You may have heard of rotating bonus categories if you’re looking for a new credit card. These are the expenditure categories that, at particular times of the year, give more rewards. For instance, you might receive 5% cash back on grocery shop purchases from January to March and then petrol stations from April to June as the bonus category.
To maximize your rewards and earn extra cash back or points on your purchases, rotating bonus categories can be a fantastic strategy. It’s crucial to comprehend how they operate and whether they are worthwhile for you. What you should know is as follows.
Most credit cards with a quarterly rewards program offer rotating bonus categories. This means that the card issuer releases a new list of bonus categories that will earn you additional rewards every three months. Anything from department stores to eateries to home improvement retailers could fall under these categories.
You must use your card at the proper locations at the appropriate times in order to benefit from the rotating bonus categories. You will receive additional points on all of your grocery purchases made during that quarter, for instance, if the bonus category is grocery stores. However, you will only receive the usual rewards rate if you make purchases from a retailer that is not a participant.
Depending on your purchasing patterns and financial objectives, you can decide whether or not rotating bonus categories are worthwhile for you. If you frequently make large purchases in the bonus categories, you may accumulate a sizable sum of extra rewards over the course of the year. However, you might not see much of a gain if you don’t generally spend much money in those categories.
The annual cost for the card should be taken into account as well. Annual fees on some credit cards with rotating bonus categories can reduce your rewards payouts. However, certain cards, like the Chase Freedom Flex, also provide rotating bonus categories without an annual charge.
A well-known credit card with no annual fee and changing bonus categories is the Chase Freedom Flex. Along with other benefits like purchase protection and extended warranty coverage, it also offers a sizable sign-up bonus. The Chase Freedom Flex is typically regarded as a mid-tier credit card that’s available to many people, while exact eligibility conditions depend on your credit history and income.
The value of the Chase Freedom Flex card may also be questioned. This ultimately depends on your personal spending patterns and objectives. The Chase Freedom Flex can be a fantastic option if you can take advantage of the shifting bonus categories and accumulate enough rewards to pay any annual fee. A different card might be a better fit, though, if you don’t frequently spend much in the bonus areas or want a different kind of rewards scheme.
Finally, changing bonus categories might be a fantastic method to increase the rewards you receive for using your credit card. However, it’s crucial to comprehend how they operate and whether they are a good fit for your goals and spending patterns. Consider the Chase Freedom Flex or other comparable cards with no annual fee and a high rewards program if you’re looking for a card with rotating bonus categories.