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Discover Financial Services is adding prepaid cards to the redemption options in its credit card reward program, according to a company spokesperson. Cardholders will be able to start trading in reward points for prepaid cards on May 1, says Dana Traci, vice president of retail partner marketing at the Riverwoods, Ill.-based company. The non-reloadable gift cards will bear Discover's brand and cardholders can redeem them once they accumulate at least $20 of reward points. Cardholders still will be able to redeem points for credits to their accounts, gift cards to other retailers or merchandise. The prepaid card option will give cardholders "more choices and more options of how they want to receive their rewards," says Traci. Discover has started alerting some cardholders to the prepaid option through its Web site and monthly statements and it will use those venues and "other marketing channels" to inform others, she says.
