Summer may be half over, but it’s not too late to take advantage of summertime cash back offers on popular cash back rewards credit cards like Discover and Chase Freedom.
These rotating category cash back credit cards give a 5% cash back bonus in select categories that change every quarter. Reward categories are seasonal – so in the winter months, movies and restaurant delivery might give 5% back, while in the springtime, home improvement rewards abound.
Summer is road-trip season for many, and both Discover and Chase Freedom give cardholders 5% cash back on all gasoline purchases from July 1 through September 30. That leaves more than a month to get up to $75 on gas purchases.
For both Chase and Discover, the maximum cash back in the selected category is $75 per quarter, or 5% back on $1,500 in spending. Beyond that, all purchases, including gas, earn the standard unlimited 1% cash back.
Chase Freedom members also save at Kohl’s department stores during the current quarter, so cardholders can save on their back-to-school shopping. Kohl’s carries clothing, backpacks, and other gear needed for heading back to the classroom.
To qualify for the 5% cash back rewards, customers’ accounts must be in good standing, and they must activate the rewards, either at their account center online or by contacting the card’s customer service department. Phone numbers can be found on the back of credit cards.
Fourth quarter savings focused on holiday shopping
Starting September 1 for Discover Card members and September 15 for Chase Freedom cardholders, sign up to get extra cash back during the last quarter of 2014. October 1 through December 31, Discover offers 5% back on up to $1,500 in online purchases and in department stores. Chase Freedom will give 5% back (also limited to the first $1,500 in purchases) at Amazon.com, Zappos.com, and select department stores.
Cash back rewards can be redeemed as a statement credit, directly deposited to the cardholders’ checking accounts, or used for gift cards. Charitable donations are another option, for those who want to share their rewards with their favorite non-profit foundation.
Shopping at online credit card malls – the Chase Ultimate Rewards Mall or the ShopDiscover online portal – is another way to earn extra cash back. People can also use their cash back rewards to make purchases at their card’s online mall.