Update 7/1/23: These new 5% spending offers 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 Q3 2023 (July 1 to September 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
- EV Charging
- Select Live Entertainment
- 5% cashback on up to $1,500 spend in combined purchases of this quarter’s categories
- Eligible retailers & exclusions
- Activation link
Buying gift cards from gas stations will be the easiest option, although that’ll depend on which gas station chains you have nearby and if they let you buy gift cards with credit cards. If buying from somewhere like 7-Eleven, be sure to do a test purchase first to ensure it codes as gas rather than something like a convenience store.
Discover It
- Gas Stations
- Digital Wallets
- 5% cashback on up to $1,500 in purchases
- Activation link
Similar to Chase Freedom and Freedom Flex cards, buying gift cards from gas stations is one option to max out the 5% cashback allowance. For many though, paying via digital wallet will be significantly easier seeing as you can then buy gift cards at grocery stores, Target, Walmart, etc.
Citi Dividend
- Gas Stations
- Home Improvement Stores
- 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
It’s unusual to have three of the 5% cards having the exact same spending category, but gas stations is on the Citi Dividend card as well as Discover It and Chase Freedom and Freedom Flex this quarter. You can buy gift cards there, or buy them from gift card racks at Lowe’s and Home Depot if you’ve not already maxed out the $6,000 spending allowance during previous quarters.
With regards to home improvement stores, Lowe’s runs gift card deals every so often, so earning 5% cashback can make those deals even sweeter.
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.
A welcomed opportunity to use the Chase Freedom at EV charging stations and Buc-ee’s and Wawa on several toad trips. I’ve previously taken advantage of the gas station category to snag Wawa gift cards.