May 24th, 2008
Understanding the Discover Open Road Gas Benefit
A few years ago, I got the Discover Open Road Card because it offered 5% back on gasoline. As gas prices have continued to skyrocket, this card has become an absolutely vital part of my financial plan.
I thought I understood that the Discover Open Road paid a 5% Cashback Bonus (to use Discover’s terms) on up to $1200 a year of gas, so I used that for $1200 a year, and put the rest either on my American Express Costco TrueEarnings Card (3% rebatey coupon for Costco, awarded annually) or my Pentagon Federal Credit Union Platinum Visa (5% rebate credited to my bill monthly) which don’t have limits.
However, when I asked for an update on how far I was toward that $1200 limit, I got an interesting reply:
‘You will receive a full 5% Cashback Bonus Reward on the first $100 you spend each month on gas and auto maintenance purchases.’
I knew that I got the reward on auto maintenance, but I had absolutely idea that $1200 a year meant that I got 5% back only on the first $100 a month on gas.
Knowing that helps me figure out my spending much better! This month I’ve spent $99.26 toward gas on that card!
I also learned that things purchased at gas stations are considered gasoline purchases as well; this includes 7-11s and other convenience stores that are attached to a gas station, at least in my experience. Use this information to maximize your Discover benefit!
[...] ChelseasDownTown wrote an interesting post today onHere’s a quick excerpt A few years ago, I got the Discover Open Road Card because it offered 5% back on gasoline. As gas prices have continued to skyrocket, this card has become an absolutely vital part of my financial plan. I thought I understood that the Discover Open Road paid a 5% Cashback Bonus (to use Discover’s terms) on up to $1200 a year of gas, so I used that for $1200 a year, and put the rest either on my American Express Costco TrueEarnings Card (3% rebatey coupon for Costco, awarded annually) or my Pent [...]
Seems like a lot of work for $60 per year. Don’t you value your time more than that?
How much work is it to use the proper card at the proper time?
[...] need a third Discover card (I have a regular one I’ve used forever and a day and the Discover Open Road for 5% back on gas), but I figured one more wouldn’t hurt, so I applied and got the [...]
[...] Ryan Suenaga Uncommon Cents Understanding the Discover Open Road Gas Benefit [...]