JPMorgan Chase (NYSE:JPM) has just revealed its new 2014 quarterly rotating cash back categories calendar for its Chase Freedom 5% cash back rewards program. This program lets you earn 5% cash back on up to $1,500 spent in combined purchases you make in select categories each quarter, allowing you to earn 5 times the amount of points you would usually be earning on those purchases.
After you spend $1,500 in the select categories each quarter you will earn 1% cash back on purchases made in those categories. To be able to earn this 5% cash back you must activate your cash back categories each quarter, either by phone, mail, text message, or through Facebook or Chase’s website. What I like about the category activation program is that you will still earn cash back retroactively even if you activate the cash back categories after the quarter has already begun.
You can start activating your cash back categories for the first quarter on December 15, 2013, and you have until March 14, 2014, to activate it in order to receive the retroactive cash back from the first quarter.
Chase always does a good job choosing categories in which people will most likely spend more during each quarter. For example, during the first quarter of 2014, you will earn 5% cash back when watching movies at movie theatres, exactly during movie awards season and during the third quarter, you will earn the 5% cash back on gas and Kohl’s (NYSE:KSS) purchases, just in time for your summer travel and back-to-school purchases.
Here are the Chase Freedom rotating cash back categories for 2014 that have just been announced:
January-March: Gas stations, Starbucks (NASDAQ:SBUX) and movie theaters.
April-June: Restaurants and Lowe’s (NYSE:LOW) home improvement stores.
July-September: Gas stations and Kohl’s.
October-December: Select department stores, Amazon.com (NASDAQ:AMZN) and Zappos.com.
Chase Freedom is a Visa (NYSE:V) card that has made it to our Best Credit Cards list, and it is currently one of our highest-rate credit cards at DailyMarkets.com. Here is a brief summary of some of its main features.
Chase Freedom offers $100 cash back as a signing bonus when you spend $500 within the first 3 months of card membership. You will also enjoy earning 5% cash back on up to $1,500 in combined purchases from the quarterly categories I previously mentioned, and 1% thereafter. You also earn 1% cash back on everything else you purchase. You’ll enjoy 0% intro APR on purchases and balance transfers for 15 months. After the intro period there is a variable APR of 13.99% to 22.99% on both purchases and balance transfers. No annual fee.
Click here to read our Chase Freedom review.