Personal Finance

My Search For The Best Travel Rewards Credit Card

If you don’t carry a big balance, I can’t stress enough the importance of having a rewards credit card. I already wrote a post all about finding the best one for you: “Finally Get Rewarded For Spending: Choosing the Right Rewards Credit Card”, and after finding out my credit score was not as great as it could be, I cried. Then I decided to open a second credit card to help it out a bit. I already had the Visa Signature Rewards card from Bank of America, but I knew I wasn’t getting the rewards I rightly deserved. Since I think points are best used for traveling, here are the results of my search for the best travel rewards credit card:

Chase Sapphire Preferred:

Sign up Bonus: 40,000 Ultimate Rewards Points, worth $500 of travel. If you book through their travel tool, the bonus is worth $625. You just have to spend $3k in the first 3 months.

Earnings: The card gives 2 points per $1 spent on travel and restaurants, and 1 point per $1 spent elsewhere. Additionally, you earn 7% points dividend at the end of the year, and your points are worth 20% more when you book for travel through the Ultimate Rewards travel tool.

Perks:

*No foreign transaction fees

* Access to most carriers – plus you can also use for merchandise, cash and gift cards.

* Access to Chase Ultimate Rewards Mall which earns you an additional 1-20% cash back with preferred vendors

* Amazing travel benefits and insurance

* Trip delay and cancellation insurance: If your covered trip is delayed for more than 12 hours, you will be covered for your expenses (like if you need to eat in a restaurant or sleep in a hotel). If your covered trip is canceled for any reason, you will be provided with a full reimbursement.

* Delayed and lost luggage insurance

Fee: $95 waived the first year

Capital One Venture:

Sign up Bonus: 10,000 Capital One No Hassle Miles Bonus after spending $1,000 in the first 90 days.

Earnings: Every purchase earns 2% in travel rewards.

Perks:

*No foreign transaction fees

*No restrictions on carriers and no blackout dates – can also use points for merchandise, cash or gift certificates

* You can redeem any number of points as a statement credit offsetting any travel expense (so you can book on Orbits or Priceline and they will credit your account)

* Free extended warranty, purchase security, travel insurance, car rental insurance, lost luggage reimbursement

* Travel concierge service and access to advance ticket sales to many events

Fee: $59 waived the first year

I chose the Chase Sapphire preferred due to the insane sign up bonus and the fact that you get even more points and discounts by booking through their Rewards tool. I also spend a lot of money on food and travel, so even though you earn more points with the Venture card, Chase was able to lure me in like a pedophile with candy…who gives reward points… ok that analogy didn’t work. Anyway, the point is – make sure your credit card is working for you too!

 

4 Comments

  1. Pingback: The Easiest Ways To Snag Free Flights - The Frugal ModelThe Frugal Model

  2. Hi there.
    Also I would like to add that the Chase Sapphire Preferred is made of metal or something. It’s not bendable and it’s heavy! However, the regular chase sapphire is just made of bendable plastic like every other card out there.
    I love these kind of posts. I love economics!

    cheers!

  3. Pingback: The Easiest Way to Save Money? Make Your Saving Automatic

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