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CNN Underscored reviews financial products such as credit cards and bank accounts based on their overall value. We may receive a commission through the LendingTree Affiliate Network when a card is applied for and approved, but our reporting is always independent and objective.
When you think about free travel, you’re likely to quickly turn to credit cards that specialize in travel rewards. It’s a great strategy most of the time, but you might actually be surprised to hear a little secret: cash-back credit cards can even earn you free travel.
However, you should think strategically about which cash back credit card to consider. Combining your credit cards can actually turn cash back into points and frequent flyer travel rewards to help you book your next vacation even faster.
Generally speaking, there are two types of cash back credit cards. There are cards that earn cash back only, and cards that allow you to earn rewards that are part of a larger travel rewards program. To get the most out of your free travel, we’ll focus on the latter to show how cards marketed as cashback can actually get you a plane ticket or hotel room for almost nothing. .
Here are the best cashback credit cards that can turn rewards into travel:
CNN Underscored chose the Citi Double Cash Card as the best overall cash back credit card. But did you know that the points you accumulate with your card can give you more benefits than just cash back? 1%) when you pay. All annual membership fees are free.
As of March 28, 2022, Citi Double Cash Cards can now earn cash back in the form of thank you points normally reserved for premium cards such as Citi Premier. This new earning feature of the Citi Double Cash Card allows points to be transferred to some selected partner programs, although the transfer rate is not very favorable. A premium Citi ThankYou card such as Premier is required to maximize your points and open doors to all partner programs.
Assuming you spend $12,000 a year, you’ll get 24,000 Citi ThankYou Rewards if you only use the Citi Double Cash Card. If you’re looking for an easy-to-use program for domestic travel, you can transfer your points to JetBlue. JetBlue’s TrueBlue program is worth about 1.3 cents per point, which translates to about $312 on JetBlue flights.
Read our full review of the Citi Double Cash Card.
Chase Freedom Flex is a great cash back credit card that allows you to receive 5% cash back in a quarterly rotation of bonus categories (up to $1,500 on total purchases). If you make the most of your quarterly bonus, you can earn an additional $75 each quarter.
However, you will earn Chase Ultimate Rewards points instead of cash back. If you have a premium Chase Ultimate Rewards earning card, such as the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, you can transfer points from one account to another. The same maximum $75 you can earn in cash back each quarter is equivalent to 7,500 points if you choose to use it for travel.
The advantage of using the points earned with the Chase Freedom Flex for travel is its versatility. This allows you to redeem rewards for travel by transferring to many of our partner airlines and hotels, or by redeeming directly from Chase’s travel portal (if you have Sapphire, you’ll receive his 25% bonus on points) You will be able to Priority or 50% bonus if you have a Sapphire Reserve).
Frequent flyer website The Points Guy rates Chase Ultimate Rewards points at 2 cents per card when transferring to partner loyalty programs.
For example, maxing out the Chase Freedom Flex card’s quarterly rotation bonus will earn you a total of 30,000 Chase Ultimate Reward points during the calendar year instead of $300 in cash back. You can then transfer your Ultimate Rewards points to partner programs such as World of Hyatt, United, JetBlue and British Airways on a 1:1 ratio. For example, transfer those points to Hyatt and he gets two free nights in San Diego. San Diego can easily exceed $300 a night in the summer. Or, if you’re looking for something more exotic, you can use his 30,000 points to redeem a free night in the Maldives.
Transferring points between accounts is also very easy. From the Ultimate Rewards points combination page, you can select your cash back card in the first column and the best Ultimate Rewards earning credit card in the second column. Then you can decide exactly how many points you want to transfer from one account to another. Best of all, the transfer of points is immediate.
Alternatively, if you don’t want to worry about rotating quarterly bonuses, consider the Chase Freedom Unlimited card instead. The card works in a similar way to Chase Freedom Flex, where the cashback you earn is actually in the form of Chase Ultimate Reward points, but the point earning structure is significantly different and more simplified.
Get 1.5% cash back on most purchases with this card. Like Chase Freedom Flex, you’ll also earn 5% cash back on travel purchased through Chase Ultimate Rewards, and 3% cash back on drugstore purchases and restaurant dining, including takeout and eligible delivery services .
Let’s say you spend $3,000 quarterly, but you make purchases that don’t fit into any of the bonus categories. Then you will get 1.5% cash back. This can be 4,500 Chase Ultimate Rewards points each quarter, or 18,000 points for a full calendar year. These points can be transferred to United on a 1:1 ratio, for example. Many of United’s short-haul flights are only 5,000 miles one way, so this card alone would easily earn him points on all three one-way flights.
To truly maximize the points you earn, consider combining both Chase Freedom Flex and Chase Freedom Unlimited with Chase Sapphire Preferred for the ultimate Chase Trifecta. This allows you to use the card that earns you the most points per purchase, ultimately helping to strengthen your Ultimate Rewards account.
The Citi Custom Cash Card is another Citi credit card that allows you to earn cash back, but in the form of ThankYou points, so the rewards can be used for free travel.
Use this card and get 5% cash back (5x points when using ThankYou points for travel). Earn up to $500 in purchases (after which he gets 1% cash back) in the one eligible category he spends the most on each month. Categories covered include gas stations, restaurants, grocery stores, some travel, some transportation, some streaming services, drug stores, hardware stores, fitness clubs, live entertainment, and other general household items. includes expenses.
If you want to maximize your earnings with this card, we recommend allocating your spending to one category each month (those that don’t fall into the bonus categories of your other credit cards) to get the most out of up to $500 To do. This allows you to earn up to $25 in cash back per month. This equates to $300 in cashback or 30,000 of his ThankYou points in one year.
With 30,000 points, you can transfer them to Wyndham Rewards to book a hotel reservation, for example. Wyndham’s fixed award chart allows 30,000 points for two nights at many properties worldwide. Or you could use your points to book his two-night stay in a one-bedroom condo through Wyndham’s Vacasa rental management program. Based on personal experience, this could easily save him $1,000 on a two-night home rental.
For a limited time only, Citi Custom Cash Card offers a sign-up bonus of $200 cash back when you spend $1,500 within the first three months of account opening.
As with Chase Ultimate Rewards, one of the best ways to maximize your Citi ThankYou points is to have multiple Citi credit cards in your wallet. Known as Citi Quartet, this service allows you to earn the most points every time you swipe your credit card.
Similar to Chase and Citi, Capital One is another program that allows you to earn cashback, but instead redeem rewards for free travel. The Capital One SavorOne Rewards credit card is a great cash back credit card that gives you 3% cash back on dining, entertainment, popular streaming services and grocery stores. There is no upper limit.
Convert your earnings earned with this no annual fee card into a Capital One Venture, Capital One VentureOne or Capital One Venture X card on a 1:1 ratio. These are the more premium cards within the Capital One portfolio that allow you to transfer miles to our partner travel programs.
According to frequent flyer website The Points Guy, a Capital One mile is worth 1.85 cents per mile, meaning a 3% bonus category purchase will give you a 5% or more return on your trip. One easy and cost-effective way to redeem free travel is to transfer Capital One Miles to British Airways Avios. These miles can be used on our partner American Airlines.
To convert your cash back into Capital One Miles, go to Capital One[Rewards]in the tab[Share My Rewards]You should go to functions.
The short answer is yes, as long as you plan to travel in the future. If you’re looking at how best to maximize your credit card rewards, turning your cash into travel rewards will likely help you reach that goal. These programs also include a wide range of airline and hotel transfer partners, so the opportunities for your next vacation are endless. Of course, this may involve having multiple credit cards in your wallet, but strategically thinking about which cards you use for every purchase can get you traveling the world in no time. .
Looking for a new credit card but need a cash back card? Check out CNN Underscored’s list. Best Credit Cards of 2022.
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