Update 1/2/25: Available again
Update 11/20/24: It’s up to $110 Swagbucks and 18,700 MyPoints now. I’m also seeing a Swagup for an additional 1,000 SB reward on the Discover offer. (Note: Withdrawing funds within the 1st month of account opening will result in SB being revoked.) Hat tip to reader Y
Update 11/10/24: It’s up to $90 Swagbucks and 15,300 MyPoints now. (another update: I’m seeing a Swagup for an additional 1,000 SB reward on the Discover offer).Withdrawing funds within the 1st month of account opening will result in SB being revoked
Update 10/31/24: Deal is back at $80 Swagbucks or 13,600 MyPoints. Slightly less than the high $100/15,000 we’ve seen in the past. (ht Paul)
Update 11/21/23: Available again. It’s 10,000 on Swagbucks ($100) and 15,000 on MyPoints (worth around $95-$100). Hat tip to Gerry. If you do MyPoints, you can also get an extra 2,000 (worth around $13) from this special bonus link.
Update 11/7/23: Bonus increased now to 10,000 on Swagbucks ($100) and 15,000 on MyPoints (worth around $95-$100).
Offer at a glance
- Maximum bonus amount: $50 Swagbucks or around $63-$67 MyPoints
- Availability: Nationwide
- Direct deposit required: None
- Additional requirements: Initial deposit of $50+
- Hard/soft pull: Soft
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None mentioned
- Expiration date: Unknown
The Offer
- Open a Discover Cashback Debit account and start earning 1% cash back on up to $3,000 in debit card purchases each month. Plus earn 5,000 SB (worth $50) after making your first deposit of $50 or more.
- MyPoints is offering 10,000 which is worth around $63-$67.
The Fine Print
- SB will appear as Pending for 32 days.
- Must deposit $50 or more into Discover Cashback Debit checking account to earn SB.
- Must be a new Discover Cashback Debit account holder.
Avoiding Fees
This account has no fees to worry about.
Our Verdict
We haven’t seen any sort of signup bonus for this account in many years. Some people like doing these smaller bonuses with a simple account signup deals and not much else in the way of requirements. This account some people also find useful for the 1% back on debit card spend.
You won’t get a 1099 from Discover for this bonus (though legally you would likely have to self-report this income). Note, however, there is a chance of getting a 1099 from Swagbucks if you cross the $600 earnings threshold, see this post to learn more.
Hat tip to reader bullmeister and USDR
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
On 11/25 I clicked through the Swagbucks 11,000 offer via the 1,000 point swag-ups link and opened up my checking account successfully. I didn’t get any points pending, and after a customer service ticket, they awarded me 11,000 points, but not the 1,000 points swag-up. I have opened a couple of tickets since then and have not received any response (positive or negative). It has been over a month since I put in the first ticket about the 1,000 points. Anybody suggestions how to escalate this or reach them to resolve?
I see 13,600 MPs, but credited 8K only.
Same here. Opened my account on Jan 6 with the 13600 MPs offer, but on Jan 8 only 8000 MPs were posted.
did MP give you the difference?
did MP give you the difference?
11/21 – signed up through MP
11/22 – deposit posted to Discover
12/23 – bonus posted to MP
Do you have to wait for the cash to post on the account to receive credit?
I somewhat successfully churned this through MP. Signed up for 18,700 points, did not track. I opened a ticket and they eventually credited me the full amount. I closed my last Discover checking in 2021.
Showing 8,000 SBs and 13,600 MPs for me.
same
same same
I would jump.on this if it was straight through discover without Swagbucks. Capital One and discover will merge meaning who knows if discover will offer anymore account offers.
Only 8000 SBs for me
I wonder if it is better to wait for a better offer from Swagbucks/MyPoints or jump in now and then churn later (if possible)
Personally I would pull the trigger. The only one that I would wait for a return on is the Discover Savings. That one is currently max of $200 but was as high as $400. This card comes in handy when places are now adding 3% fees to use a credit card. You can use this instead and at least earn 1%.
Any DP on whether an existing account could close and then reopen a new account? Saw one say they closed awhile back and got it on a new apply but wondering if there’s a time frame between. Ive had the checking and savings for a long time but never use them, should’ve closed sooner
Pretty sure it’s still once per lifetime, AKA: Unchurnable
If you are just going after the cashback from shopping portals, not any promotion directly offered by Discover, then it may be churnable (via different shopping portals) as the cashback is issued by the shopping portal. Need DPs to confirm though.