Armed with the right credit card, savvy and responsible consumers can end up earning large amounts of cash back on purchases. There is a select group of credit cards that offer 5% cash depending on different times of the year. In this new quarter, these cash back credit cards are placing emphasis on making homes look nicer during the spring season.
For the second quarter, the Chase Freedom card caters to consumers who will spend time dining out as the weather gets warmer. Additionally, the card allows customers to earn more cash back on their home improvement projects, but only when supplies are bought at Lowe’s stores.
From April 1 to June 30, Chase Freedom cardmembers will earn 5% cash back on the first $1,500 spent at restaurants and Lowe’s home improvement stores combined. Any amount after that will earn the standard 1% cash back.
This quarter, Citi Dividend is all about making the home look better. Every single 5% cash back category aims to help cut down on the effective costs of improving your home.
From April 1 to June 30, Citi Dividend cardholders can earn 5% cash back at home furnishing stores, home & garden stores and The Home Depot stores.
The Citi Dividend doesn’t limit the amount of cash back you can earn on the bonus categories per quarter. However, the card has a flat $300 cash back limit per year — the cap includes the cash back that you would earn from 5% cash back categories and 1% cash back purchases.
Like Citi Dividend, the Discover it card is focusing on home improvement during the new quarter. Purchases of home supplies, furnishing and common household items will generate the most cash back for consumers with Discover it.
From April 1 through June 30, Discover it cardmembers earn 5% at home improvement stores, furniture stores and Bed Bath & Beyond stores on the first $1,500 spent in these categories during the quarter after you sign up. Any amount after that will earn the standard 1% cash back.
The enrollment hurdle
All three credit cards require cardholders to sign up for the 5% cash back categories. Forgetting to enroll means that they miss out on the bonus cash back.
Chase Freedom is more lenient with enrollment — cardmembers earn bonus cash back for qualifying purchases for the entire quarter as long as they sign up by the enrollment deadline. Citi Dividend and Discover it will only dole out the bonus cash back on qualifying purchases made after cardmembers have signed up.
If you’re considering any of the above cards, you want to take a look at each of their 5% cash back calendars. Chase Freedom is the only card that reveals the exact 5% cash back categories for all four quarters. Citi Dividend and Discover it only share the themes for upcoming quarters.