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Chase offers perhaps the best-known cash-back credit card with rotating 5% categories — Chase Freedom — but Discover runs a similar program with two of its own cash back cards: Discover It and Discover More. The issuer has now opened registration for its third quarter bonus category, and while Chase Freedom cardholders can earn 5% back (or 5x points) on Walgreens, Lyft and gas purchases in Q3 of 2018, Discover’s bonus will be arguably far more rewarding for some.
From July 1 through September 30, Discover it and Discover More cardholders can earn 5% back at all restaurants, including sit-down establishments, cafes, cafeterias and fast-food businesses. You’ll need to register here before you can earn the bonus. Keep in mind that you won’t receive retroactive cash back for purchases made before you registered, so you should register right now if you have one of these cards.
While 5% back can be enticing, keep in mind that unlike with Chase Freedom, Discover rewards can’t be converted to transferrable points. Also, some cards may offer a greater return even without the rotating bonus — Chase Sapphire Reserve will net you 3x Ultimate Rewards points on all travel and dining, for example, which works out to 6.3% back based on our most recent valuations.
If you don’t have Chase’s $450 premium card, Discover’s offer is likely your best bet for Q3, but it makes sense to comb through your wallet just to be sure.
Featured image by Michael Berman via Getty Images.