Save $100 on School or College Tuition -- or Shopping

The new special offer from Discover Card has been announced, and once again they are giving 5% cash back on tuition. The offer is from July 1 through September 30. (If you don't have tuition to pay, the offer is also good on an assortment of retailers, including Gap, T.J.Maxx, Dell, Office Depot, Pier 1 Imports, and a few others.)

Too bad you only get the 5% rebate on the first $2,000 you spend (the last time they offered this on college tuition, the limit was $3,000), but that's still $100 cash in your pocket. This time around, it can be anything from preschool to college.

Just make sure your student loans (or any other financial aid that's paid directly to the college) is not paid until after you pay $2,000 of the bill yourself. Don't apply till you are ready.

You can pay more than $2,000, but the amount over that will only get you the smaller, "normal" cash rebate, which varies but is 1% at most.

Later, when the financial aid proceeds arrive, the college will reimburse you directly for the excess. Then take that money and pay off the Discover Card bill completely! Do not spend it on anything else, and don't you dare let the balance carry over into another month. You lose a big part (or all) of the benefit if you have to pay interest on the credit card bill.