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Discover sent out a targeted offer to cardholders yesterday, offering them a $10 statement credit when spending $50+ via PayPal and paying with at least 1 Discover point.
The Deal
- Spend $50+ via PayPal & get a $10 statement credit from Discover when paying with at least 1 point.
Key Terms
- Expires December 31, 2020.
- Earn a $10 statement credit on your Discover credit card account when you make a purchase of $50 or more using your Discover card at PayPal and redeem any amount of Discover rewards at checkout.
- No Activation required.
- PayPal qualifying purchases are those made through the PayPal wallet online.
- Payments made when you send money to Friends and Family via PayPal using your Discover Card, point-of-sale transactions using PayPal Here, or through the Xoom transfer service are not eligible.
- Purchases made using tap-and-pay, mobile or wireless card readers, virtual wallets or similar technology will not be eligible.
- Offer is not transferrable and limited to one offer per account.
- Statement credit will be posted to your account within two billing periods after the end of the promotion.
- For complete details on how to Pay with Rewards with PayPal see PayPal.com/Discover.
- Pay with Rewards will be available for eligible credit cards on eligible purchases.
- All reward redemptions are subject to Discover’s reward program terms.
Quick Thoughts
If you’re targeted for this offer then it’s definitely worth taking advantage of it because it’s such an easy win. I’m sure most of us will be spending $50+ in a transaction at some point by the end of the year where PayPal is an option at checkout. You can simply redeem 1 point and pay for the rest of the order with your Discover card to get the $10 statement credit. If you happen to be buying from Walmart or Target, you’ll also earn 5% on what you spend on the card if you’ve not already maxed out your 5% spend this quarter.
Even if you’re not planning on spending $50 at a retailer which accepts payment by PayPal, you could buy a $50 gift card from PayPal Digital Gifts in order to save 20%.
Although it wouldn’t be terrible value to pay for your entire order with your Discover Cashback Bonus (if you had a sufficient balance), the better option is to only redeem 1 point. That’s because you can redeem your Cashback Bonus for gift cards, with Discover offering a 10-20% bonus on many gift card brands, thereby getting more than 1cpp of value from your Cashback Bonus.
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Don’t forget Best Buy as well. So you’re saying you still earn the 5% even if you use PayPal with Discover as the payment method?
I realized I made a mistake with that. I don’t think you would, so I’ll fix the post.