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Get some serious Discover rewards to redeem. Looked at the current gift card offers, it seems some of the $40 to $50, or $80 for $100 ones look good. The $20 for $40 car rentals are really good, but there are some concerns on insurance coverage etc. Anything else?
I think its a good idea to have a little stash of money.
I am getting 600+ from discover on their cashback match program on the 5th of december. I thought the same as you (what to do?) and I found that Discover offers a very competitive savings account. I opened that account a few months ago and plan to let it sit until I need the money. I have been depositing my monthly cash back into it already. Its accruing nicely. Maybe i will move it over to my IRA. Congrats on your bonus!!
I plan to keep the rewards as is. The best way it to get the discounted gift cards. Some are heavily discounted and you can only get them with Discover reward $$, not cash.
@Anonymous wrote:I think its a good idea to have a little stash of money.
I am getting 600+ from discover on their cashback match program on the 5th of december. I thought the same as you (what to do?) and I found that Discover offers a very competitive savings account. I opened that account a few months ago and plan to let it sit until I need the money. I have been depositing my monthly cash back into it already. Its accruing nicely. Maybe i will move it over to my IRA. Congrats on your bonus!!
Discover's savings account isn't really that competitive, currently 1.2% There are many at 1.3%+ and some at 1.5% Yes. much better than big banks traditional savings, but that's not the competition.
https://www.depositaccounts.com/savings/ has a good list.
I do Chipotle gift cards. I'd be shopping there anyway, a 10% discount is nice, and I'm not giving up any important perk (like return or price protection on clothes).
If I get a CSR, I may rethink this as my last few Hyatt redemptions have been good.
@Anonymous wrote:
I have the discover savings account, haven't gotten around to depositing money into it yet but I didn't even realize you could use the cash back for that, that's nice to know
Speaking of savings accounts though I actually just the other day noticed a comment on an old thread on here about one of DCU's savings accounts, and if I hadn't seen it on their website I might not have believed it - they offer an account with 5% interest on anything under $1000, which to me is absolutely incredible I don't think I've ever seen anything like that before, not even close
Yeah, there are a few credit unions that have some pretty good deals going on. Landmark is offering a checking account with 7.5% on the first $500 (with direct deposit) NFCU offers 12 month CD's at 3% up to $3,000.
NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC: $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $9.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $3.6K | BotW: $3K
Current FICO 8 Scores: EQ: 828| TU: 805 | EX: 814