Activation open for 3rd Quarter 2020. The credit cards below offer up to 5% cash back on specific categories that rotate each quarter. It takes a little extra attention, but it can add up to hundreds of dollars in additional rewards per year without changing your spending habits. You can also buy gift cards with the 5% back now but spend the gift cards later. New cardmembers may also get an upfront sign-up bonus.
Chase Freedom CardFrom July 1st through September 30th, 2020 you can earn 5% cash back on up to $1,500 spent in the following categories:
- Amazon.com
- Whole Foods Market
Enroll each quarter at ChaseBonus.com. As long as you activate by the end of the quarter the rewards are retroactive. All other purchases earn 1% back, with no tiers or expiration of rewards. Technically, you earn Ultimate Rewards points which can also be converted to airline miles or hotel points instead of cash if you have a Chase Sapphire Preferred or Chase Sapphire Reserve card. Currently, the Chase Freedom card is offering new applicants $200 if you sign up and make $500 in purchases in your first three months. No annual fee.
Discover it CardFrom July 1st through September 30th, 2020 you can earn 5% cash back on up to $1,500 spent in the following categories:
- PayPal
- Restaurants
Enroll after logging into your online account (look on the right-hand side). 5% rewards won’t apply until after you activate your rewards, so it is best to activate now before you forget. No annual fee.
New cardmember bonus details. If you are a new applicant and sign up via my Discover Card referral link, you will get a $50 Cashback Bonus after your first purchase within 3 months of being approved. You will also get Cashback Match for an entire year – a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically. During those 12 months, your $50 Cashback Bonus becomes $100, your 5% cash back rewards becomes 10% cash back, and your 1% cash back rewards become 2% cash back. You can verify this on the application by clicking on “See rates, rewards and other info” and searching for “cashback match” and “statement credit offer”:
Cashback Match: No purchase minimums. After the first 12 consecutive billing periods that your new account is open, we will match all of the cash back rewards you’ve earned and apply them to your account in the following one or two billing periods. If your account is closed or no longer in the cash back reward program at the time we calculate your potential award, your cash back will not be matched. You’ve earned cash back rewards when they have posted to your account by the end of the 12th consecutive billing period. This promotional offer may not be offered in the future. This exclusive offer is available only to new cardmembers.
TERMS OF STATEMENT CREDIT OFFER: Get a $50 Statement Credit after you make your first purchase within 3 months of being approved. Promotional award will be applied within 8 weeks. The promotional award is in addition to the Cashback Bonus earned on all purchases.
ABOC Platinum Rewards Card – $150 Statement Credit Offer
From July 1st through September 30th, 2020 you can earn 5x rewards on up to $1500 in combined purchases this quarter in the following categories:
- Travel, including gas. Eligible MCC code categories include qualifying airline, cruise, car rental, hotel, travel agency purchases, gas, tolls, and ride share.
You must register each quarter at ABOCRewards.com or in your online account. Currently, the ABOC Platinum Rewards Mastercard is offering a $150 statement credit if you sign up and make $1,200 in purchases in your first 90 days. No foreign transaction fees. No annual fee.
U.S. Bank Cash+ Visa Signature Card. You get to choose the two 5% cash back categories every quarter, out of a preset selection of specific categories:
- Fast Food
- Cell Phone Providers
- Home Utilities
- Ground Transportation
- Select Clothing Stores
- Electronics Stores
- Car Rentals
- Gyms/Fitness Centers
- Sporting Goods Stores
- Department Stores
- Furniture Stores
- Movie Theaters
- TV, Internet, and Streaming Services
Unfortunately, you can’t pick a broad category like gas stations, restaurants, or grocery stores. Make sure to choose your categories each quarter, even if you want them to stay the same. If you do not choose your categories, all purchases revert to only earning 1% cash back for that quarter. No annual fee.
American Express Blue Cash Preferred Card. This card earns 6% cash back at US supermarkets all year long (on up to $6,000 per year) and. 3% cash back at US gas stations. New: 3% cash back on transit and 6% cash back on Netflix/Spotify/Hulu. I use this card all year long for groceries, and then in December use up the $6k annual limit on gift cards bought in the supermarket aisle. New cardholders are also eligible for a $250 statement credit after $1,000 in purchases within the first 3 months. $95 annual fee. See details in link.
Amazon Prime Rewards Card. Earn 5% back at Amazon.com and Whole Foods all year long. Prime membership required. New cardholder bonus varies by person. No annual fee.
Citi Dividend Card. This card is no longer available to new applicants, but if you still have the grandfathered card you can view and activate your quarterly 5% category here. Limit of $300 cash back for the calendar year.
Don’t settle for the “1% on everything else” that these cards offer. Get 2% cash back or higher. Check out the card-specific reviews for details.
- Citi Double Cash Card Review. 2% cash back. No annual fee.
- Fidelity Rewards Visa Card Review. 2% cash back. Fidelity account required, but there is no minimum balance requirement. No annual fee.
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The Chase/Apple pay option on the freedom card seems very useful. A lot of merchants across different categories like grocery, restaurants etc get covered in it.
For discover, wholesale clubs like costco do not take anything but VISA, but costco.com allows discover as a payment option – though i am not sure if that would count toward the 5% cashback. It will be nice to know if someone has tried and knows. If it does, it could be worthwhile to buy costco cash cards online with discover and use them to pay in store for purchases and gas.
Yes it does work.
I just placed an online Costco order for a $100 card and will see if it triggers the 5% then possibly buy the rest of the 1500$. Although this defeats the 2% back from the Costco Visa card. A smarter strategy might be to use this exclusively for gas then buy gift cards at the end of the quarter for the balance.
Actually it doesn’t have to defeat the purpose. You can get real cash from Costco in exchange for those gift cards. They might not do all $1500 at one time but $100 at a time I have done that.
Thanks! I think I’ll do 15 x $100 and liquidate 1 per week, I’m always there.
Congratulations on becoming a money launderer 🙂
In case anyone still listening, my Costco is doing away with this by year end (but getting conflicting stories about in effect now.) I agree the above is money laundering but we often get gift card as rebates from promoted merchants (floor install) and refunds and prefer the cash.
FWIW, I emailed Discover and they confirmed the 5% works at costco & bj’s online – so no fee, no shipping gift cards from either should work. Got my $100 costco card. Easily will blow 1500 per Q between the 2 so a no hassle way to max out without keeping track of purchases.
Thanks, may be worth a shot, especially since my wife’s Discover card is still within the first bonus year so that 5% becomes 10%…
And this card gets you 2.5 back on everything: https://www.mymoneyblog.com/alliant-credit-union-visa-signature-card-review.html
Thanks, I added that one to the list. It does have a $59 annual fee after the first year, though.
Why no mention of the Alliant Cashback Visa® Signature Credit Card?
– 3% cash back in year one & 2.5% cash back after
https://www.alliantcreditunion.org/bank/visa-signature-card#features
Does the chase Costco 5% work at Costco for Gas?
I got an offer in Feb. for 5% cash back on any utility or insurance payment made with my Amazon Prime Visa card. I prepaid a few months of electric bills to make sure it worked, and it did. I plan on prepaying all of my utilities and insurance policies before this crazy offer expires. Talk about things you’re going to be buying anyway…
P.S.~~~My gas company charges $2.95 for a credit card payment, with a $1500 limit, so at 5% you’re spending $2.95 to make $75. Some utilities do charge, but you can still easily make money by making a big enough payment. Folks who read this blog are bright enough to do the math.
Talking about expenses/spending, Jonathan what are your expenses like ? Also, if anyone would like to share.
I’m looking for ways to reduce.
Expenses
Home Expenses Jan
Home Insurance $67.00
Maintenance
Property Taxes $233.00
Other
Total $718.00
Transportation Jan
Car Payments
License & Registration
Car Insurance $146.00
Fuel $202.00
Maintenance
Bus/Transit Pass
Taxi & Ride Shares
Other
Total $348.00
Utilities Jan
Electricity $250.00
Gas/Heating Oil
Cell Phones $60.00
Garbage $35.00
Internet $35.00
Television
Water $90.00
Other
Total $470.00
About $1,200 for everyday expenses. Taxes are spread out over a year.
I know I can shop online using Paypal and point it to the Discover Card to get the Q3 2019 cashback. I was googling around trying to figure out if there’s some way to pay with Discover on Paypal at physical stores, and what I found was confusing. I *think* they used to offer this feature on both iPhone and Android but now only Android, is that right? And I know you can add Paypal to Apple Pay, but will that charge to the Discover card getting you your cashback, or will it charge your bank account? Anybody familiar with this?
any luck with this. I’m interested in this too.
I don’t see the option to use PayPal for pay1040.com (Chase Freedom, 4th quarter, 2019)
You’re right, the lowest option is 1.96% with PayUSATax, will fix.
I think the dates for the Amalgamated 5x offer is wrong … just sayin’
Fixed, thanks!
Wondering what card to use to pay medical bills. The provider has given 12 – 24 months at 0% rate to pay the bills. Payment can be made monthly via credit card. Currently have Citi and get 2% back. Wondering if there is another card that could be used for this purpose. Since its medical bill wondering if it will fall under health category. Any suggestion?
@Frugal Mom, many drugstores and supermarkets sell prepaid VISA or American Express-branded gift cards. Buy one on a credit card offering 5% off drugstore or supermarket purchases. Then use the prepaid gift card to pay your medical bill (the provider should process the gift card like any credit card). You’ll save 5% off what you paid for the gift card, less a $5.95 fee per gift card, so put the maximum amount on as few gift cards as you need to pay the bills.