Discovery Bank will be disruptive

Zoomzoom said:
In many cases yes.
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This used to be the case but it's illegal now.

Vrotappel said:
Don't know much about economics do you?

:)
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No, I think he's got a pretty good grasp out of things. The business will pass the costs of doing business onto the customer. This is the way it works. Where else is the money supposed to come from?
 
chri5tine said:
Hey, does anyone understand how the points to miles benefit works? I have 94 000 points right now, which means I'll be Gold next year. If I activate the benefit to get some (unknown number of) miles from these points, will I lose the points and therefore not be Gold next year?
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Only counts a max 50 000 points, for the conversion to miles. You lose the points either way, since we all start at zero from today
 
chri5tine said:
Hey, does anyone understand how the points to miles benefit works? I have 94 000 points right now, which means I'll be Gold next year. If I activate the benefit to get some (unknown number of) miles from these points, will I lose the points and therefore not be Gold next year?
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They have incredibly complicated benefit breakdowns I will give Discovery that. But my understanding is it is based on you vitality points for the previous year AND your spent on your card and looking at the examples have to be rather substantial. I spend 5k a month have 96000 points and are on diamond so will keep you posted on what I will get, rather curious myself.

Don’t worry, you start every year at zero and then have to make the points again to maintain your status so you will be gold but will have to get those points up again.
 
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whatwhat said:
If you still actually get those, and this isn't some made up story, report them to the bank whos card machine they are using. That is illegal.
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That market north of Pretoria ( Montana?) is famous for that. And they refuse to budge ... until you ask them for their details so you can report them. Then all of a sudden cc price is same as cash price.
 
The Visa/Mastercard signs they proudly display has some drawbacks.. had to explain that to a few places.
 
krycor said:
The Visa/Mastercard signs they proudly display has some drawbacks.. had to explain that to a few places.
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I actually should start to do it with the places displaying American Express paraphernalia and not actually accepting the cards...
 
How about being properly disruptive and giving crypto-currency options and to clients? like BTC-linked cards etc.
 
neoprema said:
How about being properly disruptive and giving crypto-currency options and to clients? like BTC-linked cards etc.
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What's a Bitcoin transaction cost nowadays.....? How well is it coming with volume?
 
Sinbad said:
What's a Bitcoin transaction cost nowadays.....? How well is it coming with volume?
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I didnt mean BTC specifically, there are many other cryptos with better trans fees etc.
 
manicminer said:
You're being naiive. Just saying. Every time you swipe your card the merchant pays minimum 6% premium per transaction. Guess who gets that expense passed on to them? Seriously naiive.
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Approximately 2% of people in all rewards programs participate actively and get rewarded handsomely. The other 98% don’t pay attention as to how to maximize the programs and therefore end up funding it for the 2%. I don’t think it’s fair to call whatwhat naive. It’s the 98% that are naive.
 
travelluminati said:
Approximately 2% of people in all rewards programs participate actively and get rewarded handsomely. The other 98% don’t pay attention as to how to maximize the programs and therefore end up funding it for the 2%. I don’t think it’s fair to call whatwhat naive. It’s the 98% that are naive.
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How abou yo back up those stats...
Remind us, who is at the end of the rewards chain just before the consumer?
 
Sadly I have no site to refer you to back up the stat. It was a stat that I got from a reliable source connected to Discovery. Not good enough in an online argument/discussion I admit. I’ll have to concede that you have won the argument and go back to booking my next free trip overseas with points and miles. Damn naïveté. When will I learn?!
 
I honestly do not think rewards are disruptive. It’s rewards.

Similarly slapping on various VAS is not disruptive.. it’s VAS.
 
Thanks but no thanks, I'll be cancelling my DiscoveryCard this week as every year they reduce the benefits. It only works if you buy into the ecosystem 100%, like most other reward schemes I suppose.
 
StrontiumDog said:
Thanks but no thanks, I'll be cancelling my DiscoveryCard this week as every year they reduce the benefits. It only works if you buy into the ecosystem 100%, like most other reward schemes I suppose.
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Who are you going with? Also considering cancelling with Discovery.
 
maumau said:
Who are you going with? Also considering cancelling with Discovery.
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More like sticking with FNB + eBucks (all my banking is with them anyways).
Both reward systems only work if you use all their products and spend only on their respective cards in the way that they want you to spend on them.

A few years back the DiscoveryCard benefits were still somewhat decent for even the casual user, but each year the cash back % is reduced and how one is eligible for that cash back is made more restrictive. I'd say in the last 2 years there is no point to their credit card unless one also subscribes to discovery miles, well especially if one was spending on other credit cards such as FNB.
 
Got a reply from Discovery that says

1. You don't lose the points (so it doesn't affect your Vitality status), and

2. You activate the benefit by activating the Travel booster benefit! (Which you do by going to "credit card", then "credit card benefits and rewards", then "boost your Vitality travel rewards", then "Activate").
 
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