When we talk about credit card rewards, we often focus on American Express and Chase. In this video, we explore why Chase and American Express dominate the travel rewards space!
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– FREE Credit Card Consultation ⇨
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REFERRAL LINKS TO CARDS FEATURED IN THIS VIDEO:
– Amex Gold ⇨
– Amex Platinum ⇨
– Chase Sapphire Preferred ⇨
– Chase Sapphire Reserve ⇨
– Chase Freedom ⇨
– Chase Freedom Unlimited ⇨
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This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities.
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RELATED VIDEOS:
– Is the Chase Sapphire Reserve Still Worth It? ⇨
– Chase Ultimate Rewards vs American Express Membership Rewards ⇨
– Getting the Chase Sapphire Preferred Over the Reserve Card? ⇨
– Crazy Habits of a Points Collector ⇨
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MUSIC CREDITS:
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22 comments
Do you agree or disagree with my assessment? What has been your experience with American Express and Chase? 🤓
nice video like always ………………….I just redeem some of my chase points and amex to go to San Francisco in march ……
Second😤
Another outstanding video, Ernest! Very detailed, great history lesson, easy to understand and of course, unbiased.
Besides the reasons you gave, I'd also say the value of their points are higher than other issuers. You can generally could get 2 cents per point with Chase and Amex, as well as their lucrative signup bonuses and travel/purchase benefits.
I recently found out that Chase points are worth between 1.5 to 2 cents per point when you book flights, cars, hotels, etc through Chase portal. But AMEX points are worth only about .075 to 1 cent per point through its portal. I really thought it was the other way around until I have both cards and got to try it myself now. So CSR 3 points per dollar on travel and dining actually is more valuable than AMEX Gold 4 points for dining & AMEX Platinum 5 points for flights and hotels. I’m keeping my CSR even after the price increase!
I agree. I think Chase and Amex are the big players in the world.
I like your vids, but in my humble opinion, your intros are way to long. It takes you 2 minutes to actually get to the point of the vid. Way too long and sometimes I give up early…
I agree. I had the Amex Green Card right out of college. I used that one card almost exclusively. Doing so, I earned a domestic round trip ticket every other year. I thought that was great! Years later, I got into the Chase ecosystem. These two banks dominate the space.
I do agree that Amex and Chase dominate the topic of conversation. While I have products from both and I find them both very valuable, I have recently taken a liking to Citi. I over 5/24, I've been at this long enough to have gotten most of what I want from Amex and Chase so Citi came into play. As I've mentioned in other spaces, you can't beat the Prestige, Premier, Double Cash, and Rewards+ for a "cheaper than Amex or Chase" ecosystem.
Prestige 5x on dining and airfare, Premier 3x on all things travel including gas station, Double Cash for non-category spending, and Rewards+ for small purchases such as daily coffee at a gas station of sorts, vending in the work environment, app store purchases, etc.
Combine all of those cards into one TYP number and you'll get 25% bonus on airfare redeemed through the portal and then 10% of those points back (on the first 100k redeemed) because of the Rewards+ card. Sure you're going to forego travel protections, warranty protection, etc but if you're in the late game of this hobby and looking for a ecosystem that's cheaper than Amex or Chase then Citi gets it done.
They do lack a hotel but most of us in this hobby aren't transferring UR or MR to hotels anyway. They lack a domestic carrier but they do have transfer partners to OneWorld, SkyTeam, and Star Alliance and a lot of overlap from Chase and Amex as far as airline partners so points can be combined. So yea, Citi is far from a Chase or Amex but if one is late in the game, they're a cheap ecosystem that can yield a lot of points that can be lucrative. Their partners do require a little bit more time and effort but sometimes the chase (no pun intended) can be just as fun.
I agree with you, Ernest. How about retirees and seniors. I’d vote for CSR because of their travel protection. Corporate users are the focus here I understand but never underestimate the spending power of the seniors.
Great video!!! You have inspired me to create my own credit card videos! I agree with you that Chase Sapphire made credit cards "hip" for millennials. Keep up the great content!!!
Great video – I do have a hard time believing that serious travelers use AMEX. I canceled my AMEX Platinum card because overseas purchases were constantly being declined for fraud prevention. If you’re a frequent traveler who wants to put up with that? I do like the Chase cards though and have been using them instead of the Citibank ThankYou rewards program. Citibank and AMEX I would always have have fraud prevention problems for routine charges. Chase and Bank of America seem to be the best in that regards.
My wife and I got the original CSR 100,000 point offer. Kept it two years. I beat the claimed 50% bonus offer every time. It’s a good marketing gimmick for Chase. Priority Pass for domestic travel is third rate.
I am not a churner and rarely cancel cards. Downgraded it to Freedom Unlimited. Kept the points and credit limit.
Don’t sell Citi short. Many believe as do I that they have a better more lucrative rewards earning structure than Chase. Through a combination of higher multipliers end regular bonuses on point transfers to their partners, earning and burning citi points, is more lucrative Then almost any combination chase set up you can possibly have
My Quadfecta uses the CSR and three AmEx Blue cards. It kills any single brand version with a return on spending close to 4%.
Do you have any videos on the PayPal Cashback Mastercard?
Why don't you talk more about Citi?
Super interest. Thank you.
Have you done a video with the pros and cons of downgrading a Chase Sapphire Reserve to a Chase Sapphire Preferred card?
If not I would appreciate hearing your views on doing that.
Thank you so much for a great consultation, Ernest!
For all of you reading this comment, I just had a nice Skype convo with Ernest. Such a nice guy (in case you couldn't tell already from his videos). If you haven't done so, I highly recommend his 15-minute consultations. Super informative and helpful (just like his videos). I learned a lot from watching Trip Astute and Ask Sebby, and Ernest was impressed with how much knowledge I picked up. Definitely subscribe to this channel if you haven't done it yet.
I would get the platinum card if the offered a 2X on all other purchases and a 3X on fuel and dinning . That would make it a nice everyday card 👍🏽
Very well done! But you're using your hands far too much while you speak. The overuse of hand gestures distracts from the content of what you're saying.