Compared to previous years, Discover has changed its policy from releasing its featured bonus categories all at once, every year, to one quarter at a time.
In previous years, Discover used to announce the cash back calendar for the Discover it® Cash Back and Discover it® Student Cash Back all at once, near the end of the year, for the upcoming calendar year. However, since the start of 2023, Discover has changed its policy to emulate Chase’s cash back calendar and will announce the categories featured on its calendar on a quarterly basis.
The edge that Discover previously had over Chase, in releasing its bonus categories all at the same time gave cardholders an idea of what to expect, allowing them to plan their purchases accordingly. Now, consumers can only base their rewards hopes on previous years’ calendars and wish for the best.
Still, the rewards structure on the Discover it Cash Back remains as generous as ever. The card earns 5 percent cash back on purchases, after enrollment, on up to $1,500 in combined purchases per quarter, then 1 percent. You can also earn 1 percent on general purchases.
Discover 5% cash back calendar 2023
Here’s a look at Discover’s cash back calendar for this year:
Discover 5% cash back calendar 2022
To compare, here’s what the Discover it Cash Back calendar looked like last year.
Read on for everything you need to know about Discover’s current cash back bonuses, including our suggestions to maximize the 5 percent rate and how Discover’s bonus categories compare with Chase’s.
What is included in the restaurants category?
In this category, cardholders can earn bonus cash back at any restaurants and cafes where they dine in person. Other eligible places include cafeterias, fast-food locations and restaurant delivery services.
What is included in the wholesale clubs category?
Whether you’re shopping for toilet paper or a large pack of Gatorade, most purchases made at wholesale clubs qualify under this category. Affiliated products may not be eligible such as delivery services, travel and cell phones.
Tips for maximizing your bonus in Q2 2023
- Remember to activate your bonus categories the first day you’re able to. You can easily enroll by logging in to your Discover account through the issuer’s cash back calendar page.
- Do the majority of your household and food shopping, from shampoo to cleaning supplies to fresh produce, at wholesale clubs. And don’t forget to check out with your rotating category Discover card.
- From April to the end of June, be sure to pay for all dining meals with your Discover it Cash Back or Discover it Student Cash Back card. Whether you’re grabbing a burger at your favorite local diner, snagging a coffee at your neighborhood Starbucks or getting sushi delivered to your door, you’ll earn 5 percent cash back.
Discover vs. Chase bonus categories
Chase also offers a 5 percent cash back bonus in categories that rotate quarterly, and from April to June of this year, Chase Freedom Flex℠ cardholders can earn 5 percent cash back at Lowes and Amazon upon activation.
Chase vs. Discover cash back categories 2023
Chase Freedom Flex
Discover it Cash Back
Which card offers the better deal?
If you’re looking to apply for either card as the year kicks off, the right option for you (strictly thinking about categories) comes down to where and how you’d prefer to do a majority of your shopping throughout the year.
Truthfully, it’s a better idea to take into account all that each card has to offer — like welcome bonuses, intro APRs and additional card perks — before making a decision to apply. Comparing historical card bonus categories is also a great way to determine which card is more likely to offer bonus categories that fit your lifestyle in the future.
If you’re deciding between which Discover card you should apply for, the choice is rather simple. Designed for students, the Discover it Student Cash Back has an identical rewards structure to the Discover it Cash Back, but it requires applicants to be enrolled in a two- or four-year university and is geared toward those with no credit history. However, working adults have no need to apply for the Student Cash Back, especially since student credit cards tend to assign lower credit limits.
Great for cash back enthusiasts, the Discover it Cash Back offers robust rewards, a 15-month 0 percent APR on balance transfers and new purchases (17.24 percent to 28.24 percent variable APR thereafter) as well as a Cashback Match™, which will match all the cash back you’ve earned in your first year, dollar for dollar. Keep in mind though that the Discover it Cash Back is meant for consumers with a good to excellent credit score (FICO score of at least 670), so those below that may struggle to qualify.
*Information about the Chase Freedom Flex* has been collected independently by CreditCards.com. The issuer did not provide the details, nor is it responsible for their accuracy.