PART II: LARGEST CURRENT TRAVEL CREDIT CARD REWARDS POINTS SIGN-UP BONUSES (AS OF JULY 2017) By Andrew Banh PT, DPT, OCS
Andrew Bahn PT, DPT, OCS on a vacation paid for almost entirely by his Chase Sapphire Preferred points
If you haven't read part I, Click here.
I included cards here that I thought stood out because of a reasonably low annual fees relative to their cumulative bonus offers, monetary value of rewards and perks (such as no foreign transaction fees, high earning rates for rewards compared to other cards). I’ll also point out key nuances and disclaimers for each card, such as if travel rewards can only be redeemed with a certain airline and its partners. Given the assumptions above in lieu of responsible management of credit card accounts, you can reap the following rewards with the peace of mind of not creating serious financial repercussions:
Editors note: Chase limits each person to 5 cards per 24 month period. Chase is the only company who has this rule. As a result of this, many like to start with the Chase cards first and move to the others when the 5 card limit has been reached. For more info on this, check this link: "The Chase Gauntlet"
Below is a quick rundown list of rewards sorted by highest-to-lowest rewards. Just click the name of each card, or scroll lower for more details:
$600+ REWARDS TIER QUICK LIST:
Marriott Rewards Premier ($800+)
Chase Sapphire Reserve ($750)
Citi American Airlines AAdvantage Platinum Select World Elite Mastercard ($600)
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Chase Ink Business Preferred
Total Rewards: $1,000 (from 80,000 bonus points at sign-up with 25% travel redemption bonus when redeeming through Chase Ultimate Rewards portal, if you spend at least $5,000 on purchases within first 3 months after account opening)
Annual Fee: $95
Key benefits:
No foreign transaction fees
3X points for every $1 spent on first $150,000 with combined purchases on: travel (airfare, hotel, rental cars, train tickets, taxis), shipping purchases, Internet, cable, phone services, advertising with social media sites and search engines; Unlimited 1X points earned for every $1 spent on all other purchases.
25% travel redemption bonus with redeeming through Chase Ultimate Rewards portal
1:1 Points Transfer with Airline Travel Partners: British Airways Executive Club, Flying Blue AIR FRANCE KLM, Korean Air SKYPASS, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club
1:1 Points Transfer with Hotel Travel Partners: IHG Rewards Club, Marriott Rewards, The Ritz-Carlton Rewards, World of Hyatt
Travel and purchase protection: Trip Cancellation, Trip Interruption, Auto Rental Collision Damage Waiver, Emergency Assistance Services, Purchase Protection, Price Protection, Extended Warranty Protection
Business Owner perks: Employee cards at no additional cost, Cell Phone Protection (Up to $600 per claim in protection, with $100 deductible per claim, against theft, damage for you and your employees listed on monthly cell phone bill when paying with this card).
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Marriott Rewards Premier
Total Rewards: $800+ (from 80,000 bonus points if you spend at least $3,000 within first 3 months after account opening + 1 Free Night Stay at a Category 1-5 Hotel After Account Anniversary Each Year)
Annual Fee: $85
Key benefits:
Get an additional $75 (7,500 bonus points) if you add an authorized user and make a purchase in first 3 months of account opening.
No foreign transaction fees
5X points for every $1 spent at participating Marriott Rewards and SPG hotels; 2X points for every $1 spent on airline tickets purchased directly through airlines, car rental agencies, restaurants; 1X points for every $1 spent on all other purchases. Points don’t expire as long as you make purchases on credit card every 24 months.
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Chase Sapphire Reserve
Total Rewards: $750 (from 50,000 bonus points at sign-up with 50% travel redemption bonus when redeeming through Chase Ultimate Rewards portal, if you spend $4,000 on purchases within first 3 months after account opening) + $300 annual travel credit on anniversary date of account opening + $100 application fee credit for Global Entry or TSA Precheck.
Annual Fee: $450, + $75 for each additional authorized user - more info on why the annual fee is worth it!
Key benefits:
No blackout dates and restrictions
No foreign transaction fees
3X points on travel and dining (without limit?), 50% more points on travel redemptions, 1X points on all other purchases.
Priority Pass Select Lounge Access
Travel and purchase protection: trip cancellation/interruption, auto rental collision waiver, travel accident insurance, emergency evacuation and transportation, lost luggage reimbursement, trip delay reimbursement, baggage delay reimbursement, price protection, purchase protection, return protection, extended warranty protection).
Thoughts and comments: Despite the steep annual fee of $450, this card becomes worthwhile if you are a frequent flyer because of the $300 annual travel credit and 3x points back on travel & dining expenses, so it pays for itself over time. To break even to make up the remaining $150 difference, you would need to spend $XX annually on travel and dining with redemption of rewards to break even.
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Chase Sapphire Preferred
Total Rewards: $625 (from 50,000 bonus points with 25% travel redemption bonus if redeemed through Chase Ultimate Rewards Portal, if you spend at least $4,000 on purchases within first 3 months after account opening)
Annual Fee: $0 first year, then $95 after
Key Benefits:
No foreign transaction fees
2X points for every $1 spent on travel and dining purchases, 1X points for every $1 spent on all other purchases without limit.
25% travel redemption bonus with redeeming through Chase Ultimate Rewards portal
1:1 Points Transfer with Airline Travel Partners: British Airways Executive Club, Flying Blue AIR FRANCE KLM, Korean Air SKYPASS, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club
1:1 Points Transfer with Hotel Travel Partners: IHG Rewards Club, Marriott Rewards, The Ritz-Carlton Rewards, World of Hyatt
Travel and purchase protection: Trip Cancellation, Trip Interruption, Auto Rental Collision Damage Waiver, Emergency Assistance Services, Purchase Protection, Price Protection, Extended Warranty Protection
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Southwest Airlines Rapid Rewards Premier Business
Total Rewards: $600 (from 60,000 bonus points if you spend at least $3,000 on purchases within first 3 months after account opening.)
Annual fee: $99 (charged to your first billing statement)
Key Benefits:
No foreign transaction fees.
No blackout dates or seat restrictions when redeeming points
2X points for every $1 spent on Southwest, Rapid Rewards Hotel and Car Rental Partner purchases; 1X points for every $1 spent on all other purchases. Points don’t expire as long as card account is open with activity every 24 months.
First and second checked bags fly free (within weight and size limits)
No change fees (however, fare differences still apply)
6,000 bonus points ($60) annually on Cardmember anniversary date.
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Citi American Airlines AAdvantage Platinum Select World Elite Mastercard
https://secure.fly.aa.com/citi/direct-plat?anchorLocation=DirectURL&title=citi
Total Possible Initial Rewards: $600 (from 60,000 bonus points if you spend at least $3,000 on purchases within first 3 months after account opening)
Annual fee: $0 first year, then $95 after
Key benefits:
No foreign transaction fees
First checked bag free, plus Priority Boarding on Domestic Flights with American Airlines when using American Airlines AAdvantage account number
2X points for every $1 spent on eligible American Airlines purchase
1X points for every $1 spent on other purchases
Earn 10% of redeemed AAdvantage miles back
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American Express Gold Delta Skymiles
Total Possible Initial Rewards: $600 (from 60,000 bonus points if you spend $3,000 on purchases within first 4 months after account opening) + $50 statement credit if making Delta purchase within first 4 months after account opening. Note: 60,000 bonus points offer expires July 5, 2017; standard offer was 30,000 points previously.
Annual fee: $0 first year, then $95 after
Key benefits:
No foreign transaction fees
First checked bag free on round-trip Delta flights (and for up to eight people in your party traveling on the same reservation).
Priority boarding on Delta flights
Unlimited 2X miles for every $1 spent on Delta purchases; unlimited 1X miles for every $1 spent on all other purchases.
Secondary coverage Car rental loss and damage insurance (does not include liability coverage and is not available for vehicles rented in Australia, Ireland, Israel, Italy, Jamaica, New Zealand).
Extended warranty: Up to 1 year on purchases, limited to $10,000 per item, $50,000 per calendar year, with original U.S. manufacturer warranty of 5 years or less.
Purchase protection: Up to 90 days from date of purchase, limited to $1,000 per occurrence, $50,000 per calendar year.
Return Protection: Up to 90 days from date of purchase, limited to $300 per item, $1,000 per calendar year.
Fraud protection
$500 REWARDS TIER QUICK LIST:
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Barclaycard Arrival Plus World Elite Mastercard
Total Rewards: $500 travel statement credit (from 50,000 bonus points if you spend at least $3,000 on purchases within first 3 months after account opening. Redemptions start at 10,000 points/$100 for $100 or greater on qualified travel expenses on your billing statement.)
Annual fee: $0 first year, then $89 after
Key Benefits:
No foreign transaction fees
2X miles for every $1 spent on all purchases, miles don’t expire as long as account is open and in good standing.
5% miles back redemption bonus
Balance Transfers: 0% introductory APR for 12 months on balance transfers made within 45 days of account opening; after 12 months, variable APR applies. Fee of $5 or 3% of amount of each transfer, whichever greater, also applies. .
Trip accident and cancellation insurance
Complimentary online FICO score
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Capital One Spark Cash
Total Rewards: $500 (from 50,000 cash bonus if you spend at least $4,500 on purchases within first 3 months after account opening.)
Annual fee: $0 first year, then $59 after
Key Benefits:
No foreign transaction fees
No blackout dates, seat restrictions, or minimums to redeem
2% cash back for every $1 spent; earn unlimited rewards that don’t expire, and redeem at anytime.
Fraud coverage and alerts
Auto rental collision damage waiver
Purchase security for eligible items purchased on card if lost or stolen within 90 days after purchase
Extended protection on eligible purchases that doubles length of manufacturer’s warranty.
Travel and emergency assistance services
Business owner perks: Free employee cards that earn rewards from purchases at no additional costs
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Capital One Spark Miles
Total Rewards: $500 (from 50,000 bonus miles if you spend at least $4,500 on purchases within first 3 months after account opening.)
Annual fee: $0 first year, then $59 after
Key Benefits:
No foreign transaction fees
No blackout dates, seat restrictions, or minimums to redeem
2X miles for every $1 spent on business; 1X miles for every $1 spent on all other purchases; earn unlimited miles and rewards that don’t expire and redeem at anytime.
Fraud coverage and alerts
Auto rental collision damage waiver
Purchase security for eligible items purchased on card if lost or stolen within 90 days after purchase
Extended protection on eligible purchases that doubles length of manufacturer’s warranty.
Travel and emergency assistance services
Business owner perks: Free employee cards that earn rewards from purchases at no additional costs
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United MileagePlus Explorer Business
Total Rewards: $500 (from 50,000 bonus miles if you spend at least $3,000 on purchases within first 3 months after account opening.)
Annual fee: $0 first year, then $95 after
Key Benefits:
No foreign transaction fees
No blackout dates or seat restrictions
2X miles for every $1 spent on United, restaurant, gas station, and office supply store purchases; 1X miles for every $1 spent on all other purchases; earn unlimited miles and miles don’t expire as long as account is open
Earn additional 10,000 bonus miles after spending $25,000 on card purchases each calendar year.
Priority boarding on United flights for cardmember and companions.
Free first checked bag each way for cardmember and one companion traveling on same reservation on United flights, when purchased from United with this card.
2 United Club passes each year with account anniversary, good for complimentary beverages, snacks, workspaces, free Wi-Fi with United.
Purchase protection, Auto Rental Collision Damage Waiver
$400 REWARDS TIER QUICK LIST:
Capital One Venture Rewards
Total Rewards: $400 travel statement credit (from 40,000 bonus points if you spend at least $3,000 on purchases within first 3 months after account opening.)
Annual fee: $0 first year, then $59 after
Key Benefits:
No foreign transaction fees
2X miles for every $1 spent on all purchases; earn unlimited miles redeemable for statement credit on travel purchases; miles/rewards don’t expire (as long as account is open and in good standing).
Fraud coverage
Security alerts
Auto rental collision damage waiver on renting eligible vehicles
Emergency card replacement with cash advance
No charge extended warranty on purchases
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Southwest Airlines Rapid Rewards Plus
Total Rewards: $400 (from 40,000 bonus points if you spend $1,000 on purchases within first 3 months after account opening.)
Annual fee: $69 (charged to your first billing statement)
Key Benefits:
No foreign transaction fees.
No blackout dates or seat restrictions when redeeming points
2X points for every $1 spent on Southwest, Rapid Rewards Hotel and Car Rental Partner purchases; 1X points for every $1 spent on all other purchases. Points don’t expire as long as card account is open with activity every 24 months.
First and second checked bags fly free (within weight and size limits)
No change fees (however, fare differences still apply)
3,000 bonus points ($30) annually on Cardmember anniversary date.
NO ANNUAL FEE / $200 REWARDS TIER QUICK LIST:
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BankAmericard Travel Rewards
Total Rewards (online-only deal): $200 travel statement credit (from 20,000 online bonus points if you spend at least $1,000 on purchases within first 3 months after account opening.)
Annual fee: $0
Key Benefits:
No foreign transaction fees
No blackout dates or restrictions
Unlimited 1.5 Points for every $1 spent on all purchases; points don’t expire.
Customers with active Bank of America checking and savings accounts get additional 10% bonus points on purchases.
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Wells Fargo Cash Wise Visa
Total Rewards (online-only deal): $200 cash rewards bonus (if you spend at least $1,000 on purchases within first 3 months after online account opening.)
Annual fee: $0
Key Benefits:
Unlimited 1.5% Cash Rewards earnings on net purchases with no category restrictions; rewards don’t expire while account is open
1.8% Cash Rewards on Android Pay or Apple Pay Mobile Wallet during first 12 months after account opening.
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Capital One VentureOne
Total Rewards: $200 travel statement credit (from 20,000 bonus points if you spend at least $1,000 on purchases within first 3 months after account opening.)
Annual fee: $0
Key Benefits:
No foreign transaction fees
Unlimited 1.25X points for every $1 spent on all purchases. Points don’t expire as long as card account is open with activity every 24 months.
Fraud coverage
Security alerts
Auto rental collision damage waiver on renting eligible vehicles
Emergency card replacement with cash advance
No charge extended warranty on purchases
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Capital One Spark Cash Select
Total Rewards: $200 (if you spend at least $3,000 on purchases within first 3 months after account opening.)
Annual fee: $0
Key Benefits:
1.5% cash back for every $1 spent; earn unlimited rewards that don’t expire and redeem for any amount, at anytime.
Fraud coverage and alerts
Auto rental collision damage waiver
Purchase security for eligible items purchased on card if lost or stolen within 90 days after purchase
Extended protection on eligible purchases that doubles length of manufacturer’s warranty.
Travel and emergency assistance services
Business owner perks: Free employee cards that earn rewards from purchases at no additional costs
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Capital One Spark Miles Select
Total Rewards: $200 (from 20,000 bonus miles if you spend at least $3,000 on purchases within first 3 months after account opening.)
Annual fee: $0
Key Benefits:
No blackout dates, seat restrictions, or minimums to redeem.
No foreign transaction fees
1.5X miles or every $1 spent; earn unlimited miles that don’t expire and redeem for any amount, at anytime.
Fraud coverage and alerts
Auto rental collision damage waiver
Purchase security for eligible items purchased on card if lost or stolen within 90 days after purchase
Extended protection on eligible purchases that doubles length of manufacturer’s warranty.
Travel and emergency assistance services
Business owner perks: Free employee cards that earn rewards from purchases at no additional costs
DON’T FORGET POSSIBLE TAX SAVINGS ON YOUR WORK-RELATED TRAVEL FOR MORE SAVINGS:
Don’t forget that expenses related to travel and professional education for work carry positive tax implications. According to the IRS for 2017, driving and operating an automobile for business purposes carries deductible costs at a rate of 53.5 cents per mile. Even driving for charity purposes carries a rate of 14 cents per mile. See here for more info: https://www.irs.gov/tax-professionals/standard-mileage-rates/
Also, keep in mind that hotel and flight expenses, continuing education courses, and other costs for business purposes may also qualify as tax deductions. Ultimately to avoid leaving money on the table, manage your receipts and track any mileage related to business purposes as you go, then work with a qualified tax professional to verify if you can take advantage of these deductions with your tax return each year.
ADDITIONAL TRAVEL HACKING RESOURCES:
Methodology for using rewards points, reviews, and research on credit cards:
The Points Guy: https://thepointsguy.com/cards/
Nerd Wallet Best Credit Cards of 2017: https://www.nerdwallet.com/the-best-credit-cards?trk=nw_gn_4.0
Credit Karma Card Reviews: https://www.creditkarma.com/reviews/credit-card
Wise Bread: http://www.wisebread.com/topic/personal-finance/credit-cards
Choose FI: http://www.choosefi.com/all-articles/travel-rewards/
Free Personal Finance and Budgeting Resources
Mint
Personal Capital
Free Credit Reports
Creditkarma.com
Annualcreditreport.com
Freecreditreport.com
Disclaimer: The information on this article is not to be construed as financial or tax advice. Neither I, nor Jetset Rehab, are affiliated, have financial conflicts of interest, or earn commission from any of the services or companies featured above.
Andrew Banh, PT, DPT, OCS is an orthopedic physical therapist who also enjoys reading and researching about personal finance, investing, and travel in his spare time. Follow him on LinkedIn, or his motivational and personal development page on Facebook and Instagram, @growthstateofmind.
editors note: We at Jetset Rehab Education hope that you use this information to travel to a course with us in 2018! We have several couses coming up in Mammoth, Cabo San Lucas, Portland, and Las Vegas! Please share, follow and Like etc.