How to Get the Most Value from Top Travel Credit Cards and Memberships
Scrolling through travel blogs and Instagram travel influencer posts can make it seem as if you should be able to travel anywhere and everywhere for practically free if you play the credit card points game right. You’ve probably seen the posts that go something like: “We booked $40k worth of first class flights on XYZ airline for $8*! Follow us to learn how!” Then, you discover in the fine print that they cashed in hundreds of thousands of points for the tickets, making it unrealistic for most people to do the same given what it would take to accumulate that many points.
At Petit Passeport, we take financial decisions and credit scores seriously and would never recommend people sign up for credit cards just to get sign-up bonuses.
That said, for some travelers, having one or a few credit cards that provide rewards aligned with your lifestyle preferences, spending habits, and financial situation can offer great benefits.
When considering getting a credit card for rewards, it is important to evaluate several key decision factors, for example:
· Your credit score
How many other credit cards you currently have and have opened in the past 2 years
What other types / brands of reward-earning cards you currently have and whether you are looking for a new card to supplement or replace current cards
The spending requirements and timeframe to earn the sign-up bonus
The annual fee relative to the annual benefits that you will most likely use
Your credit card payment habits and, if you do not pay off in full each month, the APR
The estimated dollar-per-point value of the card
The flexibility and value-add of the rewards you can redeem with the card
Your typical spending habits relative to the points earned across different spend categories
For business owners: whether it makes more sense to get the personal or business card
Below is our round-up of cards that are well-reviewed by the experts — most of which we can speak to personally as cardmembers — and how to get the best value from the benefits they offer.
Image courtesy of American Express
The American Express Platinum Card is widely considered by experts to be the holy grail of premium travel rewards credit cards (NerdWallet rating: 5/5).
The current limited-time sign-up referral bonus of 100,000, 125,000 or 150,000 bonus points (depending on what you see offered by Amex when you click the link), if you are approved and meet the $6,000 eligible spend requirement in the first 6 months of card membership, can go a long way — 125,000 points translates to an approximate value of $2,500 at an estimated point value of $0.02/point according to The Points Guy.
Note: The sign-up bonus is typically 100,000 — to see if you qualify for the high points 125,000 or 150,000 sign-up referral bonus, learn more and apply via this referral link.
What the 100k points offer looks like…
What the high points offer looks like…
The $695 American Express Platinum Card annual fee is steep but gets you complimentary access to a host of premium benefits:
Access to the American Express Global Lounge Collection
American Express Fine Hotels and Resorts Program benefits - daily breakfast credit, property credits, early check-in, late check-out, and 1 category room upgrade
$240 in annual digital entertainment credits
$200 in annual Uber / Uber Eats Cash
$200 in annual travel credits
$200 annual Airline Fee credit
$189 in annual CLEAR credit
Annual TSA / Global Entry fee credit
$155 annual Walmart+ credit
$100 in annual Saks Fifth Avenue credit
International Airline Program benefits - preferred fares on premium cabin travel
Several travel and purchase insurance benefits
Limited-time statement credit offers with partner brands (enrollment required)
And more…
After the big sign-up bonus, you get the biggest rewards return on your spending by booking hotels through Amex Travel (5x points) and taking advantage of special, limited-time membership offers that come with big point bonuses for specific types of spending. You can also earn significant bonuses by referring new cardmembers who sign up (including your spouse). Most other spending is 1:1.
For more information, visit the official American Express Platinum Card site.
Image courtesy of J.P. Morgan Chase
The Chase Sapphire Reserve Credit Card is another industry expert favorite in the premium travel rewards credit card category (NerdWallet rating: 5/5, of $0.02/point according to The Points Guy). It offers much of the same rewards redemption flexibility as the American Express Platinum Card with a slightly lower annual fee ($550). And although the Chase Sapphire Reserve Credit Card sign-up bonus amount is a comparatively lower 60,000 points (after you spend $4,000 on eligible purchases in the first 3 months from account opening), you get 50% more redemption value when you redeem points for travel through Chase Ultimate Rewards. For example, 60,000 points are worth $900 toward travel.
The card also comes with the following valuable benefits:
$300 annual travel credit (arguably the best benefit of this card)
Global Entry or TSA PreCheck® or NEXUS Fee Credit (one statement credit every 4 years)
Complimentary Airport Lounge Access with Priority Pass Select membership
Access to The Luxury Hotel & Resort Collection
Complimentary DoorDash DashPass subscription
$120 annual statement credit for GoPuff purchases
And more…
The Chase Sapphire Reserve Credit Card also has strong and flexible rewards earning power beyond the signup bonus, for example:
Earn 5x total points on flights when you purchase travel through Chase Ultimate Rewards
Earn 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards
Earn 3x points on other travel worldwide
Earn 10x total points on Chase Dining purchases with Ultimate Rewards
Earn 3x points on other dining at restaurants, including eligible delivery services, takeout and dining out
Earn bonus points on everyday spending using Shop Through Chase (this is one of the best ways we found to multiply our rewards earnings on this card)
Note: Since this is a Chase card, it is subject to the Chase 5/24 rule.
For more information, visit the official Chase Sapphire Reserve Credit Card site.
Or, if you’re looking for a travel rewards credit card with similar redemption flexibility and benefits with a lower annual fee, it might be worth checking out the Chase Sapphire Preferred Credit Card which we don’t have, but is also typically well-reviewed (NerdWallet rating: 5/5) and comes with the same sign-up bonus as the Chase Sapphire Reserve Credit Card.
Image courtesy of J.P. Morgan Chase
If you frequently fly Southwest, getting a Southwest Rapid Rewards Credit Card can be one of the best ways to earn what is widely considered one of the most valuable travel perks out there: a Companion Pass (achieved with 125,000 qualifying points or 100 flight segments per calendar year). However, if you don’t regularly fly Southwest, choosing a general travel credit card may be a better fit.
We have the Southwest Rapid Rewards Priority Credit Card ($149 annual fee) which comes with 7,500 anniversary points, 4 upgraded boardings per year (worth $30+ per person per flight segment), a $75 annual Southwest travel credit (applicable to airfare), and more.
Through July 11, 2022, the sign-up bonus for all three Rapid Rewards Credit Cards is 75,000 points (approximate value of $1,050 in flights at estimated value of $0.014/point according to NerdWallet) if you are approved and meet the $5,000 eligible spend requirement in the first 3 months of card membership. Annual fees range from $69-149.
After earning the sign-up bonus, the biggest rewards return on spending comes from Southwest purchases (3x points), and the following spending categories which will get you 2x points: Rapid Rewards hotel and car rental partners, local transit and commuting, including rideshare, internet, cable, phone services, and select streaming. You can also earn significant bonuses by referring new cardmembers who sign up (including your spouse). All other spending is typically 1:1.
Companion Pass Timing: If you are opening this card in hopes of getting a Companion Pass, it is important to note that the award-earning period resets each calendar year. It is typically most advantageous to open this card at the beginning of a calendar year — not only does that give you more time to accumulate the activity required to get the pass, but you can also use the Companion Pass for more of the calendar year once earned, in addition to the following full calendar year. Learn more here.
Note: Since this is a Chase card, it is subject to the Chase 5/24 rule.
For more information, visit the official Southwest Rapid Rewards Credit Card site.
Image courtesy of FoundersCard
If you’re an entrepreneur, innovator or business owner (including content creators), it might be worthwhile to look into a FoundersCard membership (click this link for a referral-only preferred rate) which could save thousands on travel and other expense categories each year.
FoundersCard membership is exclusively available to CEOs by application only, and with an annual fee comparable to a premium credit card, but their travel program is among the best we’ve ever come across and includes luxury hotels, airlines, private jet services, ground transportation (car rentals and car services), loyalty program status upgrades, and a host of other travel, business and lifestyle benefits. FoundersCard hotel bookings typically come with flexible cancellation policies.
Examples: We found a room rate for a Harbour View King Room at the Rosewood Bermuda for as low as $295/night* plus free daily breakfast for 1 in November and December (approximately 50% less than the best available rate), and a Deluxe One-Bedroom Suite at the Mandarin Oriental, Washington D.C. in July for $410/night* (approximately 35% less than the best available rate).
While this isn’t a traditional rewards-earning membership program, you can earn rewards by referring new cardmembers who sign up (including your spouse).
The published annual fee for FoundersCard is $595 with a $95 initiation fee. However, this referral link for a FoundersCard membership gets you a preferred rate on the annual fee and waived initiation fee.
For more information, visit the official FoundersCard membership site.
What strategies have you used to maximize your travel rewards cards? Have a favorite travel rewards credit card or membership card that you don’t see here? Contact us — we’d love to hear from you!
