Just a word of warning. We did this October 2010-February 2011 for a $500 cashback bonus. I was religious about making sure I met my benchmarks each month. On my statement in June 2011, I noticed that the $500 wasn't yet posted. I called and was told that I didn't meet my benchmarks for each required month. I made the customer service person add it all up, and she admitted that, yes, I did meet the benchmarks, but she couldn't do anything about it. I asked for her manager, and same thing, I met it, but they couldn't do anything about it. Talked to her superior who then changed the story, yes, you did meet the benchmarks, but you never called in to sign up . . . well, in fact I had written down the date, time, and person I spoke to when I signed up, so I provided her that information. She took my information and called me back two days later and told me that "because you have been such a long-time customer we will credit your account." As you can tell from the vent, I was a little irritated with the whole process and her final comment. But, I digress, I did get the $500 bonus on the very next statement.
Thus, moral of the story: write down who you talk to when you sign up and make sure you meet all of your monthly benchmarks.
Thanks, that felt good to vent.
That being said, I still LOVE my discover card and the cashback bonus program!