When Does Discover Cashback Post?
There is no doubt that the Capital One takeover of Discover is approaching its final leg. Many of the old Discover cards have already been moved over to people’s Capital One logins. There are still a few out there left to be processed, and then Capital One needs to deal with the Discover checking and savings accounts etc. There has no doubt been some bad with this merger, especially if you were naughty with Capital One. I did notice something good with the changes though. It also answers the question, when does Discover cashback post?
RELATED: Why You Should Get A Discover Card RIGHT NOW!
How Discover Used To Handle Rewards
In the past Discover would always update your rewards, or cashback, once the statement cut. That included the 5% quarterly tracker on your account as well. That wasn’t as big of an issue for most, but it was kind of annoying not knowing where you stood at during the month. Once the statement settled you would see the appropriate cashback in your account and your tracker would be updated.
How Capital One Differs From Discover
Capital One has always posted their awards differently though. It is one of the things that I like best about the Capital One ecosystem. Your Capital One miles, or cashback, usually post to your rewards account as soon as the charge is settled. That means you can redeem your earnings before you even pay for the charge. I love being able to wipe off my travel charges with points earned (at least in part) from that travel charge just a few days after making the purchase. Something feels kind of wrong about that, in the best possible way!
When Does Discover Cashback Post Now?
I hadn’t really considered that there would be a change to when Discover cashback posts because of the merger, but it would make sense. They are completely different set ups after all, and Capital One would likely want to streamline things.
This past weekend I finally got to putting some work in on our four Discover card’s quarterly spending. We each have one Discover card still in our Discover login, and one in the Capital One login. Well, I was pleasantly surprised to see my Discover rewards balance shoot up on my Capital One login last night. The confusing thing was that my statement doesn’t cut for a few weeks.
That is when I realized that Capital One had transitioned the Discover program over to posting rewards to the accounts as soon as the charges settled. This is a nice improvement in my opinion. I was able to redeem the cashback from my Discover card on the spot too, and the tracker for the quarter was updated to reflect my spending so far – even before the statement cut.
Discover Rewards Improvement: Final Thoughts
This change to when Discover cashback posts is a minor one, but it is a nice improvement overall. It gets us our rewards much quicker, and it makes tracking our 5% quarterly spend a lot easier to handle. You no longer need to add up all of your individual charges during the middle of a statement period to see where you are at. Now, all we need is Discover cash back to become combinable with Capital One miles!
Let me know what you think about this change to when Discover cashback posts down below, or over in the MTM Facebook Group.
