Discover It - Can only redeem cashback in increments of $50, not minimum of $50.

[dndandrea]

I've had my Chase Freedom card for a couple of years now and always redeem my cashback by a check or direct deposit after I earn over $20. If i earn $26, I redeem $26. If I earn $34, I redeem $34. Discover's policy on redeeming cashback is terrible... Earn $78? Too bad, can only redeem $50. Earn $99? Too bad, can only redeem $50. Discover only allows you to redeem cashback in increments of $50. I had no idea until I had already signed up. Chase Freedom gives the card holder way more freedom on cashback options regarding check, direct deposit, or statement credit.

I'm assuming there's no way around this? So i'm assuming most people redeem the cashback through amazon or those gift cards and save $5-$10?

[lg8302ch]

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@dndandrea wrote:

I've had my Chase Freedom card for a couple of years now and always redeem my cashback by a check or direct deposit after I earn over $20. If i earn $26, I redeem $26. If I earn $34, I redeem $34. Discover's policy on redeeming cashback is terrible... Earn $78? Too bad, can only redeem $50. Earn $99? Too bad, can only redeem $50. Discover only allows you to redeem cashback in increments of $50. I had no idea until I had already signed up. Chase Freedom gives the card holder way more freedom on cashback options regarding check, direct deposit, or statement credit.

I'm assuming there's no way around this? So i'm assuming most people redeem the cashback through amazon or those gift cards and save $5-$10?

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You can redeem any amount if you buy something on Amazon. Just register the card there and pay with your cashback balance.  Another way is gift cards.

[Anonymous]

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@lg8302ch wrote:

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@dndandrea wrote:

I've had my Chase Freedom card for a couple of years now and always redeem my cashback by a check or direct deposit after I earn over $20. If i earn $26, I redeem $26. If I earn $34, I redeem $34. Discover's policy on redeeming cashback is terrible... Earn $78? Too bad, can only redeem $50. Earn $99? Too bad, can only redeem $50. Discover only allows you to redeem cashback in increments of $50. I had no idea until I had already signed up. Chase Freedom gives the card holder way more freedom on cashback options regarding check, direct deposit, or statement credit.

I'm assuming there's no way around this? So i'm assuming most people redeem the cashback through amazon or those gift cards and save $5-$10?

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You can redeem any amount if you buy something on Amazon. Just register the card there and pay with your cashback balance.  Another way is gift cards.

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So, if you have a spare $32 or whatever. You can go on Amazon and buy a $32 e-gift card and the system will take it?

[dndandrea]

Yes, you can use cashback as regular money on Amazon. You don't use it to buy amazon gift cards. Not everyone does their shopping on amazon though.

[keithB]

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@dndandrea wrote:

I've had my Chase Freedom card for a couple of years now and always redeem my cashback by a check or direct deposit after I earn over $20. If i earn $26, I redeem $26. If I earn $34, I redeem $34. Discover's policy on redeeming cashback is terrible... Earn $78? Too bad, can only redeem $50. Earn $99? Too bad, can only redeem $50. Discover only allows you to redeem cashback in increments of $50. I had no idea until I had already signed up. Chase Freedom gives the card holder way more freedom on cashback options regarding check, direct deposit, or statement credit.

I'm assuming there's no way around this? So i'm assuming most people redeem the cashback through amazon or those gift cards and save $5-$10?

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Just redeemed my 3rd $50 as a statement credit in the last 6 months. At first I was like you and it bothered me but I'm over it.

[yfan]

What everyone said is correct, but it's also true that neither the Freedom nor Discover IT offers the best redemption value with check/statement credit/Amazon. With Discover IT, the best option is redeeming through partner gift cards which can give you anywhere from a 20% to 100% boost on your cashback. With the Freedom, the best value is probably through UR point transfer to partners.