Discover Announces 5% Bonus Categories for 4th Quarter of 2023
Amazon and Target logos

Discover Announces 5% Bonus Categories for 4th Quarter of 2023

This morning, Discover revealed the spending categories that cardholders will be able to earn up to 5% back on starting October 1st, 2023.

About the Q4 5% bonus categories:

During the fourth quarter of 2023 — which runs from October 1st through December 31st — Discover It cardholders can earn up to 5% back on purchases at Target as well as on Amazon.com. To be clear, this includes online and in-store purchases for Target in addition to Amazon.com purchases.

While Discover often changes its quarterly bonus categories, Amazon’s fourth-quarter inclusion has become a staple of the card. In fact, looking at past calendars, the online retailer has been featured by name since at least 2015 (calendars before that included more generic offerings such as “online shopping” that would have covered Amazon as well). Similarly, Target has also regularly been included in Discover’s bonus categories, most recently being a part of the Q2 2022 line-up where it appeared alongside “gas stations.” Incidentally, this exact category combo of Target and Amazon.com was previously utilized in Q4 2017.

Discover It cardholders can now activate this Q4 offering on the Discover site or app. Once activated, starting October 1st, cardmembers will earn 5% back on qualifying purchases from these retailers. However, the 5% bonus is capped at a total of $1,500 in combined bonus category spending. This means that cardholders can earn up to $75 in cashback from this bonus category during the quarter.

For context:

This latest category reveal finally completes Discover’s 2023 calendar. Previously, the issuer announced the majority of its bonus categories before the new year began but, this time around, it elected to uncover them one month prior to each new quarter’s beginning. Currently, until the end of the third quarter, It cardholders can continue to earn up to 5% back on gas station and EV charger purchases as well as on purchases made using digital wallets such as Apple Pay, Samsung Pay, and Google Pay.

What they’re saying:

Announcing next quarter’s categories, Discover’s VP of Rewards and Product Strategy Geeta Chandan said, ” The 5% Cashback Bonus categories this quarter offer some great ways to earn rewards on holiday shopping both in-store and online. Whether you prefer the experience of browsing the aisles in store or the convenience of shopping online, these 5% Cashback Bonus categories hold something for everyone. We continue to focus on giving cardmembers more rewards in the places they already shop and believe 5% cash back at Amazon.com and Target is great for their holiday shopping needs.” 

My thoughts:

As I mentioned, with Amazon being a part of every Q4 bonus category in the years that I’ve had my Discover It card, there was little doubt that it would appear again this year. On top of that, the inclusion of Target satisfies me as a cardholder — and I’m thankful that it’s not exclusive to Target.com orders as it has been in some previous years. Overall, despite the predictability of next quarter’s categories, I still give Discover a thumbs up on their selections. Looking ahead, while I suspect that they’ll continue this quarterly reveal strategy, maybe just maybe they’ll go back to announcing the full calendar at once.

Author

Kyle Burbank

Head Writer ~ Fioney
Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Fioney's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

Other Articles by Kyle Burbank

2 Qatar Airways Privilege Club Credit Cards

Cardless Launches Two Qatar Airways Co-Branded Credit Cards

The FinTech startup Cardless is partnering with Qatar Airways to offer two new co-branded cards to the American market. About the cards: Recently, Cardless introduced its two latest rewards credit cards: The Qatar Airways Privilege Club Signature Card and the Qatar Airways Privilege Club Infinite Card. Starting with the Signature card, it earns 4x Avios on Qatar Airways purchases plus 2x Avios on dining purchases, and 1x Avios on all...
Yendo logo and credit card

Vehicle-Secured Credit Card Company Yendo Raises $165 Million

A FinTech that offers the first-ever credit card secured by a customer's vehicle has announced its latest round of funding. About the round: This week, Yendo announced that it had raised $165 million. However, this includes $150 million in debt financing and $15 million in equity. The debt portion was led by i80 group, while the strategic investors that participated in the equity round were not disclosed. Yendo previously raised...
woman holding her hands to her temple thinking

Lessons From a First-Time Home Buyer: Worst Time to Buy a House? There Are Always Exceptions

If you've been thinking about buying a house, looking at the news lately has likely disheartened you. As CNN reports, a recent Gallup poll found that 76% of Americans believe it's a bad time to buy — with only 21% saying it's a good time. There are several reasons for that sentiment, with the top two being the combination of high interest rates and high home prices. So, are you...
The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories: Amazon.com, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...