Which Credit Card Is Best For Travel In 2023?
Which Credit Card Is Best For Travel? A lot of people in the United State unquestionably need a well-deserved vacation, and having a travel credit card is one of the simplest ways to secure a vacation for little to no cost. This is where we recommend the best travel credit card for 2023 that can help. The right credit card can receive you enough travel rewards to make your journey easier, more enjoyable, or even almost free.
So, take a few minutes to look over our question ‘Which Credit Card Is Best For Travel?’ in 2023 and consider which one might get you that vacation you’ve been wanting.
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Which Credit Card Is Best For Travel?
Chase Sapphire Preferred is the best overall travel credit card.
In one sentence, explain why it’s great: Every dollar spent on the Chase Sapphire Preferred reaps valuable Ultimate Rewards points, which can be redeemed for travel as well as other able-to-qualify categories at 1.25 cents per point, or transferred to the program’s airline and hotel partners for possibly even more useful travel redemptions.
This card is appropriate for: Those who have higher-than-average travel and/or dining expenses and want a low-fee card with basic transferable points.
Highlights:
- Earn 3 points for each dollar spent on dining, streaming services, and online groceries.
- For every dollar spent on travel, you will receive two points.
- Earn 1 point for every dollar spent on everything else.
- Points can be redeemed for travel at a rate of 1.25 cents per point thru the Chase Ultimate Rewards travel portal.
- You can also transfer your points to any of Chase’s 14 hotel and airline partners.
- There are no international transaction fees.
- The annual fee is $95.
Bonus for signing up: Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months after opening your account.
What we really like about Chase Sapphire Preferred
It may not appear so, but the Chase Sapphire Preferred is the granddaddy of travel credit cards, having been around for over ten years. With classic travel, streaming services, dining, and internet grocery bonus categories, 5 points for every dollar on Lyft rides through March 2025, and a 60,000-point sign-up bonus, the card should make it easy to rack up points quickly.
When it comes to points, most delivery services will code as “dining” on the Sapphire Preferred as well as earn 3 points for every dollar, like at a restaurant, so you’re covered if you’re ordering at home more frequently these days. Cardholders will also receive a free DashPass subscription for at least one year if they activate it by December 31, 2024.
The Chase Sapphire Preferred’s true strength lies in its redemptions. When redeeming points thru the Chase Ultimate Rewards travel portal, you’ll get 1.25 cents per point, and you can potentially get even more value by transferring points to one of Chase’s 14 travel partners. In fact, the Ultimate Rewards program continues to have some of the best transfer partners, such as United Airlines, Southwest Airlines, and Hyatt Hotels, as well as all Chase partners exchange at a 1-to-1 ratio.
The “Pay Yourself Back” tool from the issuer also means allowing you to reward points on purchases other than travel in a set associated with academics that change on a regular basis. Once you redeem your points in this manner, you will receive the same 1.25 cents for every point as when you book travel.
To top it all off, once international travel resumes, you’ll be able to use the Chase Sapphire Preferred without fear of incurring foreign transaction fees. It even gives basic car rental insurance, so if you are in an accident with your rental car, you will not have to turn to your own auto policy first.
What could be improved?
The Chase Sapphire Preferred is a masterpiece, but it’s getting a little old in some ways. Despite the addition of more bonus categories as well as a higher earning rate on having dinner purchases last year, other credit cards provide bonus points as well as cashback in the same travel classes, and in some situations at higher rates (though normally accompanied by higher yearly fees).
It outperforms our benchmark card in the following areas: Excellent travel protections, travel and dining bonus categories, solid airline as well as hotel partners, and sign-up bonus.
Where our benchmark card excels?
The Citi Double Cash card has no yearly fee, an introductory balance transfer rate, and simple cash back.
Is the Chase Sapphire Preferred right for you?
With travel becoming more popular, having a stash of travel points will come in handy. However, if the Chase Sapphire Preferred is appropriate for you relies on what you spend a large percentage of your money and what you keep hoping to get in return.
The Sapphire Preferred is perfect for those who ’ve spent a considerable amount of money on travel, online groceries, dining, and streaming services due to its bonus categories. Similarly, while you don’t have to be loyal to a specific airline or hotel chain, you do need to travel to take advantage of the card’s benefits and redemption opportunities.
While the card’s fixed-value redemption option provides decent value for your points, the Chase Sapphire Preferred also grants access to some of the best transfer partners available, providing an excellent option to dip your toes in the world of travel points and expand your knowledge of loyalty programs.
If you prefer cash back, a card like Citi Double Cash may be a better option. If you’re looking for more luxurious travel perks, such as airport lounge access, you’ll want to search somewhere else — the premium Chase Sapphire Reserve version of this card is a fantastic option, as is The Platinum Card® from American Express.
However, despite which redemption choice you choose, the 60,000-point sign-up bonus on the Chase Sapphire Preferred is more than enough to book your 1st award trip. Take into account whether the card meets your needs, and remember to pay your balance each month in full to avoid paying high-interest rates.
Read more: Best Time To Travel To Dubai ( 2023)
The bottom line
Because it offers a solid return on travel as well as dining purchases but also earns some of the most valuable travel points available, the Chase Sapphire Preferred Card is an excellent choice for people just getting started with travel rewards.
