Maximizing Travel Expenses: Top 8 Credit Cards for Earning Points and Miles
While many travelers aim to use points and miles for all their trips, sometimes we have no choice but to pay cash for certain travel expenses. In such cases, it’s essential to ensure that we are using the right credit card to maximize our rewards and potentially offset costs. This article presents the best credit cards for various types of travel spending, including flights, hotels, car rentals, cruises, tours, ride-hailing services, and bookings through third-party travel websites.
Chase Sapphire Reserve
The Chase Sapphire Reserve is a powerhouse for travel purchases. It offers a generous sign-up bonus of 60,000 points after spending $4,000 in the first three months. With a $550 annual fee, the card provides a $300 travel credit that can be utilized for various expenses, effectively reducing the net annual fee.
Cardholders earn 3 points per dollar spent on travel (excluding the $300 travel credit) and dining at restaurants. All other purchases earn 1 point per dollar. The travel category is broadly defined, encompassing airlines, hotels, online travel agencies, trains, buses, taxis, and cruises. Points can be redeemed at a 1.5 cents per point value through the Ultimate Rewards travel portal or transferred to 11 airline and 3 hotel partners.
American Express® Green Card
The American Express Green Card offers a compelling option for mid-tier travelers. The welcome bonus of 60,000 Membership Rewards points is earned after spending $3,000 within the first six months. Additionally, cardholders receive 20% back on eligible travel and transit purchases in the first six months, up to $200 in the form of a statement credit.
The card provides 3 points per dollar spent on worldwide travel, transit, and restaurants, with 1 point per dollar on all other purchases. Unique benefits include an up to $189 Clear Plus membership credit and an up to $100 LoungeBuddy credit.
Citi Premier® Card
Citi Premier Card offers an attractive sign-up bonus of 60,000 ThankYou Points after spending $4,000 within the first three months. For a limited time, cardholders earn 10 points per dollar on hotels, car rentals, and attractions (excluding air travel) booked through the Citi Travel Portal until June 30, 2024. Additionally, they earn 3 points per dollar spent on air travel, hotels, gas stations, restaurants, and supermarkets, and 1 point on all other purchases.
The card’s $95 annual fee provides access to solid 3 points per dollar spent categories, making it a valuable addition to any traveler’s wallet.
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred Card is a more affordable alternative to the Chase Sapphire Reserve, offering a welcome bonus of 60,000 points after spending $4,000 in the first three months. With a modest $95 annual fee, this card earns 5 points per dollar on travel booked through the Ultimate Rewards Travel portal, 3 points per dollar on dining, select streaming services, and online groceries (excluding Target, Walmart, and wholesale clubs), and 1 point on all other purchases.
Bank of America® Premium Rewards® Credit Card
Bank of America’s Premium Rewards Credit Card presents a straightforward approach to earning points. Cardholders receive 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. The sign-up bonus of 60,000 points is earned after spending $4,000 in the first 90 days.
While there are no transfer partners, the card allows points to be redeemed for statement credits, bank deposits, gift cards, or travel booked directly at a rate of 1 cent per point.
The Platinum Card® from American Express
Although The Platinum Card from American Express doesn’t offer travel as a bonus category, it provides excellent value for airfare and hotel spending. The card offers 5 points per dollar on airfare purchased directly with airlines or booked with American Express Travel (up to $500,000 of purchases per calendar year) and 5 points per dollar on prepaid hotels booked with American Express Travel.
The card’s welcome bonus is 80,000 Membership Rewards points after spending $6,000 in the first six months. With a $695 annual fee, this card is suited for those who frequently spend on airfare and hotels.
Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card keeps things simple, offering 2 miles per dollar spent on all purchases, including general travel expenses. The welcome bonus is 75,000 miles after spending $4,000 in the first three months. Miles can be redeemed for a fixed value or transferred to airline and hotel partners at a 1:1 ratio.
Capital One Venture X Rewards Credit Card
The premium Capital One Venture X Rewards Credit Card comes with a higher annual fee of $395. However, it provides impressive perks such as an up to $300 annual travel credit for travel booked through Capital One Travel, an up to $100 Global Entry or TSA PreCheck credit, and 10,000 bonus miles on each anniversary.
Cardholders earn 10 miles per dollar on hotels and rental cars booked through Capital One Travel, 5 miles per dollar on flights booked through Capital One Travel, and 2 miles per dollar on all other purchases.
Selecting the right credit card for travel purchases can significantly impact the value of rewards earned and potential cost offsets. These top 8 credit cards offer varying benefits, catering to different travel preferences and spending habits. Whether you prioritize earning points and miles or maximizing travel credits, there’s a card on this list to suit your needs.
