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Credit Cards

Chase Freedom Month of More: Earn bonus cash back and redeem points for higher values

This May, Chase Freedom cardholders can receive 10% to 15% off select gift card redemptions.

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Just in time for summer, Chase is giving Chase Freedom Flex®, Chase Freedom Unlimited® and other Freedom-branded card members a boost to both their rewards value and earnings potential.

The Chase Freedom's Month of More promotion features discounts on select gift card redemptions and bonus cash back at eligible stores with the Shop Through Chase® portal. The promotion runs through May 31, 2023, and is in addition to the rotating Chase Freedom quarterly bonus cash-back categories.

Below, CNBC Select shares all the relevant details you need to take full advantage of this offer.

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Chase Freedom Month of More

All of the Chase Freedom cash-back cards are eligible for this promotion, including:

Chase Freedom Flex®

  • 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 the Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases

  • Welcome bonus

    Earn a $100 bonus after you spend $500 on purchases in the first 3 months from account opening. Plus, earn 5% cash back on grocery store purchases (excluding Target® and Walmart®) on up to $12,000 spent in the first year.

  • Annual fee

    $0

  • Intro APR

    0% for the first 15 months from account opening on purchases and balance transfers

  • Regular APR

    20.49% - 29.24% variable

  • 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

    3%

  • Credit needed

    Excellent/Good

  • Member FDIC. Terms apply. Information about the Chase Freedom Flex® has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

Chase Freedom Unlimited®

On Chase's secure site
  • Rewards

    Enjoy 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 3% cash back on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

  • Welcome bonus

    INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

  • Annual fee

    $0

  • Intro APR

    0% for the first 15 months from account opening on purchases and balance transfers

  • Regular APR

    20.49% - 29.24% variable

  • 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

    3%

  • Credit needed

    Excellent/Good

  • Member FDIC. Terms apply.

Just as you normally would, you can use the Ultimate Rewards® points you earn with Freedom cards at a rate of one cent per point for a variety of redemptions, including gift cards. But during this promotion, you can get 10% to 15% off gift card redemptions for certain brands, increasing the value of your points:

  • 10% off for gift cards to: Applebee's, Chipotle, Domino's, Happy Moments and Home Depot
  • 15% off for gift cards to: Chili's, Gap, Home Chef, Macy's, PetSmart, Spa Finder and Wayfair

With a 15% discount, a $20 gift card would only cost 1,700 Chase points instead of the normal price of 2,000 points. That equates to a redemption value of about 1.18 cents per point. This will help you stretch your points further and boost the value of your redemptions.

During this promotion, Chase points are also worth 10% more when you redeem them for Apple merchandise through the Apple® Ultimate Rewards store, bumping up the value of your points to 1.1 cents apiece.

Further, you can earn bonus cash back using Shop Through Chase at these stores:

  • 5% back at Ancestry, Athleta, Contacts Direct, HelloFresh, Kiwi, Motley Fool, Neiman Marcus, Norton LifeLock, ProFlowers, Samsung, Sam's Club and Walmart
  • 10% back at Nike, Lowes, and Sephora/Ulta

Keep in mind, before you use the Shop Through Chase portal, you can use a site like Cashback Monitor to compare offers available through other shopping portals.

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 cashback earned with a Freedom card into transferrable Ultimate Rewards® points and potentially receive more value from your rewards.

Bottom line

Through May 31, 2023, Chase Freedom cardholders have the opportunity to earn extra rewards and redeem gift cards for fewer points at select retailers. Eligible cards include the popular no-annual-fee cash-back cards, Freedom Flex and Freedom Unlimited.

Catch up on CNBC Select's in-depth coverage of credit cardsbanking and money, and follow us on TikTokFacebookInstagram and Twitter to stay up to date.

The Chase Freedom® is not currently available to new cardholders. Please visit our list of the best cash-back cards for alternative options.

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.
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