Review of the Chase Travel Rewards Credit Card



The Chase Travel Rewards Credit Card was last reviewed on 11th May 2005

Important notice - As of July, Chase has discontinued the Chase Travel Rewards Platinum Mastercard. Instead, they are more actively promoting the Chase Flexible Rewards Platinum Visa®, an all-round reward program credit card. We also recommend you investigate the Citi® PremierpassSM Card, a reward card that lets you earn miles from the dollars you spend and from the miles you fly.

Summary - We recommend the Chase Travel Rewards Platinum Mastercard® to those looking to use reward points for domestic or international airline tickets or to Continental OnePass members looking for a no annual fee travel credit card because
  • The Chase Travel Rewards Program has probably the most value in their airline tickets rewards. You simply require less points for comparable travel destinations versus other reward cards
  • You can redeem points for either a $75.00, $100.00 or $150.00 airline travel certificate in case you want to redeem points for cheaper short haul flights and not use the full 22,000 for a roundtrip domestic ticket
  • Continental Onepass members can convert travel reward points to OnePass miles at a one-for-one conversion ratio.
  • There is no annual fee


Let's explore this card in more detail.

Reward Formula - The Chase Travel Rewards Mastercard is a travel credit card based on Chase's Travel Reward program. You earn one point for every dollar you spend on the card. You can earn up to 10,000 in a month or 80,000 points in one calender year. Points are valid for five years.

Annual Fee and APR - There is no annual fee. The apr is prime rate plus 4.99%. The Chase Travel Rewards credit card uses the two-cycle average daily balance method (including new purcahses) to calculate monthly balances. You get a 0% introductory apr on balance transfer for 12 months from account opening.

Travel Reward Points can be converted to Continental OnePass Miles - The Chase Travel Rewards allow you to convert your points into Continental OnePass Miles at a one for one ratio. This feature is very useful to Continental OnePass members who do not want to pay the annual fee for the Chase Continental Airlines Mastercard.

Assessment of Travel Rewards Program - The Travel Rewards program is perhaps one of the best travel program around. It has rewards in four areas, airline tickets, hotels, car rentals and cruises. In each of these four categories, they offer some rewards at great value, value that cannot be found at other reward programs. Here are a few examples.

In the airline rewards, travel rewards only require that you use 22,000 points for a roundtrip economy class ticket within the 48 states in continental USA. Most other programs require 25,000 points or miles. For 25,000 points, you can get a roundtrip in the US within the 50 states. Many reward program require 35,000 points for this. For just 15,000 points, you can get a roundtrip companion ticket within the 48 states. Very few reward programs have this feature. You also require less points on similar flights than other reward programs

You can also use points for a $75, $100 or $150 airfare discount if you choose to do so. This is very important if you want to get free tickets for a short haul flight. A short haul flight may only cost anywhere from $90 to $150. Using 22,000 points (which is equivalent to $220 in value) does not make sense for redeeming for a short haul flight ticket.

In the car rental area, the Travel Reward program has one standout offer. For 30,000 points, you can get 1 weeks worth of car rental of up to maximum value of $500. No other reward program that I have checked has this offer. Essentially, this equates to a rebate payout of more than 1%.

In the cruise travel area, the Travel Rewards offers a 8-Day/7-Night Cruise for two to any destination - including round-trip airfare ($3,000 Maximum Value) for 150,000 points. In contrast, Citibanks' ThankYou Redemption Network requires 154,700 points for a 3-night cruise package to the Bahamas or Baja, Mexico (including air fare).

Summary - The Chase Travel Rewards credit card is backed by a very good travel reward program. If you want to use reward points just for travel (especially airline travel), the Chase Travel Rewards Platinum Mastercard® will require less points for a similar reward than most other reward program. It has perhaps one of the best travel reward program around. For Continental OnePass members, you can convert points into Continental OnePass Miles. Essentially, this is a no-annual fee Continental Airlines frequent flyer card.

Positives
  • Very good travel reward program
  • No annual fee
  • Low apr
  • Very good airline, car rental and cruise travel rewards
  • Can convert points into Continental OnePass miles


Negatives
  • Uses the two-cycle average daily balance method (including new purchase) to calculate monthly balance



Chase Travel Rewards Mastercard
Reward Benefits
Reward Formula Earn 1 point per $1 spent on purchases
Reward Points redemption Redeem points for flights, hotel stays, car rentals, vacation packages
Travel awards allows you to choose virtually any airline
Exchange Travel rewards for Conitnental OnePass Frequent Flyer account or gift certificates
Caps on Points 10,000 per billing cycle
80,000 per calender year
Expiration 5 years
Travel and Insurance Benefits
Up to $500,000 Automatic Travel Accident Insurance
Other Benefits
Online Account Access
Online account statements
Chase Bill Management Center
Credit Line increases
Cost/Fees/Interest rates
Introductory rate 0% introductory APR on balance transfers for first 12 months
Annual Fees No anual fee
Purchase APR Prime Rate plus 4.99% for Elite Pricing
Prime Rate plus 8.99% for Premium Pricing
Prime Rate plus 12.99% for Standard Pricing
Balance Transfer APR Prime Rate plus 4.99% for Elite Pricing
Prime Rate plus 8.99% for Premium Pricing
Prime Rate plus 12.99% for Standard Pricing
Cash Advance APR Prime Rate plus 15.99%
min is 19.99% for Elite and Premium Pricing
min is 23.99% for Standard Pricing
Penalty/Default Rate APR Prime Rate plus 23.99%
Min Finance Charge $1.00
Grace Period 20 days
Balance Calculation Method Two Cycle Average Daily Balance (including new purchases).
Balance Transfer Fee 3%, max $75.00
Cash Advance fee 3% min $10.00
Foreign Currency Conversion fee 3% of the converted transaction amount.
Over-the-credit-limit fee $35.00
Late Payment fee $15.00 - up to but not including $250
$39.00 - $250 or greater



As this card is no longer offered by Chase, you should look at other reward credit cards. We highly recommend the Citi® PremierpassSM Card. You can browse other reward credit cards on our Reward Program Credit Cards Directory.

If you already have this credit card and want to comment on it, you can post your review here.





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