When it comes to rewards, the more places you can use them, the better.
That’s part of why cash back is — by far — the most popular form of credit card rewards in America. You can get the cash back as a statement credit that can pay down your most recent bill or, in many cases, you can just get the bank to write you a check for the amount you’ve earned. You can then take that cash back, put in the bank and spend it pretty much anywhere you want to.
But flexibility isn’t just for cash-back rewards anymore. More and more miles and points cards are expanding how and where their rewards points can be used — and that’s a great thing for consumers.
[See: U.S. News Ranks the Best Credit Cards.]
Of course, if you regularly carry a balance, it probably doesn’t make sense to chase credit card rewards. High interest rates and fees mean that the math simply doesn’t work in your favor. However, if you pay your balances off each and every month, you can make these cards work for you in a major way.
Here are some of the most flexible miles and points rewards credit cards on the market and ideas on how you can take advantage of what they have to offer.
[See: 11 Ways to Save Time and Money.]
Chase Sapphire Preferred
This card is a favorite among rewards junkies for many reasons — not the least of which is the 50,000 point sign-up bonus you get after spending $4,000 in the first three months. However, what makes this card really stand out is the wide variety of options you have for using those points.
You can transfer those points to the following hotel or airline loyalty programs on a 1-to-1 basis:
— Southwest Airlines Rapid Rewards
— United MileagePlus
— British Airways Executive Club
— Korean Air SKYPASS
— Singapore Airlines KrisFlyer
— Virgin Atlantic Flying Club
— Hyatt Gold Passport
— IHG Rewards Club
— Marriott Rewards
— The Ritz-Carlton Rewards
What does that mean? It means that, for example, you can turn that 50,000 Chase point bonus into 50,000 Southwest Airlines Rapid Rewards points. Depending on how and when you use it, that should be enough miles to get yourself a free ticket.
But don’t stop there. You could also get a Southwest Airlines credit card and stockpile even more miles. For example, the Southwest Airlines Rapid Rewards Premier Credit Card is offering 25,000 points after you spend just $1,000 in purchases in three months.
Add it all up and you’ve just snagged 75,000 Southwest Airlines Rapid Rewards points without spending a moment in a plane. And Southwest is just one example. You can do the same with United, British Airways and all the other listed partners. That’s the flexibility that makes Chase Sapphire so popular with travelers.
Other key details about the Chase Sapphire Preferred card: The $95 annual fee is waived for the first year; the card’s APR can range from 16.24 percent to 23.24 percent, both of which are higher than the national average of 15 percent for new card offers; it features no foreign transaction fees; and it is smart-chip enabled.
Starwood Preferred Guest Credit Card from American Express
Much like the Chase Sapphire Preferred card, this card is all about giving you transfer options.
Here are some of the airline partners to whom you can transfer Starpoints on a 1-to-1 basis:
— Aeromexico Club Premier
— Aeroplan/Air Canada
— Air Berlin
— Air China Companion
— Alaska Airlines Mileage Plan
— Alitalia MileMiglia
— American Airlines AAdvantage
— Delta Air Lines SkyMiles
— Emirates Skywards
— Etihad Airways
— Hawaiian Airlines
— Japan Airlines Mileage Bank
— Korean Air
— Singapore Airlines KrisFlyerThai Airways International Royal Orchid Plus
— Virgin Atlantic Flying Club
Starwood partners with some other airlines as well, but the transfer rate may not be 1 to 1, so be sure to check. (For example, you can transfer Starpoints to United Mileage Plus on a 2-to-1 basis, meaning that 50,000 Starpoints would become 25,000 United Mileage Plus miles. That’s a less-than-ideal situation.)
Still, if you were to combine the Starwood card’s 25,000 point bonus with, say, the Citi AAdvantage Platinum Select MasterCard’s 30,000 mile bonus, you’d end up with 55,000 American Airlines AAdvantage miles. That can take you a long way.
Other key details about the Starwood card: The $95 annual fee is waived for the first year; the card’s APR can range from 15.49 percent to 19.49 percent; it features no foreign transaction fees; it is smart-chip enabled and it comes with free Wi-Fi access at more than 1 million Boingo hot spots worldwide.
[See: 12 Frugal Ways to Save on Vacation.]
The Amex EveryDay Preferred Credit Card from American Express
Yes, this is another American Express card, but the two cards’ rewards work completely differently. That’s because while the Starwood card is all about the hotel chain’s Starpoints, the EveryDay card is a part of AmEx’s Membership Rewards program.
You can transfer Membership Rewards to the following airline and hotel loyalty programs on a 1-to-1 basis:
— Aeromexico Club Premier
— Aeroplan/Air Canada
— Air France/KLM
— Alitalia MileMiglia
— All Nippon Airways
— Delta Air Lines SkyMiles
— Emirates Skywards
— Hawaiian Airlines
— Singapore Airlines KrisFlyer
— Virgin Atlantic Flying Club
— Choice Privileges (for Choice Hotels, including Comfort Inn, Quality and Clarion)
The EveryDay Preferred card comes with a smaller sign-up bonus than the Chase Sapphire or Starwood cards — 15,000 Membership Rewards points after $1,000 in purchases in 3 months — but the card’s flexibility makes it more valuable. For example, combine those 15,000 points with the 35,000 points from the Hawaiian Airlines World Elite MasterCard’s sign-up bonus and suddenly, you’ve got 50,000 miles to put toward that dream trip to Maui.
Other key details about the AmEx EveryDay Preferred Credit Card from American Express: The $95 annual fee is not waived for the first year and the card’s APR can range from 13.24 percent to 22.24 percent. Also, if you make 30 or more purchases in a billing period, you get 50 percent extra points on those purchases.
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3 Super-Flexible Credit Cards That Rewards Junkies Love originally appeared on usnews.com
