Now that you’re familiar with some of the incredible values that are available through transferable currencies, you may want to get a card (or two) of your own! Before diving into applying for any old card, let’s set a general scene for the key banks that offer travel rewards cards and some specific rules they have about when they will and won’t approve your application.
Note on Credit Scores:
We should start with a large caveat, which is that it will be difficult to be approved for any of these credit cards if you do not have at least a “good” credit score. There are no hard cut-offs, but your credit score should probably be at least 700 if not more like 750 to be approved for most of these cards. As long as you’re in that range, you should generally feel confident about your ability to apply and be approved for cards with the banks we’ll walk through below. If your credit score is below 700, I would recommend getting a secured credit card to help build your credit score over time. Once you’ve done that and have an improved credit score, come back here to understand the process a bit more closely.
Overview of Banks, Card Families, and Key Application Rules:
Chase
Chase Ultimate Rewards Cards:
As we walked through in the previous post on transferable points, Chase’s Ultimate Rewards points are very valuable. We walked through the process from the perspective of a card holder with a Chase Sapphire Preferred, but Chase offers a number of cards that earn Ultimate Rewards Points.
| Card Name: | Personal or Business: | Can Transfer Points: | Annual Fee: |
|---|---|---|---|
| Chase Sapphire Reserve | Personal | Yes | $550 |
| Chase Sapphire Preferred | Personal | Yes | $95 |
| Chase Ink Preferred | Business | Yes | $95 |
| Chase Ink Unlimited | Business | No | $0 |
| Chase Ink Cash | Business | No | $0 |
| Chase Freedom Unlimited | Personal | No | $0 |
| Chase Freedom Flex | Personal | No | $0 |
| Chase Freedom Rise | Personal | No | $0 |
Two notes on the table above:
1. Not all cards listed above are advertised as earning Ultimate Rewards points. For example, the Freedom cards and the Ink Unlimited and Ink Cash cards are advertised as earning cash back, but these points can be treated like Ultimate Rewards if combined with a card that has the opportunity to transfer points, such as the Sapphire or Ink Preferred.
2. Not all cards that earn Ultimate Rewards can transfer those points to airline partners. You will need one of the Sapphire Preferred, Sapphire Reserve, or Ink Preferred cards to transfer your points to partners.
Chase Co-Branded Cards:
Chase also has many other co-branded cards that earn points with other programs. When we talk about co-branded cards, we mean that the card is both a Chase card and a Southwest card as an example. The key with these cards is they earn the currency of the hotel or airline partner and are NOT transferable like Ultimate Rewards are. See a list of these cards below.
| Card Name: | Card Family: | Personal or Business: | Earning Currency: | Annual Fee: |
|---|---|---|---|---|
| United Mileage Plus Gateway | United | Personal | United Mileage Plus | $0 |
| United Mileage Plus Explorer | United | Personal | United Mileage Plus | $95 |
| United Mileage Plus Quest | United | Personal | United Mileage Plus | $250 |
| United Club Infinite | United | Personal | United Mileage Plus | $525 |
| United Business Card | United | Business | United Mileage Plus | $95 |
| United Club Business Card | United | Business | United Mileage Plus | $450 |
| Southwest Rapid Rewards Plus | Southwest | Personal | Southwest Rapid Rewards | $69 |
| Southwest Rapid Rewards Premier | Southwest | Personal | Southwest Rapid Rewards | $99 |
| Southwest Rapid Rewards Priority | Southwest | Personal | Southwest Rapid Rewards | $149 |
| Southwest Performance Business | Southwest | Business | Southwest Rapid Rewards | $199 |
| Southwest Premier Business | Southwest | Business | Southwest Rapid Rewards | $99 |
| Marriott Bonvoy Bold | Marriott Bonvoy | Personal | Marriott Bonvoy | $0 |
| Marriott Bonvoy Boundless | Marriott Bonvoy | Personal | Marriott Bonvoy | $95 |
| Marriott Bonvoy Bountiful | Marriott Bonvoy | Personal | Marriott Bonvoy | $250 |
| Aeroplan | Aeroplan | Personal | Air Canada Aeroplan | $95 |
| IHG One Traveler | IHG | Personal | IHG One Rewards | $0 |
| IHG One Premier | IHG | Personal | IHG One Rewards | $95 |
| IHG One Business | IHG | Business | IHG One Rewards | $95 |
| World of Hyatt | World of Hyatt | Personal | World of Hyatt | $95 |
| World of Hyatt Business | World of Hyatt | Business | World of Hyatt | $200 |
| British Airways Visa Signature | Avios | Personal | Avios | $95 |
| Aer Lingus Visa Signature | Avios | Personal | Avios | $95 |
| Iberia Visa Signature | Avios | Personal | Avios | $95 |
As you can see, Chase has many cards across different families as well.
Key Chase Application Rules:
Chase has a few key application rules to be aware of:
1. 5/24
Chase’s 5/24 rule means that you will not be approved for any of their cards, personal or business, if you have opened five or more credit cards in the last 24 months. One note here: Chase will pull your personal credit report, so business credit cards do not show up on your personal credit report, and therefore business cards do not count towards your 5/24 status. This is a key rule, and typically means it’s good to start your credit card journey with Chase, or you may be later locked out of getting new Chase cards if you open up a few cards over two years.
2. One Sapphire
Chase will only allow you to hold one Sapphire card, so you cannot hold both a Sapphire Preferred and a Sapphire Reserve at the same time.
3. Sapphire 48-Month Rule
You can only earn a welcome bonus on a Sapphire card once every 48 months. If you have earned a Sapphire bonus in the last 48 months, you are not eligible for a new one, meaning you must wait 48 months from the time you earn your Sapphire bonus to apply for your next one.
4. Family Card Rules
There are some rules about earning multiple welcome bonuses with the same cards, notably related to Marriott cards. A separate explanation of understanding Marriott application rules will be available.
5. 24-Month Rule
For most cards besides the Sapphires, Chase will not extend another welcome offer to you if you have earned one on that card in the last 24-months.
American Express
American Express Membership Rewards Cards:
Amex has many personal and business cards that earn Membership Rewards. Unlike Chase, all cards that earn Membership Rewards points have the ability to transfer to Amex’s diverse set of transfer partners. The table below lists all cards that earn Membership Rewards (MR).
| Card Name: | Personal or Business: | Credit or Charge Card: | Annual Fee: |
|---|---|---|---|
| Amex Everyday | Personal | Credit Card | $0 |
| Amex Everyday Preferred | Personal | Credit Card | $95 |
| Amex Green | Personal | Charge Card | $150 |
| Amex Gold | Personal | Charge Card | $325 |
| Amex Platinum | Personal | Charge Card | $695 |
| Amex Blue Business Plus | Business | Credit Card | $0 |
| Amex Business Green Rewards | Business | Charge Card | $95 |
| Amex Business Gold | Business | Charge Card | $375 |
| Amex Business Platinum | Business | Charge Card | $695 |
Amex Co-Branded Cards:
Amex also has an extensive set of co-branded cards that overlap with some of their transfer partners. The table below lists all Amex co-branded cards. Importantly, all Amex co-branded cards are credit cards, not charge cards.
| Card Name: | Card Family: | Earning Currency: | Personal or Business: | Annual Fee: |
|---|---|---|---|---|
| Delta SkyMiles Blue Card | Delta | Delta SkyMiles | Personal | $0 |
| Delta SkyMiles Gold Card | Delta | Delta SkyMiles | Personal | $150 |
| Delta SkyMiles Platinum Card | Delta | Delta SkyMiles | Personal | $350 |
| Delta SkyMiles Reserve Card | Delta | Delta SkyMiles | Personal | $650 |
| Delta SkyMiles Business Gold Card | Delta | Delta SkyMiles | Business | $150 |
| Delta SkyMiles Business Platinum Card | Delta | Delta SkyMiles | Business | $350 |
| Delta SkyMiles Business Reserve Card | Delta | Delta SkyMiles | Business | $650 |
| Hilton Honors Card | Hilton | Hilton Honors | Personal | $0 |
| Hilton Surpass Card | Hilton | Hilton Honors | Personal | $150 |
| Hilton Aspire Card | Hilton | Hilton Honors | Personal | $550 |
| Hilton Business Card | Hilton | Hilton Honors | Business | $195 |
| Marriott Bonvoy Bevy | Marriott Bonvoy | Marriott Bonvoy | Personal | $250 |
| Marriott Bonvoy Brilliant Card | Marriott Bonvoy | Marriott Bonvoy | Personal | $650 |
| Marriott Bonvoy Business Card | Marriott Bonvoy | Marriott Bonvoy | Business | $125 |
Key Amex Application Rules:
1. Charge Cards vs Credit Cards
Amex offers both charge cards and credit cards, which function slightly differently from each other: charge cards must be paid off in full each month, with the exception of Amex’s Pay Over Time Feature, which is different from how traditional cards operate. In practice, if you are paying off you balance on time and in full like I mentioned in the 6 Golden Rules post, this is no different from how you should treat all credit cards. Credit cards operate like cards from any other bank, where you could carry a balance on the card and pay interest over time. Importantly, Amex has limits on the number of credit cards it will offer customers, which we’ll get to below.
2. Once In a Lifetime Rule
Amex restricts customers to only earning one welcome bonus per card per lifetime. Note that a “lifetime” is technically not the customer’s entire life: according to data points, Amex typically does not consider cards acquired more than 7 years ago, so in practice you may be able to earn more than one bonus on the same card over a long timeframe. Note that some offers from Amex have “No Lifetime Language” where Amex drops this restriction from time to time.
Because of this once in a lifetime rule, it is typically important to apply for Amex cards when they have a higher-than-usual or all-time high offer to make sure you take advantage.
3. Family Rules
Over the last couple years, Amex has started to institute “family rules” with their families of cards, such as the personal Membership Rewards-earning cards (Green, Gold, Platinum), the Delta SkyMiles cards, and the Marriott Bonvoy cards so that customers cannot earn a welcome bonus on a less premium (lower annual fee) card if they have already earned the welcome bonus on the more premium card. As an example, customers are restricted from earning the welcome bonus on the Delta SkyMiles Gold card if they have earned the bonus on the Delta SkyMiles Reserve card.
One important note about this rule is that it means that if you comply with the family rules’ order, it is possible to earn bonuses on each card in a family if the order in which you apply for cards works with the family rules.
4. 5 Credit Card Rule
Amex will not offer a customer more than 5 credit cards. Note that Amex considers credit cards different from charge cards: charge cards function similarly to credit cards, but carrying balances is typically not allowed on these cards (outside of Amex’s Pay Over Time feature). See the above table for which cards are considered credit cards vs charge cards.
5. 2/90 Rule
Amex will not approve a customer for more than two credit cards over a 90 day period.
6. 1/5 Rule
Amex will not approve more than one card over a 5 day period.
Amex is also typically quite sensitive to playing by the rules they set out for members. They are more likely than other banks to attempt to claw back, effectively reclaim, points or rewards earned in ways they deem inappropriate. For example, if you cancel a card before the end of the first year, Amex may attempt to claw back your sign-up bonus. Additionally purchasing gift cards is not advised during the sign-up period with an Amex card.
Capital One
Capital One Miles and Cash Back Cards:
Capital One has a handful of cards that either earn “miles” or cash back. There is no specific name for Capital One’s internal currency other than “miles”, but these miles are points that can be transferred to airline partners like Chase Ultimate Rewards or Amex Membership Rewards. Note that you will need to have one of: Venture Rewards, Venture X, or Venture X Business cards to transfer miles. Another important note: if you have multiple Capital One cards and one is a cash back card and another is a miles earning card such as the three listed above, you can convert your cash back into miles at the rate of 1 cent cash back = 1 Capital One mile.
Capital One doesn’t offer any travel co-branded cards of note.
| Card Name: | Personal or Business: | Earning Currency: | Annual Fee: |
|---|---|---|---|
| Capital One VentureOne Rewards | Personal | Capital One Miles | $0 |
| Capital One Venture Rewards | Personal | Capital One Miles | $95 |
| Capital One Venture X Rewards | Personal | Capital One Miles | $395 |
| Capital One Savor One Rewards | Personal | Capital One Cash Back | $0 |
| Capital One Venture X Business | Business | Capital One Miles | $395 |
| Capital One Spark Miles | Business | Capital One Miles | $95 |
| Capital One Spark Cash Plus | Business | Capital One Cash Back | $150 |
Key Capital One Application Rules:
It’s typically difficult to get approved for many Capital One cards over time, and many customers with otherwise good credit have a difficult time being approved at all in some cases. It’s believed that Capital One has a preference towards more middle of the road credit profiles, and often looks for customers it thinks will carry a balance.
1. 1/6
Capital One will not approve customers for more than one card every six months.
2. 2 Personal Card Maximum
Capital One will typically not approve customers for more than two personal cards at any given time. This does not apply to their business cards.
Citi
Citi has its own transferable currency called Citi ThankYou Points. The only cards that are marketed as earning ThankYou Points directly are the Strata Premier and Rewards+ cards, however all Citi cards earning cash back are technically earning ThankYou Points at the rate of 1% cash back = 1 Citi ThankYou Point. This means that cards like the Citi DoubleCash and Citi CustomCash cards earn ThankYou Points as well.
Citi also offers a handful of American Airlines co-branded cards. A complete list of all these cards is included in the table below.
| Card Name: | Earning Currency: | Personal or Business: | Annual Fee: |
|---|---|---|---|
| Citi Strata Premier | Citi ThankYou Points | Personal | $95 |
| Citi Rewards+ | Citi ThankYou Points | Personal | $0 |
| Citi Custom Cash | Citi ThankYou Points | Personal | $0 |
| Citi Double Cash | Citi ThankYou Points | Personal | $0 |
| Citi / AAdvantage Platinum Select World Elite | American Airlines AAdvantage Miles | Personal | $99 |
| Citi / AAdvantage Executive World Elite | American Airlines AAdvantage Miles | Personal | $595 |
| Citi / AAdvantage Mile Up | American Airlines AAdvantage Miles | Personal | $0 |
| Citi / AAdvantage Business World Elite | American Airlines AAdvantage Miles | Business | $99 |
Key Citi Application Rules:
1. 2/65 Rule
Citi will typically not approve you for more than 2 cards in a 65 day period.
2. 48 Month Rule
Citi will not allow you to earn another welcome bonus on a card if you have earned one in the last 48 months.
Bank of America
Bank of America offers travel rewards cards in the form of cash back, but Bank of America does not offer a transferable currency of their own. Note that there are technically more cards that Bank of America markets as “travel rewards” cards, but I am omitting those that seem to be poor value.
| Card Name: | Earning Currency: | Personal or Business: | Annual Fee: |
|---|---|---|---|
| BoA Travel Rewards | Cash Back | Personal | $0 |
| BoA Premium Rewards | Cash Back | Personal | $95 |
| BoA Premium Rewards Elite | Cash Back | Personal | $495 |
| Alaska Airlines Signature | Alaska Airlines Miles | Personal | $95 |
| Alaska Airlines Signature Business | Alaska Airlines Miles | Business | $95 |
| Free Spirit Travel More Mastercard | Spirit Airlines Points | Personal | $79 |
| Air France KLM World Elite Mastercard | Air France KLM Flying Blue Miles | Personal | $89 |
Key Bank of America Application Rules:
1. 2/3/4 Rule
Bank of America will typically not approve customers for more than 2 cards in a 2 month period, 3 cards in a 12 month period, and 4 cards in a 24 month period.
2. 3/12 Rule
Bank of America will typically also not approve customers who have been approved for 3 cards across all issuers in the previous 12 months.
3. Deposit Accounts May Help
Anecdotally, having deposit accounts such as checking or savings accounts with Bank of America may help your approval odds for all cards, and may be able to circumvent the 3/12 rule.
Barclays
Barclays no longer offers any travel cards of their own, but they have many co-branded cards. I’ve listed those of interest in the table below:
| Card Name: | Earning Currency: | Personal or Business: | Annual Fee: |
|---|---|---|---|
| JetBlue Plus Card | JetBlue TrueBlue Points | Personal | $99 |
| JetBlue Card | JetBlue TrueBlue Points | Personal | $0 |
| JetBlue Business Card | JetBlue TrueBlue Points | Business | $99 |
| AAdvantage Aviator Red | American Airlines AAdvantage Miles | Personal | $99 |
| Hawaiian Airlines Card | Hawaiian Airlines Miles | Personal | $99 |
| Hawaiian Airlines Business Card | Hawaiian Airlines Miles | Business | $99 |
| Wyndham Rewards Earner Business Card | Wyndham Rewards Points | Business | $95 |
Key Barclays Application Rules:
1. 6/24 Rule
Barclays typically enforces a 6/24 rule similar to Chase’s 5/24 rule, but slightly more lenient, where Barclays will likely still approve customers who have applied for a total of 5 cards in the past 24 months. Note that occasionally we do not see this rule enforced.