Discover doesn’t charge annual fees, so you may be surprised that they actually offer retention offers to certain card members.
What is a retention offer?
A retention offer is a special incentive that credit card companies like Discover offer to encourage you to keep your account open. While Discover doesn’t offer huge offers, they can be solid and even more rewarding than offers from banks like Chase.
Discover Bank is an online financial institution known for its range of banking products and services. Established in 1985, Discover Bank offers savings accounts, checking accounts, certificates of deposit (CDs), and various lending products such as personal loans and home equity loans. It is recognized for its customer-friendly approach, competitive interest rates, and lack of fees, making it a popular choice for individuals seeking convenient and rewarding banking options.
Historical Discover Retention Offers
Discover doesn’t offer retention offers for every card. You will have the best chance at a retention offer if you have the Discover it card.
Discover it Credit Retention Offers
- Earn an additional 3% cash back on up to $1,500 in spend for 6 months
- Earn an additional 3% cash back on up to $1,500 in spend for 12 months
- $50 statement credit
- 0% APR for 12 months
Other Discover Card Retention Offers
We haven’t found data points for Discover’s other cards. If you hold the Discover Travel Credit Card, Discover Gas & Restaurants Card, and/or the Discover NHL Credit Card and were able to get a retention offer, please let us know!
At first, it may be surprising to find out that Discover offers retention offers but they really are a great credit card company and value their customers. While Discover doesn’t offer huge retention offers like American Express, it is still worth your time to reach out to Discover’s customer service team if you’re considering canceling your card. There is a good chance they will offer you additional cash back or 0% interest for six to 12 months.
Have you gotten a retention offer from Discover? Add your experience below!