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I recently compiled a list with the best bonuses you can earn on your credit card for everyday spend, based on the category in which you spend the most money. In that, I mentioned a few cards that consistently earn double points on dining, which is a big spending category for many of us.
I’ll happily take double points the rest of the year, but for the next few months I’ll be shifting most of my dining spend to my Chase Freedom®.
The Chase Freedom® is one of my favorite no annual fee credit cards thanks to the fact that it offers 5% cash back in select rotating quarterly categories.
Register to earn 5% cash back at restaurants
The “catch,” if you can call it that, is you have to register your card to be eligible for the 5%. By registering for the second quarter Freedom categories, you earn the 5x bonus on valid purchases between April 1 and June 30, 2015.
The Chase Freedom® second quarter bonus categories include restaurants, Bed Bath & Beyond, H&M, and overstock.com.
I’m especially excited about the 5% cash back at restaurants. My restaurant spend usually goes on the Chase Sapphire Preferred® Card, so it’ll be nice to do better than that next quarter.
While registration stays open through June 14, 2015, it only takes a few seconds to register (you just have to enter your last name, the last four digits of your card, and zip code), so I’d recommend doing so as soon as possible, so you don’t forget.
How to do better than 5% cash back
Keep in mind that while the Chase Freedom® is marketed as offering 5% cash back, the points can be worth much more than that. If you have this card in addition to one of the cards that accrue “premium” Ultimate Rewards points, you can transfer these points to Ultimate Rewards. Cards that accrue “premium” Ultimate Rewards Cards include the:
So 5% cash back converts into 5x Ultimate Rewards points per dollar with one of the above cards.
First of all, make sure that you’re registered for the second quarter 5% cash back category. Second of all, be sure you’re doing what you can to maximize it. If you wouldn’t naturally reach the $1,500 quarterly bonus maximum, I’d consider buying gift cards to restaurants you frequent if you’re in a position to do so.
Having a no annual fee card like the Chase Freedom® is a no brainer. Not only do you earn tons of points in valuable categories, but keeping a no annual fee credit card long term is great for your credit score, since it helps raise your average age of accounts.