As you play the game you earn letter cards, these are used in Vanna's Showcase to create words.
There are various words listed in Vanna's Showcase, and once you form one of the listed words with the letters you earn, you will be able to redeem various prizes such as Helping Hands, Lucky Coin, Bankruptcy or Lose a Turn Protection, and prize wedge upgrades which increase the amount of your cash wedges.
For example, you have the letters required to redeem ARMOR, you can redeem it and have bankruptcy protection for 1 day.
The further you advance in the game, the more Vanna's Showcase Upgrades you unlock!