Chase is one of the most popular credit card issuers which includes a wide variety of credit card products for personal and business use. Chase Bank operates under the largest bank in the United States, JPMorgan Chase & Co, and it currently offers more than 25 cards. It is worth having a Chase credit card in your wallet because it may let you earn rewards. You can also benefit from cash rebates, airline miles and free air tickets, free hotel nights, generous sign-up bonuses, and other great perks.
For years, Chase has been used as a synonym for credit cards because it has initiated multiple credit cards with features that fit its broad customer base. Just recently, Chase has released its newest products, the Chase Freedom Unlimited card. It has many features in common with Chase Freedom, but it also offers additional perks that might make it worth adding to your credit card portfolio.
With so many options from Chase, choosing a new credit card can be a difficult task. Luckily, we have done most of the work for you. This guide will compare Chase credit cards and provide you with useful information on its types, approval rules, Chase Ultimate Rewards, and other relevant details. With all this information in your hands, you can choose the right Chase credit card that fits your needs.
Best Overall: Chase Sapphire Preferred Card
If you are looking to add a new Chase credit card to your wallet, then you definitely should consider the Chase Sapphire Preferred Card. Regarded as one of the best travel credit cards on the market the Sapphire Preferred Card is also the best overall credit card from Chase.
You will have a chance to earn 60,000 bonus points after you spend $4,000 in the first three months after opening your account. That’s $750 toward travel when you redeem points through Chase Ultimate Rewards, an online travel booking tool. Here, you can redeem rewards directly or transfer to one of the 11 participating airline and hotel programs, such as JetBlue TrueBlue, The Ritz-Carlton Rewards, United MileagePlus, and many more.
When you use your Chase Sapphire Preferred Card on travel purchases and dining at restaurants worldwide, you earn two points for every dollar you spend. For every dollar you spend on all other purchases, you will gain one point. Additionally, the rewards are worth 25% more when you redeem for airfare, hotels, car rentals, and cruises through Chase Ultimate Rewards. With the Chase Sapphire Preferred Card, you can earn unlimited points, and the points do not expire.
Chase Sapphire Preferred Card Benefits
Chase Sapphire Preferred Card offers flexibility, and that is one of the reasons why it is so popular. You do not have to use the points for travel only, but you can use them to shop on Amazon.com or receive cashback. This card is ideal for cardholders who travel and dine out frequently, as well as spenders who are looking to stretch rewards points on travel redemption. Another perk for world travelers is that there are no foreign transaction fees.
One of the things to consider is a $95 annual fee. But you can offset the annual fee by earning enough points so that the card does not end up costing you money.
The regular APR is 18.24% to 25.24%.
Best for Cashback: Chase Freedom
The Chase Freedom is an ideal cash-rewards credit card for everyday spending. It is suitable for people who are willing to put in a little work to earn some of the highest rewards out there. All you have to do is track spending categories that rotate quarterly and align your purchases to those spending categories.
Each quarter, you can earn 5% cashback rewards on up to $1,500 in combined purchases in bonus categories per quarter. The categories rotate each quarter, and you must activate to receive your rewards. Any other credit card purchase that you make will earn 1% back. For Q3 2019, which runs from July 1 to September 30, cardholders can earn bonus cash at gas stations and on select streaming services. Additionally, you can earn $300 cash rewards each year for maxing out the 5% rewards categories each quarter.
One of the most excellent perks of Chase Freedom is a $150 sign-up bonus. You can earn it after you spend $500 on purchases in the first three months of opening your account.
Chase Freedom offers a 0% intro APR for 15 months from account opening on purchases and balance transfers. After the introductory period, a variable APR of 17.24-25.99% will apply. There is no annual fee.
Best for Flat-Rate Cashback: Chase Freedom Unlimited
The Chase Freedom Unlimited is a new credit card by Chase. You can earn 3% cashback on all purchases in your first year for up to $20,000 spent. Ongoing, you will receive an unlimited 1.5% cashback on all your purchases.
If you are looking for a simple way to earn cashback without worrying about which purchases will get the most of it, then go for Chase Freedom Unlimited. It is just the right card to add to your credit card portfolio in such cases. The rewards provided are credited to you automatically. Along as your account is active, your cashback rewards will not perish, and there is no minimum to redeem it.
You can transfer the cash back you earn with the Freedom Unlimited to another Chase card in the Chase Ultimate Rewards program. Since every cent of cashback is worth one point in the program, you could end up with better rewards value overall.
The Freedom Unlimited also offers a decent balance transfer to new cardholders. You can enjoy a 0% APR on purchases and balance transfers for the first 15 months after opening your account. After the promotional period, the regular 17.24 to 25.9% variable APR applies. This is an excellent offer for people who need to pay down some debt over time without racking up additional interest.
It has no annual fee.
Suggested Reading: Balance Transfer Credit Cards for July 2020
Best Premium Travel: Chase Sapphire Reserve Card
Chase Sapphire Reserve card is a high-end credit card that offers an outstanding sign-up bonus.
Pay $4,000 on shopping in the initial three months of opening your account, and you can benefit from 50,000 bonus points. That amounts to $750 toward airfare, accommodation, car rentals, and cruises when you redeem through Chase Ultimate Rewards. However, you are eligible for the bonus if you have not received a new Cardmember bonus for any Sapphire card in the past 48 months.
In addition to the sign-up bonus, you receive up to $300 in annual statement credits for travel purchases. There are no foreign transaction fees for purchases made outside of the United States, and you can transfer points to leading airline and hotel loyalty programs at a 1:1 ratio.
Chase Sapphire Reserve card will earn more rewards points than any other Chase credit card. You receive three points for every dollar spent on travel and dining purchases. After earning your $300 annual travel credit, you earn one point per dollar on all other purchases. Your rewards are worth 1.5 cents apiece when you redeem through Chase Ultimate Rewards.
If you are a frequent traveler, you will love the Sapphire Reserve’s complimentary membership to Priority Pass Select. You will get access to more than 1,000 VIP airport lounges in over 500 cities worldwide.
There is, though, a $450 annual fee.
Best Overall Airline: Southwest Rapid Rewards Priority Credit Card
The Southwest Rapid Rewards Priority Credit Card is one of the co-branded cards offered by Southwest Airlines and Chase. You can receive 40,000 bonus points after you spend $1,000 on purchases in the first three months your account is open. You are eligible for the card only if you have not received a new Cardmember bonus within the last 24 months.
Southwest Rapid Rewards Priority offers other benefits as well, including 7,500 bonus points on your anniversary of opening the card, four upgraded boardings per year, and a $75 Southwest annual travel credit for future trips.
You can earn two points for every dollar you spend on Southwest flights and bookings through the hotel and car rental partners. You earn one point for every dollar you spend on all other purchases. You can redeem points for flights, hotel stays, or gift cards.
The regular APR for purchases and balance transfers is 18.24 to 25.24 percent. The $149 annual fee will be applied to your first billing statement.
There are no foreign transaction fees, which is a great perk if you often travel internationally.
Best for Balance Transfers: Chase Slate
If you have been looking for a card that will help you pay down your debt, Chase Slate Card is a great option. There is no better card for balance transfers than Chase Slate Card. It’s the best because it offers balance transfers with a 0% introductory fee during the first 60 days of opening your account. You can slowly pay off any debts without accumulating fees over that time. After the initial period, there is a balance transfer fee of 5% for the transferred amount.
Furthermore, it comes with a 0% introductory APR for the first 15 months after you get approved for the card. After that, a 17.24%–25.99% variable APR applies. The 0% introductory fee applies to new purchases and to old balances you transfer to the card.
With Chase Slate and its Credit Journey, consumers have unlimited access to their credit score. You can see your VantageScore 3.0 for free at any time.
Another great benefit is a $0 annual fee.
Best for Small-Business Cashback: Ink Business Unlimited Credit Card
The Chase Ink Business Unlimited is a great credit card for small businesses. What sets this card apart from other cashback cards is its unlimited 1.5% cash back on every purchase made for your business.
Your business can earn a $500 bonus cash back after you spend $3,000 on purchases in the first three months from account opening. It also offers a 0% intro APR on purchases for the first 12 months. After that, the variable APR of 15.49% – 21.49% applies.
Ink Business Unlimited is flexible regarding cashback rewards. You can reclaim your rewards for cash back, gift cards, travel, and more through Chase Ultimate Rewards. Cashback rewards will not expire as long as you keep your account open. Besides, there are no minimums to redeem your rewards points.
With the Ink Business Unlimited, you can monitor and protect your business. You can manage your cash flow, get 24/7 access to account details, and enjoy peace of mind with Fraud Protection, Purchase Protection, and more.
There is no annual fee.
Best for Small-Business Travel: Ink Business Preferred Credit Card
The Chase Ink Business Preferred Card is an excellent business credit card, suitable for businesses with a lot of travel, shipping, and advertising expenses. It is ideal for business owners who are looking for a generous sign-up bonus. As a new cardholder, you can earn 80,000 bonus points after you spend $5,000 on purchases in the first three months after opening an account.
It comes with a $95 annual fee, but covering that charge should not be a problem, given a sign-up bonus that equals $1,000 toward travel rewards when redeemed through Chase Ultimate Rewards.
The lucrative sign-up bonus is just an introduction to premium travel rewards. You will earn three points per $1 on the first $150,000 spent in combined purchases in other select business categories. These categories include travel, shipping purchases, Internet, cable and phone, and advertising purchases. You earn one point for each dollar you spend on purchases outside these categories.
You can transfer your rewards points to travel partners at a 1:1 value. You can also redeem them for airfare, hotels, car rentals, and cruises through Chase Ultimate Rewards at the cost of 1.25 cents per point.
Ink Business Preferred Card offers travel and purchase coverage for your business trip. It includes trip cancelation and trip interruption insurance, car rentals, collision damage waivers, roadside dispatch, and many more.
Another significant benefit is that there are no foreign transaction fees. The regular APR is 18.24 to 23.24%.
Note that there is a $95 annual fee on the Chase Ink Business Preferred Card.
Best for Hotel Purchases: Marriott Bonvoy Boundless Credit Card
The Marriott Bonvoy Boundless Credit Card from Chase is a hotel reward card ideal for travelers who often stay at hotels.
The Marriott Bonvoy Boundless offers ongoing rewards that earn six points per $1 spent at participating Marriott Bonvoy hotels. They also provide two points per $1 spent on all other eligible purchases. It also offers a generous sign-up bonus. You will earn 75,000 bonus points after you spend $3,000 on purchases in the first three months from account opening.
There are numerous perks available to Marriott Bonvoy Boundless cardholders, including lost luggage reimbursement, travel and purchase protection, baggage delay insurance, automatic Silver Elite Status for each account anniversary year, and many more. However, the best feature offered by this card is the Free Night Award every anniversary. Each year after your account anniversary with the Marriott Bonvoy Boundless Credit Card, you will enjoy a free one-night hotel stay at a property with a redemption level up to 35,000 points.
There are no foreign transaction fees, but the card charges an annual fee of $95.
A standard APR of 18.24% to 25.24% variable applies.
If you are wondering if Marriott Bonvoy Boundless Credit Card is worth the annual fee, the answer depends on how much you will spend with the card. Your rewards can make up for the annual fee if you travel a lot.
Types of Chase Credit Cards
Chase offers a credit card for every need including travel cards, business credit cards, cashback credit cards, balance transfer credit cards, no annual fee cards, co-branded cards, and many more. When you compare Chase credit cards, consider fees, interest rates, and perks before you make your decision. Our top picks cover these categories: balance transfer cards, no-annual-fee credit cards, and Ultimate Rewards cards.
Balance Transfer Credit Cards
A balance transfer card is there to assist you in paying off your outstanding credit card debt quicker. If you are being charged a higher rate of interest on an existing balance, you can move the balance from that card to a new one at a 0% interest rate. After the zero period ends, regular interest rates usually apply to any outstanding balances.
Balance transfer credit cards are best for paying down your debt if you plan to do it within the 0% intro APR time frame.
Chase offers three balance transfer credit cards with a 0% intro APR:
- Chase Slate
- Chase Freedom
- Chase Freedom Unlimited
All Chase balance transfer cards offer the same 0% introductory APR for 15 months from account opening. There is no annual fee on any of the three cards. However, if you are looking to save money with a balance transfer, Chase Slate is your best choice among the three cards. It does not come with fancy rewards or a sign-up bonus. It enables you to move credit card balances without being charged a balance transfer fee for the first 60 days of opening your account. After the first 60 days, you will be charged a balance transfer fee: $5 or 5% of the transfer amount, whichever is greater. Chase Freedom and Chase Freedom Unlimited both charge a balance transfer fee right from the start.
If you are eligible for a Chase transfer balance card, the bank will approve the transfer of your existing debt to your new Chase credit card. That should be done within 15 business days.
No-annual-fee Credit Cards
If you are looking for a credit card with no annual fee without sacrificing perks and rewards, Chase is the right choice. There are ten options from which to choose, based on your spending habits and goals.
The most popular no-annual-fee cards from Chase are the Chase Slate, Chase Freedom, and Chase Freedom Unlimited. Business owners who are looking for a Chase business card with no annual fee might be interested in Ink Business Unlimited and Ink Business Cash. Other Chase credit cards with no annual fee are:
Marriott Bonvoy Bold Credit Card
This is one of Chase’s co-branded cards. It is an excellent choice if you frequently travel and stay at Marriott hotels and resorts. You earn 3x points at Marriott Bonvoy hotels and 2x points on other travel purchases. If you qualify for a Silver Elite status, you will receive a 10% bonus points on stays.
United TravelBank Card
United TravelBank Card is a simple United-branded credit card with high-value perks. If you want to save up for an occasional flight or you frequently fly with the United, this card might be the right choice. You can use your TravelBank cash on United tickets purchased directly from the airline during the booking process. The 2% in TravelBank cash you will earn on United tickets is a great benefit. The 1.5% in TravelBank cash you will earn on all purchases is another feature you will like.
Amazon Rewards Visa Signature Card
If you want great cashback on your Amazon and Whole Foods Market purchases, then Amazon Rewards Visa Signature Card is the card you need. In addition to a $70 Amazon.com gift card upon approval, you earn 3% back at Amazon.com and Whole Foods Market. You also receive 2% back at restaurants, gas stations, and drugstores and 1% back on all other purchases. There are no foreign transaction fees.
Disney Visa Card
This card is perfect for Disney and Star Wars lovers who want to receive discounts and earn reward dollars on purchases. You get a $50 welcome bonus after your first purchase with a Disney Visa Card. In addition to earning 1% in Disney Rewards Dollars on all your card purchases, you can also save 10% on select Disney and Star Wars purchases at Disney stores.
AARP Credit Card from Chase
AARP Credit Card from Chase is an excellent choice if you frequently spend on gas and dining. You receive $100 bonus cashback after you spend $500 on purchases in the first three months from account opening. You earn 3% cashback rewards on purchases at restaurants and gas stations. If you would like to support the AARP, consider applying for AARP Credit Card from Chase. This is because Chase Bank will automatically donate $0.10 to the organization each time you use your card at a restaurant.
Ultimate Rewards cards
Chase provides you with a selection of personal and business credit cards you can use to earn Ultimate Rewards points. Credit cards that directly earn Ultimate Rewards points are:
- Chase Sapphire Reserve Card (3x points on travel and dining)
- Chase Sapphire Preferred Card (offers 2 points to use on travel and dining)
- Ink Business Preferred Credit Card (provides 3 points you can use for business expenses)
In addition to credit cards that earn points directly, four cards earn points that you can convert into Chase Ultimate Rewards points. These are the following no-annual-fee cards:
- Chase Freedom (5x points in rotating quarterly categories)
- Chase Freedom Unlimited (1.5x on personal spending)
- Ink Business Unlimited Credit Card (1.5x on business expenses)
- Ink Business Cash Credit Card (5x at office supply stores and internet/cable/phone services; 2x at gas stations and restaurants)
Before applying for a rewards card, you need to consider the pros and cons of each reward category. The first category offers no annual fee and allows cardholders to redeem their rewards at a less attractive redemption rate (one cent per point). The second category comes with hefty yearly fees but makes up for that by giving your Chase Ultimate Rewards more value (25%-50%) and a variety of other perks.
Chase Ultimate Rewards Program
Chase Ultimate Rewards program is a points program offered for most Chase rewards cards. It is unrivaled and one of the most flexible rewards programs on the market. It can be beneficial and worthwhile if you know how to maximize your point value.
As mentioned previously in the text, there are seven Chase-branded rewards credit cards that potentially earn these points. However, Chase cards that have a co-brand partner and other Chase cards do not earn rewards points.
You can redeem Chase Ultimate Rewards points for a variety of rewards. These rewards include:
- Cashback (statement credit or direct deposit into a checking or savings account)
- Gift cards
- Purchases (Amazon and Apple)
Depending on which Chase card you carry, you will earn one point for every dollar spent. Bonus categories bring you double or triple points, as well as up to 5% percent of cashback rewards.
Each Chase Ultimate Rewards point is generally worth one cent. Depending on your card and why you use your points, they can be worth from 1.2 to 1.5 cents. For example, points you earn with Chase Sapphire Preferred Card and Ink Business Preferred Credit Card are worth 25% more through Chase Ultimate Rewards. The value of a point is lower for Amazon purchases (0.8 cents apiece).
When it comes to travel redemptions, there are two ways to redeem your points.
First, you can book travel through Chase. Each point is worth one cent. However, if you have one of three unique Chase cards, your points are worth more. Those unique cards are the ones that earn points directly: the Chase Sapphire Reserve, Chase Sapphire Preferred, or the Ink Business Preferred. With the Chase Sapphire Preferred and the Ink Business Preferred, each point is worth 1.25 cents. With the Chase Sapphire Reserve, each point is worth 1.5 cents, and you can redeem them at a higher value.
Second, you can transfer points at a rate of 1:1 to Chase’s airline and hotel partners. Transfers are available only with the same three unique cards. There are nine airline programs:
- Aer Lingus AerClub
- Air France/KLM Flying Blue
- British Airways Executive Club (Avios)
- Iberia Airlines Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United Airlines MileagePlus
- Virgin Atlantic Flying Club
Learn More About What Airline Loyalty Programs Can Do For You
There are Three Hotel Programs
Chase Ultimate Rewards points do not expire as long as your account is open. However, you will lose unredeemed points if you cancel your card.
How to Earn and Maximize Chase Ultimate Rewards Points
The best way to earn and maximize your Chase Ultimate Rewards points is by applying for the Chase credit card that best fits your needs. But, there are plenty of other ways to rack up your Ultimate Rewards points. Here are some of them.
Earn the Sign-up Bonuses
Chase Ultimate Rewards cards offer sign-up bonuses to new consumers who meet the minimum spending requirement within a designated period. For example, Ink Business Preferred Credit Card offers 80,000 points if you spend $5,000 in the first three months.
You can get a generous point bonus by referring your friends and family to Ultimate Rewards cards. You can earn between 10,000 and 20,000 points for each person who is approved and rack up to 100,000 Ultimate Rewards points per year.
Shop Through the Chase Ultimate Rewards Portal
The shopping portal on the Chase Ultimate Rewards account includes direct links to many major retailers’ websites. Perhaps you are already shopping at many of them right now. Nevertheless, if you use this portal to shop, you can get bonuses on your spending. You get up to five bonus points per $1 spent.
Take Advantage of Limited-Time Promotions
Chase is known for offering special promotions to its consumers. You can take advantage of these time-limited promotions to earn points or to redeem them at a discount.
Buy Gift Cards
You can use your Chase credit card to purchase a gift card. You can use the gift card for non-bonus category spending at many Ultimate Rewards bonus category merchants, such as supply and grocery stores, and gas stations. Purchase different gift cards and receive up to 5% bonus earning on the purchase.
Take Advantage of the Chase Pay App
Chase Pay is a digital payment method called a digital wallet. It allows you to use your smartphone to pay for purchases at checkout. You can take advantage of frequent promotions and earn bonus points for using the Chase Pay App. Sometimes promotions are related to making purchases at selected merchants or making a specific number of purchases within a particular time frame.
Combine Your Chase Ultimate Rewards Cards
When you sign up for multiple rewards cards, you can maximize earnings by rotating cards to earn a maximum number of points on each category of purchase. Combine one of Chase Sapphire cards with Freedom cards. For example, Chase Sapphire Reserve earns three points for every $1 you spend on traveling and dining out. When spending within the Chase Freedom rotating categories, using that card instead will get you five points for every dollar spent.
Pro Tip: How to Save Money: Simple Steps to Overcoming Debt
Applying for Chase Credit Cards
You can obtain a Chase credit card when you apply online at the Chase website. Complete an application by providing needed information:
- Name and address
- Date of birth
- Social Security number
- Your email address and phone number
- Income information
Before you apply for a Chase credit card, you first need to know the necessary application and eligibility rules. You do not want to spend your time on a credit card application, only to get denied because of a low credit score or multiple cards rule.
Credit Score Requirement
Chase credit cards are designed for consumers with good (700+) to excellent (750+) credit scores. It is advised to have a FICO score of 670 or higher to qualify for one.
Chase does not explicitly state the minimum credit score needed when applying for a particular credit card, so there is no fixed rule here. However, some applicants with scores below 650 have reported getting approved for a Chase card. And, since Chase credit cards are not intended for those with bad credit, perhaps you should look elsewhere until you improve your credit score.
Chase 5/24 Rule
Chase has an infamous rule called the 5/24 rule that they use when determining whether to approve or deny applicants for any of their credit cards. According to the 5/24 rule, if you have opened more than five new credit cards in the past 24 months, your application will be denied.
Why is this rule so infamous? Well, it includes any new credit cards you have opened from other banks in the last two years. You do not have to be the primary cardholder to be counted toward your five new cards. If you are the primary cardholder of four credit cards and an authorized user on a fifth credit card, you have reached your five-card limit. Home Equity Lines of Credit also count toward this number.
On the bright side, several of Chase’s co-branded cards seem not to follow this rule. Since there is no published list that partners operate this way, it is best to stay under the limit when applying for any Chase card. Another exception to this restriction is Chase business cards. They will not be counted toward your 5/24 limit because they do not go on your credit report.
It is essential to mention that Chase has not officially published the 5/24 rule, but they use it internally. The name 5/24 rule is a term probably given by consumers based on their card approvals and denials.
Suggested Reading: Best Home Mortgage Lenders of July 2020
The 2/30 Rule states that you can apply for up to two Chase cards within 30 days. Otherwise, you will automatically be denied.
If you are planning to apply for two Chase cards in the same month, you should apply for both at the same time. In this way, they will pull your credit once, and your credit report will show fewer inquiries. Otherwise, Chase might put you in the risky customer category.
Intro Bonus Restrictions
Every 24 months, you can fit in for a new bonus. This means that you cannot earn a sign-up bonus on a Chase card if you have you earned a sign-up bonus on that exact card in the last 24 months. For example, if you received the Chase Freedom Unlimited sign-up bonus in 2013 and applied for the card again in 2017, you would be eligible to receive a new reward. You need to cancel a card before you apply again for one.
This restriction has a few variations that apply to specific cards.
For example, the 48-month rule that only applies to the Chase Sapphire family of cards. You can only receive an intro bonus to a Chase Sapphire card once every 48 months. The rule applies to Chase Sapphire Reserve and Chase Sapphire Preferred cards. You will qualify for the sign-up bonus only if you have not earned a welcome bonus on any version of the Sapphire card in the past four years.
Another variation of the intro bonus rule is called the One Southwest Rule. The rule applies to the Southwest Rapid Rewards Plus Credit Card and the Southwest Rapid Rewards Premier Credit Card. You are not eligible for the intro bonus on one if you currently have the other. Additionally, you will not be able to get the bonus for one if you have earned a bonus for the other within the last 24 months. The Southwest Rapid Rewards Business card is the exception to this rule.
The Number of Chase Cards You Can Hold
There is no boundary for the number of Chase credit cards you can keep. However, there is a maximum amount of total credit the bank will extend to you across all your Chase cards. This amount depends on your credit score, income, debt, and other factors. If you have five Chase cards with $20,000 credit lines each and your total spending limit is $100,000, you will not be approved for another card. Therefore, you will have a limit to how many Chase cards you can get.
What if You Get Denied?
If the bank denies you a Chase credit card, call the reconsideration line to find out why. Chase may reject your credit card application for any of the reasons listed above. They will provide you with the information you ask and give you advice on how to get approved. Sometimes the solution is as easy as lowering the credit limit on one of your existing Chase cards. Other times, you need to improve your credit score.
The Chase reconsideration phone number is 1-888-270-2127.
Which Chase Credit Card Suits You Best?
The Chase cards we have compared or mentioned in this guide are all great choices, but some better match your spending habits and your rewards goals. When choosing the best card for you, here’s what you should consider:
- Cashback rewards vs. travel rewards – Travel rewards credit cards offer a higher rewards rate than a cashback option. You can receive from $0.02 to $0.04 out of each point for a proper redemption. However, if you do not travel enough to get the most out of your points, cashback comes as a better choice.
- If you want travel rewards – Choosing the right credit card depends on how often you travel. If you travel frequently, you might benefit from picking the Chase Sapphire Reserve over the Chase Sapphire Preferred. Its $450 annual fee is worth it thanks to a $300 yearly statement of credits and points that are worth 1.25 each when you redeem for travel. Check above to see the benefits of the Chase Sapphire Reserve.
- If you want cashback rewards – Some people prefer rotating bonuses over a flat rate. Which one do you prefer? If you’re going to spread your earning potential over a variety of different spending categories throughout the year, you should choose the Chase Freedom over the Chase Freedom Unlimited.
Do you own a Chase Credit card? Which one is your preferred choice?