While the Platinum tag is a thing of the past, and the card goes with the $50 Cashback Bonus® name now, it retains all the privileges of the old Platinum card. You can probably get the most cash rebates and rewards with this credit card as long as you know how to use it properly. Compared to other credit cards in the market, the Discovery® More® Platinum Credit Card offers impressively high rebates in the following areas:

• 5% on home improvement stores, airlines, car rentals, hotels and cruises
• 5% and 20% rebates for over 100 stores online
• Double rebated for select, redeemed gift cards
• 0% introductory APR for purchases made on the first 6 months
• 0% APR for up to a year of balance transfers
• A rare 25-day grace period for payments
• Extra security (a separate card number issued for online shopping)

How the Regular Rebate Formula Works

It is important to note that this card is a tiered credit card, so your cash rebate will depend on how much you purchase with it. If you spend well enough, you can earn up to 2% cash rebate on all of your purchases. The rewards will be computed based on your annual expenditures. For every 1,500 yearly expenses, you’ll get a 0.25% cash rebate.

For $1500 to $3000 spent, you’ll earn 0.50% cash rebate. For expenses exceeding $3000, you earn an impressive 1% cash rebate.

Seasonal 5% Rebates for Specific Categories

The high 5% cash rebate will be applied to specific categories, depending on the calendar date. While they’re not applicable for all of your purchases throughout the year, if you buy from the right merchant at the right time, you’ll get to enjoy the cash rebate. For the first quarter of the year, you can earn 5% rebates on hotels, car rentals, cruises, and airlines.

During the second quarter of the year, you can enjoy 5% rebates on fashion retailers and home improvement stores. For the third quarter of the year, the 5% rebate is given for gas purchases, theme parks and hotels. Lastly, the fourth quarter’s 5% cash rebate can be earned through grocery purchases, movie tickets, and restaurant expenses.

Shop Discover Feature

The platinum cars also works as a Shop Discover® Card. This means that you can earn anywhere between 5% and 20% cash rebate whenever you purchase anything from participating online stores using the card. Make sure that you use your separate card number for security purposes whenever you’re doing some online shopping.

Take note, though, that you can log in to your Discover® More® account to shop with your card. Don’t go directly to the merchant’s website if you want to earn your points. Your credit card’s online account will let you navigate the same merchant pages, but transacting this way is more secure because Discover® More® can track your progress.

The list of participating stores will be given to you once you get this credit card.

Downside: This is not the card to use if you have a bad credit score. Just like its sibling, the Discover® More® Card Black, this is a credit card which rewards those who have impressive credit ratings. If you have a history of not paying your monthly dues on time, despite the generous grace period, this card won’t give you the best benefits.