If you’ve got good credit, Chase offers a number of Premium Credit Cards that are great choices for travel rewards, cashback, and Facebook advertising.
While various issuers feature super-premium options for high rollers, Chase offers a superior suite of Cadillac-level credit cards for the average business owner with close to stellar credit scores. Whether you’re looking for a lucrative travel rewards card, easy cash back, or just a small business credit card, you’ll want to look at what many financial gurus consider to be the best Chase credit cards of 2022.
Since Chase cards have a wide variety of complimentary benefits, people often hold a number of them to maximize the value they get out of each card.
But before we dive in to look at what makes these the best Chase credit cards for travel rewards, cashback, and more, let’s ask an important question.
Is Getting a Premium Credit Card Really Worth It?
While it’s true that Premium Credit Cards come with fabulous rewards and perks – but they can also charge pretty high annual fees. So, if you decide to get one of Chase’s best credit cards, you should treat it like a financial investment and work at getting the most out of it.
Here’s everything you need to know about carrying a Premium Credit Card.
What Is a Premium Credit Card?
The chance to earn WAY better-than-average rewards – especially on for travel-related purchases – and get spiffy benefits is the main difference between premium credit cards and more basic credit cards. Rewards, like free or discounted flights and hotel rooms, make Premium cards worthwhile for people who love to live it up on vacation.
Most Premium cards have an annual fee – some are $500 or more. Others, like many of the Chase cards recommended below, have much more reasonable fees or even $0 annual fees. But if you’re smart about using Premium credit cards, you can cash in on a lot more rewards and benefits than you pay in fees.
What’s the Key to Getting the Most Out of Premium Credit Cards?
Basically, it’s staying on top of them. The fact is, Premium Credit Cards are not passive products. You have to keep track of your rewards and perks so you can take full advantage of them — or avoid losing them.
In a US News & World Report article about the pros and cons of Premium credit cards, Brent Wisley, CEO of Wilsey Asset Management in San Diego says, “If you use them properly, they can be one of your best investments.”
Wilsey says he earns $10,000 to $15,000 in cash back each year. “You have to take the time to get it right.”
Balancing multiple cards, and getting the most out of each one, can let you snag bonus rewards on business purchases and travel, including access to airport lounges, where you can get free food and drinks. You can also take advantage of cardholder concierge services, that can help you do things like get into hot Broadway plays and uber-popular restaurants.
Other Premium Credit Card Perks can Include:
Free checked bags for airlines
Insurance for baggage, rental cars, trip delays, and cancellations
Automatic status levels with airlines or hotels
Reimbursement for using ride-hailing services
Reimbursement for Global Entry or TSA PreCheck
If you’re aware of what those perks are and make a real effort to take advantage of them you really can save a ton of money.
The 9 Best Chase Credit Cards
There are literally hundreds and hundreds of Premium Credit Cards out there. And Chase offers many that provide incredible benefits at a relatively low cost — if you qualify for them.
Chase Freedom Unlimited®
What You’ll Like About It
This card is the best Chase credit card for what they call “straightforward earnings”. That means it’s considered a good general spending card.
Lets you carry a balance on new purchases at 0% interest APR
Charges $0 Annual Fee
Pays you a $200 Bonus after you spend $500 in your first 3 months.
Lets you earn unlimited minimum 1.5% cash back rewards
Has no minimum redemption amount
What You May Not Like About It
Charges a 3% foreign transaction fee
Has a relatively high advance fee of $10 or 5%, whichever is greater
Charges a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
Regular APR: 14.99 – 23.74% Variable
Credit Score Required: Excellent/Good (700 – 749)
Chase Sapphire Reserve®
What You’ll Like About It
This premium level card is the best Chase credit because it offers excellent points earning rates for people who spend a lot on travel and dining out.
Offers you a very flexible $300 annual travel credit
Gives you a super-generous welcome bonus of 60,000 bonus points
Lets you earn up to 3X rewards rate on dining at restaurants after you earn your $300 travel credit
Lets you earn 1 point per $1 spent on all other purchases
Gives you 50% more value when you redeem points for travel through Chase, as well as select purchases through their “Pay Yourself Back” program
Lets you transfer points to high profile airline and hotel partners
What You May Not Like About It
Charges a high annual fee of $550
Has a high variable APR on purchases
Requires an extremely high credit score to be approved
Regular APR: 16.99%-23.99% Variable
Credit Score Required: Excellent (750 – 850)
Chase Sapphire Preferred® Card
What You’ll Like About It
This one is on the list of best Chase credit cards because it offers an unusual lucrative mix of high rewards rates and redemption flexibility. This makes the card an ideal choice for people who spend a lot on travel and dining.
Gives you a super-generous welcome bonus of 100,000 bonus points
Lets you earn a 2X rewards rate on dining at restaurants and travel
Let’s you earn 1 point per dollar spent on all other purchases
Lets you transfer points to high profile airline and hotel partners at a 1:1 rate
Gives you a high level of travel and shopping protection
Charges a reasonable $95 annual fee
What You May Not Like About It
Is not a $0 annual fee card
Doesn’t have an intro APR offer
Regular APR: 15.99%-22.99% Variable
Credit Score Required: Excellent/Good (700 – 749)
Ink Business Preferred® Credit Card
What You’ll Like About It
Named to the list of best Chase credit cards because it gives frequent business travelers who spend a lot in the bonus categories a ton of value.
Gives you a super-generous welcome bonus of 100,000 bonus points
Lets you earn up to 3X points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable, and phone services, as well as on advertising purchases made with social media sites and search engines each account anniversary year.
Let’s you earn an unlimited 1 point per dollar spent on all other purchases
Charges no foreign transaction fees
Gives you employee cards at no additional cost
Rewards you for a wide range of common business expenses
Has a reasonable annual fee of $95
What You May Not Like About It
Is not a $0 annual fee card
Has a very high cash advance fee
Has a very high balance transfer fee
Regular APR: 15.99%-20.99% Variable
Credit Score Required: Excellent/Good (700 – 749)
Ink Business Cash® Credit Card
What You’ll Like About It
This entry on the best Chase credit cards list is here because it provides significant cash rewards for those who put a lot of business-related expenses on their credit cards.
Rewards you with a $750 Welcome Bonus
Charges $0 annual fee
Gives you a 0% introductory APR on purchases for the first 12 months of opening your account.
Lets you earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores, and on internet, cable, and phone services each account anniversary year.
Lets you earn 2% cash back on the first $25,000 spent in combined purchases.
Lets you earn unlimited 1% cash back on all other purchases
Gives you employee cards at no additional charge
What You May Not Like About It.
Imposes a spending cap on bonus categories
Has a very high cash advance fee
Has a very high balance transfer fee
Pays low rewards rates outside of bonus categories
Regular APR: 13.24% – 19.24% Variable
Credit Score Required: Excellent/Good (700 – 749)
The World of Hyatt Credit Card
What You’ll Like About It
Put on the best Chase credit cards list as the issuer’s best hotel card. This is because, while Hyatt doesn’t have as many properties as other hotel networks, the point redemption deal, perks, and other benefits offer a great value for regular guests.
Rewards you with a 30,000 point Welcome Bonus after you spend $3,000 on purchases within 3 months of opening your account.
Lets you earn up to 30,000 more Bonus Points by earning 2 Bonus Points total per $1 spent on purchases that earn 1 Bonus Point, up to $15,000 spent in the first 6 months of account opening.
Lets you earn 4X bonus points per $1 spent at Hyatt hotels
Lets you earn 2X bonus points at restaurants, on airline tickets purchased directly from the airline, local transit and commuting as well as fitness club and gym memberships
Lets you earn 1X Bonus Points on all other purchases
Gives you an annual free night certificate on cardmember anniversary
Grants you complimentary World of Hyatt Discoverist status
Provides high points redemption values
Charges a reasonable $95 annual fee.
What You May Not Like About It
Has a limited number of properties
Offers no worthwhile redemption options outside of Hyatt properties
Doesn’t have an intro APR offer
Regular APR: 15.99% – 22.99% Variable APR on purchases and balance transfers
Credit Score Required: Excellent/Good (700 – 749)
United Club℠ Infinite Card
What You’ll Like About It
One of the reasons this card is a top pick on the best Chase credit cards list in the premium airline rewards category because they’ve recently made their program a lot richer. Here are a few others.
Rewards you with75,000 miles as a Welcome Bonus
Lets you earn 4 miles per $1 spent on United purchases
Rewards you with 2 miles per $1 spent on all other travel and dining
Lets you earn 1 mile on all other purchases
Charges $0 foreign transaction fees
Gives you a free United Club membership (a $650 value)
Lets you check your first and second bag free when you use your card to purchase tickets on United
What You May Not Like About It
High $525 annual fee
No intro APR offer
High regular APR
Regular APR: 16.49% – 23.49% Variable
Credit Score Required: Excellent (750 – 850)
Southwest Rapid Rewards® Priority Credit Card
What You’ll Like About It
As Southwest Airlines’ highest rewards level card, this Chase credit card gets high points for being the best airline card for families.
Rewards you with a 65,000 point Welcome Bonus
Lets you earn 2X points per $1 spent on Southwest and Rapid Rewards hotel and car rental partner purchases
Rewards you with 1X points on all other purchases
Charges $0 foreign transaction fees
Lets you earn points toward A-list status
Allows you to earn unlimited rewards seats
Gives you a $75 a year travel credit
What You May Not Like About It
Charges a high regular APR
Requires a $149 annual fee
Has no intro APR offer
Only lets you redeem rewards on Southwest
Regular APR: 15.99% – 22.99% Variable
Credit Score Required: Excellent/Good (700 – 749)
Amazon Prime Rewards Visa Signature Card
What You’ll Like About It
The incredibly generous cash back rewards make this a great card if you are a regular Amazon and Whole Foods Market shopper
Gives you a $150 Welcome Bonus with no spending requirement
Rewards you with unlimited 5% cash back at Amazon and Whole Foods Market.
Lets you earn 2% cash back at restaurants, gas stations, and drugstores
Lets you earn 1% cashback on all other purchases
Requires $0 annual fee with Prime Membership
Charges $0 foreign transaction fees
Gives you VISA Signature benefits
What You May Not Like About It
Has no intro APR offer
Doesn’t let you earn 5% cashback on non-US Amazon sites
Charges high regular APR if your credit isn’t top tier
Has a high balance transfer fee
Regular APR: 14.24% – 22.24% Variable APR on purchases and balance transfers
Credit Score Required: Excellent/Good (700 – 749)
How to Apply for One of These Best Chase Credit Cards
So you’ve checked out all the best Chase credit cards we’ve listed. Compared benefits and costs with the cards you have now. And have decided that one — or more of them — deserves a place in your credit card portfolio. You think your credit is pretty good, so you put in an application and you’ll start earning all those great rewards
Not so fast.
As I mentioned at the beginning of this blog post, these Chase credit cards represent the top tier of their offerings. Getting approved isn’t a sure thing. This is why I’m passing on a few tips on how to apply for a Chase credit card and have a better chance of getting approved.
1. How to Apply
Aside from responding to an offer you receive in the mail, the only two ways you can apply for a Chase credit card is to apply online or submit a written application at a Chase Bank. You can’t apply for a Chase credit card over the phone.
Apply Online
Chase makes it pretty easy by allowing you to apply for any of their cards online at one convenient site. Just identify the one you want and click “Apply Now”. You’ll need to give Chase a variety of information including:
Name and address
Income
Place of employment
Contact information
Social Security number
Apply with a Paper Application
As I mentioned earlier, if you get an offer from Chase in the mail you can simply apply that way. Receiving an offer in the mail gives a pretty good indication that you’ll likely be approved since they kind of pre-qualify you via list selection. If you haven’t received a paper application in the mail you can pick one up at a local Chase Bank branch.
How to Get Approved for the Best Chase Credit Cards
Applying for a Chase credit card is the easy part. Getting approved for one of their top of the line cards is a little harder. Every credit card issuer has different criteria for granting approval and none of them make that information available to the public.
Here are a few tips on improving your chances:
1. Work on improving your credit score.
No matter which Chase card you decide to apply for, you’re going to need seriously good credit to get approved. Your odds of getting approved for a card that requires “good credit” will go up if you have a credit score of over 700. For cards that require “excellent credit”, that number will need to be over 750.
If you’ve got questions about credit scores for business, you’ll find answers in this FunnelDash blog post that covers the topic pretty thoroughly.
2. Be smart about what you do with your money.
One of the ways you can improve your chances of getting approved is to build up your savings. By putting aside a bit of money each month into savings, you’ll show Chase you have funds on hand to pay your charges. Also be careful of how much you spend on your other credit cards. Ideally you should only be using 30% or less of your available credit.
Naturally paying all your existing bills on time is a must. If you’ve had a bankruptcy that’s still on your credit report, you should forget about applying. You’ll likely be instantly denied approval for Chase’s best credit cards. Instead, check into credit cards that help you rebuild credit so you can apply for better cards in the future.
3. Don’t go credit card crazy.
Chase has another hurdle you need to clear in order to get approved. Most travel cards issued by Chase are subject to what is called the Chase 5/24 Rule, including co-branded cards.
What is the Chase 5/24 Rule?
In a nutshell, it means that if you’ve opened five or more personal credit cards with any and all credit card issuers in the last 24 months, Chase will almost certainly deny your next application for one of their credit credit cards. Which means you actually need to be under 5/24 to be approved.
Some co-branded cards used to be exempt from the restriction, but now it applies to all Chase personal and business cards. However business cards you already have won’t add to your personal card count if you are applying for a new personal credit card.
How to keep track of your 5/24 status
In order to avoid this pitfall and wasting your five Chase card slots, or applying for a Chase card only to be denied, you need to keep an eye on your 5/24 status.
The good news is keeping track of your status is pretty easy to do. No spreadsheets or complicated software required. All you have to do is follow these simple steps:
Sign up for a free credit report monitoring service. Two of the most popular ones are Experian and Credit Karma.
Review the list of all your accounts. The list will show all of your accounts including those that are open and the ones that are closed.
Check which ones count toward your 5/24 status. The good thing about Experian and Credit Karma is that they let you sort your accounts by the dates you opened them. This gives you an easy way to count how many accounts you opened within the last 24 months. Chase only looks at whether and when you opened an account. If you opened an account within the last 24 months and then closed it — or close it now — it will still count toward your 5 card limit.
How to close an account to get under the limit. If you want to close an account to comply with the rule, you’ll have to wait until the first day of the 25th month after your fifth account was opened to actually fall below the 5/24 limit.
Beware of authorized-user cards. Because they are reported to the credit bureaus, authorized-user cards from another person’s personal credit or charge card will add to your 5/24 score. If you have these and they put you over the limit, you can still apply for a Chase card and get approved. Simply call the reconsideration line to ask that these accounts not be counted.
And don’t worry about the auto loans, student loans, and mortgages that show up on the list. Because they don’t count toward your 5/24 score.
How to Check Your Chase Credit Card Application Status
If you’re anxious to know whether or not you’ve been approved or declined for one of the best Chase credit cards, checking your status is fast and easy.
Call to find out about your application. You can check your Chase credit card application by phone by calling (888) 338-2586. You’ll just have to enter your full Social Security number when prompted. You can call Chase’s automated application status line anytime 24 hours a day, 7 days a we
Go online to check your status.
To do it online, just follow the step-by-step guide:
Log in to your Chase Online account with your username and password.
If you don’t have an account yet, just click the “New To Chase Online?” button below the login area. Then create an account by entering your application number and Social Security Number.
Once you’re in, click on the “Customer Center” button at the top of the page.
Then locate the section that says “Open a New Account” on the right side of the page.
Click on “Check my application status.”
You’ll be able to see your application(s) and whether they’re pending, approved, or denied.
What Happens Next?
If you’re approved for one of the best Chase credit cards of summer 2021, break out the champagne. You can look forward to using your new premium card to earn the massive bonus points and cash back rewards you’ve been lusting after. Plus you can take advantage of all the exclusive VIP benefits, services, and privileges your new card offers.
If your application is denied, don’t despair. You can call Chase at (888) 270-2127 and ask them to reconsider your application. A Chase credit analyst will be happy to talk to you and take another look over your application materials. There’s no guarantee you’ll get approved, but it’s worth a try. When you call, make sure to have your application ID or Social Security Number ready to give to the analyst.
The benefits and rewards of the best Chase credit cards are more than worth the trouble of jumping through the hoops you have to do to get them. If your credit is great and you fall under the 5/24 limit you should be good to go. If not, and you have some work to do to get your finances in a good enough place to qualify, get started today. Good luck!
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