Discover Credit Card News

Discover Credit Card News

On Monday, Discover announced that it will double cash rewards for new Discover it card members in their first year. Consumers who are eligible and apply for a Discover it credit card between June 1 and July 31, 2015 will automatically earn double the cash back rate. 

Currently, Discover it cardholders can earn 5 percent cash back on up to $1,500 in purchases made on home improvement in Quarter 2. According to their website's bonus cashback calendar, Q3 categories are titled "Summer Fun" and there's a picture of a fuel pump nozzle, so consumers can make of that what they will.

Discover Financial Services recently announced that it saw profits jump 36 percent in the fiscal first quarter as consumers both slashed delinquency and default and also began to use their credit cards more often, according to a report from the Wall Street Journal. In the latter case, the amount of money consumers spent on their Discover cards climbed 7 percent on an annual basis to a total of $25.6 billion in the three-month period.