Update 4/1/24: Don’t forget that these new 5% rotating categories start 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 2024 (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
- Amazon.com
- Hotels
- Restaurants
- 5% cashback on up to $1,500 spend in combined purchases of this quarter’s categories
- Eligible retailers & exclusions
- Activation link
The easiest way to max out your 5% categories on Freedom and Freedom Flex cards in Q2 will be to buy gift cards from Amazon. There’ll hopefully be some kind of deals they run that’ll make it easier to get even better value, especially if Prime Day happens to fall in June rather than July.
Otherwise, with Mother’s Day coming up many restaurants will be running bonus card deals (e.g. buy $50 gift card & get $10 bonus card free). If you’re interested in those, earning 5% (or 5x Ultimate Rewards) could be a good option.
Discover It
- Gas Stations & Electric Vehicle Charging Stations
- Home Improvement Stores
- Public Transit
- 5% cashback on up to $1,500 in purchases
- Activation link
Many gas stations sell gift cards, while Lowe’s and Home Depot also have gift card racks.
Citi Dividend
- Grocery Stores
- 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 will be simple to earn 5% on as grocery stores and drugstores all have gift card racks. Remember that you can spend all $6,000 of your annual allowance in a single category if you like, so this is a great time to do that.
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.
Looks like Chase Freedom Flex is stacking the 5% bonus with the existing restaurant and Chase Travel portal hotel purchases.
Stack your quarterly 5% cash back with your always-on cash back to earn 9% total cash back on hotels booked through Chase Travel, and 7% total cash back at restaurants plus 5% cash back on Amazon.com on up to $1,500 in combined purchases from April 1- June 30, 2024.