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.
Chase freedom spending category review how to#
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.
Chase freedom spending category review full#
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. 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. Activate bonus categories as soon as possible.Likewise, stocking up on nonperishable items you need during a particularly rewarding quarter may be worthwhile, assuming you can safely pay down the entire balance before the end of the billing cycle.
It can be more rewarding to hold off on a purchase if it falls in a later bonus category.
Related: Should I Product Change My Chase Freedom to a Freedom Flex? How Does 5% Cash Back Work? Grocery stores (excluding Target and Walmart) and Fitness Clubs & Gym Memberships. 2023 Quarterly Bonus Categories for Chase Freedom Flex
0 kommentar(er)
