When 5% Cash Back ISN'T

[cv91915]

New York Community Bank (under a variety of brands) offers a Discover Card with up to 5% cash back. That's awesome, right? "Up to" are the operative words.

 

When you read the fine print (and then get out Excel and some ibuprofen), here's what you really get:

 

 

It's not a bad 2% card if you only spend a little over a thousand a month, which is where the benefit is maximized. But it is NO 5% back card, nor anywhere close.

 

Card offer: https://www.firstbankcard.com/nycb/site/personal/products/discover/discover_card.fhtml

 

Fine print (rebate structure is in the second half, of course): https://www.firstbankcard.com/dynapp/DynamicApp?goterms=Y&Promotion_Code=84530

[nbipbm]

This a First National Bank of Omaha card, offered under their subsidiary, First Bankcard. I was really excited when I saw the 5% cashback, but like you, realised it was nothing of importance and am glad I read before applying.

[BobWang]

Man, he's bucking for promotion.

[cv91915]

Man, he's bucking for promotion.

I earned BI Grasshopper XI fair and square, but I was too late to become an Associate Turd Wrestler (which turned out to be dubious anyway). Not sure what would follow that...

[cv91915]

This a First National Bank of Omaha card, offered under their subsidiary, First Bankcard. I was really excited when I saw the 5% cashback, but like you, realised it was nothing of importance and am glad I read before applying.

Me too... People who don't have Excel or ibuprofen must fall for it, or they wouldn't promote it this way.