I remember the decisive factor that led me to choose my first credit card was the new cardmember bonus. The competition in the Credit Card market is becoming more and more intense. In order to attract more customers, banks and companies are offering more benefits.

Cash Back

This is the most common and easiest-to-use benefit that credit card offers. Simply by purchase, cardholders can get cash back or membership points, which can be converted to partner’s points for airline miles or hotel points. Generally speaking, the points are more valuable than cash.

How much cash or points you can redeem depends on the amount you spend. Usually it’s 1%-5% cash back on purchase, and 1-5 points per dollar. Some credit cards treat all purchases equally and provide a certain percentage of cash back. For example, Amex’s Cash Magnet credit card provides 1.5% cash back for all purchases. At present, more and more credit cards provide higher cashback for specific categories of consumption, in order to highlight the characteristics of the card and attract specific consumer groups. For example, Amex’s Blue Cash Preferred credit card offers 6% of supermarket spending, 3% of refueling and department stores, and 1% cashback for other spending, which is suitable for daily consumption.

It is obviously not rational to spend more in order to get more cashback. However, you can use credit cards with high cashbacks rates to enjoy more benefits.

Below are some credit cards with high cash back rates.

Airline/Hotel

Amex Platinum Card (5 points)

Amex Gold Card (3 points)

Chase Sapphire Reserve (3 points)

Chase Sapphire Preferred (2 points)

United Explorer Card (2 points)

Wells Fargo Propel (3%)

Travel and traffic except air tickets/hotels

Chase Sapphire Reserve (3 points)

Chase Sapphire Preferred (2 points)

Wells Fargo Propel (3%)

Dining

Amex Gold Card (4 points)

Chase Sapphire Reserve (3 points)

Chase Sapphire Preferred (2 points)

United Explorer Card (2 points),

Chase Ink Business Cash (2 points),

Wells Fargo Propel (3%)

Supermarket

Amex Gold Card (4 points)

Amex Blue Cash Everyday (3%)

Amex Blue Cash Preferred (6%)

Bank of America Cash Rewards (2%-3.5%)

Gas

Chase Ink Business Cash (2 points)

Amex Blue Cash Everyday (2%)

Amex Blue Cash Preferred (3%)

Bank of America Cash Rewards (3%-5.25%)

Wells Fargo Propel (3%)

Department Store

Amex Blue Cash Everyday (2%)

Amex Blue Cash Preferred (3%)

Phone/Network/Cable bill

Chase Ink Business Cash (5 points)

All Expenditure

Amex Blue Business Plus (2 points)

Barclaycard Arrival Plus (2 points)

Chase Freedom Unlimited (1.5 points)

Chase Ink Business Unlimited (1.5 points)

Bank of America Premium Rewards (1.5%-2.625%)

Bank of America Travel Rewards (1.5%-2.625%)

Citi Double Cash (2%)

Sign-Up Bonus

Sign-up bonus is relatively generous. It is also a great attraction to customers. In addition to giving cash back, bonus can be redeemed with points. Some hotels and airlines’ joint credit cards will provide hotel room coupons or free air tickets as sign-up bonus.

Most sign-up bonus has certain requirements, the most common of which is that the spending reaches a certain amount within 3 months after opening the account. It should be noted that three months after the card is opened is calculated from the day the credit card is approved, not after the card is received.

Credit cards with high sign-up bonus

Chase Ink Business Preferred: 80,000 Chase Ultimate Rewards (CUR)

Amex Business Platinum Card: 75,000 Amex Membership Rewards (MR)

Amex Platinum Card: 60,000 MR

Chase Sapphire Reserve: 50,000 CUR

Chase Sapphire Preferred: 60,000 CUR

Chase Ink Business Cash: 50,000 CUR

Chase Ink Business Unlimited: 50,000 CUR

United Explorer Card: 40,000 United Airlines Miles

Gold Delta Skymiles Card: 60,000 Delta Miles

Platinum Delta Skymiles Card: 75,000 Delta Miles

Delta Reserve Skymiles Card: 75,000 Delta Miles

World of Hyatt: 50,000 Hyatt Room Points

Barclaycard Arrival Plus: 70,000 Barclaycard Points

Amex Hilton Ascend: 125,000 Hilton Honors Points

Reimbursement

Some credit cards have high annual fees. At the same time, they provide a certain amount of reimbursement, which greatly reduces the cost of having cards. The equivalent annual fee of a credit card is the amount of the annual fee minus the reimbursement.

Amex Platinum Card: reimbursement includes $200 for Uber, $200 for airline, and $100 for Saks. Annual fee is $550, counting the reimbursement, the equivalent annual fee is $50.

Amex Gold Card: reimbursement includes $100 for airline, and $120 for dining. Annual fee is $250, counting the reimbursement, the equivalent annual fee is $30.

Amex Hilton Aspire: reimbursement includes $250 for airline, and $250 for Hilton Resort. Annual fee is $450, counting the reimbursement, the equivalent annual fee is $50.

Amex SPG Luxury Card: reimbursement includes $300 for Marriott/Starwood spending. Annual fee is $450, counting the reimbursement, the equivalent annual fee is $150.

Chase Sapphire Reserve: reimbursement includes $300 for travel and traffic, such as air ticket, hotels, car rentals, bus and subways. Annual fee is $450, counting the reimbursement, the equivalent annual fee is $150.

Bank of America Premium Rewards: reimbursement includes $100 for airline. Annual fee is $95, counting the reimbursement, the bank owes you $5.

Secondary Card Benefits

Most credit cards can open a secondary card, sharing the quota with the main card and enjoying some or all of the benefits of the main card. The holder of the primary card enjoys the cashback or points obtained from the consumption of the secondary card, and also has the responsibility to repay the secondary card. Opening a secondary card for relatives and friends will not only allow them to enjoy a series of credit card benefits, but also help them to accumulate credit records.

Travel Benefits

The most common travel benefits are free room coupons and hotel membership.

World of Hyatt: $95 annual fee, one free room coupon per year.

IHG Rewards Club: $89 annual fee, one free room coupon per year.

Marriott Bonvoy Boundless: $95 annual fee, one free room coupon for Marriot/Starwood per year.

Starwood Preferred Guest: $95 annual fee, one free room coupon for Marriot/Starwood per year.

Amex Platinum Card: Hilton/Marriot/Starwood Gold member, Avis/Hertz/National membership.

Amex Hilton Aspire/Ascend:Hilton Diamond/ Gold Member

Chase Sapphire Reserve: Avis/Silvercar/National Membership

Travel Insurance

There will always be accidents and surprises during the trip. Travel insurance can reduce accidental losses to a certain extent. Credit card travel insurance, regardless of type or amount, varies from card to card. It is recommended to read the credit card benefits details carefully. If you want to use credit card travel insurance, you must use your credit card to pay for your travel expenses. Family members traveling together will also be protected by credit card travel insurance.

Those insurances include trip delay reimbursement, trip cancellation insurance, baggage delay insurance, lost luggage reimbursement, roadside assistance, travel and emergency assistance and travel accident insurance.

Leave a Reply

Your email address will not be published.