $20 or something like that.
I got a few notifications within a few minutes of charges (not by me), which I immediately called the credit card company and they took off those charges and changed my card number.
They also declined a couple hundred $ purchase within that timeframe because of the odd activity.

I question what would have happened if I was using a debit card.

Oh, and I know I've cashed in quite a bit in points.

 

[oneheadlite]

...
Almost everything goes on my card and gets paid off each month.
I actually pay off the card balance close to the end of the monthly cycle so my balance at the end of the reporting period is very low (I've heard that better for credit reporting).

...

The other thing I've heard for credit building is once in a while to let a balance roll over to the next month. I do that every now and then to exercise a card that's not in regular use - I'll use it a bit, pay half when it's due at the next statement, and pay it off the next period. Something to do with letting the banks know you're ok with them making money off you.

 

[Bruno Soares]

The other thing I've heard for credit building is once in a while to let a balance roll over to the next month. I do that every now and then to exercise a card that's not in regular use - I'll use it a bit, pay half when it's due at the next statement, and pay it off the next period. Something to do with letting the banks know you're ok with them making money off you.

Interesting, I’ve never tried that. But I’m ok with my current score, don’t need to try and see what happens. At this point my card issuers all know they’re not making money off me on interest

 

[Bill D]

They haven’t made a penny off me either.

 

[chilly]

I closed 2 accounts recently that were related to Synchrony Bank

I got a Lowe's card years ago to get 20% off a major purchase of high end appliances for a kitchen remodel and paid it off the next month

The card sat idle for several years and all of a sudden they dropped the card limit from $25,000 to $2,500 without warning, I am assuming to punish me for not using it and making them some interest $$$

The only reason I cared was activity like that can hurt your credit score

I immediately canceled the account as well as a second store account also linked to Synchrony that never got used as well

I kind of figured it would get downgraded as well so I figured I would act first

My credit rating took a small hit for a couple of months but bounced back quickly

 

[Bill D]

Wow, $2500 limit. Ouch. That’s even lower than the one on my “disposable” card. I’m sure it’s a good thing you got rid of those cards. I personably don’t want any more. I had to laugh in the face of a store clerk who told me I can never have too many.

 

[chilly]

Wow, $2500 limit. Ouch. That’s even lower than the one on my “disposable” card. I’m sure it’s a good thing you got rid of those cards. I personably don’t want any more. I had to laugh in the face of a store clerk who told me I can never have too many.

I know the stores pushing their cards is one of the things that gets a lot of people in trouble really fast

I get sick of the hard sell at the checkout in places like Old Navy and the like

I am sure the associate gets a bonus or something for every new account

They are almost always high APR to begin with and you are obviously better off without them

 

[Coatingsarecrack]

Good on you all but alot of folks couldn’t get by in life without Credit or and being able to pay for it on time.

Yes some get into trouble financially but alot get the benefit of getting things they need want and also build up there credit.

Nothing wrong with financing something you want need if you can’t afford it but can afford the payments. Like most of you if you financed your house.

Same thing, lesser extent.

And yes letting a balance sit and roll over is good for payment history. Builds depth of credit. If your already own/buying a home not very important.

Also reducing limits and closing accounts can ding your credit but all should be well in 90-180 days.


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