Last Call to Get 5% Back on Groceries for a Year With These Chase Cards

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For many of us, spending on groceries, takeout, and delivery skyrocketed this year. Thanks to a limited-time offer on two of Chase's most popular rewards credit cards, you could easily save hundreds -- possibly even thousands -- simply by putting those expenses on the right credit card next year.

The Chase Freedom Unlimited® and the Chase Freedom Flex℠ currently share the best cash back offer on groceries, but it's set to expire soon. Here's how to take advantage of it.

What you need to know about the 5% back offer

Both the Chase Freedom Unlimited® and the Chase Freedom Flex℠, two of the best cash back credit cards on the market, currently offer the same 5% back at grocery stores (excluding Walmart and Target) on up to $12,000 in your first year. Chase has confirmed that this offer expires on Jan. 13, 2021, so as long as you open one of these credit cards by then, you'll get a full year of elevated cash back at supermarkets.

This is easily the best credit card offer available for people who spend big at grocery stores. It can get you $600 in cash back rewards on this one spending category alone if you max this offer out by spending $1,000 per month on groceries. Even if you only spend half that, it's an excellent offer. 

The only credit cards that come anywhere near this cash back rate on groceries charge an annual fee of $95 or more. Both of these credit cards have a $0 annual fee, and the rewards and benefits don't stop at grocery stores.

Rewards and benefits offered by both cards

The list of cash back categories on the Chase Freedom Unlimited® and the Chase Freedom Flex℠ cards is long, and they even come with useful benefits you typically only get from cards with annual fees. Here's a comparison of what you get with both cards.

Some of the highlights on these cards include the $200 cash welcome bonus -- which is pretty easy to obtain with a $500 minimum spending requirement -- and the elevated cash back rates at drugstores and restaurants (including eligible delivery services). If you're looking to finance a major purchase, the 0% intro APR for the first 15 months is also a handy perk, although you want to be sure you can pay off your balance in full before that introductory period ends.

When it comes to choosing between the two credit cards, the main difference is that the Chase Freedom Unlimited® gets an unlimited 1.5% back on all purchases, while the Chase Freedom Flex℠ gets 5% back on up to $1,500 in quarterly spending on rotating bonus categories (and 1% back on all other purchases). The bonus category for the first quarter of 2021 includes select streaming services, plus wholesale clubs, internet, cable, and phone services.

If you max out the rotating bonus categories each quarter, that's $300 per year -- you'd have to spend $20,000 per year on the Chase Freedom Unlimited® outside of the bonus categories to earn that much. That said, some people prefer flat-rate cards like the Chase Freedom Unlimited® because they don't have to worry about activating quarterly bonus categories and spending enough within them.

How to make sure you qualify for these cards

While the Chase Freedom Unlimited® and Chase Freedom Flex℠ aren't the most exclusive credit cards, you should have good credit (a FICO® Score of at least 670) for the best shot at approval.

You'll also want to read up on Chase's 5/24 rule and make sure you meet that requirement. If you've opened five or more credit cards in the past 24 months (with any credit card issuers), Chase will deny your credit card application.

If you meet the requirements and think you could benefit from the rewards on either of these credit cards, now is the time to apply. Act fast, and you could save hundreds on groceries in 2021.