Discover it Card, Get a $100 Signup Bonus and Double Cash Back (Up to 10%) for One Year

discover card bonus

Discover it Card, $100 Signup Bonus and $100 Referrals

Discover currently has a $100 bonus for the Discover it card through referral links. The referrer will also earn a $100 bonus for every personal that signs up, up to $500 in referral bonuses annually. This is double the usual bonus of $50, but it is not showing up for everyone. Check your accounts and see if you are eligible to receive this increased referral bonus of $100, and also invite friends and family to earn a $100 signup bonus.

Offer

  • $100 Bonus: Receive a $100 Statement Credit after making a purchase that posts to your account within three months of account opening. You must apply through your friend’s referral link by December 31, 2021 in order to be eligible for the $100 Statement Credit offer. You will receive promotional award within 8 weeks.
  • Cashback Match: Discover will match all the cash back rewards you earn on your credit card through your first 12 consecutive billing periods or 365 days, whichever is longer, and add it to your rewards account within two billing periods. You’ve earned cash back rewards only when they’re processed, which may be after the transaction date. We will not match: rewards that are processed after your match period ends; statement credits; rewards transfers from Discover checking or other deposit accounts; or rewards for accounts that are closed. This promotional offer may not be available in the future and is exclusively for new cardmembers. 

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Card Details

  • Earn 1% Cashback (2% during first year) on every purchase
  • Earn 5% Cashback Bonus (10% during first year) at different places each quarter up to the quarterly maximum of $1,500 each time you activate.
  • No Annual Fee

Guru’s Wrap-up

We have seen this bonus in the past and it is the highest welcome offer for this card. It is only available through referrals and the person referring also gets a $100 bonus.

This is a great card to have in your wallet for the quarterly bonus categories where you can earn 10% during the first year, and 5% after that. Third quarter categories include Restaurants and PayPal and the fourth quarter gets even better with Amazon.com, Walmart.com and Target.com. That means that you can earn up to $150 cash back every quarter for the first four quarters, and a maximum of $75 after that.

11 thoughts on “Discover it Card, Get a $100 Signup Bonus and Double Cash Back (Up to 10%) for One Year

  1. Hmm…given that the terms say that they will double your cashback “through your first 12 consecutive billing periods or 365 days, whichever is longer,” wouldn’t that mean that you would get double cashback on 5 quarters if you apply before the end of the year? You could do your Q4 spend for this year before Dec 31st and your Q4 spend next year between 10/1/22 and the 365 day mark. Am I understanding this right? Getting another quarter of 10% at Amazon makes it a more valuable proposition.

  2. Does this only work if the person applying doesn’t have any Discover credit cards currently open? Or would it work if the person had a Discover It card but then was referred the Discover It Miles card?

      • Oh really? That’s great to know. My question though is regarding the bonus and is based on the reading of the fine print. It says, “Existing Discover cardmembers and those who have opted out of receiving market communications from Discover are not eligible referrals.” I’m wondering if I refer someone and they already a Discover cardholder (any card for that matter) will the referral bonus work? Or do they have to be a completely new Discover cardmember?

        • Oh i misunderstood the question.

          Yes you can get the bonus on a second card as well. I haven’t looked into it much recently, but that has been the case until 2-3 years ago at least. I would expect it to be the same now.

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