I understand that there are hundreds of credit cards out there to choose from, and it could get hard sometimes to choose the best ones for you. In the next few posts, I'll be looking at different credit card set-ups from major credit card companies starting with Chase.
Chase has a very strong list of cards that each have their own perks in their own way. As an expert in the world of credit cards, I understand the importance of maximizing rewards and benefits to get the most value from your spending. A Chase trifecta set-up can be an excellent way to do just that, by combining different Chase credit cards to earn points in multiple categories. In this blog post, I'll outline how you can set up a Chase trifecta to maximize rewards on groceries, travel, gas, and more, as well as how to choose between higher and lower annual fee cards.
Firstly, let's look at the three cards you'll need for a Chase trifecta:
Chase Sapphire Preferred or Chase Sapphire Reserve
Chase Freedom Flex or Chase Freedom Unlimited
Chase Ink Business Preferred or Chase Ink Business Cash
The Chase Sapphire cards are the backbone of this setup, offering valuable Ultimate Rewards points that can be transferred to airline and hotel partners, or redeemed for travel through the Chase portal. The Chase Freedom cards offer rotating bonus categories (like gas, groceries, or dining) as well as a flat rate of cashback or points on all other spending. Finally, the Chase Ink Business cards are designed for business owners, offering bonus points on office supply purchases, internet, phone, and cable services.
Now, let's look at how you can use these cards to maximize rewards:
Groceries: Use the Chase Freedom Flex or Chase Freedom Unlimited for groceries when it's a bonus category, earning 5% cashback or 5x points per dollar spent. When it's not a bonus category, use the Chase Sapphire Preferred or Reserve to earn 2x or 3x points per dollar spent at grocery stores.
Travel: Use the Chase Sapphire Preferred or Reserve to book travel (flights, hotels, rental cars, etc.) to earn 2x or 3x points per dollar spent. Use the Chase Freedom Flex or Chase Freedom Unlimited for travel-related expenses (like parking or tolls) to earn 5% cashback or 5x points per dollar spent.
Gas: Use the Chase Freedom Flex or Chase Freedom Unlimited for gas when it's a bonus category, earning 5% cashback or 5x points per dollar spent. When it's not a bonus category, use the Chase Ink Business Preferred or Chase Ink Business Cash to earn 2x or 5x points per dollar spent at gas stations.
Restaurants: Use the Chase Sapphire Reserve or Preferred to earn 3x points per dollar spent on restaurants. This also includes eligible delivery services, take-out, and dining.
Now, let's look at how to choose between higher and lower annual fee cards:
Higher Annual Fee Cards:
Chase Sapphire Reserve: The Chase Sapphire Reserve has an annual fee of $550, but it comes with a range of valuable benefits that can more than make up for the fee.
Annual Travel Credit: The card offers an annual $300 travel credit, which can be applied to any travel-related expenses such as flights, hotels, rental cars, and more.
Priority Pass Select Membership: The card also comes with a complimentary Priority Pass Select membership, which gives you access to over 1,000 airport lounges around the world.
Global Entry or TSA PreCheck Credit: You'll receive a $100 application fee credit every four years for either Global Entry or TSA PreCheck.
Lyft and DoorDash Benefits: Cardholders can receive $5 in DoorDash credits, complimentary DashPass until 12/31/2024 and a complimentary Lyft Pink membership.
Luxury Hotel and Resort Collection: You can get complimentary benefits like daily breakfast, room upgrades, and late checkout at over 900 luxury hotels and resorts worldwide.
Emergency Medical and Dental Benefit: You can receive reimbursement for emergency medical and dental expenses incurred while traveling.
Trip Cancellation and Interruption Insurance: If you need to cancel or cut short a trip due to covered reasons, you may be reimbursed up to $10,000 per person.
Chase Ink Business Preferred: The Chase Ink Business Preferred also has an annual fee of $95, but it offers several valuable perks for business owners.
Cell Phone Protection: The card offers up to $600 in cell phone protection against theft or damage when you pay your monthly cell phone bill with the card.
Travel Protection: The card comes with trip cancellation/interruption insurance, trip delay reimbursement, and baggage delay insurance.
Purchase Protection: You'll receive up to $10,000 per claim and $50,000 per account in purchase protection against theft or damage for the first 120 days after purchase.
Rental Car Insurance: The card provides primary rental car coverage when you decline the rental company's collision insurance.
Roadside Assistance: The card offers 24/7 roadside assistance, including towing, jump-starts, tire changes, and fuel delivery.
Lower Annual Fee Cards:
Chase Sapphire Preferred: The Chase Sapphire Preferred has an annual fee of $95, which is waived for the first year. It offers several valuable perks, including:
3X Points on Travel and Dining: You'll earn 3X points per dollar spent on travel and dining at restaurants worldwide.
Trip Cancellation and Interruption Insurance: If you need to cancel or cut short a trip due to covered reasons, you may be reimbursed up to $10,000 per person.
Auto Rental Collision Damage Waiver: The card provides primary rental car coverage when you decline the rental company's collision insurance.
Baggage Delay Insurance: You'll receive up to $100 per day for up to five days if your baggage is delayed for more than six hours.
Purchase Protection: You'll receive up to $500 per claim and $50,000 per account in purchase protection against theft or damage for the first 120 days after purchase.
$50 annual credit to use in the Chase Ultimate Rewards Travel Portal.
Chase Freedom Flex: The Chase Freedom Flex has no annual fee and offers several rotating bonus categories each quarter, including 5% cashback on up to $1,500 in spending in those categories. Additionally, it offers:
5% Cashback on Travel Purchased Through Chase: You'll earn 5% cashback on travel purchased through the Chase Ultimate Rewards portal.
3% Cashback on Dining and Drugstore Purchases: You'll earn 3% cashback on dining and drugstore purchases.
Purchase Protection
The Chase trifecta set-up can be a great way to maximize rewards and benefits across multiple spending categories. By choosing the right combination of cards and using them strategically, you can earn points or cashback on groceries, travel, gas, and more. Additionally, choosing between higher and lower annual fee cards depends on your individual needs and spending habits.