Discovery Card - Cashback to miles : the big ripoff

<p>Clients beware : if you were on Diamond status previously you would get 20% cash back at selected retailers. Now with the end of cashback and conversion to Miles you are only receiving about 1/4 the Rand value you used to get. There is simply no incentive to stay with Discovery Card. </p> <p> </p> <p>E.g.</p> <p> </p> <p>Before : R2000 purchase at Incredible and Diamond status would get you 20% cashback on qualifying spends i.e. R400 cash back.</p> <p> </p> <p>Now : R2000 purchase at Incredible and Diamond status you get 2000/15 = 133, then multiply by 10 for Diamond gives you 1333 Miles = R133.3 rands of value. </p> <p> </p> <p>As you can see from the above you are getting 1/4 the value you used to get. From 20% you now get 5%. Big ripoff from a company that keeps increaseing premiums and fees (even when you dont claim). I have confirmed the above generalised calculation with the Discovery Card Contact Centre.</p> <p> </p> <p>It seems like FNB ebucks is far more value for money and theres no fees - with Discovery you pay Miles fees and Vitality fees and yet you still get such low value for money with the new Miles system. </p> <p> </p> <p>This might be my last year with Discovery, the increased fees, high premiums and far less value for money. It's extremely difficult to maintain Diamond status with all the decreases in vitality points even and I have been on Diamond status for years. Many people I know personally are dropping Discovery products - no wonder. It's like they want their existing clients to leave.</p>