If you’re an eligible Chase credit card holder and you’re making New Year’s resolutions, the first three months of 2023 could work out pretty well for you, spending-wise.
From Jan. 1 through March 31, 2023, holders of the Chase Freedom Flex℠ or the legacy Chase Freedom® credit card can earn 5% back on up to $1,500 in combined spending in the following categories (1% back on everything else):
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Fitness club and gym memberships.
Cardholders must activate the bonus categories online or in the Chase app by March 14, 2023, to receive the 5% rewards for all eligible purchases during the quarter (including purchases made before activating).
Hitting the cash-back Target
This marks the first time that Target will be featured as a quarterly bonus category for Chase. In fact, in years past when grocery stores have appeared on the 5% calendar, Target has been specifically excluded.
If Target is where you get your groceries — or if you’ve been eyeing, say, a pricey fitness tracker, fancy blender or expensive treadmill — you could rack up some serious cash back at one of the world’s most popular big-box retailers.
🤓Nerdy Tip
Though grocery stores are also a 5% category for Q1 2023, note that you can’t “double-dip” on grocery store purchases at Target. Those will earn a max of 5% back, not 10%.
Stackable grocery savings
Want to kick-start your healthy year with a new meal-prepping routine or spend the cozy winter months cooking at home? Having grocery stores (excluding Walmart) as a 5% category might be welcome news. Even if you prefer grocery delivery, you don’t have to miss out on bonus cash-back earnings. Cardmembers can still earn 5% cash back on grocery store delivery through Instacart by activating through Chase Ultimate Rewards®.
On top of the quarterly bonus category for grocery stores, new Chase Freedom Flex℠ cardholders who apply directly via Chase can earn 5% cash back at grocery stores (excluding Target and Walmart) on up to $12,000 in spending in the first year.
For the first three months of 2023, that translates to an incredible 9% back on grocery purchases. (It’s not 10% back because the bonus is 4% on top of the baseline 1% back. So you earn 5% for the year, plus an extra 4% for the quarter.)
🤓Nerdy Tip
Chase’s introductory offer of 5% back on groceries on up to $12,000 in spending in the first year is available only when you apply directly with Chase. NerdWallet features a different offer.
Financial fitness goals
Have a new health and fitness goal among your New Year’s resolutions? Flex your financial muscles with up to 5% cash back on your gym or fitness club membership with the Chase Freedom® or Chase Freedom Flex℠ .
Whether you prefer to sweat it out in a spin class or find your inner Zen at the yoga studio, any merchant that’s categorized as a gym or fitness club on your credit card statement should qualify. If you prefer at-home workouts, though, note that fitness streaming services like Peloton and Apple Fitness don’t fit within this category.
Card details: Chase Freedom Flex℠
APR: 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 18.74%-27.49% Variable APR
In addition to its quarterly calendar of rotating 5% bonus categories, the card offers:
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3% back on dining, including takeout and delivery services.
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3% back on drugstore purchases.
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For all cardholders, through March 31, 2025, 5% back on qualifying Lyft services purchased through the Lyft app.
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1% back on all other purchases.
🤓Nerdy Tip
The Chase Freedom® card is no longer available to new applicants. However, existing users are still eligible to earn the 5% back in bonus categories after activation.
Jaime Hanson
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