Do you plan to open a Discovery Bank account?

Do you plan to open a Discovery Bank account?

  • Yes

    Votes: 44 19.9%
  • No

    Votes: 177 80.1%

  • Total voters
    221

SaiyanZ

Executive Member
Joined
Jun 5, 2008
Messages
7,572
Hold on, they're comparing you to "people like you". What exactly are "people like you" and how is that calculated? And "earned"? Really? That doesn't explain anything IRO how it's calculated. Without insulting you, I think that's marketing mumbo-jumbo.

The "people like you" is just the average of the other Discovery clients which have a similar profile. Probably age and profession related among other things.

How much he has earned is the sum of all discounts, cashbacks and rewards.
 

Daruk

Honorary Master
Joined
Jul 18, 2008
Messages
39,008
The "people like you" is just the average of the other Discovery clients which have a similar profile. Probably age and profession related among other things.

How much he has earned is the sum of all discounts, cashbacks and rewards.
So the rest of Discovery's clients are pillocks who can't use the system properly or don't know how? Not sure I follow.
 

SaiyanZ

Executive Member
Joined
Jun 5, 2008
Messages
7,572
So the rest of Discovery's clients are pillocks who can't use the system properly or don't know how? Not sure I follow.
It's an average. Some people will do better and some worse. That's how averages work.
 

Daruk

Honorary Master
Joined
Jul 18, 2008
Messages
39,008
It's an average. Some people will do better and some worse. That's how averages work.
So basically they're comparing their own clients - still no idea how they calculate the 'savings'. Marketing hype.
 

SaiyanZ

Executive Member
Joined
Jun 5, 2008
Messages
7,572
So basically they're comparing their own clients - still no idea how they calculate the 'savings'. Marketing hype.
I explained it above in a few words. Seems like you're just a clueless hater.
 

C4Cat

Executive Member
Joined
Nov 9, 2015
Messages
8,544
So basically they're comparing their own clients - still no idea how they calculate the 'savings'. Marketing hype.
You get points based on 'good behaviour' - the number of points you get dictates the discounts and rewards you get. That's why some people get more than others and thus get bigger discounts. So, for example, on my last trip to Jhb from Cape Town, I got a 25% discount on the cost of my flight. Someone with more points would get 35% discount. I get cashback when I buy healthy food (they have a list), discounts on fitness related stuff (up to 75% off the cost of a pair of running shoes, for example) and so on.
 

Johnatan56

Honorary Master
Joined
Aug 23, 2013
Messages
24,959
You get points based on 'good behaviour' - the number of points you get dictates the discounts and rewards you get. That's why some people get more than others and thus get bigger discounts. So, for example, on my last trip to Jhb from Cape Town, I got a 25% discount on the cost of my flight. Someone with more points would get 35% discount. I get cashback when I buy healthy food (they have a list), discounts on fitness related stuff (up to 75% off the cost of a pair of running shoes, for example) and so on.
I bet they don't factor in the cost of all the activation fees.
 

C4Cat

Executive Member
Joined
Nov 9, 2015
Messages
8,544
I bet they don't factor in the cost of all the activation fees.
I'm pretty sure most people do, actually - at least those who are actively trying to earn points. There aren't that many activation fees, a few, but you are paying a monthly fee of course. The major benefit for me is that it encourages me to work out and eat healthy food by rewarding me. Actually works pretty well for someone like me who is naturally disinclined to exercise
 

Johnatan56

Honorary Master
Joined
Aug 23, 2013
Messages
24,959
I'm pretty sure most people do, actually - at least those who are actively trying to earn points. There aren't that many activation fees, a few, but you are paying a monthly fee of course. The major benefit for me is that it encourages me to work out and eat healthy food by rewarding me. Actually works pretty well for someone like me who is naturally disinclined to exercise
No, I mean in the return graph, not what we ourselves calculate. I don't use the running shoes one for example, as I can find cheaper shoes elsewhere that are fine, so not worth it for me.
 

Daruk

Honorary Master
Joined
Jul 18, 2008
Messages
39,008
You get points based on 'good behaviour' - the number of points you get dictates the discounts and rewards you get. That's why some people get more than others and thus get bigger discounts. So, for example, on my last trip to Jhb from Cape Town, I got a 25% discount on the cost of my flight. Someone with more points would get 35% discount. I get cashback when I buy healthy food (they have a list), discounts on fitness related stuff (up to 75% off the cost of a pair of running shoes, for example) and so on.
I get it but my original point was that there's no such thing as a free lunch... Or are you suggesting the majority of Discovery clients fund those with extra time on their hands to find the savings?
 

Daruk

Honorary Master
Joined
Jul 18, 2008
Messages
39,008
I explained it above in a few words. Seems like you're just a clueless hater.
Really. You explained squat. Hahahaha. How does it compare to a competitor's product and why do you think you aren't paying for it is the question.
 

adielk

Expert Member
Joined
May 21, 2009
Messages
4,265
I get it but my original point was that there's no such thing as a free lunch... Or are you suggesting the majority of Discovery clients fund those with extra time on their hands to find the savings?
I just paid slighty above R1000 for return flight to CT. Thats a great price.

I get back 50% of my monthly fuel spend. My monthly insurance is competitive (I've checked the market and unless changed dramatically in last 3 years its not worse if the no claim bonus not factored in).

Gym free. The vitality rewards encourages me to pursue a fitter lifestyle.

Health checks.

Free movies for kids. Worth it.

Negatives ... yep fitness devices can be obtained way cheaper. No lump sum no claim insurance bonus. Discovery expensive.

Ultimately it encourages a healthier lifestyle. That is worth it, even if at a premium.
 

SaiyanZ

Executive Member
Joined
Jun 5, 2008
Messages
7,572
Really. You explained squat. Hahahaha. How does it compare to a competitor's product and why do you think you aren't paying for it is the question.
The concept is simple. Getting people to live healthier and drive better means lower claims. So they don't need to pay for it and Discovery can also offer lower premiums for the same benefits because the claims will be less than competitors.

The carrot on the stick are the rewards but the savings on claims more than makes up for it. Everyone wins.
 
Last edited:

Rouxenator

Dank meme lord
Joined
Oct 31, 2007
Messages
35,596
Not really, they are an insurance company and as you pointed out the lower the risk for them, the better. Now normally with insurance you pay less if you are lower risk. Why then do you have to pay EXTRA with discovery to get the benefits?
 

Daruk

Honorary Master
Joined
Jul 18, 2008
Messages
39,008
The concept is simple. Getting people to live healthier and drive better means lower claims. So they don't need to pay for it and Discovery can also offer lower premiums for the same benefits because the claims will be less than competitors.

The carrot on the stick are the rewards but the savings on claims more than makes up for it. Everyone wins.
I have no problem with that logic. It's their claims of 50+k savings that I question.
 

SaiyanZ

Executive Member
Joined
Jun 5, 2008
Messages
7,572
I have no problem with that logic. It's their claims of 50+k savings that I question.
100% gym discounts, free apple watches, free running shoes every year, Kulula flight discounts, cashback for healthy food spending, sports goods discounts, weekly Vitality Active rewards (smoothies, shopping vouchers, etc.)

It all adds up.
 

Daruk

Honorary Master
Joined
Jul 18, 2008
Messages
39,008
Not really, they are an insurance company and as you pointed out the lower the risk for them, the better. Now normally with insurance you pay less if you are lower risk. Why then do you have to pay EXTRA with discovery to get the benefits?
Because there's no such thing as a free lunch. People believe the marketing.
 
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