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Discover Bank Offers $50 Bonus

Posted in Bank Deals & Bonuses by RateRunner
February 17, 2009 09:32 PM - 5 Comments

Open a new CD account online at Discover Bank and you could qualify for a $50 credit.

To qualify, all you have to do is sign up by Feb. 28 and enter Offer Code “D100744″ on the online form.

Then you must follow through by depositing at least $10,000 in new funds by March 15, and leave that money on deposit for at least 90 days.

Your $50 bonus will be credited to your Discover Bank account four to six weeks after the 90-day period. The offer is limited to one per customer and is not applicable for accounts opened via phone or mail.

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Comments (5)
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5 Existing Comments

  1. marketsense said:
    on February 17th at 11:49 pm

    Interesting offer. I have cash that I want to use for a down-payment for a house and I want to earn on that money while I decide whether to buy or not.

  2. Craig said:
    on February 18th at 04:22 am

    I don’t think the bonus + the current APY makes this an attractive offer. Current savings accounts offer 2.5 % and the Discover 3 month CD is only 1.25% plus you have to tie up $10,000. I think $50 over 3 months (on $10k) equates to roughly .17 % making it 1.42% for 3 months. I’d say pass this one up.

  3. BankVibe said:
    on February 18th at 06:36 am

    This only way this deal makes sense is to invest in the 1 year CD at 2.75% by depositing the minimum amount required to receive this bonus, which is $10,000. The $50 bonus is essentially an additional 0.50% APY right off the bat with a 10k investment.

    In the above scenario we are looking at a 1 year CD with a 10k deposit yielding an APY of 3.25%. If you then look at bankaholic’s CD rate charts and sort by highest APY you will see that this 3.25% beats any other offer.

    If you are looking to drop a lot more than 10k in this bank deposit offer then your $50 bonus is going to shrink in relevancy.

    BankVibe.com covered this deal a little while ago…

    http://bankvibe.com/discover-banks-12-month-cd-plus-5000-bonus/

  4. BloggingBanks said:
    on February 18th at 12:54 pm

    I would listen to BankVibe on this one and only go after the bonus if you purchase a 1 year CD with no more than $10K.

  5. Dollar Bill said:
    on March 20th at 04:38 am

    Most people will not be able to receive this offer.

    YOU CAN ONLY HAVE ONE DISCOVER ACCOUNT PER CUSTOMER! AND THEY PULL YOUR CREDIT BUREAU ANYWAYS (HARD INQUIRY)!

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