UPDATE: Discover announced that gift cards will not be included in the Apple Pay promotion. While it makes big profits more difficult, this is still a great deal.
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You may want to sit down for this one! If you thought our previous posts about the Companion Pass, the secret 100k Amex Platinum offer, or the FREE roundtrip Hawaii tickets were great deals… well, you would be correct. But seriously, this new offer from Discover trumps all of those!
The Discover IT card has been overlooked for a long time. It is basically Discover’s answer to the Chase Freedom card. The IT card offers a standard 1% cash back on all purchase and 5% cash back on rotating categories each quarter. This was not particularly exciting until Discover announced in July that they would be doubling all cash back for 13 months on new accounts. Now the relatively unexciting cash back became quite a bit better at 2% on all purchases and 10% on rotating categories.
Today, everything got crazy! Discover rocked the miles/points game with an announcement: They will be offering an additional 10% CASH back on all in-store transactions using Apple Pay with your linked discover card! This offer caps at $10,000 spent, and it ends on 12/31/2015.
Discover reps on Twitter have confirmed that this 10% is on top of the standard 1% cash back on all purchases or 5% on category purchases!! Additionally, EVERYTHING will be DOUBLED!! Quick math shows (1% + 10%) x 2 = 22% back on purchases or (5% categories + 10%) x 2 = 30% back on category purchases!! This means $2,200 – $3,000 PER CARD!
You will be able to add your Discover card to Apple pay on 9/16/15 when iOS 9 is released. So, go ahead and grab the card ASAP! If you apply using the links in this post, you will also get $50 cash back. The double cash back promotion will automatically be added to your card, and the CASH will be credited after 12 statements. So, the sooner you get the card, the sooner you can rack up the CASH!
Apple Pay is accepted at these stores, and Discover gives this list of department and clothing stores (4Q category). Macy’s and Bloomingdale’s are the two department stores that appear on both lists, and any clothing store that accepts apple pay should work. I personally plan to buy gift Visa cards at grocery stores or Walgreens to earn the 22%, and then liquidate them using manufactured spending techniques. This is a HUGE opportunity, so don’t miss out!