Discover Card Conversion Process and Benefits

Discover Card Conversion is a process that allows you to convert your cash back rewards to gift cards, statement credits, or other forms of rewards.

You can convert your rewards into a gift card from popular retailers like Amazon, Walmart, or Target, with no fees or blackout dates.

To start the conversion process, simply log in to your Discover online account and navigate to the "Rewards" section.

There, you'll be able to select your preferred reward option and follow the prompts to complete the conversion.

A fresh viewpoint: Discover It Card Application Process

The conversion process for a Discover card is a straightforward one. It typically takes 2-3 weeks to complete.

You'll need to fill out the conversion application and provide identification, which can be done online or over the phone.

The Discover card company will then verify your information and review your credit history.

During this time, your existing credit card will remain active, and you can continue to use it as usual.

Once your conversion is approved, your new Discover card will be mailed to you, and your old card will be closed.

Your new card will have the same credit limit, payment terms, and rewards program as your old card.

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Upgrading your Discover credit card can earn you more rewards on eligible purchases, such as 5% cash back on rotating categories.

You won't be eligible for Discover's intro APR offers or Cash Back Match after upgrading your card.

Upgrading your Discover credit card can be a hassle-free process, as you don't need to go through a new card application process.

Your credit history and credit score won't be negatively affected by upgrading your Discover credit card.

However, downgrading your Discover credit card may not make a difference, as all of its cards have a $0 annual fee.

If you do decide to downgrade, be aware that your rewards rate may decrease from 5% cash back to 2% cash back on eligible purchases.

Here are some key benefits and considerations to keep in mind when upgrading or downgrading your Discover credit card:

If you want to upgrade or downgrade your Discover credit card, you need to wait at least one year after opening a card before you can request a product change.

You can upgrade or downgrade your Discover credit card over the phone or online, but there are some rules to keep in mind. Product changes can’t be completed if you’re currently enrolled in a Discover promotion like Cashback Match, which matches all the cash back rewards earned on a Discover credit card at the end of the first year.

If you've had a Discover credit card for less than a year, you might want to consider applying for a new card instead, as this will give you access to promotions like Cashback Match.

You can request a product change by visiting the Discover site or contacting a customer representative. They can help you understand the rules and find a card that suits your needs.

Here are the key rules to keep in mind:

Upgrading or downgrading a card won't hurt your credit score unless your issuer performs a hard credit pull.

A product change is a soft credit inquiry, which doesn't affect your credit score.

You can make changes to your Discover card without worrying about your credit score taking a hit.

Just keep in mind that a hard credit inquiry can happen if your issuer needs to verify your creditworthiness.

You can convert your Discover It card to a Discover It Miles card, but be aware that this will result in the loss of the 5% rotating categories. Ron's experience shows that Discover may unilaterally convert your card to a Miles card without your knowledge, citing "spend patterns" as the reason.

Discover allows you to convert your Cashback rewards to 1-800-Flowers gift certificates, which come with a discount of 33% off the card's face value. This means a $30 gift certificate costs only $20 in Discover Cashback.

You can also use Discover's online conversion tool, as mentioned in the post "Discover Credit Card Online Conversion Tool - Doctor Of Credit".

If this caught your attention, see: Discover Gift Card

Your reward points or miles will stay the same, regardless of whether you're upgrading or downgrading your credit card.

The rewards already earned on your existing card will remain intact, so you don't have to worry about losing any points or miles you've accumulated.

Your account number and payment due date will also remain the same, providing continuity and convenience.

The only change will be your reward-earning rate, which may be higher or lower depending on the new card you're switching to.

You can easily convert your Discover credit card online using various methods. One way is to use the online conversion tool provided by Doctor of Credit.

The Discover credit card online conversion process can be a bit tricky, but it's doable. For example, Ron was able to convert his Discover It Miles card back to the It card with 5% rotating categories by opening a chat with Discover and asking them to make the change.

You can also use the conversion link provided by Grant, which can be found in the Doctor of Credit post. However, be aware that Discover is now unilaterally converting It cards to Miles cards, which may affect your ability to access the 5% rotating categories.

Here are some specific steps to keep in mind:

If you have a stash of Discover Cashback like our friend with $3500, you can convert it to 1-800-Flowers gift certificates.

You can choose to get a 33% discount off the card's face value, which is a great deal.

For example, a $30 gift certificate costs only $20 in Discover Cashback.

1-800-Flowers only allows one gift certificate per order online, so pick a value close to your planned spend.

Let's say you choose the $30 gift certificate, it should be sent to you via email right away.

Discover card credit score requirements vary from product to product, but most of their credit cards are for those with established credit.

Worth a look: Discover Card Product Change

Having an excellent credit score will improve your chances of approval, whether you're applying for a new card or requesting a product change.

Discover card issuer, MoneyGeek, is led by Doug Milnes, a CFA charter holder with over 10 years of experience in corporate finance, who geeks out on helping people feel on top of their credit card use.

Milnes holds a master’s degree in data science from Northwestern University, which likely informs his expertise on credit card use and optimization.

Check this out: How to Use a Discover Credit Card

1-800-Flowers can be used as a vehicle for buying miles, and any nice flowers or gifts that result are a bonus.

The idea is to convert Discover Cashback into 1-800-Flowers gift certificates.

To use this plan, you need to select stuff to buy from 1-800-Flowers and apply an airline mile promo code.

You'll end up with airline miles and stuff from 1-800-Flowers after paying with your gift certificates.

Some people may comment on how bad of a deal 1-800-Flowers is, but that's irrelevant to this plan.

1-800-Flowers points do not count towards the Southwest companion pass point total, according to a previous discovery.

AMEX Offers can be used in conjunction with this plan, including offers for Dropbox, Adobe, and other merchants.

The Discover card conversion plan may not be the best use of 1-800-Flowers, but it can be a useful strategy for buying miles.

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