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chase-freedom-categories-2015-freedom-logoThe Chase Freedom is a great card to have, and one of the reasons is that it’s a no-fee card that still earns valuable Ultimate Rewards. Also, if you have a premium Chase card (such as the Sapphire or the Chase Ink card) that you want to cancel, you can transfer it down into a Freedom (and keep your Ultimate Rewards points).  Just make sure that you transfer your points to a card you’re going to keep BEFORE you cancel!

(SEE ALSO: Transferring Chase Ultimate Rewards between accounts before closing an account)

If you just have say, a Sapphire card, and you cancel it, then your Ultimate Rewards points are just gone! Obviously that’s not what we want to happen, so downgrading to a Freedom is an option. Now one disadvantage of not having a premium Chase card is that you can’t transfer your points to Chase’s partners (like United, Southwest and others).

Another downside is if you already HAVE a Freedom card (because you downgraded from an Ink or Sapphire) is that you’re not eligible for a signup bonus.

Quarterly Chase Freedom categories – 2015

The other nice part of the Freedom card is that they have quarterly bonuses, where each quarter, you earn 5% back in a select number of categories. This quarter is 5% on Grocery stores (not including Walmart or Target), Movie Theaters and Starbucks stores.

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As you can see, the new Chase Freedom categories bonus for 2015 Q1 is at Grocery Stores,  Movie Theaters and Starbucks. Remember that the bonus is good on the first $1500 of spending, so up to 7500 Ultimate Rewards.  Any spending you do over and above $1500 will just earn the regular 1%.

The link to activate your Chase Freedom 5% is right here!

I know that some people are just buying Visa gift cards right away (3 $500 ones will do it!) but personally, we actually already spend quite a bit at grocery stores (you know, food for 8 costs a lot!!).  I think that I’ll wait until closer to March to see if or how many gift cards I need to get to make sure to get the whole $1500 in spend.  Any other tips for maximizing the Chase Freedom categories 5% bonus?

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