Here’s the Chase Freedom 5% cash-back calendar so you can plan your spendingChase Freedom cash-back calendar for 2024
Chase has just announced the bonus 5% cash-back categories for the third quarter of 2024.
January to March (closed): Grocery stores, fitness clubs and gym memberships and self-care and spa servicesApril to June (closed): Hotel stays and experiences, restaurants, qualifying Amazon purchasesJuly to September (activate now): Gas stations, EV charging, select live entertainment and movie theatersOctober to December: Announcing on September 15, 2024
Chase Freedom Flex®Rewards
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through Chase Travel℠, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases
Welcome bonus
Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
Annual feeIntro APR
0% for the first 15 months from account opening on purchases and balance transfers
Regular APRBalance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction feeCredit needed
Member FDIC. Terms apply. Information about the Chase Freedom Flex® has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
How 5% cash-back credit cards work
To benefit from 5% cash back, you’re required to activate bonus categories each quarter. Once you activate bonus categories, you can start earning 5% cash back. Chase allows you to save activation reminders to your calendar and set up email alerts. You can also activate the bonus categories by clicking here and entering your last name, the last four digits of your card number and your zip code.
If you want to participate in the rotating 5% categories that Chase offers, you’ll need to apply for the Chase Freedom Flex®, as the Chase Freedom® is no longer available for new applications. The Freedom Flex ranks as one of the best cash-back cards with no annual fee and earns cardholders 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining at restaurants (including takeout and eligible delivery services) and drugstores and 1% on all other purchases.
Pro tip: Although billed as cash-back cards, if you have another Chase-Ultimate-Rewards®-earning card like the Chase Sapphire Preferred® Card, you can convert the cashback earned with a Freedom card into transferrable Ultimate Rewards® points and potentially receive 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth over $750 toward travel.
Is 5% cash back unlimited?
There are limits to how much spending qualifies for 5% cash back each quarter. After you spend a combined $1,500 in the bonus categories, the cash-back rate drops to 1%. This maximum spending requirement resets every quarter.
All other purchases made outside the bonus categories automatically earn 1% cash back. If you’re looking to optimize how many points you can earn, we suggest using an alternative cash-back or rewards credit card for spending outside the bonus categories, so you earn more than 1% cashback.
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Other 5% cash-back cards to consider
Discover offers several no-annual-fee credit cards that allow cardholders to enroll every quarter to earn 5% cash back in various categories, up to a $1,500 quarterly maximum (then 1% cash back) throughout the year. Its most popular option is the Discover it® Cash Back and Discover will currently match all the cash back new cardholders earned at the end of their first year.
Discover it® Cash Back
On Discover’s secure site
Rewards
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases-automatically.
Welcome bonus
Discover will match all the cash back earned for all new cardmembers at the end of your first year.
Annual feeIntro APR
0% for 15 months on purchases and balance transfers
Regular APRBalance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)
Foreign transaction feeCredit needed
Citi also launched its own 5% cash-back card, the Citi Custom Cash® Card, which is a competing option for other 5% cards because you don’t need to activate each quarter.
Cardholders of the Custom Cash Card can get 5% cash back on purchases in their top eligible spend category each billing cycle, up to the first $500 spent (then 1%). The card also offers a welcome bonus with a pretty low spending threshold: Earn $200 in cash back after spending $1,500 on purchases in the first six months of account opening (fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back).
Citi Custom Cash® CardRewards
Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025.
Welcome bonus
Earn $200 in cash back after you spend $1500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® points, which can be redeemed for $200 cash back.
Annual feeIntro APR
0% APR on balance transfers and purchases for first 15 months
Regular APRBalance transfer fee
5% of each balance transfer ($5 minimum)
Foreign transaction feeCredit needed
FAQs
When does Chase announce the Freedom bonus categories?
Chase announces its rotating 5% bonus categories one at a time, shortly before the new quarter begins.
How much can I earn with the Freedom bonus categories?
The Chase Freedom 5% cash-back bonus is limited to $1,500 in combined spending per quarter, meaning you can earn up to $75 in cash back quarterly — and up to $300 annually.
Does the Chase Freedom Unlimited® have a 5% cash-back category?
The Chase Freedom Unlimited® does not offer rotating 5% cash-back categories but earns unlimited 5% cash back on travel booked through Chase Ultimate Rewards®, as well as 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and 1.5% on all other purchases.
What is the Chase 5/24 rule?
The Chase 5/24 rule is an unofficial policy that restricts you from being approved for a Chase credit card if you’ve opened five or more personal credit cards (from any card issuer) within the past 24 months.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best credit cards.
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The Chase Freedom® is not currently available to new cardholders. Please visit our list of the best cash-back cards for alternative options.
For rates and fees of the Discover it® Cash Back, click here
Information about the Chase Freedom® has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
