A brief overview of the biggest credit card travel reward programs

American Express

Good for: Big spenders; people who love coupons; Delta Airlines loyalists

Bad for: Costco shoppers, where Amex is not accepted.

American Express Membership Rewards (MR) is a flexible, points-based rewards program. Points can be redeemed in several ways—including for travel, gift cards, merchandise, or statement credits—but the highest value typically comes from transferring points to Amex’s list of airline and hotel partners (exclusives include Delta, ANA, and Hilton). Not all Amex cards earn transferrable points—only certain cards like the Gold, Platinum, and Green cards qualify. Points don’t expire as long as your account is open and in good standing, and redemption values vary depending on how you use them (generally 0.5–1.0¢ per point for non-travel redemptions, and potentially more when transferred strategically). The fanciest of the fancypants MR-earning cards also come with annual credits for select retailers, aka the Amex Coupon Book.

In addition to its core Membership Rewards cards, American Express also issues several co-branded travel credit cards that appeal to savvy travelers and points optimizers. These cards can be incredibly valuable when used strategically. Notable options include the Delta SkyMiles® cards, which offer perks like free checked bags, priority boarding, and companion certificates—ideal for frequent Delta flyers. On the hotel side, Hilton Honors and Marriott Bonvoy co-branded Amex cards can unlock elite status, free night certificates, and accelerated earning on hotel stays. While these points aren’t transferrable to other travel partners, they can still deliver outsize value when redeemed for premium travel—especially when paired with point transfer strategies from core Amex cards. Many travel hackers pair a Membership Rewards-earning card (like the Amex Gold or Platinum) with one or two co-branded cards to build a diversified, high-reward travel portfolio.

Chase

Good for: United frequent flyers; people who still love Southwest, in 2025, for whatever reason.

Chase’s Ultimate Rewards® (UR) program is another one of the most popular and valuable travel points systems in the credit card world. Points are earned through cards like the Chase Sapphire Preferred®, Sapphire Reserve®, and Ink Business Preferred®, and can be redeemed for travel through the Chase portal (at 1.25–1.5 cents per point) or transferred 1:1 to airline and hotel partners. These include United, Southwest, Hyatt, and more. With a mix of domestic and international partners and a reputation for ease of transfer, Chase Ultimate Rewards are prized by travel hackers for their flexibility and outsized redemption value.

Chase also offers a range of co-branded travel credit cards for frequent flyers and hotel loyalists. Airline partnerships include United MileagePlus®, Southwest Rapid Rewards®, Aer Lingus, British Airways, and Iberia, each offering perks like priority boarding, free bags, and companion fares. On the hotel front, Chase is the only issuer of the World of Hyatt cards, which unfortunately rarely offer generous welcome bonuses.

Capital One

Good for: Le Petite Bourgeoisie (or people who want luxury travel perks but balk at Amex’s $700 annual fee)

Capital One’s Miles rewards program centers around cards like the Venture and Venture X, which earn Capital One Miles—a flexible currency that can be redeemed for travel at a flat rate of 1 cent per mile or transferred to over 15 airline and hotel partners. Transfer ratios vary (some at 1:1, others at 2:1.5 or similar), but Capital One has steadily improved its partner network and transfer options, making it increasingly competitive with Chase and Amex. The Venture X, in particular, is geared toward frequent travelers with premium perks like lounge access and 10X earning on hotels and rental cars booked through Capital One Travel.

Capital One doesn’t offer many traditional co-branded travel cards, but it has partnered with a few select travel companies, including Wyndham Rewards® and TAP Air Portugal. (Pro tip: Barclays offers several flavors of co-branded Wyndham Rewards cards that are complimentary to a Capital One points strategy. Wyndham Hotels may not have many high-end properties in its portfolio, it does have a partnership with Vacasa).

Citibank

Good for: AA loyalists, maybe.

Citi’s travel rewards program is built around ThankYou® Points, earned through cards like the Citi Strata Premier℠. These points can be redeemed for travel through Citi’s ThankYou portal or transferred to a roster of mostly-international airline partners (e.g., Turkish Airlines, Singapore KrisFlyer, Avianca LifeMiles, and Flying Blue). Most transfers occur at a 1:1 ratio, and while the portal itself doesn’t offer enhanced redemption rates like Chase does, the value comes from using transfer partners strategically—especially for international travel.

Citi also issues a few notable co-branded travel credit cards, with its most prominent being the American Airlines AAdvantage® cards, including the Citi® / AAdvantage® Platinum Select® World Elite Mastercard®. These cards appeal to loyal AA flyers with perks such as free checked bags, Group 5 boarding, and flight discount offers. While Citi has fewer hotel partnerships than Chase or Amex, its AAdvantage lineup is a strong option for those who regularly fly American Airlines, especially when paired with status or frequent domestic travel. In late 2025, Citi and American announced that Citi will become the airline’s exclusive co-brand credit card issuer. Many speculate that this announcement will eventually be followed by a transfer option for TYP to American Airlines… more to come.

Wells Fargo

Good for: ???

Wells Fargo recently re-entered the travel rewards space with the launch of its Wells Fargo Rewards Points system, centered on new products like the Autograph Journey℠ and Autograph℠ cards. Points can be redeemed for travel, cash back, or gift cards—but more importantly, Wells Fargo now offers point transfers to airline partners, including programs like Air France/KLM Flying Blue, Avianca LifeMiles, and British Airways Avios. This puts it more directly in competition with Amex, Chase, and Citi in the flexible rewards game. The partner selection needs to be fleshed out a bit more though to be a strong contender with the other issuers.

However, Wells Fargo has another player in the game: the Bilt Mastercard. Bilt has its own point ecosystem, and allows cardholders earn points on their rent payments (up to 100,000 points per year), along with elevated rewards on dining, travel, and other everyday purchases. Points can be redeemed for travel through the Bilt Travel portal or transferred at a 1:1 ratio to a robust set of airline and hotel partners, including American Airlines AAdvantage, World of Hyatt, United MileagePlus, and Flying Blue. There’s no sign-up bonus for the Bilt card, but there’s also no annual fee, so if you’re renting in a high-COLA city, it’s worth a look.

Honorable Mention: Bank of America

Bank of America doesn’t have a travel points ecosystem or any credit cards with transferrable points. What it does have is an exclusive lock on Alaska Airlines Mileage Plan cards. Alaska Airlines isn’t part of any airline alliance, and none of the travel rewards programs include it as a transfer partner, so the BoA card is your best bet for amassing a stash of Alaska miles.