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Discover savings account

2,295 Views | 12 Replies | Last: 5 yr ago by Jefe07
BenTheGoodAg
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AG
Is anyone using a Discover savings account? Right now they offer a $200 bonus if you have $25,000 in the account (or $150 for $15,000), plus 1.5% APY and no fees.

This looks like one of the best options for a savings account. Any catches I'm missing?

TIA
redag06
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Special offer to get this? I have a discover checking account, and would transfer some money around to get this.
Business Time
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Important to note the $25,000 doesn't have to be there all at once. You can transfer money in and out.
BenTheGoodAg
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It was an offer on our cardholder account, but there are other promo codes online, such as:

Nerd Wallet

You will probably have to scroll down to find it. I just googled Discover savings account bonus and several offers came up.

LeftyAg89
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just fyi Live Oak Bank has 1.7% savings rate.

LiveOakBank.com
kcag96
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CIT Bank is offering 1.55% on savings and 1.75% on money market accounts.

https://www.bankoncit.com/
sts7049
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I've got a couple accounts with discover, but I've had them for a few years now. no issues at all.
ktownag08
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They don't allow transfers from Navy Federal Credit Union so ended up being a deal breaker for me. Found that out after signing up.

Have CIT now and have been happy with it.
BenTheGoodAg
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I think the bonuses make the Discover account worth it short term, but some of the others for parking money for longer term.

Looks like savings rates are coming up. I wonder if we'll continue to see it with the rising Federal rate this year.

leoj
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Was thinking of using discover but also because of their credit cards
insulator_king
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kcag96 said:

CIT Bank is offering 1.55% on savings and 1.75% on money market accounts.

https://www.bankoncit.com/
I've just started using them the last month.

USAA has miserable rates on their savings account.

CapOne360 is behind CIT as well.
RightWingConspirator
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My Goldman Marcus account pays me 1.6 percent right now.
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Jefe07
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I've had a discover savings account since etrade sold them my account many years ago. It's the only account I've ever had with them. Pleasant experience. No issues at all.
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