The Chase Freedom Flex® is an excellent cash-back card for maximizing your spending in a variety of categories.
- Long intro APR for purchases and balance transfers
- Rewarding quarterly bonus categories
- No annual fee
- Bonus categories are capped each quarter
- Has a foreign transaction fee
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 Chase Travel℠
- 3% on drugstore purchases and on dining (including takeout and eligible delivery services)
- 1% cash back on all other purchases
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.
Foreign transaction fee
Chase Freedom cash-back calendar for 2025
Chase has announced the bonus 5% cash-back categories for the first quarter of 2025. The categories for the rest of the year will be released soon.
- January to March (activate now): Grocery stores, fitness clubs and gym memberships and hair, nails and spa services, Norwegian Cruise Lines
- April to June: Announcing on March 15
- July to September: Announcing on June 15
- October to December: Announcing on September 15
This year marks 15 years of rotating cash-back categories for Chase Freedom and it’s celebrating by introducing new cash-back categories all year round, starting with new travel, self-care, and wellness perks this quarter.
Pro tip: You can pair your Freedom card with a Chase bank account
When you open a Chase Total Checking® account, you can earn a $300 bonus after you make at least $500 in direct deposits within 90 days of opening the account. You can also waive the monthly maintenance fee with qualifying activities.
Chase Total Checking®
Annual Percentage Yield (APY)
Minimum balance to open
Monthly service fee
$12 or $0 with one of the following, each monthly statement period: Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNowSM network, (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network, OR a balance at the beginning of each day of $1,500 or more in this account, OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances.
Free ATM network
With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
ATM fee reimbursement
Overdraft fee
Mobile check deposit
JPMorgan Chase Bank, N.A. Member FDIC
Compare checking accounts
How 5% cash-back credit cards work
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.
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 Travel℠, 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 cash back earned with a Freedom card into transferrable Ultimate Rewards® points and potentially receive 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth over $750 toward travel.
Is 5% cash back unlimited?
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.
Other 5% cash-back cards to consider
Discover offers several 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.
The Discover it® Cash Back offers an excellent return in a wide range of useful rotating quarterly bonus categories.
- Unique welcome bonus matches the cash back new cardholders earn for the first year
- Generous intro-APR offer applies to purchases and balance transfers
- No annual fee
- Cash-back categories must be activated each quarter
- Bonus cash back is capped, then you’ll earn 1% back
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
Highlights
- Intro Offer: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
- Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
- Redeem your rewards for cash at any time.
- Apply and you could get a decision in as little as 60 seconds. No annual fee.
- Start shopping and earning rewards in minutes with our digital card, before your physical card arrives in the mail, if eligible.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. Activate by mobile app for free.
- Get a 0% intro APR for 15 months on purchases. Then 18.24% to 27.24% Standard Variable Purchase APR applies, based on credit worthiness.
- Terms and conditions apply.
Balance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Citi also has a 5% cash-back card, the Citi Custom Cash® Card, but it doesn’t require you to activate bonus categories 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 in cash back after spending $1,500 on purchases in the first six months of account opening (fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back).
The Citi Custom Cash® Card is an especially simple and rewarding cash-back card because you’ll automatically earn bonus rewards where you spend the most.
- Intro APR applies to purchases and balance transfers
- Easy-to-earn welcome bonus; No annual fee
- Bonus cash-back categories are capped
- Has a foreign transaction fee
Rewards
- Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter.
- Earn unlimited 1% cash back on all other purchases.
- Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2026.
Balance transfer fee
5% of each balance transfer ($5 minimum)
Foreign transaction fee
FAQs
When does Chase announce the Freedom bonus categories?
Chase announces its rotating 5% bonus categories one at a time, shortly before the new quarter begins.
How much can I earn with the Freedom bonus categories?
The Chase Freedom 5% cash-back bonus is limited to $1,500 in combined spending per quarter, meaning you can earn up to $75 in cash back quarterly — and up to $300 annually.
Does the Chase Freedom Unlimited® have a 5% cash-back category?
The Chase Freedom Unlimited® does not offer rotating 5% cash-back categories but earns unlimited 5% cash back on travel booked through Chase Travel℠, as well as 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and 1.5% on all other purchases.
What is the Chase 5/24 rule?
The Chase 5/24 rule is an unofficial policy that restricts you from being approved for a Chase credit card if you’ve opened five or more personal credit cards (from any card issuer) within the past 24 months.
Do Chase cash back rewards expire?
No, any cash back rewards or Chase Ultimate Rewards® points you earn do not expire as long as you keep your credit card account open and in good standing.
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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 CNBC 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.