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Advertiser Disclosure

Our promise to you.

Minority Mindset, LLC is an independent, advertising-supported publisher. We are not an investment advisor. Always do your own due diligence and never blindly listen to a random article on the internet. We do our best to provide financial education with our free videos, articles, tools, and other self-help content. But these are for informational purposes only, they’re not investment advice.

Minority Mindset does not and cannot guarantee the accuracy or applicability of any information regarding your individual circumstances. The examples we provide are hypothetical and we encourage you to get advice from a qualified professional regarding specific investment, tax, legal, and financial issues. Previous market performance does not guarantee future performance.

We want everyone to be able to make educated financial decisions. We do not feature every company or financial product available. However, we’re proud of the financial education and guidance that we provide at no charge.

We’re paid by our brand partners and advertisers. This may influence which products we mention, review, and where they appear on our site. But it does not affect our recommendations or advice.

See more from Credit Cards

The Best Travel Credit Cards

November 30, 2019 by Minority Mindset Team

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Minority Mindset Team November 30, 2019

travel credit card

Disclaimer

We only endorse products that we truly believe in. Some of the links below may earn us some extra guac at no additional cost to you. Please pass the chips & thank you for feeding our habit.

Advertiser disclosure.

[disclaimer]

Do you love traveling…or are forced to travel a lot? If you said yes to either, it pays to have a credit card that pays you with travel rewards. We will be comparing our two favorite travel rewards credit cards:

  1. Chase Sapphire Preferred
  2. The Platinum Card by American Express.

Chase Sapphire Preferred gives you everything you need with an awesome early spend bonus. The Platinum Card is the card for higher spenders looking for luxury.

Let’s start with Chase Sapphire Preferred.

Annual Fees

The annual membership fee is $95 which helps pay for the many perks you get.

Early Spend Bonus

If you spend $4,000 in the first 3-months of getting your card, you will be rewarded with 60,000 bonus points! That’s $750 worth of airfare or hotels when you book a trip through Chase Ultimate Rewards.

Your early spend bonus makes up for the annual fee by itself.

Points

You get 1-point for every $1 you spend with your Chase Sapphire Preferred Card. But you get 2x the points on travel (flights, hotels, trains, taxis, etc.) and dining.

When you redeem your point for airfare, hotels, cars, or cruises through Chase Ultimate Rewards, you get 25% more value on your points. That’s why your 60,000 early spend bonus points are worth $750 of travel costs.

Perks

  • $0 Foreign transaction frees.
  • Auto rental collision damage waiver. When you rent a car with this card, you automatically get primary insurance, so if something happens, you don’t need to file a claim with your personal insurance. This is one of the few cards that offer this.
  • Trip cancellation / interruption insurance. If you get sick and can’t go on a trip you bought through this card, Chase will refund you up to $20,000.
  • Baggage delay insurance. If your checked in bags are delayed by your airline, Chase will reimburse you for the cost of necessary personal and business items while you wait for your luggage.
  • Zero Liability Protection. If your card is stolen, you aren’t responsible for unauthorized purchases.

Now, let’s move to The Platinum Card by American Express for frequent travelers looking for luxury.

american express platinum card_compressed

Annual Fees

The annual membership fee for the Platinum Card from American Express is $550. While this might seem high, take a look at some of the bonuses and perks. If you travel a lot and are looking for luxury, this annual fee is worth it.

Early Spend Bonus

If you spend $5,000 in the first 3-months of getting your card, you will be rewarded with 60,000 points. That’s $600 you can put towards travel. But that’s just the beginning. Wait until you see the perks.

Points

You get 1-point for every $1 you spend with your American Express Platinum card. But you get 5x points on flights booked directly with an airline or through American Express Travel. And you get 5x points on prepaid hotels booked through American Express Travel.

Perks

This is where you get your value. Take a look at this…

  • Airport lounge access. With this card, you get access to 1,200 lounges in 500+ airports across 130+ countries. Now you don’t have to worry about eating before you get to the airport. Get to the airport, relax in the lounge, and take advantage of all the free food and drinks. If you travel at least 6 times a year, this will make up for the annual fee.
  • $100 to shop at Saks Fifth Avenue or their online store every year. No minimum spend requirement. Shop at Saks and get a statement credit up to $100 every year.
  • Uber VIP status. You’re automatically upgraded to Uber VIP status, you get $15 in Uber credits every month, plus a $20 Uber bonus for December. That’s up to $200 in Uber savings.
  • $200 Airline fee credit. Every year, you get to pick an airline and receive up to $200 in statement credits for incidental fees like checked in bags and in-flight refreshments with that airline.
  • $100 Hotel credit. If you book The Hotel Collection with American Express Travel, you can qualify for $100 in hotel credit to spend on qualifying dining, spa, and resort activities.
  • Global Entry or TSA Pre-Check Credit. Get a $100 credit for Global Entry every 4 years. Or get an $85 credit for TSA Pre-Check every 4.5 years when you pay the application fee with this card.
  • Hilton Honors Gold Status. With this card, you’re automatically upgraded to Hilton Honors Gold Status. That means you get access to better rooms and perks when you stay at a Hilton.
  • Marriott Bonvoy Gold Elite Status. With this card, you’re upgraded to Marriott Bonvoy Gold Elite Status. That means you get access to better rooms and perks when you stay at a Marriott.

Final words

If you travel often and are looking for a more luxurious experience, The American Express Platinum card is for you. You will quickly get your money’s worth from the $550 annual fee. But if you are just looking for a way to earn some free trips without shelling out a ton of cash, then Chase Sapphire Preferred is the card for you. The early spend bonus will pay for itself, and if you use the card correctly, you’ll be able to fund a lot of free travel.

Minority Mindset has partnered with CardRatings for our coverage of credit card products. Minority Mindset and CardRatings may receive a commission from card issuers.

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Written by Minority Mindset Team.

The Minority Mindset has nothing to do with the way you look, your ethnicity, or your skin color. It’s a mindset. #RethinkRich

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Advertiser Disclosure

Our promise to you.

Minority Mindset, LLC is an independent, advertising-supported publisher. We are not an investment advisor. Always do your own due diligence and never blindly listen to a random article on the internet. We do our best to provide financial education with our free videos, articles, tools, and other self-help content. But these are for informational purposes only, they’re not investment advice.

Minority Mindset does not and cannot guarantee the accuracy or applicability of any information regarding your individual circumstances. The examples we provide are hypothetical and we encourage you to get advice from a qualified professional regarding specific investment, tax, legal, and financial issues. Previous market performance does not guarantee future performance.

We want everyone to be able to make educated financial decisions. We do not feature every company or financial product available. However, we’re proud of the financial education and guidance that we provide at no charge.

We’re paid by our brand partners and advertisers. This may influence which products we mention, review, and where they appear on our site. But it does not affect our recommendations or advice.

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Disclaimer: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements, and seek independent professional advice, before making any financial decisions. Our content is provided for informational purposes only, and no content that is provided or included in our products or services is intended for trading or investing purposes. We will not be liable for the accuracy, usefulness, or availability of any information transmitted and/or made available by way of our products or services, and shall not be responsible or liable for any trading and/or investment decisions made by you based on any such information. For a further understanding of this Disclaimer and use of our site, please see the information contained in our Terms of Use and Advertising Disclaimer.

Minority Mindset may earn a portion of sales from products that are purchased or recommended through our site as part of our Affiliate Partnership with retailers and brands.

Minority Mindset has partnered with CardRatings for our coverage of credit card products. Minority Mindset and CardRatings may receive a commission from card issuers.

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