New Discover Cashback Bonus More Card special in the Sunday paper

A new Discover Cashback bonus More card offer is included in the Sunday paper, more specifically in the coupon book section, on the back page of the SmartSource coupon booklet.

This new offer promises a $75 Discover Cashback Bonus if you make $500 worth of purchases within three months of being approved for the new card. That is great news, because it's like an affective 15% reward bonus on $500 of purchases. Where else can you get that kind of a bonus? :) The invitation code is DAMV.

You also have a 3.9% APR special that lasts until 2012 (twenty twelve) on balance transfers, and you earn 5% cashback bonus on select categories that change every three months. Be sure to note however that these 5% earnings are capped, you don't get unconditional 5% earnings in each quarter.

You do get unconditional 5% to 20% off your online purchases when you make them from the Discover Card website shopping portal. The percentages are usually higher on smaller, boutique type of shops, and lower on mass market retailers. As you can expect.

For all other purchases you receive the miserable up to 1% cashback bonus from Discover. Miserable because you start at 0.25%. That is really sad. Really. In a world where Citi is offering 5% and Chase 3% (effective 3.75% if you earn $200 in cash rewards and get the $250 bonus), and just about every other cash card starts at 1%, Discover insists on starting at 0.25%. Be sure to read the fineprint on this one as it gets twisted on what counts and what doesn't. You do "graduate" to 0.50% and 0.75% and 1% eventually though.