A top Evreward merchant since 2005, JCPenney offers coupons, cash back rebates and rewards, with savings as high as 30% off. JCPenney discount coupons are plentiful, usually available every month, and are often more valuable than similar merchants. Even when JCPenney doesn't have a coupon, you can always get up to 20% cash back, and other great rewards, with every purchase.