Discover recently sent out emails regarding what will be a reduction in the referral promotion that’s been active for as long as I can remember. Starting January 1, 2018, those who refer their friends to a Discover It Card will only be receiving $50 per referral rather than the current $100 Cash Bonus. Also, the sign-up bonus for new members or referred new members will not be eligible for CashBack Match, so essentially, instead of new members getting $100 for opening, it will only be $50 in statement credit. Very unfortunate, but definitely an understandable move from Discover.
Editor’s Note: If you’re looking to get in on the action before January 1, 2018, be sure to sign-up for the Discover It Card as soon as possible and reap the refer-a-friend for maximum cash bonus!
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Alternative Credit Card Bonuses:
- Chase Freedom Unlimited®
- Blue Cash Everyday® Card from American Express
- Chase Sapphire Preferred® Card
Discover Referral Statement Credit Bonus Summary:
This letter is to inform you that effective January 1, 2018 Discover® will be modifying the Refer-a-Friend program payout structure. You will now receive a $50 Statement Credit (previously $50 Cashback Bonus) for each friend who applies for the specific offer you send via the link provided and is approved for a new Discover account by December 31, 2018. You are eligible for a maximum of 10 referrals ($500) per calendar year.
Your account must be in good standing to receive your referral credit. Each eligible friend will receive a $50 Statement Credit after making a purchase within the first three months of opening a new Discover account. Existing Cardmembers and those who have opted out of receiving marketing communications from Discover are not eligible referrals. You will not be notified whether a specific referral was approved or declined. Please allow 1-2 billing cycles for the Statement Credit to post to your account after each approved referral. The Statement Credit you receive may be taxable to you. Please contact your tax advisor.
We’re glad you’re our Customer and we want to make sure you have the most rewarding relationship possible with Discover card. If you have any questions, please let us know. Knowledgeable Account Managers are available to assist you, 24 hours a day, 7 days a week by calling 1-800-347-3085, or you can always visit us at Discover.com.
Sincerely,
Discover Card Customer Service
Discover It Card Features:
- $50 Sign Up Bonus after first purchase within 3 months (Doubled to $100 – Apply For Discover IT Here ending January 1, 2018)
- No Annual Fee
- 1% cash back on all other purchases automatically (Doubled to $2%)
- 5% cash back in categories that change each quarter on up to $1,500 in purchases (Doubled to $10%)
- Doubled cashback will be awarded as lump sum on 13th statement
- Intro purchase APR is 0% for 12 months from date of account opening
Conclusion:
Discover It Card cardholders, you should have already received an email from Discover Bank regarding a reduction in their referral promotion starting January 1, 2018. Referred recipients, you will also be affected by this news as you will not be able to cash-back match the $50 when January 1 comes around. Definitely unfortunate news, but quite understandable.
Can’t really complain because Discover has always been good to me in terms of customer service and all. Seems like they’re also changing the way that the bonuses are credited to statement credit, however, I don’t necessarily see any big differentiation on that part. Nothing too out of the ordinary of strikingly terrifying in this case. If you still would like to apply for the Discover IT Card, you can do so with this $50 Sign Up Bonus, and be sure to check out our complete list of Credit Card Promotions today!
