Right I'm not so pumped to get 5 percent back on a $10 purchase! spending 1,000 plus every quarter, or how ever you spell it won't happen I will probably spend 200 and with tears
Could your hack of taking advantage of the 15-month 0% financing be used to pay only minimum balances and keep the funds in a HYSA until the total due date? That would add more than 4% passive income to your cashback figure.
Actually you could get to the $1000 bonus with the $600 from rotating categories, $100 sign up bonus and $300 from investing all that 0% APR cash into federal money market at 5.3%. Also say about $100 more cash back on various items at 2% cash back.
Is it per fiscal year or calendar year? Meaning if I open it the last 3 months of 2024 will they only match 3 months of 2024 total spending or through October 2025?
If you like the Discover It cashback after a year you will be eligible for the Discover balance transfer and have the same quarterly bonuses (and another first year bonus match)
That's a good point, I guess a further breakdown of matching the 5% categories vs average household expenditure would be helpful. Thanks for the comment!
I just got my discover it card, because of your video, I really hope to learn more about how to make more reward points, I could only get an option of maybe a dozen cards though, I picked a cat lol
Make sure to read the fine print because I had a belle tire credit card and it said no interest for the first 6 months but only if you pay half of the balance first. So if you buy 4 tires for $600 you’ll have to pay off the $300 to get the no apy for 6 months. It’s stupid lol
I get the strategy but pushing to spend 20k just to get $400 cashback is not worth it. You can use a 2% flat cashback card at that point or use other cards to maximize even more spend.
Hey guys, I applied for this credit card, my first one, and it says after the 0% APR for the first 15 months, it'll be 28%. So now I'm kind of scared to activate it. Any suggestions?
@@Embrxceyourdemons No problem. I am going to fully max out this quarter by purchasing the iPhone 15 Pro Max with 256GB and upgrading my 13 pro max for $1,299 and pay 60% of the bill early.
LOLL. All the math is nice but it's not practical. You're living in a real world. No one is going to get a $33,000 discovery card limit. Most Discovery card holders are students without any credit history. Also, even if you were approved for that much money, I doubt anyone would spend that much on a Discovery card. Good on paper, but not realistic.
You don’t need a 33,000 limit to put that much spend on a card over the span of a year. If you paid your balance in full with each statement, you’d only need to have a limit of 2,750 and max out that limit every month for 12 months. No one is maxing out their limit like that, but even a modest credit limit of 3-4k could achieve this quite easily.
The Discovery IT card are made for first-timers, students, credit history re-building, and credit history builders. Most limit they will get is $5000 with +/- $1000. The rule is to stay under the 30% or 25% card utilization ratio. let's say you use $1000/$5000. $1000 x 12 = $12,000. UNLESS you're going to keep replenishing it every time you're knees deep, which is not ideal. @@sneakiertech
Yeah hate to break it to you my guy but you just aren't very good at math and dont understand how a revolving line of credit works🤣. 1) You don't need a $33,000 limit to make $33,000 in eligible purchases over the course of 365 days. If you analyze that number further, you'll realize that's less than $3,000 a month. 2) Credit lines are revolving not cumulative your credit limit is the maximum that can be spent at a time not all together meaning that paying your incurred balance will bring your limit right back up to its original amount. I'm an undergraduate student and first time credit card user who routinely spends well over $2000 on a $500 credit line. I technically "max out" my credit card 4 times in a month I spend $500 pay that off which resets my spending limit so I can spend another $500 and I keep doing that making sure my balance is either completely paid off or less than 15% utilization by the statement close date and never have issues I havent paid any interest to date. I have this process automated now so I'm not even manually making the payments. Next time just say you don't understand how it's possible to spend so much on a small limit rather than attempting to mock a concept you don't even comprehend.
"I'm an undergraduate student who routinely spends well over $2000 on a $500 credit line." - THIS LOLL. I stopped reading the rest of your comment. Thanks for the laugh. :)@@dominiqueg1639 Also, please refer to my above reply before you start commenting on someone's else response.
@@andysok06 Have fun with that 👍 Also try to advance you personality beyond the incredibly banal "debate me bro" reddit response. I believe in you. I'm sure you have a mature thought rattling around somewhere in that noggin of yours.🤣💀
![What Credit Cards You Should Have by AGE [Full Guide]](http://i.ytimg.com/vi/53s0vcO1NVs/mqdefault.jpg)
![What Credit Cards You Should Have by AGE [Full Guide]](/img/tr.png)
![[Full Guide] How to Climb the American Express Ladder in 2024](http://i.ytimg.com/vi/g5PdY-Kcduw/mqdefault.jpg)
Just completed my first year with this card. I got $564 total back.
My first card as well, and I STILL keep it in my lineup today. That cashback match is insane.
Yea 5% is really “insane” lol
@@tyriebarnes6164 No, it’s the match that makes it 10%. So, you get a total of 10% cashback. I think that’s very good for a starter card especially.
Ain’t nobody spending 30k on the Discover IT
Lmao true most ppl that have this card aren’t Spending anywhere near 30k
I said exactly this on my comment above. LOLL
Most people with this card hardly make 30k a year to spend on just a card😭
Looooool you can say that again
Right I'm not so pumped to get 5 percent back on a $10 purchase! spending 1,000 plus every quarter, or how ever you spell it won't happen I will probably spend 200 and with tears
Great video injoy watching it! Thanks for the info on the Discover It card..😁👍📹
Thanks Richard!!
Only liked the video because of that starter pokemon reference. The information was good too.
can you share video how you organize your spread sheet ? with credit cards how you pay for your cards etc
Could your hack of taking advantage of the 15-month 0% financing be used to pay only minimum balances and keep the funds in a HYSA until the total due date? That would add more than 4% passive income to your cashback figure.
Actually you could get to the $1000 bonus with the $600 from rotating categories, $100 sign up bonus and $300 from investing all that 0% APR cash into federal money market at 5.3%. Also say about $100 more cash back on various items at 2% cash back.
Is it per fiscal year or calendar year? Meaning if I open it the last 3 months of 2024 will they only match 3 months of 2024 total spending or through October 2025?
If you like the Discover It cashback after a year you will be eligible for the Discover balance transfer and have the same quarterly bonuses (and another first year bonus match)
Doesn't this card allow balance transfers?
@@RedSapphires it does, the 2 cards are the same except for the name as far as I can tell
But John, If You're in the 0% APR Period, Whiles Not paying off your balance Will it Still Affect Your Score
I love ❤️ my Discover it card!!!!
Seems like you’re just spending in order to save if you’re going to max out the 1500 dollars each quarter every time.
That's a good point, I guess a further breakdown of matching the 5% categories vs average household expenditure would be helpful. Thanks for the comment!
I just got my discover it card, because of your video, I really hope to learn more about how to make more reward points, I could only get an option of maybe a dozen cards though, I picked a cat lol
John, have you, or can you evaluate the Amex Blue cash preferred card?
Make sure to read the fine print because I had a belle tire credit card and it said no interest for the first 6 months but only if you pay half of the balance first. So if you buy 4 tires for $600 you’ll have to pay off the $300 to get the no apy for 6 months. It’s stupid lol
you dont have 600 dollars for tires?
@@revolucion5398no he doesn’t
@@revolucion5398that was very rude 😮
Can you explain how you moved from 5% cashback on rotating categories to 10% effectively?
Hey john, but wouldn’t using the discover card for every purchase make us use more than 30% of our available balance and thus damage our credit score?
Pay it off before the statement goes out and you're good
Yes. I pay my cards off weekly.
Credit usage doesn’t have memory so once u pay it off your next credit check/statement balance will show no utilization
Never spend more than you have and everyday, before bed, check your balance and pay it off.
John, so essentially the Discover IT has 2% cashback on all purchases in the first year?
Yes
2% on all purchases that give 1% initially, and 10% on all rotating category purchases that you received 5% on initially.
just got a student it card. 12 month 0% apr.
I get the strategy but pushing to spend 20k just to get $400 cashback is not worth it. You can use a 2% flat cashback card at that point or use other cards to maximize even more spend.
The card is literally meant as a first credit card
what about the student discover it card
I knew there was a reason I liked your content -- I too have two corgis
The video that made me sign up for a discover cash back reward card
like the way you present your videos
how many credit cards do you have?
Love it the bureau statistics , labor chart
Hey guys, I applied for this credit card, my first one, and it says after the 0% APR for the first 15 months, it'll be 28%. So now I'm kind of scared to activate it. Any suggestions?
Treat it like a debit card and pay it off on time every month and you will be good👍
is there a way you can make a power pint with all the important topics and facts 🤣
It’s not 1500 I thought it’s $75?
It’s 1500 spend each quarter to earn $75
@@Jonathan_Youngs ahh I understand now. I thought I was loosing out being capped at $75
@@Embrxceyourdemons No problem. I am going to fully max out this quarter by purchasing the iPhone 15 Pro Max with 256GB and upgrading my 13 pro max for $1,299 and pay 60% of the bill early.
LOLL. All the math is nice but it's not practical. You're living in a real world. No one is going to get a $33,000 discovery card limit. Most Discovery card holders are students without any credit history. Also, even if you were approved for that much money, I doubt anyone would spend that much on a Discovery card. Good on paper, but not realistic.
You don’t need a 33,000 limit to put that much spend on a card over the span of a year. If you paid your balance in full with each statement, you’d only need to have a limit of 2,750 and max out that limit every month for 12 months. No one is maxing out their limit like that, but even a modest credit limit of 3-4k could achieve this quite easily.
The Discovery IT card are made for first-timers, students, credit history re-building, and credit history builders. Most limit they will get is $5000 with +/- $1000. The rule is to stay under the 30% or 25% card utilization ratio. let's say you use $1000/$5000. $1000 x 12 = $12,000. UNLESS you're going to keep replenishing it every time you're knees deep, which is not ideal. @@sneakiertech
Yeah hate to break it to you my guy but you just aren't very good at math and dont understand how a revolving line of credit works🤣. 1) You don't need a $33,000 limit to make $33,000 in eligible purchases over the course of 365 days. If you analyze that number further, you'll realize that's less than $3,000 a month. 2) Credit lines are revolving not cumulative your credit limit is the maximum that can be spent at a time not all together meaning that paying your incurred balance will bring your limit right back up to its original amount. I'm an undergraduate student and first time credit card user who routinely spends well over $2000 on a $500 credit line. I technically "max out" my credit card 4 times in a month I spend $500 pay that off which resets my spending limit so I can spend another $500 and I keep doing that making sure my balance is either completely paid off or less than 15% utilization by the statement close date and never have issues I havent paid any interest to date. I have this process automated now so I'm not even manually making the payments. Next time just say you don't understand how it's possible to spend so much on a small limit rather than attempting to mock a concept you don't even comprehend.
"I'm an undergraduate student who routinely spends well over $2000 on a $500 credit line." - THIS LOLL. I stopped reading the rest of your comment. Thanks for the laugh. :)@@dominiqueg1639 Also, please refer to my above reply before you start commenting on someone's else response.
@@andysok06 Have fun with that 👍 Also try to advance you personality beyond the incredibly banal "debate me bro" reddit response. I believe in you. I'm sure you have a mature thought rattling around somewhere in that noggin of yours.🤣💀
Ay I saw my design
Stay away from this card. They will rip you off big time!!!!
#Bored
just got a Discover it card today ( 10.500 ) credit line
Just got my second Discover it card. No literature on if I got the 0 apr into tho
+100 signup bonus