Over the weekend, credit card offer watchers found that cardholders who use their rewards to buy a gift card may now get 10%-25% more value than they would by redeeming for cash, depending on the retailer. For example, a $50 Old Navy gift card can be purchased for $40 of cash-back rewards right now, as confirmed by The Balance via the Discover cash-back rewards center on Monday. That translates to a point value of 1.25 cent per point. Here are some more examples of gift card deals The Balance found: Discover did not respond to The Balance’s request for more information about when exactly these offers started, or how long they will last, by publication time. For now, these gift card promotions could help you save money on last-minute stocking stuffers or preemptively save on retailers you already frequent. Plus, since retail promotions can be stacked with gift cards, you may be able to save even more on your purchases later on.
