![]() Advanced points and miles players will likely combine those earnings with a premium Chase Ultimate Rewards®-earning card like the Chase Sapphire Reserve®, the Chase Sapphire Preferred® Card or the Ink Business Preferred® Credit Card where those rewards could be worth up to 25% to 50% more if used to book travel through the Ultimate Rewards site, used to Pay Yourself Back or transferred to hotel and airline partners. For a card with no annual fee, that’s a great value. Of course, you should never buy things you don’t need simply to earn rewards and there is likely to be a time when the categories for a particular quarter simply won’t match up with your spending habits.īut when you can hit that $1,500 spending cap, you’ll earn back $75 that quarter for your efforts-meaning it’s possible to earn a maximum of $300 for the year just on the 5% categories. 2023 Quarterly Bonus Categories for the Chase Freedom Flex and the Discover it Cash BackĮarning cash back on a no-annual-fee credit card is a terrific money-saver-5% cash back sure beats 1% cash back. If you own both the Chase Freedom Flex℠ * and the Discover it® Cash Back and want to see which card offers bonuses in which categories for the quarter, or if you’re trying to decide which card to apply for, it can be helpful to see a side-by-side comparison. ![]() Related: Should You Have Multiple Freedom Flex and Freedom Unlimited Cards? Chase Cash Back Calendar Vs. When you’ve reached that spending cap, you can switch to using a card that earns a higher rate than the 1% you’ll get on the Freedom Flex for purchases outside of the bonus categories. This is particularly helpful if you paired your Freedom with another card. Your Chase account includes a graphic that measures how much you have left before you’ve hit the maximum earnings of $75. How To Maximize 5% Cash BackĪfter you’ve reached the $1,500 cap for the quarter, all other spending in the eligible bonus categories will earn 1%-a rate that can easily be bested by other cash-back cards. If you’re spending above your means just to maximize the quarterly bonus categories, you’ll pay far more in interest than the value of any rewards earned. It’s important to know that it only makes sense to maximize the bonus categories if you can pay your credit card in full and on time every month. Or, if you have the storage space, max out that $1,500 cap buying household staples like paper towels, toilet paper and cleaning products for the year. So you might want to put a few bucks on a gift card to cover your next night out to dinner or a gift for a special occasion. This is where it’s time to think outside the box and perhaps fulfill some of your shopping needs with the bonus categories in ways you may not normally have considered.įor example, if the bonus categories include grocery stores, many supermarkets will typically sell gift cards to places like Amazon, restaurant chains and retail stores. But maybe your spending doesn’t align with where you can earn 5%. Now that you’ve activated the 5% bonus categories, it’s time to go shopping. In the example below, the bonus categories for the quarter are grocery stores (excluding Target and Walmart) and eBay. To do so, log into your Freedom Flex account and click on the small print where it says details next to where it says 5% cash back and the current months in the quarter.Īfter you click on details, you’ll get to a screen with a button to click that activates or opts you into that quarter’s 5% bonus earnings. You have to activate the bonus categories on the card each quarter. There’s a small, yet crucial step in order to score that 5% earn rate. In the case of the Chase Freedom Flex, only the first $1,500 in spending in bonus categories earns the 5% reward. On the first day of each quarter, be sure to activate rewards by logging into Chase’s app or website and following instructions below. ![]()
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