【Updated 2022.10】Q4 is here, and it’s time to rotate the cards in your wallet. Q4 is pretty good overall, with no category overlap. Just keep in mind: for Discover, you need to activate the 5% category before you’ll earn 5%; for Chase, as long as you activate before the end of December, purchases made earlier in the quarter will be applied retroactively.

  • Discover: Amazon.com and Digital Wallets: Amazon is an old friend, and the digital wallets include Apple Pay, Google Pay, Samsung Pay, and Garmin Pay, so this one should be straightforward too..Activation link
  • Chase Freedom family: Walmart, PayPal. Walmart stores sell plenty of third-party gift cards, including Visa gift cards, so maxing out the 5x is still pretty easy; PayPal is also widely accepted (activation link, you can also activate by signing in to your account)
  • Citi Dividend: restaurants and travel, although I’m sure most people have already maxed out the pharmacy/grocery quarter. Citi official activation link

2022 Quarterly 5x Cashback Summary

Some credit cards offer not only the usual 1% cash back on everyday spending, but also different 5x bonus categories each quarter—that is, 1%x5=5% cash back. Using the right card for the right category lets us save as much as possible. Of course, with a little flexibility, these quarterly bonuses can even be stretched to cover all spending categories. Today, let’s summarize the cards with quarterly 5x cashback and their categories, plus how to make the most of that 5x bonus. This article mainly covers the most common cards with quarterly bonus categories:

  • Discover it (no annual fee, $100 sign-up bonus, double cash back in year one)
  • Chase Freedom (discontinued, same categories as Flex)
  • Chase Freedom Flex (no annual fee, $200 sign-up bonus, 5x UR each quarter)
  • US Bank Cash+ (no annual fee, $200 sign-up bonus, choose 2 categories for 5% cash back each quarter, and 1 category for 2%)
  • Citi Dividend (no annual fee, no longer available)

Discover it

  • Q1: Grocery Stores and Fitness Club & Gym Memberships: grocery stores are a favorite for everyone, and they’re also a great place to find third-party gift cards
  • Q2: Gas Stations and Target: gas is self-explanatory, and Target is also a great place for third-party gift cards, including Amazon and Visa gift cards
  • Q3: Restaurants and PayPal: dining out; PayPal is widely accepted online
  • Q4: Amazon.com and Digital Wallets: Amazon is an old friend, and digital wallets include Apple Pay, Google Pay, Samsung Pay, and Garmin Pay
  • Quarterly 5x activation link: log in to your Discover account to activate, or activate here: activation link
  • Latest activation deadline: the 5% cash back only starts after activation
  • 5x cash back cap: 5% on the first $1,500 in purchases each quarter, then 1%
  • When cash back posts: after each statement closes
  • Check link: check how much of the $1,500 cap you’ve used (login required)
  • Card guide: Discover it card guide
  • Pros: no annual fee. For new cardholders, the quarterly 5% cash back can also be doubled, effectively making it 10% quarterly cash back

Chase Freedom/Flex

  • Q1: Grocery Stores (excluding Walmart and Target), eBay. Grocery stores are still excellent and also sell lots of third-party gift cards. For eBay, there are also plenty of third-party gift cards; make sure to buy directly on eBay and stick to large sellers such as PayPal Digital and giftcardmall, not individual listings.
  • Q2: Amazon and select streaming services (Disney+, Hulu, ESPN+, Netflix, Sling, Vudu, Fubo TV, Apple Music, Sirius XM, Pandora, Spotify, YouTube TV, HBO Max, Paramount+, Peacock, Showtime)
  • Q3: gas, car rentals, movie theaters, and select live entertainment. Not the most exciting category, but at least you can save some money on gas. You can also try buying gift cards inside stores like 7-Eleven to see whether they trigger 5x.
  • Q4: not yet announced
  • Quarterly 5x activation link: Chase Freedom official site
  • Latest activation deadline: activate before the 14th of the last month of each quarter, and all eligible spending from that quarter before activation will still earn 5x
  • 5x cash back cap: 5x on the first $1,500 in purchases each quarter, then 1x
  • When cash back posts: after each statement closes
  • Check usage: check quarterly 5x usage (login required)
  • Card guide: Chase Freedom Flex
  • Pros: no annual fee. The 5x rebate is actually UR points. If you have a premium Chase card, those points can be transferred to airline miles and hotel points, and redeemed for up to 1.6 cents per point in value. In other words, quarterly 5x UR = 8% cash back.

Citi Dividend

  • Q1: Amazon.com, Select Streaming Services (Amazon Prime Video, Amazon Music, Apple Music, CBS All Access, Disney+, AT&T TV NOW, ESPN+, fuboTV, HBO Max, NBA League Pass, Netflix, Pandora, Showtime, Sling TV, Spotify, Starz, SiriusXM, Vudu, YouTube Red, YouTube TV, and Tidal). Right off the bat it’s Amazon—Citi really went all in! If you can’t use it all, you can consider the Visa gift cards and third-party gift cards above. Citi’s total cap is calculated on an annual basis, so if you have a lot of spend, you can use this card up and then put it away.
  • Q2: Drugstores and grocery stores, always welcome categories. There are lots of third-party gift cards available
  • Q3: Gas Stations, Home Improvement stores
  • Q4: Not yet announced
  • Quarterly 5x activation link: Citi official activation link
  • Latest activation deadline: You only start earning 5% cash back after activation
  • 5x cash back limit: Up to $300 in cash back per year, then 1%
  • Cash back posting time: After each statement posts
  • Card intro: Citi Dividend (No longer available for direct application)
  • Pros: No annual fee. There is no quarterly cap, so when a quarter has especially good 5% categories, you can easily max out the yearly $300.

US Bank Cash+

  • Quarterly 5% category selection: If you have other 5x cards, for Q1 it’s probably best to choose cell phone (can overpay), Bookstore (back-to-school books), or fast food (covers part of dining spend). Of course, it depends on your spending habits
  • Quarterly 5x activation link: US Bank official site
  • Latest activation deadline: Unknown (readers who have this card are welcome to share)
  • 5x cash back limit: The first $2,000 per quarter earns 5x, and anything after that earns 1x
  • Cash back posting time: Unknown (readers who have this card are welcome to share)
  • Card intro: US Bank Cash+ credit card (No annual fee, $125 sign-up bonus, choose 2 categories for quarterly 5% cash back, 1 category for 2%)
  • Pros: No annual fee. Flexible category choices, so you can play category swapping

How to make the best use of these quarterly 5x offers

Everyday card users

For everyday card users, just learn which categories earn 5x and bring the right card for each quarter.

Advanced card users

Because each quarter’s 5x cash back only applies for that quarter, even if you have all of the cards above, you still can’t cover every type of spending throughout the year, such as gas and grocery shopping. In that case, you can use category swapping to get 5% cash back in other categories. For example, when grocery stores have 5x, buying gas gift cards to stock up for later quarters can give you 5x on gas for the remaining quarters. Drugstores also sell gift cards for various other merchants (for example, Amazon, eBay, etc.). Department stores such as Sears also sell lots of gift cards for other merchants, and Best Buy has many as well. Use gift cards as a bridge so that all of your spending earns 5% cash back! For a detailed analysis, see:

MS users

  • Gas stations: 7-Eleven may have Vanilla cards, and the in-store code is also gas stations
  • Drugstores (CVS, Walgreens): PayPal My Cash, various Vanilla cards
  • Sears, Bed Bath & Beyond, Best Buy: $200 Visa gift cards, with PIN

For Dividend, drugstores are best because the fee is 1%.

Appendix