Chase Freedom Flex℠ and Chase Freedom® (no longer accepting new applicants) credit cardholders can activate bonus 5% cash-back categories each quarter.
Below, CNBC Select shares the cash-back calendar for 2024, plus how you can use a 5% cash-back card to your advantage.
Chase Freedom cash-back calendar for 2024
Chase has just announced the bonus 5% cash-back categories for the second quarter of 2024. The categories for the rest of the year will be released soon.
- January to March (closed): Grocery stores**, fitness clubs and gym memberships and self-care and spa services
- April to June (activate now): Hotel stays and experiences, restaurants, qualifying Amazon purchases
- July to September: Announcing on June 15
- October to December: Announcing on September 15
In the second quarter of 2024, bonus rewards stack with the card's regular always on cash-back rates — up to a limit. Freedom Flex cardholders can earn up to a whopping 9% on hotel stays and experiences booked through Chase Travel, up to 7% cash back at restaurants and up to 5% cash back on select Amazon purchases.
** Excludes larger stores that sell a wide variety of goods and groceries, such as warehouse clubs.
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 the Chase Ultimate Rewards®,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 the first 3 months from account opening. Plus, earn 5% cash back on combined gas station and grocery store purchases (excluding Target and Walmart) on up to $12,000 spent in the first year.
Annual fee
$0
Intro APR
0% for the first 15 months from account opening on purchases and balance transfers
Regular APR
20.49% - 29.24% variable
Balance transfer fee
Intro fee of either$5or3%of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either$5or5%of the amount of each transfer, whichever is greater.
Foreign transaction fee
3%
Credit needed
Excellent/Good
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.
Read our Chase Freedom Flex℠ review.
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 Unlimited® 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 theChase Sapphire Preferred® Card, you can convert the cashback earned with a Freedom card intotransferrable Ultimate Rewards® pointsand potentially receive more value from your rewards.
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 different 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 fee
$0
Intro APR
0% for 15 months on purchases
Regular APR
17.24% to 28.24% Variable
Balance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Foreign transaction fee
None
Credit needed
Good / Excellent
*See rates and fees, terms apply.
Read our Discover it® Cash Back review.
Citi also launched its own 5% cash-back card, theCiti 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® Card
Learn More
On Citi's secure site
Rewards
5% cash back on purchases in top eligible spend category each billing cycle, up to the first $500 spent (then 1%); unlimited 1% cash back on all other purchases
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 fee
$0
Intro APR
0% APR on balance transfers and purchases for first 15 months
Regular APR
19.24% - 29.24% variable
Balance transfer fee
5% of each balance transfer ($5 minimum)
Foreign transaction fee
3%
Credit needed
Excellent, Good, Fair
See rates and fees. Terms apply.
Read our Citi Custom Cash® Card review.
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?
TheChase Freedom Unlimited® offers rotating categories to existing customers and 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. This
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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Read more
Chase Freedom Flex vs. Chase Freedom Unlimited: Which is the best card?
Discover's 5% cash-back calendar
How the Chase 5/24 rule works and what it means for your Chase credit card applications
The Chase Freedom® is not currently available to new cardholders. Please visit our list of thebest cash-back cardsfor 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.
