The right way to Observe Your Spending on the Chase Freedom Flex 5% Cap


One of many key advantages of the Chase Freedom Flex℠ bank card is a rotating 5% incomes class. Each quarter, cardholders will earn 5% money again on as much as $1,500 in mixed purchases in choose classes. That’s as much as $300 money again annually.

The catch? When you cross the $1,500 spending threshold, you’ll solely earn 1% money again on additional purchases in these classes. So, it’s essential to understand how a lot you’ve spent towards the restrict. That manner you possibly can change to utilizing a bank card that gives a better return on spending when you hit the cap.

Here is how one can observe your spending on the Chase Freedom Flex℠.

The Chase Freedom Flex℠ 5% incomes classes

Between January and March 2021, Chase Freedom Flex℠ cardholders earn 5% on:

  • Wholesale membership purchases.

  • Web, cable and cellphone providers.

  • Choose streaming providers.

Nonetheless, the remainder of the 2021 bonus classes gained’t be introduced till lower than three weeks earlier than the beginning of the quarter.

This makes it arduous to plan your bank card technique for the yr. Nonetheless, it permits Chase to stay versatile and supply classes which can be particularly related for the time — from shops across the holidays to pick out streaming providers through the pandemic.

For reference, latest bonus classes have included:

  • This autumn 2020: Walmart and purchases PayPal.

  • Q3 2020: Amazon and Complete Meals.

  • Q2 2020: Grocery shops, health membership and fitness center memberships, and choose streaming providers.

  • Q1 2020: Fuel stations; web, cable and cellphone providers; and choose streaming providers.

Three steps to monitoring your class spending

1. First, test should you’ve activated cash-back earnings for the quarter

LOG IN AND HEAD TO CHASE ULTIMATE REWARDS®

First, log in to your Chase account and navigate to the Chase Final Rewards® touchdown web page. You probably have a number of Chase Final Rewards®-earning Chase playing cards, you’ll want to pick out your Chase Freedom Flex℠ from the checklist.

NAVIGATE TO THE 5% CATEGORIES SECTION

As soon as logged in, click on the menu button (represented three traces) on the prime left nook of the web page. Then choose “5% Classes” from the menu checklist.

CONFIRM ACTIVATION

On this web page, Chase exhibits whether or not or not you’ve activated your 5% money again for the quarter and the next quarter if registration is open. Accomplish that if you have not already. Proper beneath the activation button for the present quarter, you’ll discover that quarter’s spending tracker.

This bar offers you a visible approximation of how shut you might be to the spending cap for the quarter. Nonetheless, it doesn’t give particulars in your actual progress. As a substitute, you’ll have to test one other web page.

There’s just one place we’ve discovered that Chase offers an actual determine of how a lot you’ve spent towards the quarterly $1,500 spending cap.

2. Discover the Rewards Exercise web page

Navigate to the Rewards Exercise web page. Then, click on the “5% money again” tab on the highest menu to scroll all the way down to the tracker.

Right here, you may discover particulars on how a lot money again you’ve earned towards the $75 cap. Nonetheless, the figures generally is a bit complicated. The values listed for every service provider characterize the 4% cash-back bonus for the quarter, and the 1% base incomes is listed individually.

You don’t have so as to add up these values to see your bonus class cash-back earnings, although. Within the instance above, the cardholder has earned $58.48 of their $75 most money again for the quarter.

3. Work out how a lot you possibly can nonetheless spend towards the cap

It takes just a few calculations to find out how a lot you possibly can nonetheless spend earlier than hitting the spending cap.

Nerd tip: Subtract the quantity of cash-back earnings so removed from $75; you’ll have to divide this quantity 5% (0.05) to learn the way far more you possibly can spend earlier than hitting the cap.

Within the instance above, we have to subtract $58.48 from $75. Then, we divide the $16.52 end result 5%, which will get us $330.40. That is the quantity the cardholder can spend in bonus classes this quarter to maximise their cash-back return.

Different bonus classes of the Chase Freedom Flex℠

Whereas the 2 playing cards share related names, the Chase Freedom Flex℠ is a considerable enchancment over the Chase Freedom®.

The Chase Freedom® additionally earns 5% money again on as much as $1,500 in mixed purchases every quarter in choose classes, however just one% money again on all different purchases. The Chase Freedom Flex℠, nevertheless, improves on this providing the next incomes classes:

  • 5% on journey bought Chase Final Rewards®.

  • 3% on eating at eating places, together with takeout and eligible supply providers.

  • 3% on drugstore purchases.

Even should you choose to swap this card for one with a better return after you attain the $1,500 spending cap in 1 / 4, it’s smart to maintain it helpful for any of the above purchases.

The underside line

To get essentially the most out of your Chase Freedom Flex℠, you’ll need to max out your 5% cash-back earnings every quarter. However, there are many playing cards that earn higher than 1% money again on spending. So, you’ll need to change to utilizing one other card when you hit the $1,500 restrict.

To enhance your probabilities of maximizing your cash-back earnings, frequently monitor your progress towards hitting the spending cap every quarter out of your Chase account.

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