What is the Best Travel Rewards Credit Card?
- Trevor Lawrence
- Apr 10, 2023
- 9 min read
Updated: Jul 16
Travel Rewards Credit Cards: Are They Worth it for Families?
If you’ve ever dreamed of flying your family to Europe for $12 thanks to credit card points, you’ve probably seen a shiny ad or two about travel rewards cards. Here’s the truth: points are great if you know how to use them – but they’re not free money.
Most of us don’t have the ability to spend $50K on our credit cards and reap the rewards, not to mention the schedule flexibility to take advantage of flight deals.
So, what’s a WS&T devotee to do?
TRAVEL CREDIT CARD INDEX
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The Basics of Travel Credit Cards
Earning Points: You earn points by spending money, and those points can be redeemed for travel perks.
Annual Fees: Many travel cards have hefty annual fees, but the perks (e.g., travel credits, lounge access) can offset the cost.
Best for Regular Travelers: If your family travels often, the rewards can add up.
WS&T Tip: Check out folks like The Points Guy and John Liang to do your own research. If you tend to stick to domestic or European travel, you may want to pick an airline and apply specifically for their credit card (taking advantage of the signing bonus) and then rack up both points and status on that particular airline.
Using Points Like a Pro
Use points for flights or hotel stays where you’ll get the most value.
Look for signup bonuses (e.g., spend $4,000 in 3 months and get 60,000 points).
Hit the spending quota within the first few months to unlock the signup bonus points. At the time of writing, you’ll need to spend $4,000 in the first three months. I put some of my big bills on the card, like our family’s health insurance (Gee thanks, USA), so it’s pretty easy to hit that spend quota.
Transfer points strategically—some cards partner with airlines or hotels for better redemption rates.
Another huge plus: built-in travel insurance and car rental insurance, so you can skip paying extra for those. However, be sure to read the fine print. For instance, if you rely on the card’s car rental coverage, you have to decline the rental agency’s insurance. You might need to pay out of pocket for damages initially and be reimbursed afterward, so understand the policy thoroughly to avoid surprises.
It's also great to have a travel credit card that doesn't charge transaction fees while you're abroad.
Finally, My credit card company is also my first line of defense for tricky overcharges or any issues with billing. They'll argue your case with the vendor so you don't have to.
WS&T Tip: It's key to pay off your balance in full each month. Those points aren’t worth sky-high interest fees.
It takes a bit of digging and research to unlock all the card’s benefits, but the bottom line is simple: spend money, earn points, redeem for travel. On average, I manage to get a couple of free flights or car rentals every year with my Sapphire points—which I definitely consider worth it!
So, what is the best travel rewards credit card?
There are so many to choose from! Our top pick used to be the Chase Sapphire Reserve, hands down. But beginning October 26, 2025, the card is undergoing a major "refresh," which we believe turns it more into a luxury/lifestyle card than a workhorse, all-purpose travel rewards credit card.
If you're reading this while Chase is offering an eye-popping 100,000 point + $500 travel credit sign-up bonus, it's worth it to snag the card (at least for a year, then consider a downgrade based on how much you use the other perks). If the offer has passed or you are already a Chase Sapphire Reserve cardholder, closely consider the offered benefits to decide if Chase is right for you. If not, there are several strong competitors worth your consideration.
Chase Sapphire Reserve Perks and Benefits
I've been a longtime Chase Sapphire Reserve devotee, but the jury's out on how beneficial I'll find the new perk structure... I'll update this article after the October 26, 2025 makeover date with my thoughts on the new perk structure. My plan right now is to try it for a year and really see how much I use the perks, then decide if I want to keep it or downgrade to the Preferred. They offer a pro-rated refund of the annual fee if you do decide to downgrade.
Here is the new perk structure, as of October 26, 2025:
Annual Fee: $795
Authorized User Fee: $195
Annual Travel Credit: $300
This credit automatically applies to your account each year, refunding travel-related expenses until you reach $300. I usually see these credits within about a week—which is a nice perk! Effectively, this brings the card’s net annual fee closer to $495, though that $795 upfront hit hurts.
Travel and Auto Insurance (read the fine print!)
TSA Pre-Check or Global Entry Fee Reimbursement
Access to Sapphire Lounges and Priority Pass Lounges
Complimentary Lyft Pink (1 Year; Activation Required) + $10 per month in credit - available once you link your card in the app
Complimentary DoorDash DashPass (1 Year; Activation Required) + $10 per month in credit - available once you link your card in the app
$300 Annual Dining Credit (up to $150 in statement credits biannually) for dining at restaurants that are part of Sapphire Reserve Exclusive Tables (through OpenTable or on the website)
$500 Credit for stays with The Edit: a handpicked collection of 1,000+ (expensive!) hotels and resorts (up to $250 in statement credits biannually)
Complimentary IHG One Rewards Platinum Elite status through December 31, 2027 (activation required)
Complimentary subscription to Apple TV+ and Apple Music (activation required)
$300 StubHub and viagogo credit (up to $150 in statement credits biannually)
$10 per month in Peloton subscription credit
If you go through all of that and aren't exhausted by the complexity of maximizing the perks, the next question is how much you actually use the services they partner with. I use the Pre-Check refund, the lounge access, travel and rented auto insurance, DoorDash credits + Dash Pass, and Lyft credits + Lyft Pink. It's unlikely I'm going to use the Edit credits, Peloton, or StubHub. Everyone has to do their own math to see if the big fee is worth it.
Then there's the point-earning structure, which is undergoing a major overhaul, which feels like a mixed bag. Under the new plan:
Hotels booked through Chase Travel: 8x points per dollar spent
Rental cars booked through Chase Travel: 8x
Flights booked through Chase Travel: 8x
Flights booked directly with airlines: 4x
Hotels booked directly: 4x
All other travel (cruises, vacation rentals, transit): 1x
Dining purchases: 3x
Eligible Lyft rides: 5x
Eligible Peloton purchases: 10x
They're getting rid of a 1.5x point value for Chase Travel bookings, and instead will be offering a "Point Boost" where you can redeem points for up to 2x their value... but only on selected offerings of flights and hotels. It remains to be seen how enticing these offers will be.
You can still transfer points at a 1:1 ratio to a range of travel partners, which makes it easy to turn everyday spending into free or discounted flights, hotel stays, and more.
Chase Sapphire Preferred Perks and Benefits
Chase also offers the Chase Sapphire Preferred for a much cheaper annual fee ($95 vs. $795). It has a different perk structure than the reserve, but it's much more affordable and may be a better fit for you and your family. At the time of writing, the Preferred is also offering a 100,000 point sign up bonus, so check it out... it is a really solid choice!
See below for a perk breakdown.
Annual Fee: $95
Authorized User Fee: $0
Annual Hotel Credit: $50 on hotel bookings made through Chase Travel (automatically applied after purchase)
Annual Anniversary 10% Points Bonus: Each year you'll get 10% of the points you've spent over the past year (i.e. if you've spent 50K points, you'll get a bonus of 5K points)
Complimentary DoorDash DashPass (1 Year; Activation Required) + $10 per month in credit - available once you link your card in the app
Major cons vs. the Reserve: No lounge access, no TSA Precheck/Global entry reimbursement, no travel credit.
Then there's the point-earning structure, which is undergoing a major overhaul, which feels like a mixed bag. Under the new plan:
Hotels booked through Chase Travel: 5x points per dollar spent
Rental cars booked through Chase Travel: 5x
Flights booked through Chase Travel: 5x
Flights booked directly with airlines: 2x
Hotels booked directly: 2x
Eligible Lyft rides: 5x
Select Streaming Services: 3x
All other purchases: 1x
They're also offering a "Point Boost" where you can redeem points for up to 1.75x their value... but only on selected offerings of flights and hotels. It remains to be seen how enticing these offers will be.
You can still transfer points at a 1:1 ratio to a range of travel partners, which makes it easy to turn everyday spending into free or discounted flights, hotel stays, and more.
If you'd like to go for the Chase Sapphire Reserve or Preferred, consider applying via my referral link. For a limited time, you can get 100,000 bonus points if you get the Chase Sapphire Preferred card. You'll always earn 60,000 bonus points with the Chase Sapphire® Reserve card. I can be rewarded if you apply here and are approved for the card.
The Other Guys: Amex Platinum and Capital One Venture X Rewards
There are strong arguments to be made for both of these cards, so here's an overview of the perks and differences between them.
Amex Platinum Perks and Benefits
With a hefty price tag (though not as high as the new Sapphire Reserve, so sad), this is more of a luxury travel card and it takes some work to maximize the (many!) perks.
Annual Fee: $695
Authorized User Fee: $195 per person for lounge access (up to 3 authorized users at that rate)
Airline Fee Credit: Up to $200 per calendar year (for incidental fees like checked bags or seat selection on one selected airline)
Hotel Credit: $200 annually on prepaid Fine Hotels + Resorts or The Hotel Collection bookings made through AmexTravel.com
Uber Cash: Up to $200 annually ($15/month, plus a $20 bonus in December) – must add card to Uber app
Digital Entertainment Credit: $240/year ($20/month) toward eligible subscriptions like Hulu, Disney+, Peacock, and more
Saks Fifth Avenue Credit: $100/year ($50 every 6 months)
CLEAR® Plus Credit: Up to $189/year for CLEAR membership
Global Entry or TSA PreCheck Credit: Up to $100 every 4 years
Equinox Credit: Up to $300/year – for eligible Equinox memberships
Walmart+ Credit: Monthly credit to cover full cost of Walmart+ membership (includes free delivery and Paramount+)
Priority Pass Lounge Access: Included (enrollment required)
Centurion Lounge Access: Included – this is a huge perk if you fly through airports that have them
Hilton Honors Gold Status: Included (enrollment required)
Marriott Bonvoy Gold Status: Included (enrollment required)
Major cons vs. other cards: High annual fee, credits are spread out monthly and require activation/enrollment, no flat-rate earning for everyday purchases.
When it comes to points:
Flights booked through Amex Travel: 5x points
Flights booked directly with airlines: 5x
Prepaid hotels booked through Amex Travel: 5x
All other purchases: 1x
You can also transfer points to over 20 travel partners at a 1:1 ratio — including Delta, British Airways, and Singapore Airlines.
Capital One Venture X Perks and Benefits
The Capital One Venture X is an up-and-comer, and a lot of people are saying they really love the card's benefits and midrange price tag.
Annual Fee: $395
Authorized User Fee: $0 – and they get their own lounge access!
Annual Travel Credit: $300 per year for bookings through Capital One Travel (applies automatically, but you've got to go through the portal)
Anniversary Bonus: 10,000 miles each year (equal to $100+ toward travel)
Priority Pass Lounge Access: Included for you and authorized users
Capital One Lounges: Access included (currently in select airports, with more on the way)
Hertz President’s Circle Status: Complimentary
Major pros: Lower annual fee than comparable cards, super easy-to-use travel credit, free authorized users with full perks
Major cons: Travel credit must be used through Capital One Travel portal (not direct bookings)
Now for the point structure:
Hotels & rental cars through Capital One Travel: 10x miles
Flights through Capital One Travel: 5x
All other purchases: 2x miles – every time, no categories to track
Points can be transferred to a growing list of airline and hotel partners (including Air Canada Aeroplan, Turkish Airlines, and Singapore KrisFlyer), or redeemed for any travel purchase at a flat 1 cent per mile — so 50,000 miles = $500 toward travel.
Real Talk: Manage Your Expectations
If you’re not a frequent traveler or high spender, don’t stress about maximizing points. A good cashback card might work better for your family’s needs.
ATM Fee Reimbursements: A Budget Traveler’s Secret Weapon
One of my favorite travel hacks is using a bank account or debit card that refunds your ATM fees—no matter where in the world you are. There’s nothing worse than realizing you’ve just shelled out half the cost of your morning flat white simply for the privilege of withdrawing your own money.
A few big players in this space are:
Charles Schwab Bank High Yield Investor Checking: Unlimited worldwide ATM fee reimbursements.
Fidelity Cash Management Account: Also reimburses ATM fees globally.
Some credit unions or online banks occasionally offer fee reimbursements (though terms may vary by month or location).
Keep an eye on any monthly reimbursement caps or minimum balance requirements, and note that foreign transaction fees could still apply if you’re using a standard debit or credit card (though many of these accounts waive those, too).
Dodging those “gotcha” ATM fees can free up a surprising amount of extra cash.
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