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Earn up to $500 with your First Discover Online Savings Account

DDG
DDG

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Earn up to $500 with your First Discover Online Savings Account

Discover Bank is once again offering a signup bonus for their online savings account. This offer is available to anyone who has never had a Discover Savings account in the past.

Update 12/3/22: The offer is back and good until 12/30/22. Remember that the deposit doesn’t have to be all at once or all in the account at one time. HT: DoC

The Offer

Earn up to $500 when you apply for your first Discover Online Savings Account by 12/30/22 with promo code BONUS1122D. The $500 bonus may be targeted or YMMV, you will need to plug in the code to see.

To get the bonus you need to deposit a total of at least:

  • $15,000 into your account within 30 days to earn a $150 bonus OR
  • $50,000 into your account within 30 days to earn a $500 bonus

Promotion Page

Key Terms

  • This must be your first Discover Online Savings Account
  • Maximum bonus eligibility is $500 per account.
  • Account must be open when bonus is credited.
  • Bonus is considered interest and will be reported on IRS Form 1099-INT.

Analysis

Discover has run a similar promotion in the past. Yes, this money is taxable, but considering that you don’t have to keep the money in the account, you are earning a good interest in a very short period of time. But the account also has a decent 1.5% APY.

The total of $15K or $50K doesn’t have to be completed in one deposit and some have cycled the same money in and out of the account. It’s pretty straightforward and worth it in my opinion if you have the money available.

Conclusion

We see this bonus extended continuously. This is a good bonus if you have $50K to deposit into your new account. The bonus is available nationwide and can be easily opened online. Make sure the promo code is entered. Only those who have never had an account will be eligible.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
DDG
DDGhttp://dannydealguru.com
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

6 COMMENTS

  2. For Discover, if you had an account, are you forever barred from opening another account and obtaining a bonus?

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At Miles to Memories we share the best tips, tricks and deals plus travel rants, musings, hotel, airline and loyalty program reviews and a lot more! Our goal is to help people save money so they can get out there and travel the world! Through our various blog posts, podcasts & videos we teach others how to maximize loyalty rewards, hotel & airline programs and credit cards to achieve amazing things.

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