Top 10 Best Credit Card Bonus Offers – June 2020 (Updated)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

Updated June 2020. I’m still collecting points and miles and maximizing the value of my credit card spending. Things are quiet as credit card issuers get conservative, but that just means picking up some slightly lesser bonuses that I passed over previously.

That space in your wallet or purse is still valuable, and you should be the one to get that value. Selected banks are offering strong perks and $500+ value for a single card during the first year to encourage you to apply and try it out. These are the top 10 credit card offers that I would personally apply for right now, if I didn’t already have most of them. Notable changes:

  • IHG Hotels 140k/75k – 140k still highest ever, new 75k traveler with no annual fee.
  • Sapphire cards add some short-term benefits.
  • Removed NavyFed, added US Bank Altitude card.

If you pay off your balances every month, then you can join me and many others in funding a huge chunk of your annual travel budget with cash credits, points, and miles. You don’t need to be a “I only fly business class” world traveler. I mostly use my rewards points on domestic economy flights, mid-class hotels, and cheap car rentals. If you have credit card debt, you should focus on paying that off first as the interest charges could offset most of the perks.

This is a companion post to my Top 10 Best Business Card Offers. Small business bonuses are on average even higher than those on consumer cards.

Note: Certain Chase cards have a “5/24 rule” which is an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards from any issuer on your credit report within the past 2 years. This rule applies on a per-person basis, so if you are new, you might want to start with those Chase cards.

IHG Rewards Club Premier Card

  • 140,000 IHG Rewards club points after $3,000 in purchases within the first 3 months. See link for details.
  • Free Night after each account anniversary year (valued up to 40,000 IHG points).
  • $89 annual fee.
  • Subject to 5/24 rule.
  • Want something lower risk? The no-annual fee Traveler version is now offering 75,000 IHG points.

Chase Sapphire Preferred Card

  • 60,000 Ultimate Rewards points (worth $750 towards travel) after $4,000 in purchases within the first 3 months. See link for details.
  • Short-term COVID-related benefits including 3X on groceries.
  • 2X points on Travel and Dining at restaurants worldwide.
  • $95 annual fee.
  • Subject to 5/24 rule.
  • Alternative: Chase Sapphire Reserve Card. 3X on Travel and Dining, Priority Pass airport lounge access, $550 annual fee, $300 annual travel credit, 1-year Lyft Pink membership.

Citi / AAdvantage Platinum Mastercard

  • 60,000 American Airlines miles after $3,000 in purchases in the first 3 months. See link for details.
  • First checked bag free on domestic AA flights ($60 value per roundtrip, per person).
  • $0 annual fee for the first year, then $99.

JetBlue Plus Card

  • 60,000 TrueBlue points after $1,000 in purchases within the first 90 days. Limited-time offer. See link for details.
  • Free first checked bag for you and up to 3 companions when you use your JetBlue Plus Card.
  • $99 annual fee.

Barclays AAdvantage Aviator Red World Elite Mastercard

  • 60,000 American Airlines miles after any purchase in the first 90 days and paying the $99 annual fee. See link for details.
  • $99 Companion certificate offer. Earn a certificate good for 1 guest at $99 (plus taxes and fees) after making your first purchase and paying the $99 annual fee in the first 90 days.
  • First checked bag free on domestic AA flights ($60 value per roundtrip, per person).
  • $99 annual fee.

Citi Premier Card

  • 60,000 points (worth $750 towards travel booked at ThankYou.com) after $4,000 in purchases in the first 3 months. See link for details.
  • 3X points for every $1 spent on travel including gas stations.
  • Must not have gotten bonus from or closed a Citi Rewards+, ThankYou Preferred, Premier, or Prestige card in the past 24 months.
  • $95 annual fee.

Bank of America Premium Rewards Card

  • 50,000 points (worth $500 towards travel) after $3,000 in purchases within the first 90 days. See link for details.
  • 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
  • $100 annual Airline Incidental Statement Credit.
  • Up to $100 credit towards TSA PreCheck or Global Entry application fee.
  • $95 annual fee.

Capital One® Venture® Rewards Card

  • 50,000 miles (worth $500 towards travel) after $3,000 in purchases within the first 3 months. See link for details.
  • 2% cash back on ALL purchases. Plus earn 10X miles at Hotels.com through January 2020.
  • Up to $100 credit towards TSA PreCheck or Global Entry application fee.
  • $0 annual fee for the first year, then $95.

Hawaiian Airlines World Elite MasterCard

  • 50,000 Hawaiian miles after $2,000 in purchases within 90 days. See link for details.
  • Free first checked bag for primary cardmember when using your card to purchase eligible tickets directly from Hawaiian Airlines.
  • Receive a one-time 50% off companion discount for roundtrip coach travel between Hawaii and The Mainland on Hawaiian Airlines.
  • $99 annual fee.

U.S. Bank Altitude Reserve Credit Card

  • 50,000 bonus points ($750 value towards airfare) after $4,500 in purchases within 90 days. See link for details.
  • $325 in annual statement credits towards travel per Cardmember year (based on account opening date)
  • Up to $100 statement credit for Global Entry or TSA PreCheck.
  • Priority Pass Select membership for airport lounge access.
  • $400 annual fee. (Bigger bonus, big annual fee.)

Chase World of Hyatt Card

  • Up to 50,000 Hyatt points. 25,000 Bonus Points after $3,000 in purchases in the first 3 months. Plus an additional 25,000 Bonus Points after a total of $6,000 in purchases within the first 6 months. See link for details and rough valuation of points.
  • $95 annual fee, free night award upon card anniversary.
  • Subject to 5/24 rule.
My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Chase Sapphire Preferred and Sapphire Reserve: Helpful New COVID-19 Benefits (Up to 7.5% Back on Groceries)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

The Chase Sapphire Preferred card and Chase Sapphire Reserve card have been very popular for their generous travel and dining perks, but right now travel and dining aren’t really happening. Chase has wisely adjusted their rewards program for this new environment, in addition to the recently-added Doordash benefits. I will definitely be taking advantage of these new earning perks, although I’m still leaning slightly towards keeping my points to redeem toward a Hyatt hotel vacation one day…

Chase Sapphire Preferred new changes:

  • 3x points at grocery stores. Earn 3x total points on grocery store purchases from May 1 to June 30, 2020, on up to $1,500 each calendar month. No activation required. Includes Instacart.
  • Redeem Ultimate Rewards points at 1.25 cents per points towards grocery store, dining, and home improvement purchases. (Previously only travel through their portal.) “With the Pay Yourself BackSM tool, your Ultimate Rewards® points are worth 25% more when you redeem them for statement credits against purchases in our current categories: grocery stores, dining (including restaurants, takeout, and eligible delivery services), and home improvement stores such as Home Depot® and Lowes®. Just choose an eligible purchase you made in the past 90 days, apply points for all or part of the purchase, and you’ll get a statement credit. Take advantage of this promotion through September 30, 2020.1”

Since you can earn at 3 points per dollar spent and redeem at 1.25 cents per point at the grocery store, this is effectively makes the Sapphire Preferred a 3.75% cash back card towards groceries (up to $1,500 in purchase each month until 6/30/20). Keep in mind that you can buy many types of gift cards at grocery stores as well, including Amazon.

Chase Sapphire Reserve new changes:

  • 5x points at grocery stores. Earn 5x total points on grocery store purchases from May 1 to June 30, 2020, on up to $1,500 each calendar month. No activation required. Includes Instacart.
  • Redeem Ultimate Rewards points at 1.5 cents per points towards grocery store, dining, and home improvement purchases. (Previously only travel through their portal.) “With the Pay Yourself BackSM tool, your Ultimate Rewards® points are worth 50% more when you redeem them for statement credits against purchases in our current categories: grocery stores, dining (including restaurants, takeout, and eligible delivery services), and home improvement stores such as Home Depot® and Lowes®. Just choose an eligible purchase you made in the past 90 days, apply points for all or part of the purchase, and you’ll get a statement credit. Take advantage of this promotion through September 30, 2020.”
  • $300 annual travel credit counts towards gas station and grocery store purchases. “Now enjoy more flexibility with your annual $300 Travel Credit. From June 1 through December 31, 2020, gas station and grocery store purchases will also count toward earning your Travel Credit. You’ll also earn points on these purchases (and, as always, after your first $300 in travel purchases, you’ll immediately start earning 3x points on travel).”
  • Annual fee renewal $100 discount. Sapphire Reserve annual fee renewals through the end of 2020 will be $450 instead of the normal $550. This is only for renewals, not new cardmembers.

Since you can earn at 5 points per dollar spent and redeem at 1.5 cents per point at the grocery store, this is effectively makes the Sapphire Reserve a 7.5% cash back card towards groceries (up to $1,500 in purchases each month until 6/30/20). Keep in mind that you can buy many types of gift cards at grocery stores as well, including Amazon.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Blue Cash Preferred from American Express Review: 6% Cash Back at US Supermarkets ($6,000/Year), Netflix, HBO Now, Spotify

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

(Note: Due to the impact of COVID-19, for eligible Card accounts approved from December 1, 2019 through May 31, 2020 for which you are eligible for a welcome offer, the period to make eligible purchases to earn your American Express welcome bonus will be extended for an additional 3 months.)

The Blue Cash Preferred® Card from American Express has been in heavy rotation recently: 6% cash back at US stand-alone supermarkets on up to $6,000 per year in purchases. If you spend $100 a week at supermarkets, that alone will earn you over $300 a year in rewards. Here are the updated highlights:

  • $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 3% Cash Back at U.S. gas stations.
  • 6% Cash Back on select U.S. streaming subscriptions. (NEW)
  • 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more. (NEW)
  • 1% Cash Back on other purchases.
  • $95 annual fee.

It also worked out that they added 6% back on select US streaming subscriptions (see below for full list), all while removing the ability to earn 3% cash back at U.S. department stores.

Max out your benefit by buying gift cards at US supermarkets. I use this card to buy gift cards at a standalone US supermarket to use up the annual limit and get 6% back. My local Safeway has an entire wall of options, but I usually go with Amazon, Apple iTunes, or Starbucks. You can easily confirm that your purchase still gets 6% cash back on your account online:

Supermarkets details. “US stand-alone supermarkets” means that superstores, convenience stores and warehouse clubs are not considered supermarkets. This means no Super Wal-Mart, no Super Target, no Costco. Examples of merchants that count (and this is not a complete list!) are Safeway, Whole Foods, Meijer, Vons, Winn-Dixie, Gristedes, Shoprite, Stop and Shop, and online supermarkets such as FreshDirect.

Gasoline details. “US stand-alone gas stations” means that superstores, supermarkets, and warehouse clubs that sell gasoline are not considered gas stations. This means no Target, no Costco, no Sam’s Club. Examples of merchants that count (and this is not a complete list!) are Exxon, Mobil, Hess, Shell, Gulf, Murphy USA, Murphy Express.

US Streaming Subscriptions details. These are all included:

• Amazon Music
• Apple Music
• Audible
• CBS All Access
• Direct TV Now
• ESPN+
• Fubo TV
• HBO Now
• Hulu
• iHeartRadio
• Kindle Unlimited
• MLB.TV
• NBA League Pass
• Netflix
• NHL.TV
• Pandora
• Prime Video Unlimited
• Showtime
• Sling TV
• SiriusXM Streaming and Satellite
• Spotify
• YouTube Music Premium
• YouTube Premium
• YouTube TV

Annual fee. There is a $95 annual fee, so you’ll want to utilize that 6% cash back on groceries to maximize your value. If you spend the max cap of $500 a month at supermarkets, at 6% back that would net you $360 cash back in a year vs. $60 at 1% cash back. Note that simply spending $31 per week at supermarkets at 6% cash back will result in over $95 Reward Dollars per year to cover the annual fee.

If you don’t like the idea of paying an annual fee, the Blue Cash Everyday Card from American Express offers 3% at U.S. supermarkets on up to $6,000 per year in purchases with no annual fee. It currently offers a $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

Cash back is officially given in the form of Reward Dollars that can be redeemed as a statement credit, gift cards, and merchandise. I always just stick with statements credit to directly pay down my monthly bill.

Bottom line. The Blue Cash Preferred® Card from American Express has the key feature of 6% cash back at US supermarkets (on up to $6,000 per year). You can now also get 6% cash back on Netflix/Spotify/HBO Now as well as 3% cash back at US gas stations and transit (Uber/Lyft/train). This has been a “keeper” card for me for many years now. I treat it like one of my 5% cash back cards, except there are no rotating categories or activations to worry about.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Top 10 Sources to Raise Emergency Cash, Ranked

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

While not exactly a fun exercise, do you know where you’d turn for some extra cash in an extended emergency? Morningstar has 10 Sources of Emergency Cash, Ranked from Best to Worst which contains many good points, but I would differ in my rankings.

I wondered about severity and duration. Is this money you expect to be able to pay back within a year, or is it a one-time permanent expense? You may not know the answer for sure, but for the purposes of this list I will assume that I become unemployed for an extended period and can’t start paying the loan back for 12 months.

1. Do the legwork and delay, defer, or work out a payment plan. Many lenders will work with you if you are in a temporary cash crunch, but you have to take the initiative. It may be possible to defer mortgage payments, put your student loan into forbearance, or get other forms of relief. By delaying any of these bills and ideally adding the payment due to the end of your term, you can save cash now for something else that can’t be put off until later.

2. Existing emergency fund. The standard advice is to keep 3-6 months of expenses in a liquid savings account. Has there been a reliable study on how many households actually have this? I would keep a little held back if possible and move down to the next available option below.

3. Sell the stuff. If you own things you don’t truly need, like a second car, timeshare, boat, jewelry, or other non-essential assets, it may be time to sell even at a loss. Your pride shouldn’t come in the way of protecting your family’s financial security.

4. 0% APR credit cards. Sure, credit card interest rates can be very high, but that’s because they can’t take away your house, car, or 401k balance away from you if you can’t pay it back! This is an important detail! If you’ve been taking good care of your credit score, you can score some low-interest financing for over a year. You can either go for a 0% APR balance transfer or simply put everything possible on your card to take advantage of 0% APR for purchases. If I was really hurting, cashing one of these 0% APR checks I keep getting and paying an upfront 3% balance transfer fee would be fine. If you don’t have them lined up yet, you should apply before you lose your job, as the credit card companies are tracking your employment nowadays and they may know if you’ve been laid off recently.

5. Taxable brokerage account. If you have stocks and bonds held outside employer plans and IRAs, these are fair game to sell. If I was really paying 17% interest, I would pay off the credit cards with some of this. I would first stop reinvesting dividends and start taking them as cash. Most places say to sell your bonds because they probably have minimal capital gains and haven’t dropped significantly in value during a crisis. You may also look for stock lots with tax losses that you can harvest. Again, it would depend on the tax situation; I might move on below if the expense is a temporary one.

6. Margin loans. Don’t want to sell some of your positions? Margin loans are backed by the value of your brokerage assets, and you can get it as cold hard cash. The risk is that if your collateral (stocks, bonds, ETFs, mutual funds) drop steeply in value, your broker will force you to sell them to cover your loan. That could be a double-whammy of badness! Therefore, you should only borrow a very small percentage of the available amount. (In other words, this option is best if you have a big brokerage balance.) If you believe there is a good chance you will use this feature, consider moving your account over to Interactive Brokers as they have some of the lowest margin rates available (currently 1.55% on $25k). Margin requirements can get a little complex, see this Fidelity article.

7. Home Equity Line of Credit (HELOC). Here’s another place I differ from Morningstar. I would much rather draw some money from my HELOC at about 5% interest for maybe a few months to a year than pull out a Roth IRA contribution that I can’t replace ever again. The catch here is that during a crisis, many banks may stop accepting applications or even freeze your existing HELOC. As of this writing, Wells Fargo and Chase have already stopped opening up new HELOCs. You should set one up now and not wait to pull money out at the last minute.

8. IRA “Loan” (CARES Act.) This is specific to right now. The CARES Act now allows you to take up to $100,000 out of your IRAs, after which you have 3 years to put it back into your IRA again without penalty or tax. It’s kind of like a really long rollover window. However, you will owe income tax on whatever partial amount is not put back within 3 years. This is called a coronavirus-related distribution (CRD) and is limited to those affected by the coronavirus (ex. diagnosed with COVID-19, experienced a layoff, furlough, reduction in hours, or inability to work due to COVID-19, or lack of childcare because of COVID-19.)

9. Life insurance cash values. I don’t have any whole life insurance myself, but built-up cash values seem like an acceptable place to draw some money in a true emergency. The loan option seems to be more complicated.

10. 401k loans. If one person in the household has a job that is very secure, then a 401k loan can offer a very low interest rate. You also pay the interest back into the 401k balance, so the only effective “cost” of the loan is that you will pay income tax on the interest an extra time. For example if the interest rate is 8% and your marginal income tax rate was 25%, you’d only effectively be paying 2% interest. The CARES Act now allows you to take out 100% of the vested balance, up to $100,000. The risk with a 401k loan is that if you get laid off, you must pay back the loan within 90 days or it will count as an unqualified withdrawal (taxes + penalties) until you are over age 59.5.

Everything else. Other options may include taking Social Security early, taking out a reverse mortgage on your home, and other forms of personal loans. My overall theme is that I want to protect my tax-sheltered assets if possible. I don’t want to touch my Traditional IRA, Roth IRA, 401(k). These are meant to grow for decades and decades, and since the contribution amounts are limited each year, I can’t get them back once I have taken them out as a hardship withdrawal.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Refinance Your Car Loan Due To Ultra-Low Interest Rates?

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

Many interest rates are at all-time lows right now. This means that if you have any sort of debt, you should explore refinancing. The goal is to lower your interest rate and monthly payments while paying minimal upfront costs and fees.

Did you know that you can refinance your existing car loan? While I advise avoiding car loans because they turn a painful $1,500 in optional features into “only” $20 a month, I also know that most people do end up taking out a loan. Experian says that 85% of new cars and 55% of used cards are financed as of Q4 2019.

I’ve long recommended a good credit union for a new or used car loan. Below are one refi-centric rate comparison and several national credit unions that offer competitive rates on refinancing existing car loans – down to as low as 2% APR. For credit unions, don’t be afraid to use the alternative paths listed to join. There should be no loan application fee, although you will have to undergo a credit check. You should get multiple quotes to compare, including at least one credit union.

MyAutoLoan.com Refinance

  • This one is not a credit union, it is like LendingTree for auto loan refinancing. Open to everyone, you submit one application and they will give you multiple quotes from different private lenders.
  • They offer an interest rate estimator tool with no credit check based on your overall credit profile.
  • No application fees.
  • Refinance for as low as 2.04% APR for 36 months. They seem to specialized in refi, as their listed refinance rates are lower than their new/used car purchase loan rates.
  • No payments for up to 90 days for qualified borrowers.

Pentagon Federal Credit Union

  • Membership open to active, honorably discharged, or retired military, Federal employees, or select membership groups. This includes being a Red Cross blood donor or volunteer. You can also join the Navy League for $25. I recommend just going through the PenFed application process and let them guide you.
  • Currently, they are offering a $250 bonus when you refinance an auto loan with them.
  • Refinance a 2019/2020 model year car for as low as 2.14% APR for 36 months.
  • Refinance a 2018 or older model year car for as low as 2.99% APR for 36 months.

Navy Federal Credit Union

  • Membership open to active military, veterans, and family members of veterans.
  • Refinance a 2019/2020 model year car for as low as 2.29% APR for 36 months.
  • Refinance a 2018 or older model year car for as low as 3.89% APR for 36 months.

USAA

  • Membership open to those with the military affiliation: active duty, Guard or Reserve, a veteran, an eligible family member, or a cadet or midshipman. USAA is the most strict about their membership if you are not military, but they usually have very competitive rates.
  • No application fee.
  • No payments until 60 days after your loan is approved.

Hanscom Federal Credit Union

  • Membership open to active or retired military as well as other partner organizations. If you don’t otherwise qualify, anyone can join the Nashua River Watershed Association for a one-time $35 fee.
  • Hanscom FCU offers a 0.25% discount for loans on new and used vehicles (excluding motorcycles) to current active duty members in the U.S. Military.
  • No application fees or title transfer fees.

Why multiple quotes? If you apply for a car loan, they will run a credit check and provide a specific rate quote on your credit report data. (Check your credit reports for free once a week until April 2021.) Thus, I wouldn’t only go by which place advertises the lowest “as low as” rate unless you have a perfect credit score. You should apply to multiple lenders and compare as they may target differed borrower profiles. If you make these credit checks within a short period of time (Experian suggests 14 days or less), the credit bureaus should automatically recognize that you are comparison shopping and only count one hard inquiry against your credit score.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Pay with Discover Card Points, Get 20% Off at Amazon.com (Targeted)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

Discover it 14 Image

If you have a Discover with cash back rewards, you can redeem them to buy eligible items at Amazon.com. The redemption rate is $1 in Cash Back Bonus = $1 to spend at Amazon, which is the same rate as their statement credit redemptions. Here is a targeted promotion where you can get 20% off Amazon.com purchases (max $50 discount) when you redeem at least $0.01 in Discover cash back. The promotion may not work for everyone, but it worked for me and I’ve usually done every other promotion including a similar promotion last year. Via SD:

  • Click here to link your Discover Cashback points balance to your Amazon account
  • Click here to activate the promotion on your Amazon account (eligibility will vary)
  • Add one or more of eligible products sold and shipped by Amazon.com to your shopping cart. Note the maximum discount available is $50.
  • Proceed to checkout & select your Discover Card as your payment method
  • Select the amount of Discover Cashback Bonus Points you would like to use for the purchase (must use at least 1 point or $.01)
  • Savings will be reflected on the final order checkout page if the items in your order are eligible for the promotion credit.

This is a limited-time offer. 20% off with Discover Cashback Bonus, maximum discount of $50. The promotion will end on the earlier of (a) 11:59 PT on 4/20/2020, or (b) the time at which offers worth $2,000,000 have been redeemed. The promotion will expire concurrently. Amazon.com reserves the right to cancel or modify this offer at any time.

This is nice perk for existing Discover cardholders, which is why I never cancel a card with no annual fee. For example, you could save $47 on Airpod Pros and pay a net price of $188. Check out my Discover it credit card review, one of my keeper 5% cash back cards.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Citi Rewards+ Card Review: 0% APR on Purchases for 15 Months + 15,000 Bonus Points

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

I’ve ignored this card until now, but the Citi Rewards+ Card has become more attractive in this environment with its 0% introductory APR for 15 months from date of account opening, upfront sign-up bonus, and round-ups rewards on small purchases with no annual fee. (Credit card companies tend to cut back on the 0% offers during recessions.) Here are the highlights:

  • 15,000 bonus points after $1,000 in purchases in the first 3 months. 15,000 ThankYou points = $150 in gift cards at ThankYou.com.
  • 0% Intro APR on balance transfers and purchases for 15 months. Balance transfer fee is either $5 or 3% of the amount of each transfer, whichever is greater.
  • Minimum 10 points earned on every purchase. The card automatically rounds up to the nearest 10 points on every purchase, so for example a $1 parking charge or $2 cup of coffee can earn 10 points. This happens on every purchase with no cap.
  • 2X points at Supermarkets & Gas Stations on the first $6,000 per year. 1 point per $1 spent thereafter.
  • 10% of your points rebated back on the first 100,000 ThankYou® Points redeemed per year.
  • No annual fee.

Note the following terms:

Bonus ThankYou® Points are not available if you received a new cardmember bonus for Citi Rewards+(SM), Citi ThankYou® Preferred, Citi ThankYou® Premier/Citi Premier(SM) or Citi Prestige®, or if you have closed any of these accounts, in the past 24 months.

0% introductory APR on purchases for 15 months. This is one of the longest 0% intro periods on purchases, which means that you can keep charging all your purchases on this card for 15 months and not have to pay any interest. Carrying a credit card balance is obviously not ideal, but in extreme times such an offer can help with short-term cashflow issues and defer your monthly expenses until later. You will still need to keep making the minimum payments each month to keep the 0% rate. There is also 0% intro APR for 15 months for balance transfers, but that comes with a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.

Round up rewards, helpful on small purchases. The default rewards on this card is 1 point per $1 spent, which is rather common these days. They try to mix things up by making it round up to the nearest 10 points on every purchase. For example, a $1 purchase would earn 10 points, not 1 point. A $2 purchase would earn 10 points, not 2 points. A $11 purchase would earn 20 points, not 11 points. This makes the effective rewards percentage much higher on small purchases. If you make a lot of small purchases, this card is well-suited for you.

If you have a high monthly spend amount, I would recommend the Citi Double Cash card instead, as it earns 2% cash back on purchases.

10% Points Back for the first 100,000 ThankYou® Points you redeem per year. Let’s say you get that 15,000 points bonus and earn another 5,000 points from your purchases. When you redeem your 20,000 ThankYou points for a $200 gift card, you’ll also get 2,000 points rebated back to your account.

Combine with Citi Prestige or Citi Premier Cards. If you also have the Citi Prestige Card or Citi Premier Card (which do have annual fees), you move your ThankYou points into the account linked to those cards and then transfer them to airline partners such as Cathay Pacific, JetBlue, or Singapore Airlines. This would effectively increase the value of the points earned from the Citi Rewards+ card.

Bottom line. The Citi Rewards+ Card offers a long 15-month 0% introductory APR period on purchases on top of a 15,000 point sign-up bonus worth $150 in gift cards. This can help you with short-term cashflow issues by charging your purchases with no interest accruing during the first year and three months. There is also a unique rewards structure for those that make a lot of small purchases. No annual fee.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® Review

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

Updated. The CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® is a solid business travel card from Citi and American Airlines. They have recently boosted their sign-up bonus with a limited-time offer. I am still busy accumulating miles as I fully believe that we will be traveling once again. Here are the details:

  • 65,000 American Airlines bonus miles after $4,000 in purchases within the first 4 months.
  • First checked bag free on domestic American Airlines itineraries for you and up to 4 travel companions.
  • Preferred boarding on American Airlines flights.
  • 2 AAdvantage® miles per $1 spent on eligible American Airlines purchases.
  • 2 AAdvantage® miles per $1 spent on purchases at telecommunications merchants, cable and satellite providers, car rental merchants and at gas stations.
  • 1 AAdvantage® mile per $1 spent on other purchases
  • No foreign transaction fees.
  • Annual fee $99, waived for the first 12 months.

Note the following fine print:

American Airlines AAdvantage® bonus miles are not available if you have received a new account bonus for a CitiBusiness® / AAdvantage® Platinum Select® account in the past 48 months.

To clarify, you can have one of both the consumer version of this card and this business version under your name. The bonuses are also separate.

Baggage fee value. Currently, American Airlines recently joined the other airlines and now charges $30 one-way for the first checked bag and $40 one-way for the second checked bag in Economy. That’s $60 roundtrip for a single checked bag, per person. With this card, your first checked bag is free on domestic American Airlines itineraries for you and up to four companions traveling with you on the same reservation.

Redemption tips. American Airlines MileSAAver awards are still 25,000 miles for a round-trip ticket within the contiguous 48 states. Their online system is pretty good for looking for domestic AA awards. If the trip is less than 500 miles, then it is only 15,000 miles round-trip within the contiguous 48 states. Under-500 miles routes include Las Vegas to/from Los Angeles, Charleston to/from Miami, New York to/from Washington DC, Philadelphia to Boston, and many others.

This card also makes you eligible for Reduced Mileage Awards, where you save up to 7,500 miles on roundtrip MileSAAver® awards to select destinations on American Airlines operated flights.

Companion Certificate perk. I don’t see this available on the consumer version of this card: Earn an American Airlines Companion Certificate for domestic main cabin travel after you spend $30,000 or more in purchases each cardmembership year and cardmembership is renewed. Redeeming the certificate costs $99 for the ticketing fee plus $21.60 to $43.20 in government taxes and fees, based on itinerary.

Business card eligibility. Many people aren’t aware that they can apply for business credit cards, even if they are not a corporation or LLC. Any individual can be a small business. Perhaps you sell items on eBay, Craiglist, or Etsy. Maybe you do some graphic design, web design, freelancing and/or consulting. If you received a 1099-MISC tax form and filled out a Schedule C, that means you have business income, you pay self-employment taxes, and you’re a sole proprietorship. This is the simplest business entity, but it is fully legit and recognized by the IRS. On a business credit card application, you should use your own legal name as the business name, and your Social Security Number as the Tax ID.

Bottom line. The CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® offers a lot of potential value when you regularly fly on American and use the early boarding and free first checked bag benefit (now $60 per person, roundtrip). Right now, there is a limited-time sign-up bonus and the annual fee is waived for the first year.

Please note this a business card, designed specifically for businesses. Click here for the consumer version.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Chase IHG Rewards Club Traveler Card Review: 75,000 Bonus Points, No Annual Fee

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

The Chase IHG Rewards Club Traveler card is the IHG hotel card that includes a sign-up bonus and special IHG perks but with no annual fee. They just improved the sign-up bonus from 60k to 75k points. Here are the highlights:

  • 75,000 bonus IHG points after $2,000 in purchases within the first 3 months.
  • Earn 15X points total per $1 spent when you stay at an IHG hotel.
  • Earn 2X points at gas stations, grocery stores, and restaurants and 1 point per $1 on all other purchases.
  • No foreign transaction fees.
  • Fourth Reward Night Free when you redeem points for any 4+ night stay.
  • No annual fee.

This is a new card, but please note the following:

This product is not available to either (i) current cardmembers of this credit card, or (ii) previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months.

This offer is for the new “IHG Club Traveler” card, so this language means that if you have the older and different “Premier” or “Select” card, you can still apply for this card and get the sign-up bonus.

What can you get with IHG points? The best redemption value for IHG points is for free hotel nights. The other options offer significantly less value. While the points don’t translate directly to a dollar value, but overall you should expect around 0.60 cents of value per point, which would make 60,000 IHG points worth an estimated $360 value. Not bad for a no annual fee card. You can perform the calculations for hotels that fit your needs. I tried a bunch of other various combinations and got between 0.5 cents and 0.8 cents per point equivalent value.

IHG stands for Intercontinental Hotel Group which has over 5,000 hotels including the following brands:

  • Intercontinental Hotels & Resorts
  • Crowne Plaza
  • Kimpton
  • Holiday Inn, Holiday Inn Express
  • Staybridge Suites
  • Candlewood Suites
  • Hotel Indigo
  • EVEN Hotels

IHG points expire after 24 months of inactivity, which is relatively long so with occasional activity you can easily save up these free nights for later. Chase Ultimate Rewards points also convert to IHG points.

Total of 15x points per $1 spent when you stay at IHG. Here’s how this breaks down: Earn 5X points per $1 spent as an IHG® Rewards Club Traveler credit cardmember + 10X points per $1 spent from IHG® for being an IHG® Rewards Club Member, for a total of 15X points total at any of their 5,400+ IHG® hotels & resorts.

Given my 0.6 cent per IHG point valuation, I would book my IHG nights on this card, but not my everyday purchases on an ongoing basis.

  • 2 IHG points per $1 spent at gas stations, grocery stores, and restaurants.
  • 1 IHG point per $1 spent on all other card purchases

Upgrade to Premier? Downgrade to Traveler? If you can reliably use a anniversary night certificate (40,000 point maximum value) and get $89 value out of it, you should consider going with the IHG Rewards Premier credit card mentioned on the same application page. The Premier card also adds some other small perks like Platinum Elite status and a TSA Precheck fee credit.

If you already have the Premier card and don’t want to pay for those added perks, you may consider asking if you can downgrade to this Traveler now without any annual fee.

Bottom line. The Chase IHG Rewards Club Traveler credit card now comes with no annual fee and an improved sign-up bonus boost of 75,000 IHG points. As with most of these co-branded cards, the best value is obtained if you can redeem for IHG hotel nights.

Also see: Top 10 Best Credit Card Bonus Offers.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Special Coronavirus Relief: Paid Leave, Mortgage Payments, Student Loans, Credit Cards, and Unemployment

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

Wow. I thought that I was prepared, but I must admit that I was still shaken by last week. For those facing severe financial emergencies right now, so I have tried to collect information and links to where you can hopefully find some help. Be prepared advocate for yourself; many of these will only be given to those who ask and are persistent. Everything is in flux as well, so if you don’t find success try again later. There will be more government stimulus coming.

Paid leave for small/mid-sized business employees, including part-time workers and self-employed. Eligible employees can receive up to 80 hours of paid sick leave and expanded paid child care leave for 12 weeks when employees’ children’s schools are closed or child care providers are unavailable. Business must have less than 500 employees (52% of workforce). This is done via refundable payroll tax credits. DOL press release. NYT article.

The act provided paid sick leave and expanded family and medical leave for COVID-19 related reasons and created the refundable paid sick leave credit and the paid child-care leave credit for eligible employers. Eligible employers are businesses and tax-exempt organizations with fewer than 500 employees that are required to provide emergency paid sick leave and emergency paid family and medical leave under the act. Eligible employers will be able to claim these credits based on qualifying leave they provide between the effective date and Dec. 31, 2020. Equivalent credits are available to self-employed individuals based on similar circumstances.

Unemployment insurance. Many states are expanding their eligibility rules for unemployment benefits. You might be eligible if you have to stay at home to care for children. You may not have to officially quit your current job (i.e. your employer temporarily shuts down). You might be eligible if you are under quarantine or have to take care of someone under quarantine or infected. Please visit the Department of Labor for your specific state. CNBC article. DOL.gov/coronavirus.

Mortgage payments. Contact your mortgage or home-equity loan servicer directly to ask about mortgage payment deferral options. Fannie and Freddie Mac have instructed their loan servicers to suspend mortgage payments for up to 12 months if borrowers suffer hardship. In New York, the impacted can defer mortgage payments from any servicer for 90 days. Bank of America is allowing deferrals on a case-by-case basis, with the waived payments being added to the end of their loan term. CNBC article.

Student loans. President Trump announced that federally-held student loans would be set to 0% interest for at least 60 days in addition to being able to request forbearance for 60 days, but there has been a lot of difficulty in actually making the requests with loan servicers as they have cut back on call center hours. There will also be an automatic suspension of payments for any borrower more than 31 days delinquent as of March 13, 2020, or who becomes more than 31 days delinquent. Press release. ED.gov. Studentaid.gov.

Credit cards and auto loans. Chase, Citibank, American Express, US Bank, Discover, Ally Bank, and Apple have all announced some sort of accommodation for coronavirus. The offers are often vague, but it can’t hurt to call and ask for details. For example, Discover says it won’t report late payment to credit bureaus, but what about late fees and penalty APRs? Chase says they might waive fees or extend payment due dates, but only on a case-by-case basis. Apple (if approved) will allow you to skip your March credit card payment without incurring interest charges. Ally Bank will allow deferral of auto loan payments for 120 days, but finance charges will still accrue. Some of these are rather lame, like offering up credit line increases that were always available anyway.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

5% Cash Back Cards: Grocery Stores, Gas Stations, and Wholesale Clubs – April thru June 2020

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

5percentbackActivation open for 2nd Quarter 2020. The credit cards below offer up to 5% cash back on specific categories that rotate each quarter. It takes a little extra attention, but it can add up to hundreds of dollars in additional rewards per year without changing your spending habits. You can also buy gift cards with the 5% back now but spend the gift cards later. New cardmembers may also get an upfront sign-up bonus.

Chase Freedom VisaChase Freedom – $150 Bonus

From April 1st through June 30th, 2020 you can earn 5% cash back on up to $1,500 spent in the following categories:

  • Grocery stores. Walmart and Target are not included.
  • Fitness club and gym memberships.

From January 1st through March 31st, 2020 you can earn 5% cash back on up to $1,500 spent in the following categories:

  • Gas Stations
  • Internet, Cable & Phone Services. Internet, cable, satellite television and radio, cellular, wireless data, and landline services will qualify.
  • Select Streaming Services. The full list is Disney+, Netflix, Hulu, Sling, Vudu, Fubo TV, Apple Music, SiriusXM, Pandora, Spotify, YouTube TV, and ESPN+.

Enroll each quarter at ChaseBonus.com. As long as you activate by the end of the quarter the rewards are retroactive. All other purchases earn 1% back, with no tiers or expiration of rewards. Technically, you earn Ultimate Rewards points which can also be converted to airline miles or hotel points instead of cash if you have a Chase Sapphire Preferred or Chase Sapphire Reserve card. Currently, the Chase Freedom card is offering $150 bonus cash back if you sign up and make $500 in purchases in your first three months. No annual fee.

Discover it 14 ImageDiscover it Card

From April 1st through June 30th, 2020 you can earn 5% cash back on up to $1,500 spent in the following categories:

  • Gas stations (stand-alone).
  • Uber and Lyft.
  • Wholesale Clubs. Sam’s Club and BJ’s accept Discover.

From January 1st through March 31st, 2020 you can earn 5% cash back on up to $1,500 spent in the following categories:

  • Grocery Stores. Does NOT include Walmart nor Target.
  • Walgreens
  • CVS

Enroll after logging into your online account (look on the right-hand side). 5% rewards won’t apply until after you activate your rewards, so it is best to activate now before you forget. No annual fee.

New cardmember bonus details. If you are a new applicant and sign up via my Discover Card referral link, you will get a $50 Cashback Bonus after your first purchase within 3 months of being approved. You will also get Cashback Match for an entire year – a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically. During those 12 months, your $50 Cashback Bonus becomes $100, your 5% cash back rewards becomes 10% cash back, and your 1% cash back rewards become 2% cash back. You can verify this on the application by clicking on “See rates, rewards and other info” and searching for “cashback match” and “statement credit offer”:

Cashback Match: No purchase minimums. After the first 12 consecutive billing periods that your new account is open, we will match all of the cash back rewards you’ve earned and apply them to your account in the following one or two billing periods. If your account is closed or no longer in the cash back reward program at the time we calculate your potential award, your cash back will not be matched. You’ve earned cash back rewards when they have posted to your account by the end of the 12th consecutive billing period. This promotional offer may not be offered in the future. This exclusive offer is available only to new cardmembers.

TERMS OF STATEMENT CREDIT OFFER: Get a $50 Statement Credit after you make your first purchase within 3 months of being approved. Promotional award will be applied within 8 weeks. The promotional award is in addition to the Cashback Bonus earned on all purchases.

ABOC Platinum Rewards Card – $150 Statement Credit Offer

From April 1st through June 30th, 2020 you can earn 5% cash back on up to $1,500 spent in the following categories:

  • Dining & Transportation. Eligible MCC code categories include Groceries, Restaurants, Fast Food, Gas, Tolls, Mass Transit, and Ride Share.

You must register each quarter at ABOCRewards.com or in your online account. Currently, the ABOC Platinum Rewards Mastercard is offering a $150 statement credit if you sign up and make $1,200 in purchases in your first 90 days. No foreign transaction fees. No annual fee.

U.S. Bank Cash+ Visa Signature Card. You get to choose the two 5% cash back categories every quarter, out of a preset selection of specific categories:

  • Fast Food
  • Cell Phone Providers
  • Home Utilities
  • Ground Transportation
  • Select Clothing Stores
  • Electronics Stores
  • Car Rentals
  • Gyms/Fitness Centers
  • Sporting Goods Stores
  • Department Stores
  • Furniture Stores
  • Movie Theaters
  • TV, Internet, and Streaming Services

Unfortunately, you can’t pick a broad category like gas stations, restaurants, or grocery stores. Make sure to choose your categories each quarter, even if you want them to stay the same. If you do not choose your categories, all purchases revert to only earning 1% cash back for that quarter.

Currently, the U.S. Bank Cash+ Visa card is offering $150 bonus cash back if you sign up and make $500 in eligible net purchases in your first 90 days. No annual fee.

American Express Blue Cash Preferred Card. This card earns 6% cash back at US supermarkets all year long (on up to $6,000 per year) and. 3% cash back at US gas stations. New: 3% cash back on transit and 6% cash back on Netflix/Spotify/Hulu. I use this card all year long for groceries, and then in December use up the $6k annual limit on gift cards bought in the supermarket aisle. New cardholders are also eligible for a $250 statement credit after $1,000 in purchases within the first 3 months. $95 annual fee. See details in link.

Amazon Prime Rewards Card. Earn 5% back at Amazon.com and Whole Foods all year long. Prime membership required. 2% cash back at restaurants, gas stations, and drugstores (yawn… see below). New cardholder bonus varies by person. No annual fee.

Citi Dividend Card. This card is no longer available to new applicants, but if you still have the grandfathered card you can view and activate your quarterly 5% category here. Limit of $300 cash back for the calendar year.

Don’t settle for the “1% on everything else” that these cards offer. Get 2% cash back or higher. Check out the card-specific reviews for details.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Chase Ink Business Preferred Card Review: 100,000 Point Bonus worth $1,250 Towards Travel

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

inkpreferred2018Updated with new 100k offer. Business credit cards can be used by self-employed or side-gig workers with eBay, Amazon, Etsy, Uber/Lyft, Adsense or other 1099 income that make you a sole proprietorship. The Ink Business Preferred(R) Card has a new 100,000 point bonus for new cardholders, worth at least $1,250 towards travel when redeemed through Chase and potentially more via points transfer to Hyatt hotels, etc. This is their premium travel card with 3X points on travel purchases and the ability to transfer points to airline miles or redeem at a 25% premium through their travel portal. Here are the details:

  • 100,000 bonus points after you spend $15,000 on purchases in the first 3 months. That’s worth $1,250 toward any airfare or hotels booked through the Chase Ultimate Rewards portal (works like Expedia or Travelocity).
  • 3X points per $1 on the first $150,000 spent on travel, shipping purchases, internet/cable/phone services, and advertising purchases with social media sites and search engines.
  • 1X point per $1 on all other purchases with no limit.
  • Ability to transfer points directly to airline mile partners.
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards.
  • No foreign transaction fees.
  • Free additional cards for employees.
  • Primary rental car coverage when renting for business purposes.
  • $95 annual fee.

Ultimate Rewards points. This card offers a 25% bonus on travel bookings made through the Ultimate Rewards travel website. 100,000 Ultimate Rewards = $1,250 in travel. Similar to Expedia or Travelocity, you can book flights on most major airlines, hotel chains, and car rental companies. This makes it much more flexible to spend your points. You can even buy something more expensive and pay the difference.

If you have other Chase cards that earn Ultimate Rewards points like the Ink Business Cash or Ink Business Unlimited, you can transfer points into this card account and take advantage of the 25% premium. However, if you happen to have the Chase Sapphire Reserve card, you could transfer your points over to that card and grab the better 50% premium.

You could think of this card as the small business version of the Chase Sapphire Preferred card.

Prefer airline and/or hotel points? This card also allows you to transfer Ultimate Rewards points into hotel and/or airline miles. Transfer to United Airlines, British Airways, Singapore Airlines, Korean Air, Southwest, Hyatt Hotels, IHG Hotels, and Marriott Hotels at a ratio of 1 Ultimate Rewards point = 1 mile/hotel point. Miles redemption continue to offer great value for savvy travelers, especially for last-minute travel and business class seats.

For example, I could definitely get more than $1,250 in value by converting into 100,000 World of Hyatt points.

Many people aren’t aware of the fact that they can apply for business credit cards, even if they are not a corporation or LLC. The business type is called a sole proprietorship, and these days many people are full-time or part-time consultants, freelancers, eBay/Amazon/Etsy sellers, Uber/Lyft drivers, or other one-person business owners. This is the simplest business entity, but it is fully legit and recognized by the IRS. On a business credit card application, you should use your own legal name as the business name, and your Social Security Number as the Tax ID.

Note that Chase has an unofficial rule that they will most likely deny approval on new credit cards if you have 5 or more new credit cards from any issuer on your credit report within the past 2 years (aka the 5/24 rule). This rule is designed to discourage folks that apply for high numbers of sign-up bonuses. This rule applies on a per-person basis, so in our household one applies to Chase while the other applies at other card issuers.

The good news is that small business cards from Chase don’t show up on personal credit reports, so getting this card in itself won’t affect your future 5/24 eligibility. This it makes a “free” application if you are otherwise eligible.

Bottom line. The Chase Ink Business Preferred Card has a new, bigger 100,000 point sign-up bonus worth at least $1,250 towards travel, along with premium travel features included with the $95 annual fee. You can transfer Ultimate Rewards points from other Chase cards to increase your value. If you’d rather have a more simple cash-focused rewards structure and no annual fee, be sure to compare with the Ink Business Unlimited and Ink Business Cash.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.