Maximize Discover Cashback Redemptions

I read, with interest, about the possibility of getting more than the cash value of your cashback from Discover from Miles Per Day. The method mentioned by his readers involves being a bulk seller on a certain exchange though, and I’ve just started in the world of MS about a month ago, so I’m not quite there yet.

I’ve found a method that is maybe even more lucrative. It’s more complicated and less instant though. But if you have patience, you don’t need bulk seller status. Discover Cashback also has $50 Overstock e-gift cards available for $45. Okay, so you’re looking at Giftcardwiki and seeing that you only get 75% and you paid 90%. But wait! There’s more.


You can sell these on Raise very easily for $49.50 — I’ve even made sales for the full $50. The downside is that Raise takes 15% of the sale price. So, at a sale price of $49.50, you’re getting $42.08. Okay, still losing money. But wait! Here comes the fun.


If you click through TopCashBack before you sell on Raise, they’re offering $10 cash back on gift cards listed for sale with value of $50 or more.

The math

$45 for $50 Overstock gc from Discover Cashback = -$45
$42.08 paid by Raise for selling Overstock gc for $49.50 = -$2.92
$10 paid by TopCashBack for listing gc of $50+ value = $7.08

Overall, you’re making $7.08 extra for each $45 redeemed in the Discover Cashback store. That’s about 15% more than if you took the cash. If you had $1000 in Discover Cashback to spend, you’d end up with $1150 instead. The downside is that it takes Raise about 5 weeks to pay out, and it may take a couple of weeks for your gift cards to sell on Raise. If you’re not in any hurry, this is very little extra work for a 15% boost to your bottom line!

These are my referral links for Raise and TopCashBack. Of course, you’re not at all obligated to use them, but I’m grateful if you choose to:

Raise ($5 off your first purchase)
Discover IT card application ($50 bonus cashback with first purchase)


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