09 Feb Chase Freedom 5% Cash Back Categories: 2023 Calendar
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Chase Freedom cash-back calendar for 2023
So far, Chase has only announced its 5% cash-back category for the first quarter of 2023. The remaining categories will be released as the year goes on.
- January to March (activate now): Grocery stores (excludes Walmart), Target and fitness clubs and gym memberships
- April to June (activate starting March 15): To be announced
- July to September: To be announced
- October to December: To be announced
Chase Freedom Flex℠
Information about the Chase Freedom Flex℠ has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
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Rewards
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases
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Welcome bonus
$200 cash back after you spend $500 on purchases in your first three months from account opening
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Annual fee
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Intro APR
0% for the first 15 months from account opening on purchases and balance transfers
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Regular APR
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Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
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Foreign transaction fee
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Credit needed
How 5% cash-back credit cards work
In order to benefit from 5% cash back, you’re required to activate bonus categories each quarter. Once you activate bonus categories, you can start earning 5% cash back. Chase allows you to save activation reminders to your calendar and set up email alerts. You can also activate the bonus categories by clicking here and entering your last name, the last four digits of your card number and your zip code.
There are limits to how much spending qualifies for 5% cash back each quarter. After you spend a combined $1,500 in the bonus categories, the cash-back rate drops to 1%. This maximum spending requirement resets every quarter.
All other purchases made outside the bonus categories automatically earn 1% cash back. If you’re looking to optimize how many points you can earn, we suggest using an alternative cash-back or rewards credit card for spending outside the bonus categories, so you earn more than 1% cash back.
If you want to participate in the rotating 5% categories that Chase offers, you’ll need to apply for the Chase Freedom Flex℠, as the Chase Freedom is no longer available for new applications. The Freedom Flex ranks as one of the best cash-back cards with no annual fee and earns cardholders 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining at restaurants (including takeout and eligible delivery services) and drugstores and 1% on all other purchases.
Pro tip: Although billed as cash-back cards, if you have another Chase-Ultimate-Rewards-earning card like the Chase Sapphire Preferred® Card, you can convert the cashback earned with a Freedom card into transferrable Ultimate Rewards points and potentially receive more value from your rewards.
Discover also offers several different no-annual-fee credit cards that allow cardholders to enroll every quarter to earn 5% cash back in various categories, up to a $1,500 quarterly maximum (then 1% cash back) throughout the year. Its most popular option is the Discover it® Cash Back and Discover will currently match all the cash back new cardholders earned at the end of their first year.
Discover it® Cash Back
On Discover’s secure site
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Rewards
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
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Welcome bonus
Discover will match all the cash back you’ve earned at the end of your first year.
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Annual fee
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Intro APR
0% for 15 months on purchases
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Regular APR
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Balance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
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Foreign transaction fee
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Credit needed
Citi also launched its own 5% cash-back card, the Citi Custom Cash℠ Card, which is a competing option for other 5% cards because you don’t need to activate each quarter.
Cardholders of the Custom Cash Card can get 5% cash back on purchases in their top eligible spend category each billing cycle, up to the first $500 spent (then 1%). The card also offers a welcome bonus with a pretty low spending threshold: Earn $200 cash back after spending $750 on purchases in the first three months of account opening (fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back).
Citi Custom Cash℠ Card
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Rewards
5% cash back on purchases in top eligible spend category each billing cycle, up to the first $500 spent (then 1%); unlimited 1% cash back on all other purchases
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Welcome bonus
Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
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Annual fee
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Intro APR
0% APR on balance transfers and purchases for first 15 months
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Regular APR
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Balance transfer fee
5% of each balance transfer ($5 minimum)
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Foreign transaction fee
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Credit needed
The Chase Freedom® is not currently available to new cardholders. Please visit our list of the best cash-back cards for alternative options.
For rates and fees of the Discover it® Cash Back, click here
Information about the Chase Freedom® has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.