The issuer just released its Q3 bonus category — while Chase Freedom cardholders can earn 5% back (or 5x points) on Walgreens, Lyft and gas purchases, Discover’s bonus will be arguably far more rewarding for some.
From July 1 through September 30, eligible 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.
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.
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