Chase’s 5% Cashback Bonus Calendar (2023)

Chase has published an update to their 5% Cashback Calendar for 2023! If you hold a Chase Freedom or Chase Freedom Flex credit card (or are interested in applying for one), here is everything you need to know about taking advantage of Chase’s rotating 5% cashback categories.

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What are 5% rotating categories?

Chase Freedom & Freedom Flex cardholders receive 5% cashback on specific spending categories that rotate every quarter. This quarterly bonus is capped after spending $1,500 each quarter (earning you a total of $75 in cashback or 7500 UR points). Any additional spend beyond the $1,500 limit will only earn you 1%.

It is worth mentioning that Chase has multiple cards with “Freedom” in the name, but not all of them are created equal. Neither the Chase Freedom Unlimited nor the Chase Freedom Rise are eligible to earn 5% cashback on rotating categories.

Chase usually picks 2-3 separate categories per quarter to earn the 5% bonus. For the first three months of 2023, Chase Freedom & Freedom Flex cardholders earned 5% cashback at grocery stores, drug stores, and streaming services.

The 5% categories are generally relevant to the average spender, so you will likely find yourself earning bonus cashback every quarter. 

One thing to note: cardholders must activate your bonus every quarter in order to earn your 5% cashback. You can activate your bonus via Chase’s website or directly in the Chase app.

Chase’s 5% Cashback Calendar

Chase does not publish their entire 2023 calendar of quarterly rotating categories at the very beginning of the year. Here are each of the spending categories that earn 5% cashback with Chase Freedom & Freedom Flex cards:

• Q1 (January-March): Grocery Stores, Target, and Fitness Clubs/Gym Memberships
• Q2 (April-June): Amazon and Lowe’s
• Q3 (July-September): Gas Stations, EV Stations, and Live Entertainment (theme parks, sporting events, and ticket resellers)
• Q4 (October-December): PayPal, Wholesale Clubs, and Select Charities
  • Eligible charities include “American Red Cross, Equal Justice Initiative, Feeding America, Habitat for Humanity, International Medical Corps, International Rescue Committee, Leadership Conference Education Fund, NAACP Legal Defense and Educational Fund, National Urban League, Thurgood Marshall College Fund, United Negro College Fund, UNICEF USA, United Way, World Central Kitchen, GLSEN, Out and Equal, and Sage”

Chase vs Discover: The Battle of the 5% Calendars

Chase’s Freedom & Freedom Flex credit cards compete directly with the Discover It card which follow a similar quarterly rotating category model.

As someone who holds all three of these, I find that Chase’s quarterly category can sometimes overlap with Discover’s current bonus category. For example, both Chase & Discover offered 5% cashback on grocery store spend in Q1 2023. 

Maximizing 5% Rotating Categories

While the Discover It & Chase Freedom cards are solid no-annual fee credit cards, they are even better when combined with other cards (including each other).

Let’s say you own both a Chase Freedom Flex card & Discover It card. If you already maxed out the $75 in bonus rewards on the Chase Freedom Flex card by spending $1,500+ at grocery stores in Q1, you could begin using your Discover IT card to continue earning 5% cashback on another $1,500 in spend (instead of only earning 1% on extra grocery spend with the Freedom Flex).

In months when there are no overlapping categories, I keep both cards in my wallet so I can choose to swipe either card whenever I can earn 5% cashback.  

Further Reading: Want to earn even more rewards? Check out a list of our most valuable credit cards for non-rev travelers.