If you are a current Discover card holder, Discover has entered a new partnership that could make the points you earn be even more flexible.
Discover and PayPal have teamed up to allow the redemption of Discover Rewards through PayPal. In order to do so, you’ll have to link your PayPal account to your Discover account. Once you do that, any cashback that you’ve earned through spending on your Discover card can be redeemed for 1 cent per point through PayPal.
If I’m honest, I don’t really see the value in this. Sure, it redeems at a 1:1 rate which is definitely nice. However, you could redeem the points for statement credit for the exact same price anyway. That being said, you may even get more value for redeeming those rewards for gift card purchases.
Why anyone would chose to cash out directly to PayPal is weird to me, but more options for more people I suppose.
Is there a reason you see that makes cashing out at PayPal more valuable than redeeming directly for statement credit? Let us know down in the comment section below.