It’s true. I am one among millions who save 5% with every gas purchase, regardless of where I pump my gas. Discover Card’s cashback bonus program is now offering 5% back up to $400 on every gas purchase you make from July 1st until September 30th. If you have a Discover Card already, log in to web based banking and simply sign-up for the ‘Get More’ program. It’s free and it’s literally as simple as clicking a button. If you don’t have a Discover Card, continue reading to learn why you should sign up for one now.

Simple Math

As you all may know, I am a big fan of simple math. I find it very useful to help emphasize a point. Take for example the following scenario. Gas is currently $3.00 per gallon and you fill your 15 gallon tank twice per week. That’s about $90 a week in gas expenses alone.

If we factor in the 5% cashback, the cost of gas will drop to $2.85 per gallon. Under the same conditions, you’ll be spending $85.50 per gas each week. While this hardly sounds like a deal, the extra $4.50 each week adds up. Within a few weeks, you’ll be receiving a free tank of gas for simply using a Discover Card instead of a debit card or cash. I don’t know about all of you, but I would take a free tank of gas any day.

Not Just Gas

Discover’s current cashback bonus applies to a number of other purchases as well. In addition to saving on gas, you’ll save an extra 5% on every hotel reservation, and admissions to theme parks, water parks, museums, aquariums, and zoos. This becomes very handy if you will be spending a lot of time doing recreational activities with your family.

Aside from 5% back, Discover also offers 1% back on every other purchase. Without the Discover Card, you’re simply spending extra money you don’t have to, granted you make your scheduled payments on time.

The Unfortunate, but Small, Catch

You need to earn $20 in cashback bonuses in order to make use of any of the money you have earned through the program. If you consistently use your card, earning $20 shouldn’t take you more than two months. From there, you can credit your account, request a check, donate to charity, or redeem for a gift card. Discover has over 80 popular partners that will turn your $20 into $25 or more for redeeming a gift card through them. That’s right, it’s essentially a free five dollar bill.

I’ve Tried It and It’s an Easy Way of Saving Money

I know what you’re thinking I’m crazy for saying you can save money by opening a credit card. As long as you make payments in full the month they are due, you will be saving plenty of money. I’ve had a Discover Card for almost a year now and I have always paid my card off in full each month. As soon as I make a purchase, I go home and transfer funds out of my bank account to my Discover Card. This allows me to get money back I would have spent otherwise using my debit card. As long as the credit card is used correctly, you can potentially save a lot of money. I use it, I save, and I highly recommend it.

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Join the Discussion

  • metabopharm

    Hate to quibble, but it’s not 1% cash back on other purchases. It’s UP TO 1% cash back on other purchases. In actuality, it’s more like 0.1%. I usee Discover for gas during the special bonus period, but I now prefer to use my ING Electric Organce debit card, because I get 1% cash back instantly –it’s immediately credited to your interest bearing account.

  • Linda

    It look like a good way to save. I approve it.

    Although there are rebate programs like “If you spend $1000 a month in whatever, I spend $900”

    That program would be more interesting. :)

  • Steve

    The $100 cap only applies to the Open Road card. You can still earn 5% back on all gas purchases up to $400 until September 30th.

  • sandebs

    There is a monthly $100 cap on gas purchases. You will only be able at most receive $5 a month in rebate. That means if you spend more than $100 in gas (auto) you will only receive 1% back in that month.
    Check the updated policy.

  • Sabrina's Money Matters
    Sabrina's Money Matters

    Don’t forget that you can actually build credit with a credit card, each month you could add up to 3 points to your credit score…if you do it right!

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