Which Travel Rewards Credit Cards to Look at Right Now (October 2020)

After getting requests in the Facebook Group, I’ve begun putting together a monthly list of what I think are the best credit card offers available right now. 

If you’re brand new to miles and points, make sure you understand Chase’s 5/24 rule and the first cards to get because of it. 

You can learn more about the fundamentals in my free miles and points basics course, as well. 

As always when applying for credit cards, think of your travel goals. Look not only at the card’s welcome bonus but also the bonus categories. Do they match up with your spending habits?

And, are there other credit card perks that come with the card, like lounge membership or hotel status that make sense for what you’re looking for in a travel rewards credit card?

Finally, know how you’re going to meet the minimum spend to earn the welcome offer. Travel rewards credit cards can add a ton of longterm value to your wallet but, initially, there’s no denying how lucrative a welcome bonus can be, particularly when the offer is increased or notable in some way.

Which Travel Rewards Credit Cards to
Look At Right Now (October 2020)

American Express Gold Card

Current Welcome Bonus: 60,000 points after spending $4,000 in the first 6 months from your account opening

Favorite Card Features: 

• 4x on restaurants worldwide and U.S. supermarkets
• 3x on flights booked with an airline directly or through Amex Travel
• $120 statement credits ($10 per month) for select food delivery services and merchants like Boxed
• No foreign exchange fees
• Transfer Membership Rewards points to airline and hotel partners like Delta, Eithad, and Aeroplan.

Annual Fee: $250

Reasons to Consider it:

This is one of the best ever offers on the American Express Gold card, especially given the generous 6-month time-frame to satisfy the minimum spend requirement. It will add to your 5/24 count.

The card earns flexible Membership Rewards points that can be transferred to a variety of Amex airline and hotel transfer partners. These partners include airlines like Aeroplan, ANA, Delta, British Airways, Flying Blue, Virgin Atlantic, and more.

American Express also offers periodic bonus transfers upwards of 40% for specific airline partners, further increasing the value of points earned with this card. Additionally, American Express cards come with Amex Offers, which allow you to add promotions and deals to your card for extra statement credits and/or bonus points.

The American Express Gold card is arguably one of the best travel rewards credit cards available given the fantastic bonus categories, the high-value of Amex Membership Rewards points, and the strong line-up of available airline transfer partners.

Chase Sapphire Preferred

Current Welcome Bonus: 80,000 points after spending $4,000 in the first 3 months from your account opening

Favorite Card Features: 

• 2x on travel and dining
• No foreign exchange fees
• Transfer Ultimate Rewards points to airline and hotel partners like United, Flying Blue, and Hyatt
• 1.25 cents per point value if you redeem points for travel in the Chase Ultimate Rewards Portal

Annual Fee: $95

Reasons to Consider it:

This is the highest welcome bonus ever offered on the Sapphire Preferred and it should be one of the first cards anyone new to miles and points considers adding to their wallet. It’s subject to the 5/24 rule and will add to your overall card count.

But, Chase Ultimate Rewards points are a flexible currency that can be transferred at a 1:1 ratio to airline and hotel transfer partners for high-value redemptions. In addition, when you pay for a car rental with the Sapphire Preferred, you get primary collision damage waiver coverage.

Sapphire Preferred is arguably one of the best travel rewards credit cards out there and a perfect starter travel rewards card with a knock-out offer!

Chase Freedom Flex

Current Welcome Bonus: $200 after spending $500 in the first 3 months after opening your account, plus earn 5% on grocery spending up to $12k in the first year as a cardholder

Favorite Card Features: 

• 5% on rotating bonus categories up to $1,500 each quarter
• 5% on travel booked through the Chase Travel Portal
• 3% on drug store purchases and dining (including delivery and takeout)
• 1% on all other purchases
• Paired with a Sapphire Preferred, Sapphire Reserve, or Ink Preferred, cashback rewards points can be combined to become transferrable Ultimate Rewards points

Annual Fee: $0

Reasons to Consider it:

The Freedom Flex is a brand new card with a powerhouse debut offer! The Freedom Flex replaces the original Freedom card with new bonus categories and sporting the Mastercard logo instead of the Visa logo.

The welcome offer includes earning 5% on grocery spend (excluding Walmart & Target), which when maxed out earns no fewer than 60k Ultimate Rewards points! The Freedom Flex keeps the 5% on rotating bonus categories allowing for a near double stack during a quarterly grocery bonus category.

Freedom Flex has new bonus categories, too! You’ll earn 3% on dining and drug stores, as well as 5% on travel booked through the Chase Ultimate Rewards portal. I love the drug store bonus category because its pretty unique among travel rewards cards.

The Ultimate Rewards earned with the Freedom Flex can be redeemed as cashback or at a fixed 1 cent per point value in the Chase Ultimate Rewards portal. On their own, these Ultimate Rewards points don’t have access to Chase’s airline and hotel transfer partners. 

But, if you have a Sapphire Preferred or Reserve or the Ink Preferred, you can combine your Freedom Flex rewards points with your Ultimate Rewards balance for a better redemption value (>1 cpp) and the ability to transfer to partners.

Chase Freedom Unlimited

Current Welcome Bonus: $200 after spending $500 in the first 3 months after opening your account, plus earn 5% on grocery spending up to $12k in the first year as a cardholder

Favorite Card Features: 

• 5% on travel booked through the Chase Travel Portal
• 3% on drug store purchases and dining (including takeout and delivery)
• 1.5% on all other purchases, with no spending cap or time limit
• Paired with a Sapphire Preferred, Sapphire Reserve, or Ink Preferred, cashback rewards points can be combined to become transferrable Ultimate Rewards points

Annual Fee: $0

Reasons to Consider it:

This is the best ever offer for the Freedom Unlimited, particularly because of the 5% on grocery spend (excluding Walmart & Target). The 1.5% earn rate for everyday purchases also makes this a great card to have in your wallet for non-bonus spending.

Freedom Unlimited has new bonus categories, too! You’ll earn 3% on dining and drug stores, as well as 5% on travel booked through the Chase Ultimate Rewards portal.

The Ultimate Rewards earned with the Freedom Unlimited can be redeemed as cashback or at a fixed 1 cent per point value in the Chase Ultimate Rewards portal.

Just as with Freedom Flex Ultimate Rewards, they don’t have access to Chase’s airline and hotel transfer partners. 

But, if you have a Sapphire Preferred or Reserve or the Ink Preferred, you can combine your Freedom Unlimited rewards points with your Ultimate Rewards balance for a higher redemption value (>1 cpp) in the travel portal and get access to the Ultimate Rewards transfer partners.

Marriott Bonvoy Boundless

Current Welcome Bonus: Earn 75,000 Marriott Bonvoy points after spending $3,000 in the first 3 months. 

Favorite Card Features: 

• 6x on Marriott purchases
• 2x on all other purchases
• Earn a free night each year at hotels up to 35k points per night for your account anniversary
• Silver Elite Status
• Trip protection for delays and lost baggage
• No foreign Exchange Fees

Annual Fee: $95

Reasons to Consider it:

This is a solid offer on the Marriott Bonvoy Boundless card.

After meeting the minimum spend, your 75k Marriott points can help you book award nights domestically and in places around the globe. You can also transfer your Marriott points to over 40 airlines, including valuable partners like American Airlines and Alaksa Airlines at a 3:1 ratio and a 5k point bonus for every 60k Marriott points transferred.

Blue Cash Preferred Card from American Express

Current Welcome Bonus: $300 after spending $3000 in the first 6 months after opening your account

Favorite Card Features: 

• 6% on grocery spending up to $6k per year (1% thereafter)
• 6% on select streaming services
• 3% on gas and transit spending (trains, buses, rideshares, parking, etc)

Annual Fee: $0 for the 1st year, $95 thereafter

Reasons to Consider it:

Earn cashback rewards on your everyday spending that can then be redeemed as statement credits. Use your Blue Cash Preferred to pay for bills and expenses and then redeem your Reward Dollars to erase the charges from your statement.

Cashback rewards offer a fixed value return-rate of 1 cent per point but offer simplicity. As you earn Reward Dollars in these high-value bonus categories with the Blue Cash Preferred, you can use the rewards to offset travel expenses without the hassle of understanding airline award charts. You can also redeem your cashback rewards for non-travel expenses, too.

The World of Hyatt Credit Card

Current Welcome Bonus: 25,000 Hyatt points after spending $3,000 in the first 3 months. Plus, earn another 25k points after spending $6,000 on your card within the first 6 months of opening your card. You'll also get a free night each year at category 1-4 hotels on your account anniversary.

Favorite Card Features: 

• Earn another category 1-4 free night if you spend $15k during your cardholder year
• 9x on Hyatt purchases
• 2x on restaurants, gym memberships, commuter transit costs, and airfare booked with the airline
• 1x on all other purchases
• Hyatt Discoverist status + 5 qualifying night credits every year
• No foreign Exchange Fees

Annual Fee: $95

Reasons to Consider it:

Now with the upcoming changes to Hyatt’s award pricing delayed until 2021, there’s still time (hopefully) to take advantage of their reasonably priced award chart. Plus, a combination of points and cash can be used to redeem for free nights, as well.

The brand has made solid strides to build its geographic footprint, including its partnership with Small Luxury Hotels. Discoverist status that comes with the card includes preferred rooms and late checkout.

But the fast track the World of Hyatt card gives with the 5 qualifying nights towards higher status and the ability to earn 2 more qualifying nights for every $5k in spend means even people who don’t travel all the time can elevate their status.

Hilton Honors American Express Aspire

Current Welcome Bonus: 150,000 Hilton Honors points after spending $4,000 in the first 3 months from your account opening + earn a free weekend night certificate in the 1st year and every year you renew your card

Favorite Card Features:

• 14x on Hilton purchases
• 7x on flights booked directly with airlines or through Amex Travel, car rentals booked directly, and at U.S. restaurants
• 3x on all other purchases
• No foreign exchange fees
• $250 Hilton Resort credit
• Automatic Diamond status

Annual Fee: $450

Reasons to Consider it:

Among the line-up of American Express Hilton cards, the Hilton Honors Aspire is the brand’s premium co-branded credit card.

The welcome offer is the highest ever offer, which is important when considering American Express credit cards. You’re only allowed a card’s welcome bonus once per lifetime so all the more reason to look for the best possible offer.

The Aspire’s Diamond Status means increased point earning on paid stays, free breakfast, upgrades, Executive Floor lounge access (when available), and the 5th night free on award stays.

The free weekend night can be redeemed at nearly any Hilton Hotel worldwide. This easily has a value of hundreds of dollars when you redeem at a premium hotel.

And, the $250 resort fee credit can be used towards room rates and incidentals like food and spa purchases. Also right now, because you’re probably traveling less, this credit can be applied towards U.S. restaurant purchases.

The points earned can be redeemed at all Hilton Hotel brands, which includes Hampton by Hilton, DoubleTree, Embassy Suites, Waldorf Astoria and Conrad, to name a few. Hilton has a large geographic footprint so it’s likely wherever you’re traveling, you’ll find a Hilton property.

Even though travel is limited right now, taking advantage of a top-tier offer on a top-tier card like the Hilton Honors Aspire is a great value!

IHG Premier

IHG launched its highest ever offer on the IHG Premier card. Here are the details.

Current Welcome Bonus: 140,000 IHG points after spending $3,000 in the first 3 months. 

Favorite Card Features: 

• Earn a free night each card anniversary at eligible hotels up to 35k points per night
• 25x on IHG purchases
• 2x on restaurants, gas, and grocery spend, 1x on all other purchases
• 4th night free on award stays
• Platinum Elite status
• No foreign Exchange Fees

Annual Fee: $89

Reasons to Consider it:

This is the absolute best welcome bonus ever offered for this IHG card! This combined with the earnings for paid IHG stays and the free anniversary night every year means this card deserves a spot in your wallet.

IHG hotels include brands like Holiday Inn Express, Crowne Plaza, & InterContinental. This IHG Premier card is subject to and will add to your 5/24 count. However, it’s totally worth one of those slots!

I stayed at the Holiday Inn Express in Springdale, Utah for a trip to Zion National Park. Especially in peak National Park season, IHG redemptions can help save a ton. This Holiday Inn Express is nearly $300 a night in summer!

Business Credit Cards

Applying for a business credit card is another great way for business owners to earn miles and points. The great thing about business credit cards, aside from the additional earnings, is they don’t add to your 5/24 count. So if you’re 4/24 and you get approved for a business credit card with Chase or another bank, you’ll still be 4/24 even after getting the card.

Most people wonder, though, if they can even apply for a business credit card. The biggest thing to understand is a business can be a side hustle. It doesn’t need to be your primary source of income. This might include teachers who tutor, anyone who consults or sells a service, selling on eBay, and even someone who bakes and sells trays of cookies from home.

However, the economic climate of 2020 has made business cards harder to be approved for as banks have tightened credit lending.

You can apply for a business credit card as a sole proprietor, using your name as the business name. A social security number is fine to use if you don’t have an EIN.

Business cards are even for new businesses whose earnings just starting, although newer businesses right now may need to answer additional questions or wait until they can show enough revenue.

Use this guide to answer all your questions about how to apply for a business credit card.

Just remember to be honest about your business. If it’s your first time applying for a business credit card, a bank may naturally have some additional questions for you about your application. 

Southwest Rapid Rewards Performance Business

Current Welcome Bonus: Earn up to 100,000 Southwest Rapid Rewards Points; 70,000 Southwest Rapid Rewards points after spending $5,000 in the first 3 months from your account opening and another 30,000 Southwest points when you spend $25k during the first 6 months of card membership.

Favorite Card Features:

• 3x on Southwest purchases
• 2x on internet, cable, and cell phone costs, as well as advertising purchases for social media and search engines
• Perks include a Global Entry fee credit and 4 upgraded boarding positions
• Get 9k Rapid Rewards points each year you renew your card

Annual Fee: $199

Reasons to Consider it:

The ability to earn up to 100k Southwest Rapid Rewards points from the welcome offer, in addition to the spending you need to complete the minimum spend, would earn you the Southwest Companion Pass for 2 years.

The way it works is you’d need to meet the first and second spending tiers after your December statement closes but before the first 3 months of being approved for the card. The 125k Southwest Rapid Rewards points you could potentially earn from this offer need to hit your Southwest account in the same calendar year to earn the companion pass.

Southwest flies domestically and also to destinations in the Caribbean, Mexico, and Central America. They also fly to several Hawaiian islands.

You can book Southwest award flights for as little as a few thousand points and there are no blackout dates or award seat caps. If there’s an available seat on the flight you want, the points you earn with your Southwest Performance Business Card can help you book it.

Hilton Honors American Express Business Card

Current Welcome Bonus: 130,000 Hilton Honors points after spending $3,000 in the first 3 months from your account opening.

Favorite Card Features:

• 12x on Hilton purchases
• 6x on U.S. gas stations, restaurants, cell phone service, shipping costs, flights booked with the airline directly and rental cars booked with the car rental company directly.
• No foreign exchange fees
• Automatic Gold Status, with an upgrade to Diamond Status after spending $40k in a calendar year.

Annual Fee: $95

Reasons to Consider it:

This is one of the best welcome offers we’ve seen for this card. Having Hilton Gold status allows you to earn even more per dollar for Hilton stays, potential upgrades, free breakfast, and the 5th night free on award stays.

If you spend $15k in a calendar year, your Hilton weekend night reward is valid for a Friday, Saturday, or Sunday stay and can be used at just about any Hilton property. Hilton has hotels all over the globe, so you’re likely to find a Hilton no matter where you travel.

Remember, American Express limits you to 1 welcome offer on individual credit cards to per lifetime, so be sure you’re taking advantage of the best possible offer. 

United Business Card

Current Welcome Bonus: 75,000 United miles after spending $5,000 in the first 3 months from your account opening.

Favorite Card Features:

• 2x on United purchases, restaurants, gas stations, office supply stores, local transit & commuting (including things like tolls, taxis, and ride share costs)
• 5k United miles each year on your account anniversary if you have a United business and personal credit card
• $100 United travel credit after making 7 United flight purchases > $100
• Get 25% off United inflight purchases for things like drinks and wifi
• No foreign exchange fees
• A free checked bag when you fly with United
• 2 United Club passes each year

Annual Fee: $0 in the 1st year, $99 thereafter

Reasons to Consider it:

This limited-time offer is a solid opportunity to earn United miles and the perks that come with being a United cardholder, like access to exclusive award space.

In 2019, United ditched their award charts and moved to a dynamic pricing model for their award flights. Even still, the best ways to redeem United miles include making use of their Excursionist Perk to add a free one-way segment to award flights.

I’ve used United miles to fly to Patagonia, Thailand, & southern Africa. This card is subject to the 5/24 rule but because it’s a business card, it won’t add to your overall count.

The United Business Card is also a great option for anyone who earns Chase Ultimate Rewards points because they can be transferred at a 1:1 ratio to United to add to your account balance.

Blue Business Plus Credit Card

Current Welcome Bonus: None

Favorite Card Features:

• 2x American Express Membership Rewards points for up to $50k a year
• Add Amex Offers to the card to earn bonus points and statement credits for qualifying purchases
• Transfer Membership Rewards points to valuable airline and hotel transfer partners including Delta, Aeroplan, Virgin Atlantic, and ANA

Annual Fee: $0

Reasons to Consider it:

This no-fee powerhouse credit card is always in my wallet! Earn 2x the Amex Membership Rewards points on up to $50k in spending each year. The points earned can be transferred to Membership Rewards transfer partners for award flights and hotel nights.

The Blue Business Plus has never come with a super high welcome bonus. The highest I’ve seen is 20k Membership Rewards Points to complete a few thousand dollars in minimum spend and this is infrequent at best. 

If you’re looking to earn Membership Rewards Points and/or want an everyday spending card for your business, wait not another moment and look no further than this powerhouse of a card!

Bottom Line

Which travel rewards credit card is right for you depends on your travel plans and whether you’re just starting out with miles and points or not. Applying for new credit cards helps you earn valuable miles, points, and perks that’ll up your travel game.

Just remember, to pace yourself according to which credit card offers make sense for your travel goals. And, always pay off that bill in full at the end of the month to avoid high-interest fees that’ll negate the value of the miles and points you’re earning.

So, which travel rewards credit card offers do you think are the best right now?

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