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Via Frequent Miler, the Discover It card is losing a very lucrative element of its most valuable perk!
This generous policy also applies to the $50 sign-up bonus, as well as the $50 bonus you receive for referring a friend to the card. So you’re effectively receiving $100 from the sign-up bonus and $100 from each referral bonus!
However, beginning January 1, 2018, your referral bonus and your friend’s sign-up bonus will no longer qualify for Discover’s cashback bonus match. That’s because Discover will begin giving the bonuses as statement credits instead of depositing them into your cashback bonus account.
Referral bonuses will also be capped at $500 per calendar year.
This is a bummer. But it won’t be the end of the world for most folks!
That said, it’s still an incredibly valuable perk! If you prefer to earn cash back over miles & points, I highly recommend the Discover It. Because the cashback bonus match turns the card’s rotating categories into 10% cash back for the first year!
Emily and I don’t earn a commission from this card, but we’ll ALWAYS tell you about a good deal!
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