Discover Savings $100 Bonus Offer

discover savings bank bonus

Discover Savings is currently offering a $100 bonus for opening an account.

The Offer

$100 bonus when you open a new account with at least $15,000. Use offer code SAVE616B. Offer Link

Key Terms

  • Open by 7/29/16.
  • Fund by 8/12/16.
  • Offer not valid for existing or prior Discover savings customers.
  • Account must be open when bonus is credited.
  • Bonus will be credited by 9/12/16.
  • Bonus is considered interest and will be reported on IRS form 1099-INT.

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Last updated on December 20th, 2018

About Nick Reyes

Nick Reyes is a (fairly) regular guy with an animalistic passion for maximizing the value of miles and money to travel the world in comfort and style. There is little in life that he loves more than finding a fantastic deal and helping you shop smarter & harder to achieve your travel dreams.

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AllenB
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AllenB

Unfortunately “Bonus is considered interest and will be reported on IRS form 1099-INT.” kills it for me. Not enough bang for the hassle.

Rob
Guest
Rob

Something to also consider. One might have to earn $160.
to have $100. in your hand. Think about that.
# 2. All of your interest in your checking and saving accounts are tax-reportable NOW, you can’t get around it.
# 3. Probably your accounts are not earning .95 %. And you will earn the lower interest rate.
# 4. If you can fund part or all of the $15K with cc
you are earning more than $100.

SDO
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SDO

Any way to fund with CC?

Pradeep
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Pradeep

Another point to consider is that Discover Savings yield 0.95% APY compared to 0.01% from other major banks.

Ken
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Ken

Plenty of banks pay 0.95% and up. Barclays is 1% and UFB is more than that I believe. But it’s good because at least you won’t be forfeiting the interest you could have earned elsewhere.

JC
Guest
JC

Yeah but not plenty of banks give you $100 up front!
.95% is a pretty good value for a savings account and the $100 is more than what Barclays would give you for at least 13 1/2 years if you had the Discover the same amount of time at their present rates…Just the first year w/ 1% interest, BCY is only $7 ahead considering monthly compound.

charles ponzi
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charles ponzi

did iconsumer go belly up today?