The Deal
- Save 5% when redeeming Discover Cashback Bonus for Amazon gift cards.
- Direct link to offer.
Key Terms
- Maximum $200 denominations.
Tips & Ideas
Unlike other bank programs, redeeming your Discover cashback for gift cards tends to be the best redemption option for your cashback. That’s because Discover offers discounts when redeeming your cashback for third party gift cards.
Having recently added Walmart as a redemption option, they’ve now added Amazon as an option too. Discover’s site says you get 5% added value, but it’s better than that because it’s a 5% discount. For example, 5% added value would mean redeeming $100 of your cashback would get you a $105 card which is a 4.76% discount. Instead, you get 5% off, so a $105 gift card would cost you $99.75.
Although this is the most straightforward way of redeeming your Discover Cashback Bonus for Amazon gift cards, this isn’t necessarily your best option savings-wise. For example, Discover gives a 20% discount when redeeming cashback for Nike gift cards. You could therefore redeem $100 cashback for a $125 Nike gift card. If you can resell that for 90%, you’d get $112.50. You could then use that $112.50 to buy an Amazon gift card, thereby getting even more value from that $100 of Discover cashback.