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Credit cards with good rewards programs and great sign-up bonuses make it easier than ever to rack up a lot of points and use them to travel in style. These are the best credit card rewards programs and sign-up bonuses that are available now.
Last summer’s launch of the Sapphire Reserve credit card by J.P. Morgan Chase stirred up a frenzy usually reserved for the newest iPhone. Millennials and Gen X-ers jumped into the once-obscure world of credit card rewards and bonuses, drawn by Chase’s introductory offer of 100,000 bonus points if you spent $4,000 in your first three months of card membership.
Now that the big bonus is gone and many of the points likely spent, what’s the next move for someone seeking to boost their stock of credit card points and frequent flyer miles? Here are some of the top credit card sign-up bonuses still available.
But first, a word of warning: Credit cards play a big role in maintaining a healthy credit profile and score. Make sure you’re aware of the impact that opening a new card can have, especially if you’re planning to apply for a mortgage or finance a major purchase anytime soon.
It’s also important to practice financial discipline when targeting credit card rewards — paying your balances off in full each month, making payments on time, and not spending more than you can afford to pay is the best course of action. After all, interest and late charges can cancel out the value you get from your rewards.
SEE ALSO: 8 of the best wallets you can buy for under $30 right now
Chase Sapphire Reserve
Why you'll love it: The Chase Sapphire Reserve Credit Card makes it easy to earn rewards for travel and more with a great sign-up bonus.
Sign-up Bonus: 50,000 points (after spending $4,000 in the first three months)
The huge introductory bonus might have made way for a smaller incentive, but the Chase Sapphire Reserve is still a great card to keep in your wallet. Earning three times Ultimate Rewards points per dollar spent on dining and any travel, and one point per dollar on everything else, the Sapphire Reserve earns points quickly through your everyday spending, and it comes with a slew of perks.
Points are worth 1.5¢ each towards travel booked through Chase, but can also be transferred to a number of frequent flyer and hotel loyalty programs. Benefits include access to airport lounges through the Priority Pass network, trip delay coverage, purchase protection, a Global Entry or TSA PreCheck credit, and car rental primary coverage.
However, while the airport lounge access can be great, most Priority Pass lounges are in international terminals, which isn't helpful when you're flying domestically.
The annual fee is a hefty $450, but that’s offset by a $300 travel credit each year, good for things like taxis, subway fare, parking, tolls, and flights.
There aren’t many downsides to this card. Chase has invested heavily in making the Ultimate Rewards program competitive. Booking flights by transferring points to frequent flyer partners is generally more lucrative — that’s usually how people use points to fly in first and business class — but it can be complicated because you have to decipher award charts, find availability, and work around complicated airline rules.
However, because the Sapphire Reserve allows you to get 1.5¢ for each point, if you use them to book travel through Chase’s online or phone travel agent, there’s a simpler and still-valuable option.
Pros: Solid sign-up bonus, easy to earn points, points work with frequent flier and hotel loyalty programs, good airport benefits
Cons: High annual fee, Priority Pass lounges are typically in international terminals
Chase Sapphire Preferred
Why you'll love it: The Chase Sapphire Preferred Credit Card has a lower annual fee than the Reserve card and it's easy to rack up points.
Sign-up Bonus: 50,000 points (after spending $4,000 in the first three months)
The Reserve’s older sibling, the Sapphire Preferred offers a number of similar features and an identical sign-up bonus for a lower annual fee. The card earns 2 times the Ultimate Rewards points instead of the Reserve’s 3 times the points on dining and travel, and one times the points on everything else.
Points are worth a lower 1.25¢ on travel booked through Chase, but can still be transferred to frequent flyer and hotel loyalty programs. There’s no annual travel credit, but there’s still car rental primary coverage, as well as slightly less-generous trip delay coverage and purchase protection. The annual fee is a more manageable $95, which is waived the first year.
The Sapphire Preferred was the all-around best card for a long time, but the Reserve has changed the landscape. The Preferred earns fewer points on bonus spending categories than the Reserve, and the value of the points on travel booked through Chase is less. The no-hassle travel credit on the Reserve makes the annual fee on that card effectively $150 (accounting for the $300 you get back through the credit), so — depending on your spending habits — it can be worth paying more up front for the Reserve.
Pros: Good sign-up bonus, transferable points, travel perks, lower annual fee than Sapphire Reserve card
Cons: Lower point value, no annual travel credit, no as good as Sapphire Reserve
Chase Freedom Unlimited
Why you'll love it: The Chase Unlimited Freedom Credit Card helps you earn points for normal purchases and get cash back with no annual fee.
Sign-up Bonus: 15,000 points/$150 (after spending $500 in the first three months)
If you already have the Sapphire Reserve and are saving your points for something, the Freedom Unlimited can give your balance a nice boost. While Chase markets the card as “cash back,” it actually earns Ultimate Rewards points that you can redeem for cash (1 point = 1¢).
If you have a premium card like the Sapphire Reserve, you can pool your points from the two cards. The Freedom Unlimited earns 1.5 points per dollar spent, so paired with a Sapphire Reserve, it’s a great card to use for purchases that aren’t made on travel expenses or dining.
Best of all, the card has no annual fee and often has zero percent APR for the first 15 months on purchases and balance transfers.
The Chase Freedom Unlimited is a fantastic all-around card. However, to get the most value when it’s time to spend your points, you need the Sapphire Reserve or Preferred card, too, so you can pool your points. Otherwise, points are only worth 1¢ each no matter how you use them and they can’t be transferred to airline or hotel partners.
Pros: Decent sign-up bonus, earn points on regular purchases, no annual fee, zero percent APR for first 15 months
Cons: One point only equals one cent for cash back
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