Discover was one of my first cards I ever applied for, and I keep it in my wallet especially for those 5% cash back per quarter offers up to $1,500 in purchases. Here is the calendar for 2015.
Previously if you wanted statement credit for your cash back, you had to do it in $25 increments. You could also redeem for gift cards with some merchants giving you extra cash back. Well I received an email from them that you can now redeem statement credit or cash deposited into your bank account for any cash back amount.
This allows you do use all of your cash back amount and not having to leave some behind which is nice.
Some other useful information. If you applied for a Discover Card many years ago, you might have the Discover More card like I did. The cash back bonus structure was set up that you would earn .25% for the first 3k in spend starting on your anniversary date and then 1% cash back after meeting that threshold. Well I called 1-800-Discover and told them I wanted to earn 1% on all purchases all the time and they told me about the Discover IT card. It’s basically the same card and still gets 5% cash back for certain categories each quarter and it earns 1% on every purchase. So I told the agent to switch me. There is no credit pull and I get to keep the same number and everything. So if you have the old card with the old bonus structure, I recommend giving Discover a call to switch you.