Cashing in your hard earned points for gift cards or gift certificates is one option you have when it comes to redeeming your rewards. If you are the type that likes to trade in your points for gift cards or gift certificates, then there are a few things you should consider when choosing a rewards card. The purpose of a rewards card is to save you money and the way you can do that by maximizing your rewards card so you are using it to the full potential. If gift cards are your thing, then remember to think about these questions when you are on the hunt for a good rewards card. Also, check out the Discover More card featured below which is a great card to use for those that want gift cards!
How Many Merchant Partners Does the Program Have?
The first thing to consider when searching for a rewards card is how many participating merchants does the card company partner with. You want to set yourself up with a credit card that gives many options. The more merchants the card partners with the more options you are going to have when it’s time to cash in your rewards.
How Many Points Do You Need For A Gift Card?
Knowing how many points you need before you can cash in your rewards is extremely important. Some programs require you to have a great deal of points before they will allow you to redeem them for a gift card or gift certificate. How disappointed would you be if you found out your rewards card requires 3,000 points to get a $25 gift card? Obviously, this would not be a good trade off. The better programs like the American Express Membership Rewards Program allows you to exchange for example 2,500 points for $25 gift card, 5,000 points for a $50 gift card and 10,000 points for $100 gift card. Typically, you have to spend one dollar to earn one point, this is essentially a 1% rebate.
Discover More Card
One great card to consider is the Discover More Card. This card allows you to earn cash rebates and you can potentially double the value of your cash rebates by exchanging them for gift certificates. This program allows you to redeem for gift cards or instant eCertificates from over 100 brand-name Partners starting at $20. You also have the option to cash in your points for a Discover gift card which can be used anywhere Discover is accepted. You can even personalize with an embossed name and design starting at $20. This makes this card ideal for those that want to cash in your rewards for gift card or gift certificates. Here are some of the features of the card:
- 0% intro APR on purchases and balance transfers for 15 months, then the variable standard purchase APR of 10.99% - 20.99%*
- 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
- Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S.-based Account Manager within 60 seconds
- $0 Fraud Liability plus automatic mobile and email fraud alert options
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
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