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.
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.