Chase Freedom® credit card holders can activate bonus 5% cash-back categories for the third quarter of 2020 now through September 14. Cardholders earn 5% cash back on up to $1,500 in spending across purchases made at Amazon.com and Whole Foods Market from July through September (then 1%).
Chase announced the bonus 5% cash-back categories for the first half of 2020. The remaining categories will be released throughout the year.
Here are the bonus categories for 2020:
*Eligible streaming services include: Disney+, Netflix, Hulu, Sling, Vudu, Fubo TV, Apple Music, SiriusXM, Pandora, Spotify, YouTube TV, Google Play and ESPN+.
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 1% cash back on all other purchases
$200 cash back after you spend $500 on purchases in your first 3 months from account opening
0% for the first 15 months on purchases
14.99% to 23.74% variable on purchases
Either $5 or 5% of the amount of each transfer, whichever is greater
See our methodology, terms apply.
Chase and Discover are the two most popular card issuers offering 5% cash-back cards. Here's a side-by-side comparison of the two cash-back calendars for 2020.
So far in 2020, both Chase and Discover included common spending categories, such as and gas stations and grocery stores, in their calendars. Discover also included restaurants, and it's yet to be released if Chase will too. In 2019, Chase didn't include restaurants.
In order 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.
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 at least 2% or 2 points per dollar spent.
Information about the Chase Freedom® has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.