Originally Posted by
ero2
I’ve read and read, and it seems like the chase sapphire is the way to go, but mock booking rewards it looks like 1, maybe 1.25%, aren’t there cards that pay more?
its revered as the best travel card on the market; but what am I missing if cash back can be earned at a higher rate?
thanks again all, for the insight!
Don't be distracted by the number of points, or the redemption value per point. Instead, look at the redemption value per dollar spent. If you are looking at Sapphire Preferred the nominal redemption value is $0.0125 each (for travel), but you will earn 2 points per dollar in the travel and dining categories. This means you will earn 1.25% on some spending, 2.50% on some. You need to calculate a weighted average to see if you will net higher than 2%. If not, Capital One Venture or Citi Double Cash may be better for you.
You said you used to run $150K annually through the SPG Amex. What were you spending that money on? Based on your travel patterns (driving, redeeming points for hotels), your travel spend may be minimal. If you aren't spending a lot on restaurants, then you may just be earning 1 point per dollar spent on the Chase Sapphire Preferred, which isn't that helpful to you.
Also, how many nights a year are you spending in hotels?
I would consider these cards:
Hilton Surpass - You earn 6x Hilton points on gas, groceries and restaurants (seems like you may spend a lot on gas) and 14x on Hilton spending. Comes with Hilton Gold, and with your spending, you will earn a free night and Diamond status. $95 fee
Capital One Venture - 2x "miles" on all spending. You spend 150K, you get 300K "miles" that can be redeemed for $3,000 in travel spend (hotels, airfare, car rentals, etc) - $95 fee
Citi Double Cash - 1% cashback for purchases, 1% cashback when you pay off your balance - no fee
Discover It Miles - 3% cash back (in the form of travel reimbursement) on all spending in the first year, 1.5% cash back in second years - no fee
I would also maybe consider the Amex Bonvoy Brilliant, mainly because your spending means you would be Platinum status and earn about 300,000 Marriott points annually (which could still get you a lot of free nights)