Discover Point Hoarding

[austinguy907]

For me it's just a piggy bank that I try to ignore for a rainy day.

Disco has about $240 in it and Amex I'm right at $175 this month.

Sure I could take it and throw it into checking for 2.5% APY but, just don't for whatever reason.  Part of it might be the challenge of not touching it like a savings account or meeting the next threshold level.  Maybe building it up for a better redemption for something later on like if I need a GC for something a bit more high end and get another 10-20% out of converting it.  

Now with my new accounts the whole purpose was to get them and use the $150 rebate against some purchases instead of hoarding them.  BOA was a quick turn around on redemption and Chase is dragging their feet until the statement cuts to hand over the cash.

[NRB525]

For many of the gift card redemptions, you leverage the Discover Rewards for 25% or more added value, beyond what that balance shows. I have redeemed some, such as an Applebee's meal redemption via the app, but keeping the $270 for some similar future "better deal".

Worst case, it is a nice fund if I decide to earmark it for some other future purchase. 

[Anonymous]

I'm hoarding my $250 in Discover Rewards (will be $300 or more before the end of July because of the restaurant's category!)

I'm holding onto it for the increased redemption value for gift card, or other things. It's worth more sitting there Compared to if I had it in my regular savings because whenever I need it I can use it for their deals.

[Anonymous]

For example: If I wanted a Bath & Body works Gift Card (we shop there at least 6 times a year), redeeming through Discover I could get one at a 20% Discount on Face Value ($20 for a $25 Gift Card or $40 for a $50 Gift Card). So to me personally it's worth it, and I can cash out any portion I want whenever I want.

[Anonymous]

I love using my Disco points for gift cards at 25% off. DW and I have one store we shop at every month so this gives us extra. 

[Anonymous]

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@Anonymous wrote:

Those that allow your CB to build up for long periods of time, I'm curious as to why you do so.  I've always seen it as giving the creditor an interest free loan.  I feel I could be doing more with a few hundred bucks than letting it sitting an an account as unclaimed rewards.  I'd like to hear from those that do allow their rewards to pile up though so I can understand different perspectives on this.

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I am doing it because I plan to treat myself to something fun that I normally would not buy after my first year when I get the additional points credit. And hopefully my points will pretty much pay it off.  ( on my discover )

I always use my cash back on my cap one card as a statement credit as soon as it hits. 

Those were my only CB cards until Chase Amazon which I am not sure if I will hoard or not. 

[Anonymous]

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@austinguy907 wrote:

For me it's just a piggy bank that I try to ignore for a rainy day.

Disco has about $240 in it and Amex I'm right at $175 this month.

Sure I could take it and throw it into checking for 2.5% APY but, just don't for whatever reason.  Part of it might be the challenge of not touching it like a savings account or meeting the next threshold level.  Maybe building it up for a better redemption for something later on like if I need a GC for something a bit more high end and get another 10-20% out of converting it.  

Now with my new accounts the whole purpose was to get them and use the $150 rebate against some purchases instead of hoarding them.  BOA was a quick turn around on redemption and Chase is dragging their feet until the statement cuts to hand over the cash.

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Learning a lot from you in this thread. GC stand for gift card? How does it get another 10 to 20? 
Boy I beter go clicking on links in my disco account to see everyhting looks like I miss out on benifits I did not know about because I never have.

[Anonymous]

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@NRB525 wrote:

For many of the gift card redemptions, you leverage the Discover Rewards for 25% or more added value, beyond what that balance shows. I have redeemed some, such as an Applebee's meal redemption via the app, but keeping the $270 for some similar future "better deal".

Worst case, it is a nice fund if I decide to earmark it for some other future purchase. 

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Okay yup def more research for me

[Anonymous]

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@Anonymous wrote:
For example: If I wanted a Bath & Body works Gift Card (we shop there at least 6 times a year), redeeming through Discover I could get one at a 20% Discount on Face Value ($20 for a $25 Gift Card or $40 for a $50 Gift Card). So to me personally it's worth it, and I can cash out any portion I want whenever I want.

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Okay this clears it up a bit for me...must be in disco deals? I should have read everyones responses before asking about the gift cards

[austinguy907]

It's ok CG.... You'll do fine as long as you try to keep up.  We lend a hand whenever we see someone in need.  Just keep following and you'll get up to speed pretty quickly.

GC gift card 

DD disco deals

DD + GC = more value 

Similar to using your UR's if you have Chase or some of the shopping portals like Ebates / Southwest RR's / Amex offers / others

It's only as complicated as the CCC's make it though