Lots of people swear by the Chase Freedom card these days, and not without good reason. It brings a 5% cash back on certain kinds of ordinary spending categories. These rotate every three months, and members can get returns on up to $1,500 of spending. Chase just announced its new bonus categories for the New Year.
Bonus Categories In 2016
2016 has much the same categories as the past year, although there are some minor changes, which have been made.
- Quarter 1 (Jan. 1 – March 31): Gas stations and local commuter transportation (not including parking, tolls or Amtrak)
- Quarter 2 (April 1 – June 30): Grocery stores (not including Target and Wal-Mart) and more
- Quarter 3 (July 1 – Sept. 30): Restaurants and more
- Quarter 4 (Oct. 1 – Dec. 31): Holiday shopping
Chase Freedom has once more placed itself as the top choice when it comes to everyday spending. Even with the 1% cash back on non-bonus category spending, and on bonus category spending above $1,500 in a quarter, you can earn extra cash without straining yourself.
Although to be fair, the bonuses don’t come automatically. You need to op-in using the online account every quarter, and you will normally have until the 14th of the third month before you lose out on earnings for the current quarter. Chase applies the bonus retroactively. It is possible to get calendar reminders so you don’t forget.
Other Chase Freedom Offerings
Chase Freedom has the bonus cashback, but that is not the only thing drawing in customers. There is a $150 Bonus if you spend $500 on purchases inside the first three months from account opening. Adding an authorized user to the card and buying something with it in the first three months of membership, gets you an additional $25. Chase’s Ultimate Rewards site has a bonus mall where you can earn up to 10% cash back on eligible online purchases.
Many other cards have the same high rewards rate, but not the $0 annual fee that Chase Freedom comes with. There is also an introductory APR if you need to pay off a big purchase, at 0% Intro APR for 15 months on balance transfers. As long as you are not spending on the bonus categories, this card is one of the best to have in your wallet.
We have said this many times: if you are not big on redeeming your points, you should sell them online. Check out the YYZ Miles offer page for the best options.