How Tpg Values Amex Chase And Citi Rewards Points
At TPG, we publish our own point valuations that evaluate the cash value of each reward currency. These valuations are updated regularly and based on a wide range of factors to give our readers a picture of how much dollar value youll get on average from a specific rewards currency. Here is a quick breakdown of the current TPG valuations of each of the points currencies included on our list of top rewards credit cards.
| Point currency: |
| 26,125 Ultimate Rewards points | 26,626 Capital One miles | $442.42 cash back |
Regardless which card you choose from that list, the earning potential is solid especially since all three cards charge only $95 in annual fees. And this doesnt include any earnings you could get from travel expenses .
Bottom line? Rewards credit cards are well worth the annual fees that come with them when you utilize bonus categories and avoid interest payments by paying your bill in full each month.
Amex Simplycash Preferred Card*
If youre looking for a card that offers cash back without the hassle of keeping track of spending categories, the SimplyCash Preferred Card from American Express could be a great option. Youll earn a flat rate of 2% on everything you buy with no limit to how much cash back you can earn. and additional authorized users get their cards for free so you can pocket even more cash back by pooling your earning power with other members of your family or household. This card comes with a travel insurance package that includes travel accident and emergency medical coverage, along with lost or stolen baggage protection, flight delay and hotel burglary coverage road trippers will love the car rental theft and damage insurance. All this comes bundled in a card with a lower-than-average annual fee of $99.
- Annual fee: $99
- Welcome offer: 10% cash back on purchases for the first 4 months
- Earn rate: 2% cash back on all purchases
- Income requirement: None specified
- Additional perks: Travel insurance with travel accident and emergency medical coverage lost or stolen baggage protection flight delay, baggage delay hotel burglary coverage car rental theft and damage insurance American Express Front Of The Line perks
The Best Rewards Credit Card Programs
You can compare individual credit cards, but knowing a little bit about each issuers rewards program can help you narrow your search. Credit card rewards programs come in any number of flavors, and one of them is bound to work well for you. Just remember that not every credit card from an issuer will qualify for their rewards program. Here is an overview of some popular rewards programs and how they work. You can learn more about each one by reading our full reviews.
| Rewards program |
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Scotiabank Momentum Visa Infinite*
Those looking for a cash back card with a generous earn rate and welcome offer need look no further than the Scotia Momentum Visa Infinite: Cardholders earn 4% back on groceries, recurring bills and subscription services, 2% back on public transit and gas, and 1% back on all other purchaseswith no cash back limit. This represents a significant earnings opportunity, particularly since the $120 annual fee is waived for the first year for new members.
On top of the cash back rewards, the Scotia Momentum Visa Infinite includes an excellent insurance package. Travellers are covered for emergency medical, travel accident, trip cancellation or delay, delayed or lost baggage, and rental car loss or damage. This card also includes up to $1,000 in new mobile device insurance, which protects against lost, stolen or accidentally damaged phones or tablets. Finally, as part of the Visa Infinite program, this card includes Visa Infinite Services such as a concierge service and wine country discounts in Ontario and British Columbia.
Reward Points On Top Credit Cards
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Make The Most Of Your Rewards
To get the maximum value from your credit card rewards, you should earn more rewards than you pay in feesincluding a late fee or transaction-based fee like a balance transfer or cash-advance fee. Thats much easier to do once youve totaled the value of your rewards and perks. Simply compare the value of your rewards to the total interest and fees you pay on your card.
How do your rewards stack up? If youre not earning enough rewards to cover the cost of your credit card, it may be a sign to switch to a different rewards credit card.
Want a new rewards card? Start by reviewing our favorite offers. See our list of the best rewards credit cards.
Which Are The Most Popular Credit Card Rewards Programs
There are more than a dozen credit card rewards programs out there, from airline and hotel loyalty programs to issuer programs. Each month, TPG publishes our monthly rewards valuations that outline how much each point or mile currency is worth in our eyes, but each program has its advantages and disadvantages. The three largest issuer rewards programs offer flexible points, a wide range of credit card options to earn points and a solid list of transfer partners.
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Capital One Venture X Rewards Credit Card: Best For Unlimited Miles On Purchases
Why we picked it: The new Capital One Venture X Rewards Credit Card offers unlimited 10X miles on hotels and rental cars and 5X miles on flights, all when you book through Capital One Travel. All other purchases will earn an unlimited 2X miles.
Pros: Theres a sign-up bonus and limited time offer. Earn 100,000 bonus miles when you spend $10,000 on purchases in the first six months from account opening. Plus, cardmembers can receive up to $200 in statement credits for vacation rentals in the first year when charged to your Capital One Venture X Rewards account.
Cons: Theres a $395 annual fee. Its not the highest fee when it comes to premium credit cards, but its still worth noting.
Who should apply? Given all the rewards and extra perks, frequent travelers looking for an easy-to-use travel rewards credit card wont mind the annual fee that comes with the Capital One Venture X Rewards card.
Who should skip? If you dont travel often, youre better off with a general-purpose rewards credit card.
Read our Capital One Venture X Rewards Credit Card review or jump back to this cards offer details.
The Points Guy Shares 5 Ways To Earn Credit Card Points And Make The Most Of Them
It’s time to stop writing off points and start putting them to good use.
Most credit card companies offer some type of points program to make your money go further and it’s a mistake to opt out, said Brian Kelly, aka The Points Guy.
“If you’re not earning points on every purchase, essentially, you’re paying for points for everyone else because they’ve already built that into the price,” Kelly told TODAY’s Jill Martin
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Are Credit Card Miles Worth It
Whether credit card miles are worth accumulating will depend on their redemption value as well as any fees you may have incurred while earning and accumulating your miles.
If you are an occasional traveler, you may be able to earn miles at a steady pace through everyday spending. When strategizing on ways to accumulate miles, it’s important to be cautious of your spending habits and overall budget. You may also have to pay interest fees and charges in cases where you carry a balance from one billing cycle to another. In order to maximize your miles earned, make sure that you aren’t paying more in credit card debt and interest rates than you would have paid on a flight. Some travel credit cards carry higher interest rates and annual fees than general credit cards. However, these rates and fees may be worth it to frequent travelers who make efforts to keep their balances low and make on-time payments to avoid late fees and high interest.
If you have a general reward or travel credit card, the value of your points will vary as well as how many points you earn from specific purchases. Loyalty credit cards may offer generous mile earnings and special offerings for members who achieve elite member statuses. By considering your spending habits and travel needs, you can pinpoint which credit card is best for you when it comes to earning credit card miles.
Meet Any Spending Requirements
Sometimes, when you open up a new credit card, lenders will offer you a certain amount of reward points or points on travel in exchange for spending a certain amount of money on the card within a specified time frame. For example, you might be given 50,000 miles in exchange for charging at least $3,000 within the first three months of owning the card.
Of course, youll only want to use this tip if you know that you can afford to pay off what you spend. However, if you know you need to make a big purchase, it might be a good time to open up a new card so that you can get added benefit from your spending. Again, Credible can help you find reward cards that make the most financial sense for you .
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Capital One Venture Rewards Credit Card: Best For Travel Rewards
Why we picked it: This popular Capital One credit card checks all the boxes in terms of what people should look for in a travel rewards card: a competitive 2X miles back on all purchases, a generous sign-up bonus, no foreign transaction fees and up to a $100 credit to put toward the application fee for Global Entry or TSA PreCheck.
Pros: The current sign-up bonus is quite lucrative: Cardholders can earn 60,000 bonus miles when they spend $3,000 in their first 3 months.
Cons: Rewards maximizers might find their redemption options a little too straightforward, given the miles you earn on your Venture card are largely worth one cent per mile and the exchange rate is low for most transfer partners. Theres a $95 annual fee, though it is relatively easy to recoup.
Who should apply? We estimate you need to spend around $396 or more a month to justify the cards annual fee , so moderate spenders looking for a simple travel rewards card will find this one fits the bill.
Who should skip? While Capital One miles are one of the most flexible rewards currencies available, those seeking cash redemption options wont get quite as much value out of those rewards.
Read our full Capital One Venture Rewards Credit Card review or jump back to this cards offer details.
Pay Your Mortgage Or Rent With A Credit Card
Services like RadPad and Plastiq let you pay your rent with a credit card. Your landlord doesn’t even have to sign up these websites send a rent check to your landlord on your behalf. Unless you find a promotion, it will cost you a 2%-3% transaction fee. This means you’re paying 2 to 3 cents per $1, so you need to be getting back more than 2%-3% in rewards to profit. If you’re trying to hit a minimum spend requirement to get the sign-up bonus on a credit card offer, the 2%-3% fee is almost always worth it.
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Buy Gift Cards At Grocery Stores Or Other Retailers Where Your Credit Card Earns Rewards
Say you have a credit card like the Blue Cash Preferred® Card from American Express which offers 6% back on up to $6,000 spent annually at U.S. supermarkets . If your favorite U.S. supermarket sells gift cards to other places you frequent, you could use your Blue Cash Preferred® card to buy gift cards to those establishments, and earn bonus rewards on that purchase. You won’t actually earn any bonus rewards when using the gift cards, but, because you purchased them at a U.S. supermarket, you’ll earn rewards when purchasing the gift cards themselves. American Express is a CardRatings advertiser terms apply.
What Is The Best Credit Card For Airline Miles
The best card to use for airline miles is the card that works best for you. If you are loyal to one airline, it might make sense for you to hold that airlines card even if the earnings rates arent the strongest. If youre not loyal to a specific airline, a card that earns flexible rewards like Chase Ultimate Rewards or American Express Membership Rewards is likely to be a better choice.
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Rogers World Elite Mastercard
The Rogers World Elite Mastercard has some great perksif you qualify. The earn rate is an impressive 1.5% cash back on all purchases, and 3% back on spends made in U.S. dollars . The card includes insurance for emergency medical, trip interruption and trip cancellation, along with rental car collision/damage. Not too shabby for a card with no annual fee!
Do note, however, that there are some quirks. For instance, while purchases made in U.S. dollars earn 3% cash back, foreign purchases in other currencies do not. And, in a strange move for a Rogers-branded card, there are no bonus rewards on Rogers products. Finally and most importantly, youll be required to make at least $15,000 in purchases on the card every year, or be downgraded to the entry-level Rogers Platinum Card.
- Annual fee: $0
- Welcome offer: None
- Earn rate: 1.5% on everything 3% on purchases made in U.S. dollars
- Income requirement: Credit approval plus a minimum annual income requirement of $80,000 or $150,000
- Additional perks: Travel insurance for emergency medical, trip interruption and trip cancellation rental car collision/damage access to more than 1,000 LoungeKey airport lounges free Boingo wi-fi
Summary
Are Credit Card Points Worth It
Your lifestyle and spending habits will influence whether reward points are worth it to you. There may also be opportunities to earn cash back points by making your regular grocery, department store, and gas station purchases on a reward credit card. Frequent travelers may find it convenient and worthwhile to book hotel rooms and flights through select travel booking sites to earn miles or points or enroll in co-branded loyalty programs for exclusive point accumulation. Bonus promotions could also offer new users generous point redemption, depending on the promotion being offered.
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How Do Travel Rewards Credit Cards Work
Travel rewards cards dont just mean airmiles. They bring a whole host of travel perks into your life that youll wonder how you previously lived without like lounge access, seat upgrades, comprehensive travel insurance, statement credits and more.
Similar to cash back cards, there are also different types of travel rewards cards which offer slightly different benefits.
Blue Cash Preferred Card From American Express: Best For Us Supermarkets
Why we picked it: A top American Express card, the Blue Cash Preferred offers a whopping 6% cash back at U.S. supermarkets . It also offers a best-in-class 6% cash back on select U.S. streaming services.
Pros: The card also offers 3% cash back at U.S. gas stations and on transit, and 1% cash back on general purchases. Cardholders earn a $300 statement credit after spending $3,000 in purchases on the new card within the first six months. Theres also a 12-month 0% introductory APR on new purchases .
Cons: Theres an ongoing $95 annual fee , though big gas and supermarket shoppers should find that relatively easy to recoup.
Who should apply? The well-rounded Blue Cash Preferred is a great option for families or heads of household, given its high cash back at U.S. gas stations and supermarkets, particularly if you can earn the welcome bonus or leverage the promotional APR on purchases.
Who should skip? Moderate spenders may struggle to offset this cards annual fee.
Read our full Blue Cash Preferred Card from American Express review or jump back to this cards offer details.
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