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Chase Freedom Flex and Chase Freedom earn 5% cash back on rotating quarterly categories on up to $1,500 in combined purchases each quarter after activation, then 1%. Discover it Cash Back earns 5% on quarterly categories on up to $1,500 in purchases each quarter after activation, from the quarter start or the activation date, whichever is later. U.S. Bank Cash+ requires you to pick your categories each quarter. All three cards have a $0 annual fee.
These programs let you earn elevated rates on specific categories for three-month periods. Activation or enrollment is required for the bonus rate to apply. The Q4 2026 categories are active now through December 31.
Our own free tracker, RewardTracker.io, lets you track two cards free; a one-time $10 unlock adds the rest of the catalog on that account.
At a Glance
| Card | Q4 2026 5% categories | Quarterly cap | Activation |
|---|---|---|---|
| Chase Freedom Flex | Grocery stores (excluding Walmart and Target), dining, American Red Cross donations | $1,500 | By December 14, 2026 for retroactive from October 1 |
| Discover it Cash Back | Restaurants, entertainment, utilities | $1,500 | Required; starts later of October 1 or activation date |
| U.S. Bank Cash+ | Two categories you choose | $2,000 | Enroll each quarter |
as of October 2026
Chase Q4 activation by December 14 makes the 5% retroactive to October 1 up to the cap. Discover starts from the later of the quarter start or activation date. U.S. Bank selections take up to three business days and are not retroactive. See the calendars below for full year details.
How Rotating 5% Categories Work
Rotating quarterly 5% categories on cards like Chase Freedom Flex, Discover it Cash Back and U.S. Bank Cash+ turn everyday spending into higher cash back when you activate or enroll. As of October 2026, these programs let cardholders earn elevated rates on specific merchants or categories for three-month periods instead of the standard 1% base rate. See best cards for dining rewards and Chase Freedom Flex vs Capital One Venture for related comparisons.
Caps and activation basics
Chase Freedom Flex and Chase Freedom earn 5% cash back on rotating quarterly categories on up to $1,500 in combined purchases each quarter after activation, then 1%. Chase Freedom 5% details confirm the combined cap across the activated categories. Discover it Cash Back earns 5% on quarterly categories on up to $1,500 in purchases each quarter after activation, from the quarter start or the activation date, whichever is later (not retroactive). Discover calendar requires activation for each quarter. U.S. Bank Cash+ Visa Signature earns 5% cash back on the first $2,000 in combined eligible purchases each quarter in two categories you choose. U.S. Bank Cash+ page states cardmembers must enroll in categories each quarter or all Net Purchases earn no more than 1%.
Without activation or enrollment, the bonus rate does not apply. For Chase, activation by the deadline can make the rate retroactive within the quarter for Q4. For Discover, the start is the later of the quarter start or activation date. For U.S. Bank, selections made during the quarter take up to three business days to take effect and are not retroactive.
Everyday rates vs bonus rates
Freedom Flex everyday rates include 5% on Chase Travel, 3% on dining, 3% at drugstores, 1% on all other purchases, and $0 annual fee. Chase Freedom Flex page lists these non-bonus rates. The quarterly 5% stacks on top of the base for the activated categories up to the cap. Discover it Cash Back earns unlimited 1% cash back on all purchases outside activated 5% categories. Discover it Cash Back also matches all the cash back new cardmembers earn at the end of their first year. U.S. Bank Cash+ earns 2% on one everyday category you choose with no quarterly cap, 1% elsewhere, and $0 annual fee.
The bonus rate of 5% is temporary and category-specific, while everyday rates apply year-round without activation for their listed merchants. Tracking which categories are active each quarter avoids leaving the higher rate unused.
Max earnings example
On $1,500 of Q4 grocery spend after activation, Freedom Flex earns $75 at 5% instead of $15 at 1%. On dining, Freedom Flex earns 7%, or $105. Discover offers the same $1,500 × 5% = $75 maximum in the 5% category per quarter. U.S. Bank Cash+ allows $2,000 × 5% = $100 on the combined chosen categories before dropping to 1%. These figures assume full use of the cap on eligible purchases after proper activation or enrollment.
Freedom Flex cash back is really Ultimate Rewards points, which can be worth more than 1 cent each when moved to a Sapphire card (see our points valuations). $1 equals 100 points and can be moved to another Chase card with Ultimate Rewards belonging to you or one household member. Sapphire Reserve, Sapphire Preferred and Ink Business Preferred are the cards that can transfer points to travel partners.
See also Chase Freedom Unlimited vs Freedom Flex for how the rotating categories fit alongside unlimited 1.5% options.
as of October 2026
Chase Freedom Flex 2026 calendar
Chase Freedom Flex and Chase Freedom share the same rotating quarterly 5% categories for 2026. As of October 2026, the program covers four quarters with specific merchants and donation options after activation. Chase Q1 2026 announcement starts the year with dining-focused options. The combined purchases cap remains $1,500 per quarter for the 5% rate, then 1%.
| Quarter | Dates | 5% categories |
|---|---|---|
| Q1 | Jan 1-Mar 31 | Dining, donations to the American Heart Association, Norwegian Cruise Line purchases |
| Q2 | Apr 1-Jun 30 | Amazon, Whole Foods Market and Chase Travel purchases, plus donations to Feeding America |
| Q3 | Jul 1-Sep 30 | Gas stations and electric vehicle charging, public transit, select live entertainment and donations to United Way |
| Q4 | Oct 1-Dec 31 | Grocery stores (excluding Walmart and Target), dining, and donations to the American Red Cross |
as of October 2026
Q1 2026 runs January 1 through March 31 with dining, American Heart Association donations and Norwegian Cruise Line purchases. Official Q1 release lists these. Q2 covers April 1 through June 30 on Amazon, Whole Foods Market, Chase Travel and Feeding America donations. Q2 categories page confirms the list. Q3 from July 1 through September 30 includes gas stations and EV charging, public transit, select live entertainment and United Way donations. Q3 announcement details the merchants. Q4 from October 1 through December 31 focuses on grocery stores excluding Walmart and Target, dining and American Red Cross donations, with activation by December 14, 2026. Q4 categories release states the deadline and retroactive rule.
Activation by December 14, 2026 earns 5% on all bonus-category purchases in the quarter dating back to October 1, 2026, up to $1,500. Everyday rates remain 5% on Chase Travel, 3% on dining, 3% at drugstores and 1% elsewhere with $0 annual fee. The quarterly bonus is earned as cash back and rewards do not expire.
Q4 category fine print
Grocery stores for Q4 2026 include supermarkets, merchants that offer a full-service grocery line of merchandise including a deli and bakery, and smaller grocery stores. Delivery service merchants are included if they classify as a grocery store merchant. Exclusions cover larger stores that sell a wide variety of goods and groceries such as Walmart and Target, wholesale clubs, warehouse clubs, discount stores, some smaller merchants such as drugstores, merchants that specialize in only a few grocery items, and purchases made at gas stations from merchants who also operate grocery stores. Chase Q4 fine print lists these inclusions and exclusions.
Dining includes merchants whose primary business is sit-down or eat-in dining, including fast food restaurants and fine dining establishments. Delivery and takeout services are included if they classify as a restaurant merchant. Exclusions are merchants that sell food and drinks located within facilities such as sports stadiums, hotels and casinos, theme parks, grocery and department stores unless the merchant has set up such purchases to be classified in a restaurant category; bakeries, caterers, meal kit delivery services, and gift card merchants are not included.
American Red Cross donations must be made directly through American Red Cross official channels to qualify. Chase's Freedom Flex page says that in Q4 2026, dining earns 7% cash back (3% dining cash back + 4% bonus category cash back). The 4% bonus applies to up to $1,500 in combined bonus-category purchases, so $1,500 of Q4 dining earns $105 and $1,500 of Q4 grocery spend earns $75.
Past Chase Calendars: 2024 and 2025
In 2025, Chase Freedom's Q1 categories were Norwegian Cruise Line, grocery stores, fitness clubs and hair, nails and spa services (plus tax preparation and insurance in March). Q2 was Amazon, including Whole Foods Market, and select streaming services (plus internet, cable and phone in June). Q3 was Instacart, select live entertainment, gas stations and EV charging. Q4 was Chase Travel, department stores and Old Navy (plus PayPal in December). In Q4 2024 the categories were McDonald's, PayPal, pet shops and vet services, and select charities.
The pattern shows rotating focus on common spend areas plus charity donations in some quarters. Past lists help illustrate how categories shift each year while the $1,500 combined cap and activation requirement stay consistent.
Plan grocery and dining spend to hit the $1,500 combined cap while the categories are active. Freedom Flex earns $75 on $1,500 of grocery purchases and $105 on $1,500 of dining purchases in Q4.
Next Quarter: Q1 2027 Chase Categories
Chase has posted Q1 2027 (January 1 to March 31) categories for Freedom and Freedom Flex: grocery stores (excluding Walmart and Target) and top streaming services, on up to $1,500 in combined purchases. Activation opens December 15, 2026. Chase's Freedom Flex calendar confirms the upcoming list.
Discover hasn't announced Q1 2027 categories yet. Focus on the Chase preview for now and set a reminder for mid-December to activate.
as of October 2026
Discover it 2026 calendar
Discover it Cash Back earns 5% on quarterly categories on up to $1,500 in purchases each quarter after activation. The rate starts from the quarter start or the activation date, whichever is later. Discover's 2026 calendar shows the full year. Discover it has no annual fee.
| Quarter | Dates | 5% categories |
|---|---|---|
| Q1 | Jan 1-Mar 31 | Grocery stores, wholesale clubs and select streaming services |
| Q2 | Apr 1-Jun 30 | Restaurants and home improvement stores |
| Q3 | Jul 1-Sep 30 | Gas stations, transportation and drug stores |
| Q4 | Oct 1-Dec 31 | Restaurants, entertainment and utilities |
as of October 2026
Q1 covers grocery stores, wholesale clubs and select streaming. Q2 is restaurants and home improvement stores. Q3 is gas stations, transportation and drug stores. Q4 is restaurants, entertainment and utilities. Activation is required each quarter and is not retroactive.
Q4 definitions
Restaurants include full-service restaurants, cafes, cafeterias, fast-food locations and caterers; restaurants inside hotels or retail stores and bakeries may not qualify. Entertainment includes tickets at movie theaters, sports, theater and concert promoters, amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls and bowling alleys; streaming and subscription services, golf courses and country clubs do not qualify. Utilities include residential electricity, natural gas and water, plus internet, cable, satellite TV and phone service paid by phone or online; payments through a landlord or HOA and home fuel delivery may not qualify.
New cardmembers receive a Cashback Match at the end of the first year that matches all cash back earned. The 5% applies only after activation up to the $1,500 cap, then 1%.
Past Discover calendar: 2025
In 2025, Discover's Q1 categories were restaurants, home improvement stores and select streaming; Q2 was grocery stores and wholesale clubs; Q4 was Amazon.com and drug stores.
The 2025 pattern mixed everyday categories with online and home-related spend. Activation rules were the same: later of quarter start or activation date, $1,500 cap.
U.S. Bank Cash+ choose-your-own 5%
U.S. Bank Cash+ Visa Signature offers 5% cash back on the first $2,000 in combined eligible purchases each quarter in two categories you choose, 2% on one everyday category you choose, 1% elsewhere, and a $0 annual fee. As of October 2026, U.S. Bank Cash+ official page states that cardmembers must enroll in categories each quarter. Without enrollment, all Net Purchases earn no more than 1% cash back. The 5% applies only to the first $2,000 combined in the two chosen categories; amounts over $2,000 in those categories earn 1%. The 2% everyday category has no quarterly cap.
Category selections can be made up to 45 calendar days before each quarter begins. Selections may be changed up to five calendar days before the quarter begins, after which they cannot be changed. Selections made during the quarter take up to three business days to take effect and are not retroactive. Enrollment channels are the Rewards Center online at usbank.com or through the U.S. Bank Mobile App, or by phone calling the number on the back of the card.
How the choose-your-own works
Each quarter, cardmembers pick two 5% categories and one 2% everyday category from the available options. The 5% rate covers the first $2,000 in combined eligible Net Purchases across the two chosen categories. After that threshold, those purchases drop to the 1% rate. The single 2% category earns unlimited 2% with no cap. All other eligible purchases earn 1%. An additional 4% (5% total) applies to prepaid air, hotel and car reservations booked directly in the U.S. Bank Travel Center. Cash rewards expire at the end of the calendar month 36 months after the billing cycle in which they were earned.
For example, selecting fast food and home utilities as the two 5% categories and grocery stores as the 2% category allows $2,000 × 5% = $100 on the combined fast food and utilities spend, plus unlimited 2% on grocery. Changing categories only within the allowed window before the quarter starts keeps the rates aligned with expected spending. The $2,000 combined cap means the two 5% categories share the elevated rate; spending $1,200 in one and $800 in the other still earns 5% on the full $2,000.
Category options
5% category options include fast food, home utilities, TV/internet/streaming, department stores, cell phone providers, electronics stores, sporting goods, furniture stores, movie theaters, ground transportation, gyms/fitness centers and select clothing stores. Grocery stores and grocery delivery can be chosen as the 2% everyday option but exclude discount stores/supercenters and wholesale clubs. The list of available categories may change on a quarterly basis, so confirming the current options in the Rewards Center before the selection deadline is necessary. Selections lock after the five-day window before the quarter starts.
Enrollment requirement
Enrollment is required each quarter. Missing the enrollment means the card earns no more than 1% on all Net Purchases for that quarter. The process takes place online, in the app or by phone. Once selected within the pre-quarter window, the categories lock in until the next selection period. Purchases in the chosen categories after the three-business-day processing window for mid-quarter changes earn the elevated rate. This choose-your-own structure differs from the fixed rotating calendars on Chase Freedom Flex and Discover it by letting the cardholder match the 5% rate to two preferred merchants or services each quarter up to the $2,000 combined cap. Recurring bills such as utilities or streaming benefit from setting the categories before the quarter begins so the first of the month posts at 5%.
The 2% everyday category provides an unlimited rate on one chosen merchant type with no quarterly limit. Choosing grocery stores as the 2% option covers everyday food shopping without a cap, while the two 5% slots cover higher-rate categories such as utilities and fast food. Tracking the combined $2,000 spend across the two 5% categories keeps the elevated rate active for the full quarter. Cash rewards earned under these rates expire after 36 months from the billing cycle in which they were earned, so redeeming periodically avoids loss.
Activation steps and caps
Activation is required for the quarterly 5% rates on Chase Freedom Flex, Discover it Cash Back, and U.S. Bank Cash+. As of October 2026, each program sets its own channels, timing rules, and spending caps.
Chase activation
Chase Freedom Flex and Chase Freedom require activation of the rotating quarterly categories. For Q4 2026 the deadline is December 14, 2026. Activate at ChaseBonus.com, in the Chase Mobile app, by calling the number on the back of the card or Chase Customer Service at (800) 432-3117, or with a personal banker at a Chase location. Activation by that date applies the 5% rate retroactively to eligible bonus-category purchases from October 1, 2026, up to the $1,500 combined quarterly cap. Above the cap, purchases earn the standard 1% cash back. Cardmembers can earn up to $75 cash back per quarter on the $1,500 cap at the 5% rate. Rewards do not expire.
Discover activation
Discover it Cash Back requires activation each quarter. The 5% Cashback Bonus begins on the later of the quarter start date or the activation date and is not retroactive. Activation channels are the Discover mobile app, the online account, calling the customer service number on the back of the card, or responding to the quarterly reminder email. The quarterly cap is $1,500 in purchases. Cardmembers can earn up to $75 cash back per quarter in the 5% category on that cap. Rewards do not expire for the life of the account and can be redeemed in any amount. Discover Bank merged into Capital One; if a Discover card is eligible to be managed through the Capital One app or website, log in there for the benefits and features that apply to the card.
U.S. Bank enrollment
U.S. Bank Cash+ Visa Signature requires enrollment in two 5% categories each quarter. Enrollment channels are the Rewards Center online at usbank.com or through the U.S. Bank Mobile App, or by phone calling the number on the back of the card. Categories can be chosen up to 45 calendar days before each quarter begins. Selections may be changed up to five calendar days before the quarter begins; after that they cannot be changed. Selections made during the quarter take up to three business days to take effect and are not retroactive. Without enrollment, all Net Purchases earn no more than 1% cash back. The 5% rate applies to the first $2,000 in combined eligible Net Purchases each quarter in the two chosen categories; purchases over $2,000 in the 5% categories earn 1% cash back. The 2% rate on the one chosen everyday category has no quarterly cap.
| Card | Quarterly Cap | Activation Rule | Notes |
|---|---|---|---|
| Chase Freedom Flex | $1,500 combined | Activate by Dec 14, 2026 for retroactive 5% from Oct 1 | Up to $105 on $1,500 dining at 7%; up to $75 on grocery at 5%; then 1% |
| Discover it Cash Back | $1,500 | 5% from later of quarter start or activation date; not retroactive | Up to $75 at 5%; rewards do not expire |
| U.S. Bank Cash+ | $2,000 in two chosen 5% categories | Enroll each quarter; selections not retroactive | Over $2,000 earns 1%; 2% everyday unlimited |
The $1,500 combined cap on Chase applies to all activated rotating categories in the quarter. Discover uses the same $1,500 figure for its 5% category. U.S. Bank’s $2,000 figure is only for the two chosen 5% categories; the separate 2% everyday category has no cap. Chase’s retroactive window for Q4 is unique among the three. Discover and U.S. Bank both start the elevated rate on or after the activation or enrollment date. Missing the Chase December 14 deadline means only purchases after activation earn 5%, up to the remaining room under the $1,500 cap. For Discover, an activation on November 15, 2026, would earn 5% only from that date forward on the Q4 categories, still subject to the $1,500 cap through December 31.
U.S. Bank’s pre-quarter window of 45 days lets cardmembers set categories before the quarter begins. The five-day lock before the quarter starts prevents last-minute changes. During-quarter changes take up to three business days and do not cover earlier purchases. That timing matters for recurring bills such as utilities or streaming that post on the first of the month. All three programs post the elevated rate as cash back. Chase and Discover rewards do not expire. U.S. Bank cash rewards expire at the end of the calendar month 36 months after the billing cycle in which they were earned. Tracking the activation status each quarter avoids earning only the 1% rate on otherwise eligible spend.
Worked example for Chase: $1,500 of Q4 grocery spend after activation by December 14 yields $75 at 5%. The next dollar in those categories earns 1%, or $0.01. For Discover the same $1,500 after activation yields $75, but only on purchases on or after the activation date. For U.S. Bank, $2,000 in the two chosen categories yields $100 at 5%; the next dollar in those categories earns 1%.
Stacking: how Q4 dining reaches 7%
Freedom Flex everyday rates include 3% on dining. Q4 2026 includes dining as a quarterly category. Chase's Freedom Flex page says that in Q4 2026, dining earns 7% cash back (3% dining cash back + 4% bonus category cash back). The 4% bonus applies to up to $1,500 in combined bonus-category purchases, so $1,500 of Q4 dining earns $105 and $1,500 of Q4 grocery spend earns $75.
Freedom Flex earns 3% on dining as an everyday rate, in addition to 5% on Chase Travel, 3% at drugstores, and 1% on all other purchases. The $0 annual fee applies. Dining includes merchants whose primary business is sit-down or eat-in dining, including fast food restaurants and fine dining establishments. Delivery and takeout services are included if they classify as a restaurant merchant. Exclusions cover merchants that sell food and drinks located within facilities such as sports stadiums, hotels and casinos, theme parks, grocery and department stores unless the merchant has set up such purchases to be classified in a restaurant category. Bakeries, caterers, meal kit delivery services, and gift card merchants are not included.
Quarterly bonus addition
Activation by December 14, 2026 applies the 5% (and thus the stacked 7% on dining) retroactively to eligible purchases from October 1, 2026. Purchases above the $1,500 combined cap earn the standard 1% cash back.
The stacking applies only while dining is an active quarterly category and only up to the combined $1,500 cap shared with grocery and Red Cross donations. After the cap is reached, further dining purchases earn the everyday 3% rate. Tracking spend across all Q4 bonus categories keeps the elevated rates active for as long as possible. Rewards do not expire.
For a $1,200 dining purchase and $300 grocery purchase in the activated quarter, the dining portion earns 7% or $84 and the grocery portion earns 5% or $15, for a total of $99 on the $1,500. Any additional spend in those categories earns 1%. The 7% stack applies in any quarter where dining is a Freedom Flex bonus category; in 2026 that was Q1 and Q4.
Bottom Line
Quarterly 5% categories on Chase Freedom Flex, Discover it Cash Back, and U.S. Bank Cash+ reward activated or enrolled spending up to each program's cap. Freedom Flex reaches 7% on Q4 2026 dining after activation, or $105 on $1,500, while $1,500 of Q4 grocery earns $75. Discover it requires activation each quarter and starts the 5% rate on the later of the quarter start or the activation date. U.S. Bank Cash+ lets you choose two 5% categories up to a combined $2,000 each quarter plus one unlimited 2% everyday category. All three cards have a $0 annual fee. Activation or enrollment is required to earn above 1% on the elevated categories. Chase Q1 2027 categories are grocery stores (excluding Walmart and Target) and top streaming services, available to activate December 15, 2026. Tracking the caps and deadlines keeps the elevated rates active through the end of 2026.
FAQ: Quarterly 5% Bonus Categories
What are the Q4 2026 categories for Chase Freedom Flex?
Chase Freedom Flex Q4 2026 (October 1 to December 31) categories are grocery stores (excluding Walmart and Target), dining, and donations to the American Red Cross, on up to $1,500 in combined purchases after activation. Activate by December 14, 2026 for the 5% rate retroactive to October 1. On dining the rate stacks to 7%.
How much does Freedom Flex earn on $1,500 of Q4 dining and grocery?
On $1,500 of Q4 dining after activation, Freedom Flex earns $105 at 7% (3% dining + 4% bonus category). On $1,500 of Q4 grocery spend after activation, Freedom Flex earns $75 at 5%. The combined $1,500 cap is shared across the bonus categories.
What are the Q4 2026 categories for Discover it?
Discover it Cash Back Q4 2026 categories are restaurants, entertainment and utilities. Activate to earn 5% Cashback Bonus on up to $1,500 in purchases from the later of October 1, 2026 or the activation date through December 31, 2026. The 5% is not retroactive.
How does U.S. Bank Cash+ choose-your-own 5% work?
U.S. Bank Cash+ offers 5% cash back on the first $2,000 in combined eligible purchases each quarter in two categories you choose, 2% on one everyday category you choose, and 1% elsewhere. Enrollment is required each quarter. Without enrollment, all Net Purchases earn no more than 1% cash back.
What are the activation deadlines and rules?
Chase Freedom Flex Q4 activation by December 14, 2026 applies the 5% rate retroactively from October 1 up to the $1,500 cap. Discover activation starts the 5% on the later of the quarter start or the activation date and is not retroactive. U.S. Bank selections can be made up to 45 days before the quarter and locked five days before it starts.
What are Chase Freedom Flex Q1 2027 categories?
Chase Freedom and Freedom Flex Q1 2027 (January 1 to March 31, 2027) 5% categories are grocery stores (excluding Walmart and Target) and top streaming services, on up to $1,500 in combined purchases. Activation opens December 15, 2026.
Do these cards have an annual fee?
Chase Freedom Flex, Discover it Cash Back, and U.S. Bank Cash+ each have a $0 annual fee. The elevated quarterly rates require activation or enrollment and apply only up to each program's stated cap.
How is Freedom Flex cash back tracked?
Freedom Flex cash back is tracked as Ultimate Rewards points ($1 = 100 points) and can be moved to another Chase card with Ultimate Rewards belonging to you or one household member. Sapphire Reserve, Sapphire Preferred and Ink Business Preferred are the cards that can transfer points to travel partners.