Discovery Bank

amabacha

amabacha

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Joined
Oct 1, 2007
Messages
356
I am Gold status on Platinum Suite. My earn rates range between 1% and 3.333%

Given that Discovery has said it wants to promote "responsible spending" I think the information below the earn rate is also important to note into how possibly the earn rate shifts?

So my first transaction in October is fuel at Shell for R809.30 for which I earned 27 D Miles

- Spend threshold before calculation: R0.00
- Spend threshold after calculation: R809.30
- Spend threshold reached: no

I still have to look back at previous months transactions but it seems you earn a better rate until you reach the "spend threshold" and then the earn rate drops
 
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citizensa

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Joined
Aug 8, 2010
Messages
1,023
amabacha said:
I am Gold status on Platinum Suite. My earn rates range between 1% and 3.333%

Given that Discovery has said it wants to promote "responsible spending" I think the information below the earn rate is also important to note into how possibly the earn rate shifts?

So my first transaction in October is fuel at Shell for R809.30 for which I earned 27 D Miles

- Spend threshold before calculation: R0.00
- Spend threshold after calculation: R809.30
- Spend threshold reached: no

I still have to look back at previous months transactions but it seems you earn a better rate until you reach the "spend threshold" and then the earn rate drops
Click to expand...

Your earn rate is between 0.33% and after you hit your cap of 15000 it’s 0.1%
 
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Sphinx21

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Joined
Jul 13, 2018
Messages
186
beefymoocow said:
Does anyone want to pay me with discovery miles. Lol I wonder if I will get actual cash or miles to use?
Click to expand...
Imagine if they start giving us reward/redemption discounts like eBucks and we can trade these miles so freely! At this rate, I could see a future where they sell these miles at a certain price too. It's clear they want to make it more like a fungible currency.
 
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Sphinx21

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Joined
Jul 13, 2018
Messages
186
The part that really makes me want to weep is that at today's exchange rate, the iPhone 11 is just R10 000 and some change in the US. Can't they just get these directly from Apple, without the iStore premium
 
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inkos

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Joined
Sep 24, 2019
Messages
115
citizensa said:
Yes that’s correct for Diamond suite.You will notice that similar spend at different times of the month has earned miles differently due to cap being reached etc.
Now this earn is not going to be much but all dynamic boosted discounts with bank like healthy food, healthy care, Healthy Gear and Fuel cash back us going to be paid in miles so it’s gonna add up quickly.
Click to expand...
Let's hope and see. So far so ****
 
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twr

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Oct 14, 2008
Messages
1,934
beefymoocow said:
They must of changed this recently because in July they said on their website you will get a mile for every 15 rand you spend for black cards and 1 mile for every 20 rand you spend for other cards.
Click to expand...
Yes I remember seeing this and now its changed.

So is it only next year where we can redeem miles on the money points like 25 points for Vida eg or the 40 on Kauai smoothies? I can see you can generate a QR code to spend your miles
 
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ReXeL25

Member
Joined
Jul 1, 2019
Messages
10
Got my Iphone yesterday. It's a very quick easy process at the IStore. It was the first time they had to do it and they were able to complete the transaction in less than 5 minutes.

719862
 
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Maximus03

New Member
Joined
Oct 2, 2019
Messages
4
Spoke to a Discovery Bank consultant now, she is clueless around the model as well. We will apparently get feedback before the end of the week in terms of how it actually works etc. but I have also only received base miles which are pretty much nothing without the multipliers even with me being on gold money status and diamond health........
 
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twr

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Oct 14, 2008
Messages
1,934
Maximus03 said:
Spoke to a Discovery Bank consultant now, she is clueless around the model as well. We will apparently get feedback before the end of the week in terms of how it actually works etc. but I have also only received base miles which are pretty much nothing without the multipliers even with me being on gold money status and diamond health........
Click to expand...
I agree without miles.multiplyer I have lost interest in dMiles.
 
ies87

ies87

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Joined
Jul 3, 2019
Messages
475
Does anybody know if trade-ins are offset against the iPhone benefit? I know the iPhone is funded in full from available credit and rebated monthly based on goals achieved, but what happens to the trade in value? I can get R11,500 from iStore for my current phone and they don’t do cash payments anymore as far as I know...
 
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Koosvanwyk

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Joined
Aug 6, 2015
Messages
1,050
abudabi said:
b


But the answer to your exquation is 167.5. Or is that a rand/miles conversion.
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Agree with you. My earn rate is 6.67% and not 0.67%. Black suite on diamond money status. It is pretty simple to check, the app tells you the earn rate. I earned 223 miles on a R3347 transaction yesterday, that gives 6.67% and not 0.67%.
Converting miles to R (divide Miles by 12 I think) results is an effective R19 which means I get back 0.55% back on the R3347 spent
 
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Koosvanwyk

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Aug 6, 2015
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amabacha said:
What changes if you reach Diamond status? Earn rate or cap/threshold?
Click to expand...
I exceeded R15 000 spend level last month and my earn rate remained at 6.67% for transactions after exceeding R 15 000 spend. Diamond status black suite.
 
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citizensa

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Joined
Aug 8, 2010
Messages
1,023
Koosvanwyk said:
I exceeded R15 000 spend level last month and my earn rate remained at 6.67% for transactions after exceeding R 15 000 spend. Diamond status black suite.
Click to expand...
0.67% is the rand earn rate as miles are valued at 10:1
Limit on the black suite is 25000 that’s why you continued on higher earn
 
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