How to get even more money out of your Discover 5% cashback

A few days ago we wrote about the Discover it card and its 5% cashback. In the first 30 days since I’ve had the card, I’ve accumulated $29 in cashback just by using the card at restaurants alone. The easiest way to get your bonus is by simply redeeming it for a statement credit.

There is something else you can do in order to get an even better bang for your buck, which is redeeming your bonus for gift cards and gift certificates. For instance, a $20 cashback can be converted into a $40 e-certificate for most major rental car companies, so if you are in need of a rental car during an upcoming trip, this is an option you can consider. You can also redeem a $40 cashback for a $100 Hyatt e-certificate, or for $80 in a Carnival e-certificate.

Cash back offers

There are also plenty of restaurants and other retailers that you can get gift cards to for additional value.

So when redeeming your cashback, you should always think about your travel plans and consider whether this alternative is better for you for a better return on your money.

In the second quarter of 2013 there will be a different cashback bonus category as described in this article. Besides the 5% bonus, you also get a 1% cash back on every dollar spent on all other purchases.

You can apply for the Discover it card here.

 

Disclaimer: We do receive a commission if you are approved for this card using our referral link above. As always, thank you for reading and supporting our site. It is truly appreciated.

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