Discover Card Informative - Unethical Cashback bonus terms obfuscation
Discover touts its Cashback bonus as an "up to 1%" reward on all purchases, They conceal or obfuscate the terms of this program. The 1% terms do not begin until you have over $3000 in purchases for the year. Each anniversary you start at a tier level earning 1/4% on the first $1500 of purchases and 1/2% on the next $1500. The statements sent by the company do not clearly reflect the cashback compensation, but you must try to figure out their math yourself.
My problem is that no where on the Discover website can you find this information. From their wording or juxtaposition of words, they give the impression you get 1% on all purchases and their literature indicated you can get 2% cashback (by redeeming your money for selected gift certificates). I got this information from a third party source on the internet rating credit cards.
I just consider it unethical to hide the real terms of this program so that a consumer has to dig to get accurate information on their product. Having found out these hidden terms, I'll be less likely to use this card than if they were clear and upfront about their program. Caveat emptor.