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What is the Best Way to Redeem Discover Cashback Bonus?

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I have been using my Discover card for almost all the purchases. Now, I have $501.02 in Cashback Bonus. You can redeem your reward starting at $20 Cashback Bonus.

There are many ways to redeem the Cashback balance, rewards categories include:

  • Statement Credit – Credit your Cashback Bonus to your Discover card account (at face value)
  • Cash – Make an electronic deposit to your bank (at face value)
  • Merchandise – with one of 100 partner companies and get free shipping
  • Partner Gift Cards
  • Discover Gift Cards – free shipping and no fees (at face value)
  • Charitable Donation – Donate to one of Discover card Charity partners (at face value)

Best Way to Redeem Cashback Bonus

Statement credits and direct deposits are only face value so skip those options if you can. When you choose get a Partner Gift Card you get a bonus $5, $10, $20 or double the amount. So every time you redeem $45 in rewards for a Macy’s or a Sears gift card you will get a $50 gift card in total. That is, $45 gets you $50 ($5 free). Redeem $80 in rewards for a Gap gift card you will get a $100 gift card in total.

Here’s a sampling of some of the bonus deals going on right now,

  • Alamo Rent A Car Discover Card eCertificate – $20 gets you $40
  • National Car Rental – $20 gets you $40
  • Universal Orlando Resorts – $80 gets you $160;  or $120 gets you $240
  • Samsonite – $40 gets you $80
  • Carnival Cruise Lines – $100 gets you $200
  • Celebrity Cruises – $100 gets you $200

Bottom Line: You’ll get more value for your money when you purchase Partner Gift Cards.

Discover is a great credit card to have as it offers 5% Cashback Bonus in rotating categories that change monthly like travel, department stores, gas, groceries, restaurants , etc and 1% cash back bonus on everything else.

Cashback Bonus can be redeemed easily online or by calling 1-800-DISCOVER.

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