Earn 5x Points with Chase Freedom This Quarter

Image: PHOTO: Paying attention to the rewards on your Chase Freedom card can really add up. (photo via Pixabay/Olichel)

by Holly Johnson
Last updated: 2:00 AM ET, Thu May 4, 2017

The Chase Freedom card is the first rewards card I ever owned, but it's so valuable I still carry it to this day.

Not only do you earn 1 point per $1 spent on all purchases, but you can earn even more with the card's rotating bonus categories. Better yet, this card never charges an annual fee.

The rotating categories change every quarter, and the selection differ every year. In April through June of this year, however, one of the best categories is in force: Grocery stores and drug stores. From there, you'll earn 5x points on summer fun from July through September and 5x points on holiday shopping from October through December.

Chase Freedom Highlights:

-Earn a $150 Bonus after you spend $500 on purchases during your first three months from account opening.

-Earn five percent cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate.

-Unlimited one percent cash back on all other purchases; it's automatic.

-0 percent intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.74-24.49 percent. (Balance transfer fee is five percent of the amount transferred, $5 minimum.)

-Enjoy new five percent categories every three months.

-Cash Back rewards do not expire while your account is open.

-No annual fee.

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How to Maximize This Quarter's Bonus Category:

Chase places limits on the number of bonus points you can earn. During each quarter, you only accumulate 5x points on your first $1,500 in category spending.

You will, however, earn an unlimited one point per $1 spent on all purchases that surge over that amount.

Also remember that you must "sign up" for this promotion each quarter and that failing to do so means losing out on those extra rewards. You can activate your card's 5x bonus categories through your online account management page, or you can do it here.

Beyond those caveats, maxing out this quarter's bonus category should be a piece of cake.

Who doesn't spend $500 or more on groceries every month? And drug stores only add another layer of opportunity. Nonetheless, consider these tips:

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-Shop at real grocery stores.

Unfortunately, this quarter's 5x category doesn't consider Walmart, Target or other mega-stores as "grocery stores." If you want to earn 5x points on your grocery spending, make sure to bounce over to a traditional grocery store through the end of June.

-Pay for your prescriptions with your Chase Freedom and have them sent to a drug store.

While you should definitely price shop before you send your prescriptions to a different pharmacy, it makes sense to purchase your prescriptions from a drug store to earn 5x points if all things are equal.

-Buy gift cards.

If you're short on spending for any reason, both drug stores and grocery stores let you buy gift cards to use later on. You can either buy gift cards for the store itself or Visa gift cards you can use for regular spending or bills.

-Pair your Chase Freedom card with a premier travel card like the Chase Sapphire Preferred or Chase Sapphire Reserve.

By doing so, you can earn premier travel benefits and the ability to transfer points between programs. And since the Chase Sapphire Preferred and Reserve cards offer more points on travel and dining, you can rotate cards for higher earnings based on your spending.

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