Tiffany Raiford
Earning 5% cash back on your everyday purchases is often a very profitable endeavor, and it’s only one of the reasons so many consumers love the Chase Freedom card. With the opportunity to earn that much cash back on items you purchase regularly, it’s difficult not to fall in love with this credit card. It’s even more helpful that the categories in which you earn this kind of cash back rotate quarterly so that there is always a chance you can earn more than ever. Every three months, the card company announces that the rotating categories in which you earn 5% cash back have changed, and you can earn that cash back on purchases in those categories up to $1,500. Every year, the company announces which categories will be in the mix for the coming year.
This month, Chase announced which categories cardholders will earn the most cash back in for each quarter in 2016.
First Quarter (January 1 – March 31)
- Gas Purchases
- Commuter Transportation (excludes Amtrak, tolls and parking fees)
Second Quarter (April 1 – June 30)
- Grocery Purchases (excludes Walmart and Target purchases)
- “More” though more is not specified by the company at this point
Third Quarter (July 1 – September 30)
- Restaurant Purchases
- “More” though more is not specified by the company at this point
Fourth Quarter (October 1 – December 31)
- Christmas Shopping (no specifics have been announced as yet)
For every other purchase you make throughout the year, you earn an unlimited 1% cash back. Additionally, you will earn 1% cash back on all rotating category purchases over $1,500. This makes earning cash back an unlimited offer, once again solidifying the Chase Freedom card as one of the most profitable cards to have in the current year. One thing to keep in mind is that the card company requires you opt-in to receive the cash back bonuses each year, as each one is only available until the 14th day of the first month of the new quarter. Failing to opt in online through your Chase account results in not earning 5% cash back on these particular categories.
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