4 Facts Of The Cash Over Purchase Perk on The Discover Card
It had been quite awhile since I had used my Discover Card, but when I used it recently I noticed something different about the transaction. During the process, it asked me if I wanted cash back, much like the payment terminals do when you use a debit card. Not believing it would work, I pressed the button to get $20 back. Sure enough, the terminal spits out a $20 bill.
Once I got home, I did some internet research and found that this is indeed a perk of using Discover. Some other interesting points about using your Discover to get cash back:
There are no additional fees tacked on. There’s no fee for using an ATM, no bank fees, and no cash advance fee from Discover. If you were to go to an ATM to get a cash advance from your Visa, Mastercard or American Express, you might get hit with all three of these fees.
Purchase APR Applies
Getting a cash advance from a credit card usually means a higher interest rate. With Discover, the usual APR applies to any cash obtained as part of a purchase transaction.
Discover limits cash over purchase to $120 per day with no monthly limit. Retailers may, however, impose their own limits.
Not every retailer allows Discover users to get cash over their purchase amount. Some of the most well-known retailers that do include Walmart, Sam’s Club and Casey’s General Stores. The full list can be found here.
Using your Discover card to get cash back can be convenient and money saving for people who prefer to use credit cards for their purchases. If you need cash, you can save a trip to the ATM and avoid ATM, bank, and transaction fees.
How about you, Clever Friends, have you ever used the cash over purchase perk of a Discover card?