Should I cash out $750 check in Discover account or not?
Jul 17, 2013, 1:31 am
#1
Original Poster
Join Date: Mar 2012
Programs: Hilton, Hyatt, Priority, SPG - AA, Hawaiian Airline, United, US Airline
Posts: 608
Should I cash out $750 check in Discover account or not?
After 500$ promotion for 5 months (spending $3000/month) and 5% bonus/quarter, I have around 750$ in my Discover, do you think that I should cash out $750 or not? Is it safe to keep $750 in Discover account? From my experience, I know that it is not wise to keep points in Chase or Citi accounts, how about Discover? anyone has any experience about Discover?
Jul 17, 2013, 1:59 am
#2
Join Date: Nov 2012
Posts: 3,537
After 500$ promotion for 5 months (spending $3000/month) and 5% bonus/quarter, I have around 750$ in my Discover, do you think that I should cash out $750 or not? Is it safe to keep $750 in Discover account? From my experience, I know that it is not wise to keep points in Chase or Citi accounts, how about Discover? anyone has any experience about Discover?
Jul 17, 2013, 8:34 am
#4
Join Date: Mar 2006
Posts: 591
After 500$ promotion for 5 months (spending $3000/month) and 5% bonus/quarter, I have around 750$ in my Discover, do you think that I should cash out $750 or not? Is it safe to keep $750 in Discover account? From my experience, I know that it is not wise to keep points in Chase or Citi accounts, how about Discover? anyone has any experience about Discover?
But as others have posted, what are you waiting for? I cash out every year for gift cards that provide a 25% bonus. If you see something you want & can use, go that route; otherwise, just get the cash.
Jul 17, 2013, 11:17 am
#5
Original Poster
Join Date: Mar 2012
Programs: Hilton, Hyatt, Priority, SPG - AA, Hawaiian Airline, United, US Airline
Posts: 608
When I cash out a check, I will receive $750. However, if I redeem for gift cards such as Express. I will receive $50 at Express for 40$ redeem. Can I do many 40$ redeem for 50$ gift cards at Express?
Jul 17, 2013, 12:19 pm
#6
Join Date: Feb 2013
Location: Tampa, FL
Posts: 304
You can redeem it for whatever you want. Find some giftcards you like and get them if you want. I usually keep a decent balance in my account since it's linked to Amazon for those impulse buys and just in case the Shell gift card deal comes back one of these days.
Jul 17, 2013, 1:21 pm
#7
Join Date: Jul 2009
Posts: 721
happy9zz, if they offer $80 Shell gas cards for $40 (or something) like they used to, it's good to have left lotsa money there. About six months ago calling about something else, I asked if we'll see deals like that again. They acted like "don't count on it" but that's probably just one clueless CSR's opinion (hopefully).
Jul 17, 2013, 9:11 pm
#8
Join Date: Aug 2010
Location: CLT
Programs: AA, UA, BA, Hilton Diamond, Marriott Gold, IHG Platinum
Posts: 2,074
happy9zz, if they offer $80 Shell gas cards for $40 (or something) like they used to, it's good to have left lotsa money there. About six months ago calling about something else, I asked if we'll see deals like that again. They acted like "don't count on it" but that's probably just one clueless CSR's opinion (hopefully).
To my knowledge, that happened once, ever. Two years ago almost to the day. I wouldn't hold my breath.
Jul 17, 2013, 9:47 pm
#9
Join Date: Dec 2009
Location: Maryland
Programs: I like them all
Posts: 37
Should I cash out $750 check in Discover account or not?
I've held over $3,000 in Cashback which was only recently cashed out as I finally got smarter and switched my spend elsewhere. Never felt a need to cash it out or that they would take it away. And sure enough, was able to get everything that was earned without issues.
Jul 17, 2013, 10:10 pm
#10
Join Date: May 2008
Location: BOS/SIN
Programs: SQ
Posts: 2,704
Like others have said, the program could change the rules at any time. The safe decision is to take it out now, and I'm not convinced you'll get some kind of amazing value if you keep it in there either.
Jul 18, 2013, 7:14 am
#12
Join Date: Apr 2013
Posts: 260
No point in keeping $750 in there. It's sitting in there all by its lonesome, not earning interest, with the (semi-remote) chance that it could get taken away.
Use the gift card redemptions if you can find them for stores you'd be shopping at anyway. Otherwise just get the cash.
Use the gift card redemptions if you can find them for stores you'd be shopping at anyway. Otherwise just get the cash.
Jul 19, 2013, 5:32 pm
#13
Join Date: Sep 2012
Posts: 57
If you cruise, occasionally you can find a decent deal where you can use the $80 in discover cash for $160 off a cabin. I usually keep $200 in there to use, but I've been a discover customer for 18 years, and doubt they'd ever take my money away.
If you're doing anything shady though, I'd cash out.
If you're doing anything shady though, I'd cash out.
Jul 19, 2013, 7:49 pm
#14
Original Poster
Join Date: Mar 2012
Programs: Hilton, Hyatt, Priority, SPG - AA, Hawaiian Airline, United, US Airline
Posts: 608
wow... thanks you guys. After I take a look of their gift cards, I am very interested. I usually shop at express. I can pay $40 gift card to have 50$ express gift card. I really love it ^_^. I decide not to cash out the check. I wish Discover has 2 quarter for 5% cash back at gas station because I can buy beans at my gas stations ^_^. Is there anyway to apply another Discover card so I am qualify for another 5% cash back at gas?
Jul 19, 2013, 11:34 pm
#15
Join Date: Jul 2009
Posts: 721