Did you know that you could earn 10% cash back on purchases from Amazon.com? It's true.
The Amazon credit card only gets you 5% and that's if you're an Amazon Prime member.
The Discover it Card gives you 1% cash back on all purchases and then offers 5% cash back on bonus categories that change each quarter. For the first year, Discover will double your cash back. That makes it 2% on all your purchases and 10% on the bonus rotating categories.
One of those categories is Amazon.com.
Here's the calendar for 2016:
- Jan-Mar: Gas & Ground Transportation
- Apr-Jun: Restaurants & Movies
- Jul-Sep: Home Improvement Stores & Amazon.com
- Oct-Dec: Amazon.com & More
The bonus categories will give you 5% cashback on up to $1,500 in purchases for that quarter. The first year doubling bonus makes that a whopping 10%. That's $150 of cashback possible each quarter. That's unheard of.
Do some of your holiday shopping early, or time shift Amazon purchases by buying Amazon gift cards in Q3 so you aren't constrained by the $1500 quarterly spending limit, and you could save a bundle this holiday season.
In addition to the cash back, which should make your eyes pop out, you get a bunch of other nice perks like a free FICO score, a 0% balance transfer for 12 months if you need it, and there's no annual fee. This offer is only for new cardholders though.