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Redeem Discover Cashback Bonus For Valuable Gift Cards For Maximum Redemption Value

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A friend of mine recently told me he has over $1,000 in his Discover’s Cashback Bonus account that has been accumulating for several years. Some people like to redeem whatever cashback bonus they earn through their credit card expenses immediately but others, like my friend like to hog them and let it accumulate until they are ready to redeem. One way to redeem Discover’s Cashback Bonus is to credit it to your Discover Card account to help pay down whatever outstanding balance you may carry. Another way is to just direct deposit the balance to your checking account. It’s a 1 to 1 redemption value so essentially, you receive a 1% cashback bonus on your Discover Card expenses (minus quarterly 5% categories and ShopDiscover earnings). These methods are not bad but you can do better, MUCH better!

When you redeeem your Cashback Bonus for Discover’s partner gift cards, the value for your dollar increases drastically, onwards up to 200% more. For example, for $40 of Cashback Bonus, you can receive a $100 Hyatt gift card. That’s 2.5x the value and essentially turn your cashback bonus from 1% to 2.5% for using your Discover card. If you have plans to go on a cruise any time soon, you can redeem your Cashback bonus for Carnival Cruise Lines gift cards. That redemption value is 2 times so for $60, you will receive a $120 Carnival gift card. There are countless other partner gift cards available for redemption so log onto your Discover account and check it out.

If you don’t have a Discover credit card, you can sign up for the new Discover it® card. It carries no annual fee and you can take advantage of the quarterly 5% categories that changes every three months. This card replaces the previously branded card, Discover More. Just click on the icon below to apply.

For your convenience, I’ve already done your homework for you and listed out all of the high redemption value partner gift cards. This list is accurate as June 10, 2013 so please do your own diligence as the redemption value changes on a regular basis without prior notification from Discover.

 


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