Now live: Chase Freedom cardholders can earn 5% back on PayPal and Walmart purchases this quarter

Editor’s note: This is The Points Guy’s master guide to the Chase Freedom and Chase Freedom Flex’s latest quarterly bonus categories.

Holiday shoppers, rejoice — Chase Freedom has brought back PayPal and Walmart as eligible merchants for the fourth quarter bonus categories for the third year in a row.

Chase Freedom (no longer available to new applicants) and Chase Freedom Flex℠ cardmembers are now able to activate 5% cash back (or 5 points per dollar) on the PayPal and Walmart Q4 bonus categories. The bonus-earning Q4 window is now live and runs through Dec. 31, 2022.

After activation, cardmembers will be able to earn 5% back (or 5 points per dollar spent) on up to $1,500 of spending in these categories during the eligible quarter, and 1% (or 1 point per dollar spent) after that.

Want to make sure you’re maximizing every purchase like a points expert? Download the free TPG App to start spending like a pro.

With prices for everything from food to goods continuing to rise, earning cash back on everyday purchases from Walmart and through PayPal is a great way to stretch your dollar during a high-spend time of year. You can complete your purchases with PayPal at a wide variety of merchants, from Apple and Delta Air Lines to Home Depot and Zara.

Here’s how it all works.

Chase Freedom and Freedom Flex Q4 2022 categories

From Oct. 1 through Dec. 31, 2022, Chase Freedom and Chase Freedom Flex cardmembers can earn 5% cash back (or 5 points per dollar) on spending in the following categories:

Thankfully, it’s simple to complete this process online through your Chase account — with your last name, last four digits of your card and ZIP code. Registration is now open.

Analyzing the Q4 bonus categories

Whether booking travel to grocery shopping, everyone has felt the pinch of inflation this year. As we look to potentially spend more this holiday season, the PayPal and Walmart bonus categories are sure to help us make the most of our increased spending.

The categories tend to repeat periodically — for instance, grocery stores, restaurants and gas stations are all common categories that you’ll notice frequently pop up on the cash-back calendar. So depending on the categories and whether you can maximize them, these two cards can offer quite a nice chunk of cash back or bonus points over the course of a year.

You can head over to Chase’s site to activate your 5% cash back (or 5 points per dollar) for this quarter. You can also register through your Chase mobile app, making one less credit card website you’ll need to visit regularly this year.

Here’s how to register:

1. Head to the Chase bonus activation page or log in to your Chase account.
2. Enter your last name, the last four digits of your card number and your billing ZIP code. If you don’t have your card on hand, log in to your Chase account to retrieve these digits.
3. Click “Activate your 5%” to register.
4. If you have multiple Chase Freedom cards, make sure to register each one.
5. Save a screenshot of your activation, just in case there are any issues later — though you should also receive a “You’re Activated!” confirmation email.

Can I have both the Chase Freedom and Chase Freedom Flex to double my earning potential?

Yes, you can have both cards. So if you already have the Chase Freedom and want to add the Chase Freedom Flex to your wallet, you’re free to do so. Just keep in mind that the original Freedom card is no longer open to new applicants.

But if you’d rather only have one, the Freedom Flex is available as a product change.

And of course, you’ll also want to make sure you’re eligible for a new Chase card.

How do I maximize my Freedom and Freedom Flex cards?

The most important thing is to make sure you activate your card to earn the 5% cash back (or 5 points per dollar) each quarter in the specific categories, and then actually use your card for purchases in those categories.

You can set up a recurring reminder in your calendar, or you can sign up for the TPG newsletter (we send out a reminder when it’s time to activate every quarter — plus tips and tricks for maximizing your card strategy and scoring some excellent award redemptions).

Better yet, paired with a Chase credit card that earns fully transferable Ultimate Rewards points like the Chase Sapphire Reserve or the Chase Sapphire Preferred Card, the Chase Freedom Flex’s 5% cash back effectively becomes 5 Ultimate Rewards points per dollar, as you can learn all about in our guide detailing the “Chase Trifecta.”

In that case, you’ll be able to transfer the points earned with the Freedom Flex to Ultimate Rewards points and to travel partners like Southwest, Hyatt and United.

What are common bonus categories for the Freedom and Freedom Flex?

Of course, you’ll also want to make sure that you’ll potentially be able to maximize other bonus categories throughout the year. For reference, here are the previous Chase Freedom quarterly categories all the way back to 2012, so you can decide if common categories make sense for your spending patterns:

Bottom line

Activate your Q4 bonus categories on the Chase Freedom and Chase Freedom Flex for 2022 and start earning 5% back on your Walmart and PayPal purchases today.

In addition to the rotating 5% cash back bonus categories, the Freedom Flex accrues 5% cash back on travel booked through Chase Ultimate Rewards, 3% cash back on drugstores, 3% cash back on dining (including eligible delivery services) and 1% unlimited cash back on all other purchases.