Discovery Bank

twr said:
I've been wanting to downgrade from.platinum to Gold as the fees don't justify it, I think you need to deposit a certain amount into their free savings account ( i think it was R2000) can't remember, this will unlock your weekly goals, and then have a look at your goals when it appears, I had to eventually deposit R45000 to get do diamond status and mett their financial goals( assessing my debt risk home loan vs savings retirement etc) gave me.lpts of points and went to diamond Pretty quickly
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Odd: I transferred R2k into my savings account to unlock money goals and vitality money status jumped to silver, but also healthyfood and healthycare cashback jumped to 65%. I've not done any other transactions or spend on the account! Really don't understand how discovery bank works..
 
Damn. Spoke to the bank - because I've got an old-style Discovery Card, I can't keep that and take out a transactional account only with the Bank. Taking out a transactional account would force me to migrate my credit card. It isn't worth losing out on the miles multiplier.
 
riddler said:
Odd: I transferred R2k into my savings account to unlock money goals and vitality money status jumped to silver, but also healthyfood and healthycare cashback jumped to 65%. I've not done any other transactions or spend on the account! Really don't understand how discovery bank works..
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Question: with the dynamic discounts, is the cashback paid based on your discount level at the time of the transaction (for a healthyfood purchase at woolies for example) or your discount level at the time of the month when the cashbacks are paid out?
 
ros_b said:
Damn. Spoke to the bank - because I've got an old-style Discovery Card, I can't keep that and take out a transactional account only with the Bank. Taking out a transactional account would force me to migrate my credit card. It isn't worth losing out on the miles multiplier.
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Yip that's true but when does your old discovery (FNB) card expire?
 
riddler said:
Question: with the dynamic discounts, is the cashback paid based on your discount level at the time of the transaction (for a healthyfood purchase at woolies for example) or your discount level at the time of the month when the cashbacks are paid out?
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I think it's at current time.you do the purchase, so if I go on my app and see today I am.on 65% then when they do the payout in early may it will be based on 65%, if next month you drop to 50% then you'll get paid out in June at 50%

Unless I'm.missinformed

Remember they are moving away from.cash backs to payments in miles
 
twr said:
Yip that's true but when does your old discovery (FNB) card expire?
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May 2021. Not worth giving up the miles multiplier for one month's worth of points to miles. Max I'd earn would be R930 (R30 for 31 days). On the miles multiplier, I'm currently making between R150 and R250 per month.

As soon as my card expires, I'm heading over to the free Virgin CC. At R75pm for the Discovery card, that requires a monthly spend of R11250 in order to earn R75 (750 miles, at 1 mile per R15 spend - is that still the earn rate with the new card?). Mostly I'll use my TymeBank debit card (free) and earn SmartShopper points.
 
I got extra miles for steps
473785dbef9d86c8b3b050a37fe47914.jpg
 
Yeah I got 550 miles which is the amount of vitality points I did last week. So they paid a day early
 
twr said:
I think it's at current time.you do the purchase, so if I go on my app and see today I am.on 65% then when they do the payout in early may it will be based on 65%, if next month you drop to 50% then you'll get paid out in June at 50%

Unless I'm.missinformed

Remember they are moving away from.cash backs to payments in miles
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Thanks! One more question on this: do I have to use my Discovery bank card to pay for the purchase to qualify? (I normally use my fnb card to max out ebucks)
 
riddler said:
Thanks! One more question on this: do I have to use my Discovery bank card to pay for the purchase to qualify? (I normally use my fnb card to max out ebucks)
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Yip I think so and also swipe your dischem card and smart shopper (which you must link to your healthy food card) I still.swip.both just to be sure

I'm.not sure what happens if you use an FNb and then swipe your loyalty cards maybe you won't get the boosted cash back unsure but to be safe use your discovery credit card as that's what they say you must do to get the cash back
 
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