Personal Finance Credit Cards
Written by Katherine Fan
- Q2 2024 bonus categories
- FAQs
Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate credit cards to write unbiased product reviews.
The information for the following product(s) has been collected independently by Business Insider: Chase Freedom Flex®, Chase Freedom®, Citi Custom Cash℠ Card, Citi Strata Premier℠ Card, Citi Prestige® Card. The details for these products have not been reviewed or provided by the issuer.
- Q3 2024's Chase 5% bonus cash back categories are gas, EV charging, movies, and live entertainment.
- Q3 begins July 1 and ends September 30. Activateby September 14 to begin earning bonus cash back.
- Competitor Discover's 5% cash back categories for Q3 2024 are groceries and Walmart purchases.
Introduction to Chase Freedom 5% cash back
Chase Freedom Flex® cardholders can earn 5% bonus cash back each quarter with the click of a button.
Every quarter, cardholders can earn 5% cash back (5x points) on up to $1,500 spent in combined purchases across designated categories (then 1%). Bonus categories change every three months, and cardholders must activate the bonus before they can begin earning extra points.
The Q3 2024 bonus categories are gas and EV charging, movies, and ticketed live entertainment events such as concerts and shows.
These rotating categories also apply to cardholders who have a Chase Freedom® credit card, which is no longer available to new applicants.
Chase Freedom Flex® categories for Q3 2024
Chase Freedom Flex®
Insider’s Rating
Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.
4.4/5
Perks
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Earn 5% cash back on travel purchased through Chase Travel℠. Earn 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services. Earn unlimited 1% cash back on all other purchases.
Annual Fee
$0
Intro APR
0% intro APR on purchases and balance transfers for the first 15 months
Regular APR
20.49% - 29.24% Variable
Intro Offer
$150 bonus (received as 15,000 bonus points) after you spend $500 on purchases in the first three months from account opening
Earn $150 bonus
Recommended Credit
Good to Excellent
Pros
- No annual fee
- Generous bonus cash-back categories
- Great welcome bonus
Cons
- Booking through Chase Travel℠ can restrict outside earning potential
- Varying percentages and rotating calendar categories require extra attention
- 3% foreign transaction fees
Insider’s Take
The Chase Chase Freedom Flex® is a great pick if you want one of the best no-annual-fee cards with big earning potential and impressive benefits. It's an even better choice if you already collect Ultimate Rewards points with other Chase cards, because you can combine your points and potentially get even more value.
Chase Freedom Flex review External link Arrow An arrow icon, indicating this redirects the user."
Chase Freedom 5% cash back overview
The Chase Freedom Flex® is Business Insider's top pick of the best 5% cash-back credit cards because it earns excellent returns on select spending categories each quarter. Cardholders earn rewards in the form of Ultimate Rewards® points, which can be cashed out at a rate of 1 cent per point, or used for travel in far more lucrative ways.
That's why you can think of the Chase Freedom Flex® and Chase Freedom® bonus categories as earning you either 5% back or 5x points.
How the 5% cash back program works
Participating cardholders can earn $75 back, or 7,500 Chase Ultimate Rewards points, each quarter if they max out the $1,500 of combined bonus spending.
The Chase Freedom Flex® and its cousin, the Chase Freedom® (no longer available to new applicants), both earn 5% on certain bonus purchases, which we'll discuss below.
Enrollment and activation
Cardholders must activate the quarterly bonus categories to be eligible for cash back or bonus Chase Ultimate Rewards points.
Chase announces new bonus categories approximately two weeks before the new quarter begins, and you'll receive an email prompting you to activate the promotion through your online account.
It's really easy to activate your 5% cash back: Just go to the Chase Bonus landing page and input your last name, the last four digits of your eligible Freedom card, and your five-digit zip code. You'll see a notification confirming your participation as soon as you submit the right responses.
Understanding Chase's rotating categories
Participating cardholders earn 5% cash back on eligible purchases in the form of 5 Ultimate Rewards points per dollar, on the first $1,500 spent across all bonus categories.
Cardholders must activate the promotion by opting in on the Chase Bonus landing page every quarter by the deadline. Otherwise, they will earn the standard 1% per dollar spent.
Quarterly bonus categories
Chase Freedom Flex categories change every quarter but typically focus on household categories such as Amazon or Whole Foods purchases, PayPal transactions, or travel expenses. You'll often see popular categories on rotation, such as groceries and gas.
2024 rotating categories calendar
These are the bonus categories for 2024:
Q3 2024: Gas and EV charging, movie theaters, and live entertainment
The Chase Freedom® and Chase Freedom Flex® 5% bonus categories for Q2 2024 are:
- Gas and EV charging
- Movie theaters
- Live entertainment
Qualifying purchases made between July 1 and September 30, 2024, will earn 5% cash back per dollar: 1 base point, plus 4 bonus points.
Q3 2024: The fine print
Gas and EV charging
- Qualifying merchants sell automotive gasoline either at the pump or inside the station, and may or may not sell other goods or services at their location.
- Truck stops, boat marinas, oil and propane distributors, and home heating companies do not qualify.
- Residential electric vehicle charging is not included in this category.
- Electric vehicle charging equipment purchases and servicing for any use, including residential or commercial, do not qualify.
Live entertainment
- Qualifying merchants sell tickets for live in-person entertainment such as major sporting events, zoos and aquariums, concerts, theatrical productions, museums, tourist attractions and exhibits, amusem*nt parks, circuses, carnivals, bands, and entertainers. Ticket agencies selling on behalf of the entertainment venue are included.
- Some merchants that sell tickets for in-person entertainment are not included in this category, such as bowling alleys, horse racing tracks, casinos, and dance hall/clubs.
- Purchases made through a hotel or concierge, or excursions or purchases as part of a travel package do not qualify.
Q2 2024: Amazon and Whole Foods, restaurants, and hotels
The Chase Freedom® and Chase Freedom Flex® 5% bonus categories for Q2 2024 were Amazon (including Amazon Fresh and Whole Foods), hotels, and restaurants.
During this quarter, Chase Freedom Flex® cardholders earned 9% back on hotels booked via Chase Travel℠ by stacking the rotating bonus with the card's built-in 5x on hotels booked via Chase Travel℠. Similarly, flights booked during this time earned 7% per dollar, thanks to the bonus 2% this card earns on travel: 1% base cash back + 2% cash back for travel + 4% additional cash back per dollar spent on a Q2 rotating category.
Q1 2024: Groceries, gym/fitness, self-care and spas
The bonus categories for Q1 2024 were grocery stores, fitness and gym club memberships, self-care and spa services.
2023
The quarterly bonus categories for 2023 were:
- Q1: Grocery stores, Target, and fitness club and gym memberships
- Q2: Amazon and Lowe's
- Q3: Gas stations, EV charging, and select live entertainment
- Q4: Wholesale clubs, select charities, and PayPal
2022
- Q1: Grocery stores (excluding Walmart and Target) and eBay
- Q2: Amazon and select streaming services
- Q3: Gas stations, rental car agencies, movie theaters, and select live entertainment
- Q4: Walmart and PayPal
2021
- Q1: Cable, internet, and phone services, wholesale clubs, and select streaming services
- Q2: Gas stations and home improvement stores
- Q3: Grocery stores (excluding Walmart and Target) and select streaming services
- Q4: Walmart and PayPal
2020
- Q1: Gas stations, internet, cable, and phone services, select streaming services
- Q2: Grocery stores, fitness club and gym memberships, select streaming services
- Q3: Amazon and Whole Foods purchases
- Q4: Walmart and PayPal
2019
- Q1: Gas stations, tolls, drugstores
- Q2: Grocery stores and home improvement stores
- Q3: Select streaming services and gas stations
- Q4: Department stores, PayPal, and Chase Pay
Tips for maximizing rewards
There are many ways for Chase Freedom Flex® and Chase Freedom® cardholders to further maximize their earnings.
Strategic spending in bonus categories
Legacy Chase Freedom® cardholders will earn a flat rate of 1% on all purchases outside of the designated $1,500 bonus categories each quarter. However,Chase Freedom Flex® cardholders have much more opportunity to double-dip or even triple-dip on rewards.
Chase Freedom Flex® cardholders earn bonus points on the following purchases:
- 5x points on travel booked through Chase Travel℠ including airfare, hotels, car rentals, cruises, and excursions
- 3x points on restaurants, including takeout and eligible delivery services
- 3x points at drugstores
- 1x points on everything else
Combining cards for more rewards
Chase-branded credit cards are particularly flexible when it comes to pooling and maximizing rewards. Points earned on the Chase Freedom Flex® and the Chase Freedom® can be transferred to certain travel credit cards for significantly higher value.
The top cards for bonus value are the Chase Sapphire Reserve®, the Chase Sapphire Preferred® Card and the Ink Business Preferred® Credit Card.
Each Ultimate Rewards point is worth 1.5 cents when redeemed for travel through Chase using the Chase Sapphire Reserve®, while points transferred to the Chase Sapphire Preferred® Card and the Ink Business Preferred® Credit Card are worth 1.25 cents apiece.
Chase Freedom Flex card details
The Chase Freedom Flex® tops Business Insider's list of the best 5% cash-back credit cards — and this is why.
In addition to earning 5% back (5x points) on quarterly bonus categories, the Chase Freedom Flex® earns 5% cash back on travel purchased through Chase Travel℠, 5% back on Lyft rides through March 2025, 3% cash back on dining and drugstores, and 1% back on everything else.
The Chase Freedom Flex® is marketed as a cash-back card. But if you also have a Chase card that earns transferable Chase Ultimate Rewards® points, such as the Chase Sapphire Preferred® Card, you can combine rewards between the two cards and transfer them to Chase's airline and hotel partners.
The Chase Freedom Flex® is a no-annual-fee credit card. But it does charge foreign transaction fees, so don't use it for international purchases.
The Chase Freedom Flex® is currently offering $150 bonus (received as 15,000 bonus points) after you spend $500 on purchases in the first three months from account opening.
If you also have the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, you can transfer your bonus to travel partners like United Airlines, Hyatt, and Marriott.
5% cash back credit card alternatives
If you want to explore other options before committing to the Chase Freedom Flex®, there's a very similar Chase card to check out, as well as cash-back credit cards from other issuers that offer different bonus category structures.
Also with quarterly bonus categories: Discover it Cash Back
Discover it® Cash Back
On Discover's website
Insider’s Rating
Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.
3.8/5
Perks
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. Earn unlimited 1% cash back on all other purchases automatically.
Annual Fee
$0
Intro APR
0% intro APR for 15 months on purchases and balance transfers
Regular APR
18.24% - 28.24% Variable
Intro Offer
Unlimited Cashback Match™ – Discover will automatically match all the cash back you’ve earned at the end of your first year
Earn Unlimited Cashback Match™
Recommended Credit
Recommended credit score. Note that credit card lenders may use many different variations of credit score models when considering your application.
Good to Excellent
Pros
- From July 1 to September 30, 2024, you can earn 5% cash back atWalmart and grocery stores on up to $1,500 in purchases after enrollment, then 1%
- Discover will match your cash back earned at the end of your first account year
- No annual fee
Cons
- Cap on how much bonus cash back you can earn each quarter
- If the quarterly categories aren't convenient for you, you can earn more cash back with a different card
Insider’s Take
The Discover it® Cash Back is one of the best credit cards that offers 5% back on popular rotating categories up to a spending limit. Your rewards are matched by Discover after the first 12 months, and the card has no annual fee.
Discover it Cash Back review External link Arrow An arrow icon, indicating this redirects the user."
Product Details
- Intro Offer: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
- 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.
- Redeem your rewards for cash at any time.
- Apply and you could get a decision in as little as 60 seconds.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- Get a 0% intro APR for 15 months on purchases. Then 18.24% to 28.24% Standard Variable Purchase APR applies, based on credit worthiness.
- No annual fee.
- Terms and conditions apply.
This Discover it® Cash Back doesn't offer the ability to convert cash back into points for travel, but it does offer different 5% bonus categories each quarter of the year as well (from July 1 to September 30, 2024, earn 5% cash back atWalmart and grocery stores on up to $1,500 in purchases after enrollment, then 1%).
The Discover it® Cash Back earns 5% cash back on up to $1,500 in purchases each quarter when you activate the bonus categories. This earning rate is similar to that of the Chase Freedom Flex®, so Discover it® Cash Back cardholdersmax out at $75 back each quarter, or up to $300 back each year.
The card has no annual fee, and earns 1% back on all other purchases. New cardholders will get all their cash back matched at the end of their first year, so if you earned $500 back total, Discover would match that for a total of $1,000 back (from July 1 to September 30, 2024, earn 5% cash back atWalmart and grocery stores on up to $1,500 in purchases after enrollment, then 1%). You can read our Discover it Cash Back card review for all the details.
Discover now releases its categories before each quarter. For Q1 2024, these categories include restaurants and drugstores. Here's the Discover cash-back calendar.
Earn 5% on your top eligible monthly spending category: Citi Custom Cash℠ Card
Citi Custom Cash℠ Card
Insider’s Rating
Business Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.
4/5
Perks
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. Earn 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025. Earn unlimited 1% cash back on all other purchases.
Annual Fee
$0
Intro APR
0% intro APR on balance transfers and purchases for 15 months
Regular APR
19.24% - 29.24% Variable
Intro Offer
$200 cash back, fulfilled as 20,000 ThankYou® Points, after you spend $1,500 on purchases in the first six months of account opening
Earn $200 cash back (fulfilled as 20,000 ThankYou® Points)
Recommended Credit
Excellent, Good, Fair
Pros
- Flexibility to customize rewards by earning 5% cash back on up to $500 per billing cycle in your top spending category (from a list)
- Generous welcome offer for a no-annual-fee card
- No rotating bonus categories to sign up for or track
- Redeem for cash back, travel, gift cards, and more
Cons
- Only earns 1% back outside of $500 in top spending category each billing cycle
- Foreign transaction fee of 3%
Insider’s Take
The Citi Custom Cash℠ Card offers a solid welcome bonus and 5% cash back on up to $500 in purchases in your top spending category every billing cycle. There's no annual fee and you won't need to keep track of rotating bonus categories, but keep in mind it only earns 1% back outside of your highest spend category each month.
Citi Custom Cash Card review External link Arrow An arrow icon, indicating this redirects the user."
The Citi Custom Cash℠ Card makes it easy to earn 5% cash back (5x Citi ThankYou points) without having to keep track of rotating categories or remembering to activate a bonus. Cardholders earn 5% back on up to $500 in spending (then 1%) on the eligible category they spend the most in that billing cycle.
Categories that qualify include:
- Restaurants
- Gas stations
- Grocery stores
- Select travel
- Select transit
- Select streaming services
- Drugstores
- Home improvement stores
- Fitness clubs
- Live entertainment
The Citi Custom Cash℠ Card offers a welcome bonus of $200 cash back, fulfilled as 20,000 ThankYou® Points, after you spend $1,500 on purchases in the first six months of account opening. If you also have the Citi Strata Premier℠ Card or the Citi Prestige® Card (no longer available to new applicants), you can pool your points and transfer them to Citi's airline and hotel transfer partners, which include JetBlue and Singapore Airlines.
Find out more in our Citi Custom Cash card review.
A strong Chase alternative: Chase Freedom Unlimited
Chase Freedom Unlimited®
On Chase's website
Insider’s Rating
Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.
4.35/5
Perks
Earn 5% cash back on travel purchased through Chase Travel℠; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases
Annual Fee
$0
Intro APR
0% intro APR on purchases and balance transfers for the first 15 months
Regular APR
20.49% - 29.24% Variable
Intro Offer
Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back
Earn an additional 1.5% cash back on everything you buy
Recommended Credit
Good to Excellent
Pros
- Solid flat cash-back rate
- You can combine cash-back rewards with Ultimate Rewards points if you have an eligible card
- No annual fee
Cons
- Some other cards offer a higher rate of cash back on certain types of purchases
Insider’s Take
The Chase Freedom Unlimited® is a great choice for credit card beginners and experts alike. With no annual fee and a high earnings rate, it's worth considering as an everyday card — and it's even better when you pair it with an annual-fee Chase card like the Chase Sapphire Reserve®.
Chase Freedom Unlimited review External link Arrow An arrow icon, indicating this redirects the user."
Product Details
- Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
- Enjoy 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
- After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
- Member FDIC
If you don't want to keep track of quarterly bonus categories, you may want to consider Chase's other cash-back Freedom card instead.
The no-annual-fee Chase Freedom Unlimited® earns 5% cash back on travel purchased through Chase Travel℠, 5% back on Lyft rides through March 2025, 3% cash back on dining and at drugstores, and 1.5% back on everything else with no limit. If you're a new cardholder, you can currently earn additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year).
Cash back earned on the Chase Freedom Unlimited® can also be transferred to Chase cards that earn Ultimate Rewards points, so you could be earning at least 1.5x points on all your purchases — a very solid return on spending. Here's our Chase Freedom Unlimited review to learn more.
Chase Freedom 5% cash back frequently asked questions
How do I earn 5% cash back with the Chase Freedom card?
Cardholders earn 5% cash back, in the form of Ultimate Rewards points, in bonus categories every quarter. The bonus categories are announced two weeks before the quarter begins and are capped at up to $1,500 for a total of $75 cash back in value.
What types of categories qualify for 5% cash back?
Chase's 5% cash back categories rotate every quarter. In Q3 2024, the bonus categories are gas and EV charging, movies, and live entertainment.
Do I need to sign up for the 5% cash back every quarter?
Yes, you must activate the bonus categories each quarter to qualify for 5% cashback.Activate the promotion via the Chase website or mobile app up to two weeks before the end of the quarter for bonuses to retroactively apply to all eligible transactions during the promotion period.
Can I earn 5% cash back on purchases beyond the $1,500 quarterly limit?
No, you cannot earn 5% cash back on bonus categories after you've reached a combined $1,500 across the quarter's bonus categories. However, you can continue to earn extra points per dollar spent if you use your Chase Freedom Flex® on eligible purchases such as restaurants, travel, and gas.
What are some strategies to maximize my 5% cash back earnings?
There are several ways to maximize Chase 5% cash back bonuses. You can set calendar reminders to use the card on bonus categories throughout the quarter, or use an app for tracking credit card rewards to help you track which card to use when checking out.
Senior Editor, Credit Cards
Katherine Fan is a personal finance expert, journalist, and public speaker with nine years of industry experience.Before joining Personal Finance Insider as Senior Editor of Credit Cards, Katherine covered aviation, award travel, loyalty programs, and credit cards as a senior reporter for The Points Guy, and small business finances as a lead writer for Nerdwallet.ExperienceSince 2015, Katherine has published 1,800+ articles, guides, and reviews covering credit card benefits and rewards, small business finances, points and miles travel, loyalty programs, and real estate investing.Katherine has also freelanced for CNN Underscored, Forbes Advisor, Wall Street Journal Buy Side, Bankrate, CreditCards.com, the Dallas Morning News, LendingTree, Upgraded Points, Fortune Recommends, Newsweek, and Slickdeals Money. Her work has been syndicated by Nasdaq, MSN and Yahoo.Katherine is a guest speaker at TravelCon, and hasbeen featured on multiple podcastsincluding NPR Life Kit, Expedia's Out Travel the System, and The Points Guy'sMiles Away.In her spare time, Katherine moonlights as a photojournalist covering Formula 1, Austin City Limits, and SXSW for the Austin American-Statesman and other media outlets. When she's not jetsetting around the world, you'll likely find her in Austin cooking up a batch of spicy Chinese food.ExpertiseKatherine's expertise encompasses:
- Small business finances
- Credit cards
- Points and miles travel
- Travel insurance
- Real estate investing
Katherine's interest in personal finance runs parallel to her passions for real estate investing and award travel. Despite a salary of just $28,000 a year from her first full-time job, Katherine built an excellent credit score of 805 from scratch through hard work [and privilege], which allowed her to purchase her first home six years after graduating college. She's since added five more doors to her real estate portfolio, although she plans to retire on her index fund investments.Thanks to credit card travel rewards, Katherinehas flown well over one million miles visiting 44 countries across all seven continents. She's sailed with orcas in Antarctica, flown home in first class from Japan, photographed a wedding at Hobbiton in New Zealand, and gone on safari in South Africa. But her most meaningful trips always bringher home to loved ones in Taiwan.EducationKatherine holds dual degrees in photojournalism and Asian American studies from the University of Texas at Austin, and a certificate in business Chinese proficiency from National Taiwan University. She began her professional career in tech as a software sales executive for several years before returning to her media roots.
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