If you get the email and read the fine print, you might notice what I am bolding here:
Gift Card expires June 18, 2012. Promotional savings/gift cards are only valid on magazines and newspapers. Lost/stolen codes will not be replaced and are non-transferable. Code can only be applied to new transactions; previous transactions are ineligible. All transactions subject to approval. Use of this code constitutes acceptance of these terms and conditions. Issued by Magazines.com Card Services, LLC. Your promotional code has cash value. Visit www.magazines.com/gc_redeem for details. Need Help? Call us at 1.800.MAGAZINES (1.800.624.2946).
So, you can either look for a magazine you would be interested in at a $5 discount OR you can opt for the $5 cash option and Magazines.com will actually mail you a check! I opted for the check as I currently do not see any magazines I am interested in. Look for this email in your spam folder, mine came from magazines.com with the following subject line: $5 Inside.
If you have it and don't want a magazine, go here to opt for the cash option.
Don't understand my lingo? Go here.