Chase has published an update to their 5% Cashback Calendar for 2024! 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 7,500 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 2024, Chase Freedom & Freedom Flex cardholders earn 5% cashback on grocery store purchases, fitness clubs/gym memberships, and self-care & space 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 2024 calendar of quarterly rotating categories at the very beginning of the year. Here are each of the 5% cashback categories that have been announced so far for Chase Freedom & Freedom Flex cardholders:
- Q1 2024 (January-March): Grocery stores, fitness clubs/gym memberships, and self-care & spa services
- Q2 2024 (April-June): Hotels, restaurants, and Amazon.com
- Q3 2024 (July-September): TBD
- Q4 2024 (October-December): TBD
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 2024.
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).
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.
However, there are times when the Chase & Discover 5% bonus categories overlap. In those quarters, you can use both a Chase Freedom card and a Discover IT card to continue earning 5% cashback on more than $1,500 in total spend (instead of only earning 1% on any extra spend beyond each card’s $1,500 cap).
Further Reading: Want to earn even more rewards? Check out a list of our most valuable credit cards for non-rev travelers.
