Discover cashback can be redeemed for cash back at a rate of 1:1 or for a discount of 5% or more on different gift card brands. They now offer Walmart and Amazon gift cards for the 5% discount.
With Discover cashback, for example, a $200 Walmart e-gift card will cost $190. Any e-gift card from $5 to $200 is eligible for the discount.
There are also a lot of other brands with discounts of 5% to 10%, like Best Buy, Home Depot and Lowe’s.
About The Offer
- Save 5% when redeeming Discover Cashback Bonus for Amazon gift cards. Offer link
- Terms: Maximum $200 denominations
- Save 5% when redeeming Discover Cashback Bonus for Walmart gift cards. Offer link
- Terms: eGift cards only
Bottom Line
Unlike most other bank programs, the best way to use your Discover cashback is usually to exchange it for gift cards. This is because Discover gives discounts when you use your cashback to buy gift cards from a third party.
They’ve now added Walmart and Amazon as places to redeem. Discover’s website says that you get 5% more value, but you actually get a 5% discount.
More deals here
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.