Discover Cashback Debit $360 Bonus

Discover Bank : Cashback Debit

Bonus Amount
up to $360
Account Type
Personal Checking
Available In Your Area?
Yes
Offer Expires In
N/A
Bonus Requirements
  1. Open a new Discover Cashback Debit checking account using the link below.
  2. Use your debit card each month to make $3,000 in purchases to earn $30.
  3. Bonus cash will be deposited into your account each month.
Other Details
Hard Credit Pull?
Monthly Fees?
Open Online?
Save for later
Share with a friend

Discover Bank has a cool twist on the old-fashioned debit card: cash back rewards. Open an account online, and they'll give you 1% cash back on up to $3,000 in debit card purchases each month, for up to $360 each year as a bonus to your normal spending.

How To Earn The Bonus

The Discover Cashback Debit promotion requires you to make purchases using the account's card in order to earn the $360 bonus. Full requirements to receive this bonus are:

  1. Open a new Discover Cashback Debit checking account using the link below.
  2. Use your debit card each month to make $3,000 in purchases to earn $30.
  3. Bonus cash will be deposited into your account each month.

The fine print

  • ATM transactions, cash equivalents like money orders, cash back on point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards.
  • Purchases made using third-party payment accounts (services such as Venmo® and PayPal®) may also not be eligible for cash back rewards.

Why Discover Bank?

Discover Bank is an online bank operated by the American financial services company, Discover Financial Services.

With almost 50 million cardholders, Discover is the third-largest credit card issuer in the U.S. In 2000, Discover acquired the Greenwood Trust Company and rebranded it as Discover Bank. While Discover is now fully an online bank, the company still owns and operates the original branch of The Greenwood Trust Company in Delaware, making it the bank’s only physical location.

Cashback Debit

Many confuse Discover as being just a credit card company, but they actually offer a host of banking products as well, including this checking account that puts a credit card spin on a traditional debit card: cash back rewards.

With this account, Discover will give you 1% cash back on up to $3,000 in debit card purchases each month, up to $360 each year. In addition, the account comes with absolutely none of the typical fees: monthly maintenance, insufficient funds, stop payment, check orders, or replacement debit cards.

Fees

Cashback Debit does not charge a monthly fee.