Discover® Cashback Checking up to $360 Bonus

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Discover Bank : Discover® Cashback Checking

up to $360

4.3

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Availability

Ease

Amount

Fees

Expert Take

Unlike one-time bonuses, this offer from Discover is actually just a built-in feature of their checking account: cash back when using your debit card. Credit cards, particularly those with rotating or specialized categories, can often net more. But for those who are intentionally credit card free or for purchases that charge a premium for paying with a credit card, this can be a worthwhile alternative. We're also a big fan of Discover in general – they're consistently one of our top-rated banks!

Offer Expires In

Limited Time Offer

How To Earn The Bonus

  1. Open a new Discover® Cashback Checking account using the link below.
  2. Use your debit card to earn cashback – up to $30 can be earned per month (see website for details).
  3. Bonus cash will be deposited into your account each month.

Available in Your Area?

Yes

Monthly Fees?

No

Open Online?

Yes

Credit Pull?

Soft

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at Discover

Discover® Bank, member FDIC, 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. See website for details.

How To Earn The Bonus

The Discover® Cashback Checking promotion requires you to make purchases using the account's card in order to earn the up to $360 bonus (step-by-step breakdown is listed above!).

As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.

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.
  • See website for details.

How does this personal checking offer from Discover compare?

To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:

PNC

Virtual Wallet®

Bonus
up to $400
Account Type
Personal Checking
Expires In
43 days
Requires
  • Direct Deposit

TD Bank

Beyond Checking

Bonus
$300
Account Type
Personal Checking
Expires In
227 days
Requires
  • Direct Deposit

U.S. Bank

U.S. Bank Smartly® Checking

Bonus
up to $700
Account Type
Personal Checking
Expires In
39 days
Requires
  • Direct Deposit
  • Min Balance (optional)

Why Discover Bank?

Discover® Bank, member FDIC, 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.

Discover doesn't offer quite as many new customer incentives as some of the other big banks, but there's still free cash up for grabs. Plus, these bonuses are in addition to no monthly fees, high yields, and overall top-rated customer satisfaction.

Discover® Cashback Checking

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 (see website for details). 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

Discover® Cashback Checking does not charge a monthly maintenance fee.

Share Your Thoughts or Questions

There have been 13 comments about the Discover® Cashback Checking up to $360 Bonus.

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Ankit Jain

November 16, 2023

Discover has a better savings account offer of $150/$400 but is a once in lifetime offer. This checking offer is not the best one but could be beneficial for some.

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Carmen Cipolla

December 5, 2023 Replying to Ankit Jain

Does discover still offer this? I currently have a debit card through them so I'm interested.

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Jake

November 16, 2023

Discover has a good Savings Account Bonus. I would go with that instead of this bonus due to the high spending requirement. If you want to be rewarded for spending, try the Chase Credit Card suite of options. You can can get great travel discounts there and a high reward rate.

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John

November 15, 2023

As others have said, doesn't really seem worth it if you have a credit card that gives you better rewards.

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Ben

November 15, 2023

Not really a SUB. Kind of misleading to list it here.

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Michael

December 12, 2023 Replying to Ben

The website says banking bonuses, no where does it say sign up bonuses only. This is a banking bonus. I don't see how it's misleading to be here. The page is titled "Best Bank Bonuses and Promotions of December 2023" not Best Bank Sign Up Bonuses

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Jon Snow

November 15, 2023

This is a nice cashback offer for those that use debit cards.

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Lee Shaw

November 11, 2023

My Discover Bank Cashback Debit account has allowed me to earn a fair amount of cash back in the short period of time I've had my account open.

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Nicholas

November 3, 2023

This bonus doesn’t really seem worth it to me if I’m understanding it correctly. It’s basically just 1% cash back on debit card transactions; you can do better than that with any credit card. Maybe it’s good if there’s a place you can only use a debit card to pay with?

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mjonis

November 14, 2023 Replying to Nicholas

Yes, I'd agree with you that if you can't use a credit card, it's an OK deal. Verizon and T-Mobile are two entities that no longer offer their auto-pay discounts if you use a credit card. (thus, your bill could be $10-20/month more if you don't use a DEBIT card).

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Nicholas

November 15, 2023 Replying to mjonis

That's a good point. Xfinity also requires a debit card to get the full autopay discount, so that's a potential use of this.

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Avraham Kranczer

November 3, 2023

I just opened this account for a bonus and I was happy how easy they merged accounts with my existing Discover credit card

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Dylan Walter

November 3, 2023

Such a great bonus!! Bank Bonus has helped me find so many great offers.

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