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Chase Announces Freedom 5% Bonus Categories for Q1 2024
With the new year just around the corner, Chase has announced its 5% bonus category picks for the first quarter of 2024 — including some unique selections.
About the bonus categories:
Starting off the first quarter bonus category selections is a favorite: grocery stores. This includes supermarkets, smaller grocery stores, and “merchants that offer a full-service grocery line of merchandise.” Notably, Target and Walmart are explicitly excluded from this category as are similar retailers, warehouse clubs, and more.
Next, Freedom and Freedom Flex customers can also earn up to 5% back on Fitness Club & Gym Memberships in Q1 2024. Health clubs, exercise, or athletic facilities requiring membership are all included in this category.
Lastly, Chase has also included a Self-Care & Spa Services category in their first quarter selections. According to Chase’s terms, this includes services such as massages, spa treatments, manicures, tanning, and barber/salon services purchased at merchant locations that specialize in their respective services. The bank also notes some exceptions, such as spa service purchased at a hotel not qualifying for this bonus category. Additionally, services provided by medial professionals will not qualify.
Chase Freedom and Freedom Flex customers will need to activate this offer by March 14th, 2024 to be eligible. To do so, cardholders should visit ChaseBonus.com. The 5% rate is capped at a combined bonus category total of $1,500 in spending for the quarter, meaning that cardholders can earn up to $75 in rewards from this offer.
In addition to these reveals, Chase did tease future inclusions, stating, “Throughout 2024, cardmembers can expect to save more on a mix of purchases, feeling the rewards on purchases that revolve around celebrating with loved ones, and those special moments that matter.”
What they’re saying:
Commenting on next quarter’s categories and the theme Chase is going for, Chase Freedom GM Brent Reinhard said, “We’re starting 2024 with a fresh twist on resolutions by introducing new themes for Freedom Flex’s quarterly bonus categories. Think of this as a quarter for YOU! We want our cardmembers to embrace the new and experience the joy of cashbacking while focusing on their health, relaxation, and nourishment. With Chase Freedom, your resolutions don’t just feel good, they pay off!”
My thoughts:
Overall, I have to give Chase a thumbs-up for theming. In particular, leaning into the “self-care” trend and turning that into a bonus category is pretty genius. It’s also smart to appeal to the New Year’s resolution crowd.
As for whether these are actually good categories in terms of allowing cardholders to maximize rewards, that’s a bit of a different story. While I’m sure some people spend $500 a month (for $1,500 in the quarter) on gym memberships and spa visits, that does seem like bit of a stretch for most. Luckily, the grocery store category is there for those of us who don’t go to the gym.
With the tease Chase offered in regards to how they’re approaching next year’s rotating bonus categories, I’m very interested to see what they cook up throughout 2024.
Note: Click here for the current Chase Freedom Bonuses.
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