Last updated on July 23rd, 2020
The clocks have already sprung forward, but there’s more to the change of seasons than just the time. This is especially true for those with cash back credit cards like the Discover It or the Chase Freedom. Both cards have new 5% categories that will be active on April 1st. Here’s what you need to know about the new 5% cash back calendar categories – and how to make the most of them.
5% Cash Back Categories
So, what are the Discover 5% cash back categories? Starting April, Discover It Cash Back cardholders earn 5% back on gas stations, wholesale clubs, plus Uber and Lyft. Here’s a breakdown of Discover’s CashBack Bonus Calendar:
- April – June: Grocery stores, Walgreens, and CVS
- July – September: Uber and Lyft, gas stations, and wholesale clubs
- October – December: Restaurants and PayPal
- January – March: com, Walmart.com, and Target.com
Chase isn’t as forthcoming as Discover when it comes to their 5% cash back calendar. The issuer only reveals their latest category in the weeks before it takes effect. The April through June categories include grocery stores and fitness club and gym memberships.
Chase’s 5% calendar is as follows:
- January – March: Gas stations, internet, cable and phone services, and streaming services
- April – June: Grocery stores, fitness club, and gym memberships
- July – September: TBD
- October – December: TBD
Chase and Discover aren’t the only credit card issuers with cash back categories changing April 1st. Amalgamated Bank of Chicago (ABOC) also has a rewards card with five times the earning. The ABOC Platinum Rewards Mastercard earns 5X points on select purchases, with home improvement, home supply, warehouse, and wholesale club purchases earning extra rewards next quarter.
ABOC Rewards categories break down as follows:
- January – March: Qualifying utilities, cell and cable service, Amazon Prime and streaming subscription services purchases
- April – June: Grocery stores, restaurants, and various forms of transportation
- July – September: Airlines, cruises, hotels, car rentals, and travel agency purchases, as well as gas, tolls, and ride shares
- October – December: Qualifying department and electronics stores, superstores, Amazon.com, and other major online retailers
How to Get the Most Value Out Of the 5% Categories
Because of the current situation, the cash back calendars for quarter two are somewhat hit-and-miss. The 5% back Chase cardholders earn fitness clubs and gym memberships, for instance, is worthless during the coronavirus pandemic.
Fortunately, the 5% back on grocery stores is an exceptional value. Similarly, the 5% back Discover It cardholders earn from gas stations and wholesale clubs is particularly nice. Also helpful is the 5% back with Uber, since this also includes UberEats. ABOC also offers value, as the 5X categories include home stores and warehouse clubs.
These bonus categories can help those affected by the COVID-19 outbreak save money on the supplies they need. Paramount in these needs is the 5% back on warehouse clubs and grocery stores. The addition of 5% back on UberEats, however, is a great benefit – especially since delivery is one of the only ways to get meals outside of home cooking or pre-cooked meals at the supermarket.