One of the most rewarding cash-back credit cards, Chase Freedom, offers an opportunity to earn 5% back on certain purchases each quarter. And, if you happen to have a transfer-enabled Ultimate Rewards-earning card such as Chase Sapphire Reserve or the Chase Sapphire Preferred Card, you can instantly convert your cash back to points at a rate of 1 cent per point and make your points transferable to Chase’s airline and hotel partners. Armed with this combo in your wallet, you can easily earn 5x Ultimate Rewards points on eligible purchases in the third quarter of 2018.
Currently, you can earn bonus points on grocery, Paypal and Chase Pay purchases, but those categories expire at the end of June. Now we know which purchases will earn you a bonus this summer — the next batch kicks in on July 1 and includes the following categories:
- Lyft
- Walgreens
- Gas Stations
You can activate the Q3 bonus starting on June 15 by entering your card details here, or keep an eye out for a one-click activation email from Chase. This new bonus runs through September 30, after which a to-be-announced fourth quarter bonus opportunity will kick in.
If you don’t already have a Chase Freedom, the card currently offers a sign-up bonus of $150 (or 15,000 points if you have an Ultimate Rewards-earning card) after you spend $500 in the first three months. The card has no annual fee and should be a key part of your strategy to earn and maximize Ultimate Rewards points.