Chase Freedom is an excellent no annual fee card thanks to its quarterly 5% categories. While they call it 5% cash back, you’ll really get 5 Ultimate Rewards points per dollar spent which can be worth much more than 5% cash. If you max out the $1,500 in bonus spending per quarter you will earn at least 30,000 Ultimate Rewards points over the course of a year (7,500 points per quarter at 5 points per dollar spent).
- Grocery stores. This includes large grocery chains and small local grocery stores. These stores sell gift cards to other stores as well. You can lookup how a store is categorized here.
- Gym memberships and fitness clubs.
You still can finish Q1 spending through 3/31 at:
- Internet, Cable, and Telecom: This includes your internet bills, TV bills, cell phone bills (including cell phones and accessories charged to your monthly bill), and landline bills.
- Select streaming services: This includes Disney+, Netflix, Hulu, Sling, Vudu, FuboTV, Apple Music, SiriusXM, Pandora, Spotify, YouTube, and ESPN+.
- Gas stations: This includes most 7-Eleven stores and gas stations that sell gift cards for other stores as well. You can lookup how a store is categorized here. My local GetGo gas stations earn sweet rewards on gift card purchases, making this quarter even more lucrative. Officially warehouse clubs are excluded, but I have gotten this at Costco and Sam’s Club gas stations in the past.
- I racked up tens of thousands of Ultimate Rewards points and over $500 in free gas buying gift cards at gas stations in Q3 on our 5 Chase Freedom cards!
- You can also buy gift cards at any of the stores above to lock in savings!
While Chase Freedom is a great card for the bonus categories, it’s not a great card for everyday spending. However the Chase Freedom Unlimited card also has no annual fee and is excellent for everyday spending thanks to 1.5 points per dollar that can be earned everywhere with no limit, but it does not have any bonus categories.
The no annual fee business version of Freedom Unlimited is the Chase Ink Unlimited Card, which offers $500 in the form of 50,000 Chase Ultimate Rewards points after spending $3,000 within 3 months plus 1.5 points per dollar spent everywhere.
Freedom, Freedom Unlimited, and Ink Unlimited alone can’t transfer points into much more lucrative airline or hotel miles, but if you or your spouse has an Ink Preferred, Sapphire Reserve, or Sapphire Preferred, or card then you can transfer points from Freedom to one of those cards and from there to your favorite travel currency. Those cards also allow you to rdeem your points for paid travel at a value of 1.25 or 1.5 cents per point. The Freedom, Freedom Unlimited, or Ink Unlimited card can also keep your points alive for free if you do close one of those premium cards.
The value of the points will be based on where you use them, but if you use those points for a trip worth where they are worth 2 cents each then you’ll have effectively earned 10% back on those “5 point categories.” The sky is the limit of the value of airline miles as they aren’t tied to the cost of a ticket. That’s good for people in the know and bad for those who are not. 1 mile can be worth 0.25 cents or it can be worth 25 cents, it all just depends on how you use them!
Where will you make your Q1 and Q2 purchases?