You can redeem your rewards as statement credit, bank account deposits, gift cards/eCertificates, charity donations, or to use it as payment on Amazon.com and Paypal.
The cashback bonus never expires.
The cashback bonus can be redeemed any time, in any amount starting with 1 cent (for statement credits, bank account deposits, Amazon.com and PayPal payments or charity donations). Gift cards and eCertificates options start at $20.
Redemption of cashback may not be available for approximately 48 hours if your card is lost or stolen.
Once your new account is approved (as of February 2021), Discover matches the cashback you earn during the first year. So if you earned $200 during the first 12 months, Discover will throw in another $200 for a total of $400.
You can redeem your cash back by logging into your Discover online account or calling Discover at (800) 347-2683.
The best Discover card for cash back is the Discover it® Cash Back as it offers up to 5% in quarterly rotating categories, up to the quarterly maximum when you activate. But different Discover cards have different cash back offers, so it's best to check out the full terms and conditions of the one you own, or want to apply for.
Yes, you can get cash back on your Discover credit card, in the form of statement credit. You can also deposit any amount to your bank account.
To do this, sign in to your Discover account, click on “Rewards” and then on “See All”. Select “Redeem Cashback Bonus” to be redirected to the redemption page where you can see your balance.… read full answer
There is no Discover cash back limit to what you can earn.
Discover’s Cashback Bonus program doesn’t have an overall limit, only on special promotions and on the spending amount of some bonus categories. Your rewards don’t expire, and you don’t need a minimum amount to redeem them.
Discover categories are areas of spending in which Discover cardholders can earn bonus cash back up to a maximum cap spent per quarter. These categories may rotate every quarter or they may remain the same all the time and some of them may also require activation, depending on the card. Purchases outside of the categories earn 1% cash back.… read full answer
The Discover cards with rotating categories include Discover it® Cash Back, Discover it® Student Cash Back, and the NHL® Discover it® card. Past categories have included grocery stores, restaurants, gas stations, wholesale clubs and more. Cardholders earn 5% cash back on the first $1,500 spent in the quarterly categories combined, and 1% back on all other purchases. In order to earn 5% cash back each quarter, you will need to activate the categories online.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.