Discover Card: Earn Double Cashback at Amazon.com

2% Cash back at Amazon using your Discover CardThrough the end of 2011, Discover cardmembers will automatically earn double cash back (2%) on up to $250 in purchases each month at Amazon.com. Discover cardmembers who have a Miles by Discover or Escape card will earn double miles. There is no need to sign up for this promotion–cardmembers can simply use their Discover cards to start earning their extra rewards.

In addition, starting today Discover cardmembers can also use their Cashback Bonus to pay for their Amazon.com purchases by linking their card to their Amazon.com account. Since you’re only getting a 1:1 ratio of Cashback Bonus dollars to Amazon.com dollars, however, it isn’t the best redemption value. (Other gift cards offer a better exchange rate.) It does, however, offer a way to liquidate lower Cashback Bonus amounts, as there is no minimum redemption amount required when applying your Cashback towards an Amazon.com purchase.

PenFed Removes Foreign Transaction Fees From All Its Credit Cards

PenFedIn what seems to be a growing industry trend, Pentagon Federal Credit Union announced yesterday that it was eliminating foreign transaction fees from all of its credit cards. This move comes on the heels of the news that Discover is also set to drop its foreign transaction fees.

Previously, the only cards from PenFed that did not charge such a fee were The PenFed Premium Travel Rewards American Express Card and the PenFed Promise Card. Now, the fee has been eliminated for all of PenFed’s cards, including the excellent Platinum Cash Rewards Card, its Visa Gold and Visa Classic and MasterCard programs.

Removal of the foreign currency transaction fee is effective immediately for both new and existing cardholders.

Citi Increases Value of ThankYou Points When Used for Student Loan Rebates, Mortgage Payments

Citi Thank You RewardsIn a refreshing change from the norm, Citi recently increased the value of its ThankYou points when they are redeemed for student loan rebates or mortgage payments. Citi credit card members can now redeem Thank You points for a check towards either their student loan or mortgage at an exchange rate of 100 points per $1. For instance, 2,500 Thank You points can be redeemed for a $25 check.
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Existing Southwest Credit Card Members: Free 1,000 Points YMMV

Southwest Airlines Credit CardIn an effort to educate cardmembers on how to redeem their rewards points, Southwest is offering those who have its credit card 1,000 bonus points to watch a short video describing the process. At the end of the video (roughly 2 and a half minutes), you’ll be asked for your Rapid Rewards number and the last four digits of your credit card number.

Assuming your credit card account is open and in good standing, the 1,000 bonus points should post in 6 to 8 weeks. And while not everyone has reported success in getting the bonus points, it seems like the majority of cardholders are eligible, so it is definitely worth checking out.

Link (Via FW)

Priceline Rewards Visa: 2% Credit Card?

Priceline Rewards VisaWith the impending demise of the 2% Schwab card, there’s been a lot of scrambling to find a replacement. This post on FW describes a new targeted offer for the Priceline Rewards Visa that presents an intruiging possibility. This version of the card earns 5 points per dollar spent on “Name Your Own Price” Priceline purchases and 2 points per dollar everywhere else with no annual fee, a superior value when compared to the other publicly available Priceline credit cards.
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