November 2023 at Discover Bank: A Glimpse Into New Promotions, Bonuses & Privileged Offers

When you think of accounts provided by Discover, you likely think of Discover Financial Services, a company most well-known as a credit card issuer. That company is also the parent company of Discover Bank, Member FDIC, an online banking service that’s well worth looking into.

Today, the company offers a wide range of online banking services alongside its credit card offers. Read on to learn more about current Discover Bank promotions valid for existing or new accounts. Be aware that many deposit account bonuses have varying expiration dates.

Discover Credit Card Bonus Promotions

Discover Bank bonuses aren’t limited to deposit accounts. Discover offers several credit cards, each with its own bonus and rewards program. No Discover Bank offer codes are needed for these offers.

Discover it® Miles: Miles Match Bonus for the First Year

With the Discover it® Miles credit card, you’ll get a miles match bonus for your first year of account membership. That means that Discover will double every mile you earn in your first year.

Here are the details:

• Cash value: Variable — about $0.01 per mile
• Minimum spend to qualify: $0.01
• Expiration date: Not posted
• How to get it: Open a new Discover it® Miles credit card and use it. You’ll get 1 bonus mile for every mile you earn in the first 12 billing periods.
• When you’ll get it: Within two billing periods
• Terms and conditions: Discover will not match rewards transfers from other Discover accounts or statement credits
• Fees: No annual fee
• Promotion Page: Miles Match offer

Credit Card: Cashback Match Bonus for the First Year

With the Discover it® Cash Back credit card, you’ll earn 5% cash back on different categories each quarter and unlimited 1% cash back on all other purchases. You’ll also get the company’s Cashback Match bonus for your first year of card membership, doubling the cash you earn. Here’s how it works:

• Cash Value: Variable — the bonus value is equal to the standard cash value you earn in the first year.
• Minimum spend to qualify: $0.01
• Expiration date: Not posted
• How to get it: Open a new Discover it® Cash Back credit card and use it. You’ll get double the cash back for the first year. 
• When you’ll get it: Within two billing periods after the end of your first year
• Terms and conditions: Discover will not match rewards transfers from other Discover accounts or statement credits.
• Fees: No annual fee
• Promotion Page: Cash Back Match offer

Discover it® Secured Credit Card: 2x Cash Back for the First Year

With the Discover it® Secured Credit Card, you’ll receive 2% cash back on up to $1,000 in combined gas station and restaurant purchases and 1% cash back on all other purchases. Discover will also match your first year’s cash back dollar for dollar, earning you double the rewards.

• Cash Value: Variable — the bonus value is equal to the standard cash value you earn in the first year.
• Minimum spend to qualify: $0.01
• Expiration date: Not posted
• How to get it: Open a new Discover it® Secured credit card, make a refundable security deposit of at least $200, and use the card. You’ll automatically get double the cashback for the first year. 
• When you’ll get it: Within two billing periods after the end of your first year
• Terms and conditions: Discover will not match rewards transfers from other Discover accounts or statement credits.
• Fees: No annual fee
• Promotion Page: Cash Back Match offer

Discover it® Chrome for Students: Unlimited Cashback Match in First Year and Refer-a-Friend Statement Credit

The Discover it® Chrome for Students card gives students an opportunity to earn rewards while building credit. Members receive 2% cash back on a maximum of $1,000 in total gas station and restaurant purchases and 1% cash back on all other purchases. Discover will automatically match your first year’s rewards, no minimum purchase required.

• Cash Value: Variable — the bonus value is equal to the standard cash value you earn in the first year. The refer-a-friend statement credit ranges from $50 to $100.
• Minimum spend to qualify: $0.01
• Expiration date: Not posted for cash-back reward; refer-a-friend referrals must be approved by Dec. 31, 2023.
• How to get it: Open a new Discover it® Chrome for Students credit card and use it. You’ll automatically get double the cashback for the first year. For the refer-a-friend statement credit, refer a friend using the link provided in the offer.
• When you’ll get it: Within two billing periods after the end of your first year or after the referral is approved
• Terms and conditions: Discover will not match rewards transfers from other Discover accounts or statement credits.
• Fees: No annual fee
• Promotion Page: Cash Back Match offer

Discover it® Chrome Gas & Restaurant Credit Card: Unlimited 2x Cash Back in First Year

The Discover it® Chrome Gas & Restaurant credit card rewards you with 2% cash back on up to $1,000 in combined purchases at gas stations and restaurants and 1% cash back on all other purchases — plus a low introductory annual percentage rate.

• Cash Value: Variable — the bonus value is equal to the standard cash value you earn in the first year.
• Minimum spend to qualify: $0.01
• Expiration date: Not posted
• How to get it: Open a new Discover it® Chrome Gas & Restaurant credit card and use the card. You’ll automatically get 2x cash back for the first year. 
• When you’ll get it: Within two billing periods after the end of your first year
• Terms and conditions: Discover will not match rewards transfers from other Discover accounts or statement credits.
• Fees: No annual fee
• Promotion Page: Cash Back Match offer

NHL® Discover it® Credit Card: Double Cash Back in the First Year

The NHL® Discover it® credit card gives you 5% cash back on different categories of purchases each quarter, up to the quarterly maximum when you activate. In addition, Discover will double your first year’s cash back rewards.

• Cash Value: Variable — the bonus value is equal to the standard cash value you earn in the first year.
• Minimum spend to qualify: $0.01
• Expiration date: Not posted
• How to get it: Open a new Discover it® NHL credit card and use it. The 2x cash back bonus reward is automatic.
• When you’ll get it: Within two billing periods after the end of your first year
• Terms and conditions: Discover will not match rewards transfers from other Discover accounts or statement credits.
• Fees: No annual fee
• Promotion Page: Cash Back Match offer

Expired Discover Savings Account Bonuses

Though there are currently no Discover unexpired bonuses, this may be subject to change at the bank’s discretion. With Discover CD offer codes or money market account offers, you can find some great bonuses that will be credited straight to the eligible account (the eligibility is based on the primary account owner).

How To Open a Discover Credit Card or Bank Account

Discover is an online bank with no physical branches, so you won’t be able to walk into a branch and open an account. Nonetheless, opening an account is a relatively easy process. Follow the steps below to get started. 

Step-By-Step Guide

1. Go to Discover Bank’s website and compare your account options.
2. Find the type of bank account you’d like to open and click “Open Account” or “Apply Now” on the product page. You can also click the link in the top-right corner of the Discover Bank Home Page and choose the type of account you’re interested in from the drop-down menu. 
3. If you’re a new customer, click the “Continue” button under the “New to Discover?” heading. If you’re an existing customer, click the “Continue” button under the “Already a Discover customer?” heading to speed up the application process.
4. Fill out all required information. This includes your name, Social Security number and other personal information. 
5. Fund your new account if you’re opening a bank account or a secured credit card account. If you’re not ready to add funds at the moment, you can do this later. 
6. Check your email. If you’re required to complete any additional steps, Discover Bank will email them to you.

Final Take To GO: Is Discover Bank Right for You?

If you’re looking for a traditional checking account, Discover may not be the best option because you can’t make cash deposits at a branch office. However, if you’re looking for a way to earn meaningful returns on your savings and take advantage of Discover Bank bonus offers while you’re at it, this bank may be just the right fit. 

More on Discover Bank

• Discover Bank Review
• Discover Bank CD Rates
• Discover Bank Routing Number
• How To Avoid Discover Monthly Maintenance Fees
• How To Do a Balance Transfer With Discover
• How To Request a Discover Credit Line Increase

Caitlyn Moorhead and Daria Uhlig contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on promotions is accurate as of Nov. 3, 2023. Additional requirements may apply. Offers and terms are subject to change.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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