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Update 4/1/21: These new categories go live today.
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There are several credit cards that offer 5% cashback in rotating categories each quarter. All of them can now be activated for Q2 2021 (April 1 to June 30), so here are their links and how to maximize them for gift card purchases in case you wouldn’t meet their respective spending limits through organic spend.
Cards, Categories, Limits & Activation Links
Chase Freedom / Freedom Flex
- Gas stations
- Home improvement stores
- 5% cashback on up to $1,500 spend in combined purchases of this quarter’s categories
- Eligible retailers & exclusions
- Activation link
This should be a fairly easy category to max out. Lowe’s sells Amazon gift cards, as well as Visa and Mastercard gift cards. Their gift card racks usually have grocery store gift cards too. Home Depot sells third party gift cards, but their selection is far inferior compared to Lowe’s stores.
Depending on gas stations near you, that could be another good option for maxing out this category when buying gift cards. Speedway is a great place to buy third party gift cards because you’d not only be earning 5% on your Chase Freedom or Freedom Flex card, but you’d also be earning Speedy Rewards points which can then be redeemed for even more gift cards.
Discover It
- Gas stations
- Wholesale clubs
- Streaming services
- 5% cashback on up to $1,500 in purchases
- Activation link
Both Chase Freedom/Freedom Flex and Discover It are offering 5% at gas stations in Q2. As mentioned above, gas stations can be a good option for maxing out by buying gift cards.
The same goes for wholesale clubs; BJ’s, Sam’s Club and Costco all sell gift cards and often run gift card sales. It’s also often possible to pick up discounted – or free – memberships which can be worth getting even if you’re not planning on doing grocery shopping at wholesale clubs.
Citi Dividend
- Supermarkets
- Drugstores
- Total annual (calendar year) cash back is limited to $300 and includes additional cash back earned in connection with this offer (i.e. $6,000 total spend).
- Activation link
This is the easiest set of the lot to max out seeing as grocery stores and drugstores all sell a wide variety of gift cards and many also run gift card promotions which can be profitable for reselling at times.
Remember with the Citi Dividend card that you can max out your entire 5% yearly allowance within one quarter if you like.
US Bank Cash+
- Choose two of the following:
- Home Utilities
- Electronics Stores
- Sporting Goods Stores
- Ground Transportation
- TV, Internet & Streaming
- Department Stores
- Select Clothing Stores
- Gyms/Fitness Centers
- Furniture Stores
- Cell Phones
- Fast Food
- Movie Theaters
- 5% cashback on your first $2,000 in combined net purchases in your chosen 5% categories
- Activation link
The US Bank Cash+ categories don’t rotate each quarter, although you do get to change/maintain your selection of two categories. It’s a shame that grocery stores, drugstores, etc. aren’t eligible categories, but there are a few gift card options.
The electronics stores category presumably includes Best Buy. That means you can buy gift cards for Best Buy, Amazon and many other third party brands, plus Best Buy sometimes offers discounted gift card deals. Some department stores and clothing stores also have third party gift card racks.
ABOC Platinum Rewards
- Home improvement stores
- Gardening & nursery stores
- Home furnishing stores
- Warehouse clubs
- Costco.com
- Target.com
- Walmart.com
- Earn 5% cashback on your first $1,500 in combined purchases each quarter.
- Activation link
A few months ago ABOC had listed Amazon as being one of the eligible categories for !2, but note that that’s no longer the case. Still, maxing out these categories by buying gift cards should be simple.
There’s home improvement stores, so Lowe’s and Home Depot and their gift card racks could come into play. Assuming Bed Bath & Beyond is regarded as a home furnishing store, the same goes for them.
You have warehouse clubs like BJ’s, Costco and Sam’s Club as well as the Costco.com, Target.com and Walmart.com. Note that it only seems to be Target’s and Walmart’s websites which are eligible for 5% rather than in-store purchases.