“In this hobby we say maybe 3 or 4 exciting or big new promotions a year, to me, that are actually worth getting excited about and I actually think this is one of them.” I was surprised to hear these words about Discover.
Then again, 40% cashback is a surprising thing even coming from Greg. So this was no doubt an interesting conversation to kick off my video and podcast career with TravelisFree.
Earlier I had mentioned wanting to test out doing video content as well and I hate talking by myself. My solution is to do interviews and record them. It also works out super well simply because I can publish the interview as both a podcast and a video.
I drug my feet getting started but it’s always better to do. So despite being sick (please forgive me being a sickly version of me), and starting out I’m not worried about audio quality… my focus was on starting. I can always improve, but I don’t want to invest in good audio and even more time just to find out that podcasts aren’t something people want, or video. Maybe both will be a hit, maybe one, maybe neither. I don’t care, my only goal is to make content that’s good and that people love.
With all those disclaimers let me just get this out there.
Update: I will have this up as an iTunes podcast as soon as my computer skills reach ~2010. Which… may take another 24 hours.
The interview is no doubt long, and the best part is no doubt once we start talking about Discover. I’ll list the topics by time below, also clickable to take you to that part of the video.
- What is manufactured spend? @ 5:37
- REDbird @ 6:05
- Discover @ 15:59
- Some card talk @ 22:50
- Back to Discover @ 27:40
For Those Who Read
In short you can load $5,000 a month on the REDbird, which you can then use to payoff your credit card directly from the REDbird. However, now they can’t be loaded with credit cards, instead you have to use a “debit” card. Which means if you want to earn miles/points, you need to buy a debit giftcard first and then load the REDbird. The links above can explain how.
Discover Double Rewards (even on 5x)
Stop and read these:
- Maximizing the Discover Double Cash promo: Which card is best? How many can I get?
- Maximizing the Discover Double Cash promo: Huge rewards via online shopping
Definitely the most important and relevant to our conversation is the first, which explains what the Double Cash promo is. Then the second link is really interesting because he talks about going through online portals.
In short, Discover is running this promo, kind of like a sign up bonus, where all your cashback rewards are doubled at the end of 12 months. So if you sign up for the “Discover it” and a couple other cards, or call and enroll if you’re already a card member, you have 12 months of Double Cash back. The Discover it card is important because it is the one that allows you to buy via the shopping portal which almost always gives 5% and gives as much as 20% cashback.
But that’s before doubling. So in the interview and in the “Huge rewards via online shopping” post, he gives a Sears example. The Discover portal is giving 10% cashback with Sears. And that’s before doubling. So right off the bat you can get something over 20% bonus on top of the regular spending cashback.
Then he talks about “double dipping”. In this case he buys Sears gift cards that give 10% cash back, and then goes back through the portal to actually buy something through sears. Say, a microwave. First you buy a Sears gift card (which also works at Kmart), and that gives 10% cash back. Then he goes back through and buys the microwave through the portal using the gift cards. This gives another 10% cashback for a total of 20%. Then with the double cash promo, all your rewards will be doubled! That’s 42% cashback, plus the regular spend being doubled.
How often do we have a deal like this? And how often do they last for 12 months? Not often. So for those who think this hobby gets harder, I say for every door closed, another one opens. Looks better to me.
If you enjoyed this, people let me know, and subscribe to the youtube channel. Also tell me which you prefer, audio (I assume so you can listen on the phone later and on the go) or video.