Many reward credit cards have come and gone over the years, but the Chase Freedom® card has been a popular option for a decade. It’s undergone changes in reward structure, branding and card design since its debut, and has evolved to be the reigning king of cash back cards for three main reasons:
Reason #1: 5% cash back
The Freedom gives you a 5% cash back rebate on multiple categories that change every three months. There’s a limit to the spending that qualifies for 5% cash back, but it’s quite high (up to $1,500 in category spending per quarter when you enroll). This means, if you maximize the categories, you can earn 5% on up to $6,000 of your spending every year.
You need to enroll each quarter to receive 5 percent back – but Chase allows you to set up email or text reminders so you don’t forget.
The 5% cash back categories for 2015 reward cardmembers for spending in practical, everyday purchase categories.
- Q1 (Jan. 1 – March 31, 2015): Grocery stores (excluding Walmart® and Target® purchases), Starbucks® stores and movie theaters
- Q2 (April 1 – June 30, 2015): Restaurants, Bed Bath & Beyond®, H&M®, and Overstock.com.
- Q3 (July 1 – Sept. 30, 2015): Gas stations and Kohl’s
- Q4 (Oct. 1 – Dec. 31, 2015): Amazon.com, Zappos.com, Audible.com and Diapers.com