The popular cash back credit card rotates the spending categories in which cardholders can earn 5% cash back every three months.
That means cardholders will have a new 5% cash back opportunity every quarter: January through March, April through June, July through September and October through December.
Let’s take a look at the opportunity for Quarter 3 of 2024:
Chase Freedom Flex®: What Is the Current 5% Cash Back Category?
Beginning July 1, 2024, Freedom Flex cardholders will be able to earn 5% cash back on the following spending categories:
- Gas Stations
- EV Charging
- Select Live Entertainment
- Movie Theaters
Activate the offer via your Chase account to earn 5% cash back on up to $1,500 in combined purchases in this quarter’s bonus categories.
To enjoy these enhanced cash back rewards, which can be earned from July 1 through September 30, cardholders must opt in on their Chase account by September 14.
For a purchase to qualify for the 5% bonus cash back, the merchant must submit charges to your credit card by the last day of the relevant calendar quarter.
If you hit the $1,500 spending in those categories for the three month period, you’ll be able to earn up to an additional $75 in cash back.
Spending done in the categories after that $1,500 cap is met will only earn at regular cash back rates. That can be as low as 1% back for many purchases with the Freedom Flex.
2024 Chase Freedom Flex® Bonus Calendar
- January through March: Grocery Stores, Fitness Clubs & Gym Memberships, Self-Care & Spa Services
- April through June: Amazon.com, Hotels, Restaurants
- July through September: Gas Stations, EV Charging, Select Live Entertainment, Movie Theaters
- October through December: To be announced at a later date
Is the Chase Freedom Flex® Card Worth It?
|
Annual Fee:
$0.00
Intro APR Period on New Purchases:
15 months
Intro APR Period on Balance Transfers:
15 months
Variable APR:
20.49%–29.24%, based on your creditworthiness.
Bonus Offer:
Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
Rewards Program Details:
Earn 5% cash back on different categories like gas stations, grocery stores (excluding Target® and Walmart®) and select online merchants on up to $1,500 in total combined purchases each quarter you activate. Earn 5% on travel purchased through Chase TravelSM. Earn 3% on dining at restaurants, including takeout and eligible delivery services. Earn 3% on drugstore purchases. Earn 1% on all other purchases.
Cell Phone Coverage:
Yes
This Is the Card for You If:
You want to lock in 3% back on restaurants and dining, enjoy rotating 5% back categories and get cell phone protection by paying your wireless bill with the card. |
If you’re not already a Freedom Flex cardholder, you may be wondering if it’s worth adding to your wallet.
The rotating 5% cash back opportunities are tempting, and we keep it on our list of best rewards credit cards thanks to the 3% cash back you can earn on dining without paying an annual fee.
Throw in an easy-to-earn welcome bonus and a 15-month 0% intro APR period, and you may be tempted to sign up.
Money expert Clark Howard generally recommends that you sign up for a no-annual-fee credit card that earns at least 2% cash back on everyday purchases. That way you can lock in a 2% discount on everything you buy.
This card doesn’t do that, but it could be a great secondary card to use in addition to your everyday spender. This would allow you to exceed the 2% cash back earnings in dining (3%), drugstores (3%), on select travel with Chase (5%) and through the 5% cash back offered via the rotating spending categories.
Do you have the Chase Freedom Flex® Card? We’d love to hear about your experiences in the Clark.com community.
The post Chase Unveils New 5% Spending Categories for Freedom Flex® appeared first on Clark Howard.