Monday, July 25, 2011

Discover the Possibilities


I'm using my Discover card for the majority of my wedding purchases, some medium things and some small things. Don't be alarmed! I knew I was going to do this in advance and came up with a plan. 

Around February/March I called up Discover to see about getting a more favorable interest rate. Prior to the call I made sure to pay off my balance and I didn't put any purchases on it for a month. 

Credit card companies are strange creatures.  They want you to use your card.  Since I wasn't using it for a month they were more interested in enticing me to use it. They gave me a promotional rate of 3.99% through the end of November which was perfect. 

The other good thing about Discover is that you get to earn cash back which can be redeemed for rewards. I've been racking up a lot of cash back which I've used to get gift cards. I can redeem my cash back for cash but gift cards are way better. 

Depending on the store you can redeem $25 and get a $30 gift card or redeem $40 and get a $50 gift card. Now of course this plan would've been way better if I could have gotten an even lower promotional rate but I don't think I did so bad. It's all about leveraging your buying power. Later on this week I'll let you in on which gift cards I'll be using.    


  1. Oh yes we use our discover card for all wedding related purchases and pay the balance off every month. We will use the cash back on our honeymoon. Its such a great perk!

  2. I'm doing the same thing with my Chase card. I wasn't even planning on getting a new card, but they make me an offer I couldn't refuse. Got to love free cash.


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