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The Chase Freedom® is not currently available to new cardholders. Please visit our list of the best cash-back cards for alternative options.
To help reduce the impact of rising fuel prices the Chase Freedom Flex℠ card and Chase Freedom® card will allow consumers to earn extra cash back on gas purchases from July through September.
Here’s what you need to know about the new Q3 promotions and how to activate them, plus a few tips to help you save on future trips to the pump this summer and beyond.
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Chase Freedom’s Q3 5% cash-back categories
Chase Freedom cards are known for their excellent cash-back rates and revolving quarterly 5% categories. Each quarter, the cards feature certain 5% cash-back categories (good for up to $1,500 worth of combined purchases), allowing cardholders to put up to $75 back in their pockets.
From July 1 through September 30, both the Chase Freedom Flex and Chase Freedom (no longer available for new applications) will allow you to earn 5% cash back on gas station purchases (on up to $1,500 in spend). Note that Chase Freedom Flex and Freedom cardholders can also earn 5% cash back by spending at movie theaters, car rental agencies and certain live entertainment venues this summer.
Once you’re approved for a Chase Freedom Flex℠, be sure to activate the quarterly spending categories by clicking on this link and plugging in your last name, the last four digits of your card and your zip code. To take advantage of the Q3 promotions mentioned in this article, make sure this is done by September 14, 2022.
Chase Freedom Flex
The Chase Freedom Flex℠ is a solid no annual fee cash-back credit card for consumers looking to save money on their daily purchases. New cardholders can earn $200 in cash back after spending $500 within the first three months of card membership. As you spend with the card, you will earn:
- 5% cash back for spending on rotating categories — listed on the Chase Freedom category calendar — for up to $1,500 in combined purchases each quarter, upon activation.
- 5% cash back for travel purchased via the Chase Ultimate Rewards® travel portal
- 3% cash back for dining at restaurants, ordering takeout and dining through certain delivery services
- 3% cash back for purchases made at drugstores
- 1% cash back for all other purchases
The card also comes with valuable benefits such as cell phone protection, extended warranty and purchase protection, trip cancellation and interruption insurance, fraud monitoring and credit score services, rental car insurance (via auto rental collision damage waiver), access to travel and emergency assistance, a complimentary one-year subscription to ShopRunner and cardholder deals and discounts with Lyft, Fandango and HelloFresh.
Lastly, if you’re looking to finance a large purchase with no interest, this card comes with a 0% introductory APR for the first 15 months from account opening, which you can use for purchases and balance transfers (variable APR of 15.74%–24.49% afterward). This can be an especially solid option if you need to make a home improvement or purchase a vehicle.
Chase Freedom Flex℠
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Rewards
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases
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Welcome bonus
$200 cash back after you spend $500 on purchases in your first three months from account opening
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Annual fee
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Intro APR
0% for the first 15 months from account opening on purchases and balance transfers
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Regular APR
15.74% to 24.49% variable
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Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
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Foreign transaction fee
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Credit needed
Other ways to save money on gas
Everyone is searching for ways to save more money on gas as prices continue to soar to record highs. Besides reducing your time on the road or using public transportation, here are a few more options to consider.
Purchase gas from a wholesale club
Costco is a favorite of mine for many reasons, but mainly for its affordable fuel. You can regularly find Costco and other wholesale clubs selling gas for less than your local gas station — one drawback, however, is you may have to wait in long lines if you go there during peak hours. Plus, you’ll need to be a Costco member, which requires you to pay a yearly membership fee.
If you’re hunting for a solid discount this summer, consider pairing your Costco gas purchase with the Costco Anywhere Visa® Card by Citi, which lets you earn 4% cash back on eligible gas for the first $7,000 per year, then 1% cash back after that point. By maximizing this benefit, you can potentially put $280 back in your pocket each year, which more than covers the cost of a Costco membership (which starts from $60 per year).
Costco Anywhere Visa® Card by Citi
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Rewards
4% cash back on eligible gas for the first $7,000 per year (then 1%); 3% cash back on restaurants and eligible travel purchases; 2% cash back on all other purchases from Costco and Costco.com; 1% cash back on all other purchases
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Welcome bonus
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Annual fee
$0, Costco membership required
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Intro APR
N/A for purchases and balance transfers
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Regular APR
16.74% variable on purchases and balance transfers
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Balance transfer fee
5% of each balance transfer; $5 minimum
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Foreign transaction fee
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Credit needed
Use apps to find the cheapest gas near you
If you simply want to save a few bucks on gas, try using apps such as GasBuddy to help you find the cheapest gas possible in your area. You’ll be able to see prices based on what people are paying at gas stations around the country, and the free version of the app is sufficient for most drivers.
Consider selling your car or buying a fuel-efficient vehicle
Car prices are still incredibly high and you may be able to cash in on that. If your car has less than favorable gas mileage and you drive on a regular basis, you could benefit from switching to a more fuel-efficient vehicle.
To find out the value of your car, check vehicle-selling websites such as the Kelley Blue Book or Carvana. From there, you can easily shop around for a more fuel-efficient vehicle within your budget, which may also help you save hundreds per month in fuel costs this summer.
Bottom line
Budgets have become crunched for many Americans due to inflation, and gas is just another expense on the list of rising costs. For those who consider driving an essential part of their life — leaving them with no choice but to shell out for fuel — being armed with the right credit card and tools might allow you to mitigate some of the pain you’ve been feeling at the pump.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
