I like to keep track of the rotating categories of the 5% cash back cards out there, but one of the more disappointing areas was always Discover’s low purchase limits of only a few hundred bucks. From October 1st to December 31st, you can earn 5% cash back on up to $300 spent in the following categories: department stores, clothing stores, and restaurants. Not bad for gift-giving purchases, but Chase Freedom even had a commercial specifically about it, as their quarterly limits were $1,500.
Discover® More® Card
From October 1 to December 31, you can earn 5% cash back on up to $1,500 spent in the following categories:
- Online Shopping
- Department Stores
You must enroll online to activate the rewards each quarter. Discover card has a tiered cashback rate on other purchases (1% unlimited Cashback Bonus on purchases after your total annual purchases exceed $3000; purchases that are part of your first $3000 earn .25%.).
Essentially, for any quarter you can now earn $75 in cashback at 5% for certain categories, and usually one of them is useful like gas, restaurants, and department stores. These are also areas that you should be able to not spend more subconsciously just because it’s 5% cashback.