Amidst the COVID-19 pandemic, travel related perks have lost value while the advantages of stay-at-home perks have grown. I’ve long been interested in how external influences can change our perceived value of credit card perks (and I’ve written about the topic before), but I’ve never before seen such dramatic changes in credit card fortunes.
For this post, I selected a number of popular credit cards to look at. Has the current situation made them more valuable or less?
To help answer this question, I referred to my COVID Credit Card Enhancements Ultimate Guide to remind myself which cards are offering enhanced stay-at-home perks during the pandemic.
Some of the most interesting trends, in my opinion, are where a card’s value has changed indirectly because the competition has gotten stronger or weaker. For example, the Amex Gold card retains its great value for US Supermarket purchases but many other cards have temporarily gained supermarket bonuses. As a result, I value the Gold card a bit less than before.
Amex Cards
Platinum cards
| Trend | Amex Platinum Cards | |||
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Amex Platinum cards are loaded with high end travel perks that have become mostly worthless during the pandemic. That said, Amex has more than made up for it with stay-at-home rebates that add up to huge savings. The rebates are so good that you may want to sign up for a Platinum card today (or upgrade from a Green or Gold card). See: Is it time to get an Amex Platinum Card? | |||
| Nov 2019 Trend: Mixed “Amex devalued their Platinum cards (and other cards that offer Priority Pass) when they dropped Priority Pass restaurants. On the other hand, the same cards increased in value with the addition of travel protections: trip interruption & cancellation, and trip delay. The value of the latter was tempered by a reduction in purchase protections. Overall, I think the changes are net negative.” |
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Gold Card
| Trend | Amex Gold Card | ||
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The Amex Gold Card didn’t need any enhancements for it to be a great card during the pandemic. It already offered great earnings for grocery (4X at US Supermarkets, up to $25K spend/year, then 1X) and dining (4X worldwide). And the card’s $10 per month dining credit has arguably become more useful than ever before since it can be used for food delivery from GrubHub or bulk items through Boxed. One negative is that the card’s $100 airline fee credit is harder than ever to earn. Despite the airline fee issue, I would have given the Gold card an “up” trend, but for one thing: the competition has improved. For a few months anyway, many Chase and Amex cards offer great grocery earnings. So, overall, I see the trend as mixed for the Gold Card. | ||
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Green Card
| Trend | Amex Green Card | ||
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Under COVID-19, the card’s CLEAR rebate and Lounge Buddy credit have become temporarily worthless to most of us. On the other hand, Amex has thrown in a $10 monthly rebate (through December) for cell phone service payments. While that’s not enough to make the card trend upward, it’s enough to avoid a down arrow. | ||
| Nov 2019 Trend: UP “Until recently, the Amex Green card had no purpose other than as a relatively cheap downgrade from the Amex Platinum card. Now, in exchange for an increased annual fee (which has jumped from $95 to $150), Amex has thrown in solid bonus earnings (3X dining and travel) and a couple of valuable perks (most noteworthy is the annual $100 CLEAR rebate). Read more here: Amex Green takes on Chase Sapphire Reserve with narrow miss.” |
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Hilton Cards
| Trend | Hilton Credit Cards | |||||
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Things are looking pretty good for Hilton cardholders! May through July, Aspire & Surpass cardholders earn 12X points per dollar at grocery stores. Even better, free nights that can be earned with the Aspire, Surpass, or Business card have become more valuable. Free nights earned through end of year are now valid any day of the week instead of just weekends. And free nights issued from May 1 to December 31 2020 will be valid for 24 months from the date of issuance (previously 12 months). Further, the Aspire card’s $250 resort credit can now be earned through purchases at U.S. restaurants, including takeout and delivery, from June to August 2020. Sure, the Aspire card’s travel benefits and airline fee credits are less valuable for now, but I’d argue that the other enhancements more than make up for those negatives. |
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Marriott Cards from Amex
| Trend | Amex Marriott Credit Cards | ||||
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May through July 2020, Marriott Bonvoy and Bonvoy Brilliant cards earn 6X Marriott Bonvoy points at U.S. supermarkets on up to $7,500 in eligible purchases. Further, June through August, purchases at U.S. restaurants, including takeout and delivery, now qualify toward the $300 Marriott Bonvoy Brilliant statement credit benefit. These temporary enhancements are nice, but they don’t go as far as Hilton towards making the cards more valuable. Ultimately I think that Marriott offered enough here to keep the status quo. If these Marriott cards were right for you before, they’re probably still worth keeping. And if you didn’t want a Marriott card before, I don’t see any reason to get one now. |
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Delta Cards
| Trend | Delta Credit Cards |
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Most Delta credit cards are valuable because of the travel perks they provide. Amex has thrown us a bone by giving us 4X at US supermarkets May through July, but in my opinion that’s not enough to make up for the fact that benefits like free checked bags, priority boarding, and lounge access (Delta Reserve only) are useless until travel resumes. Luckily Delta has extended the expiration dates of companion tickets and travel vouchers so things aren’t completely hopeless. Overall, though, I think that Amex and Delta should have done more to keep their cardholders happy. |
| Nov 2019 Trend: MIXED “Delta has announced huge changes coming to their Amex Delta card portfolio starting Jan 30, 2020. Here’s my summary of trends:
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Chase Cards
Sapphire Reserve
| Trend | Sapphire Reserve | ||
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Earlier this year Chase increased the Sapphire Reserve card’s annual fee to $550 (from $450) and added DoorDash food delivery and Lyft rideshare benefits. Even without the COVID-19 situation, I saw these changes as a net negative for most people. But now a number of the Sapphire Reserve card’s best features have become temporarily useless: best-in-class ultra-premium travel protections, Priority Pass Select. And, of course, the card’s Lyft ridesharing perks have lost their value as well. To make up for these things, Chase has offered $100 statement credits to those who were recently charged $550 to renew their membership. They’re also giving Sapphire Reserve cardholders 5X points per dollar at grocery stores in May and June on up to $1500 spend per month. Both of these changes are nice, but in my opinion they do not make up for the value lost to cardholders during the pandemic. See also: Is the $550 Sapphire Reserve worth keeping? Here’s how to decide. |
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| Nov 2019 Trend: UP “The Sapphire Reserve card hasn’t changed, but changes to other ultra premium cards has made this one more valuable. Chase already had the best ultra-premium travel protections, but Citi used to be a close second with their Prestige card. That changed dramatically when Citi dropped their travel protections altogether. Meanwhile, Amex Platinum cards may have become more interesting when Amex added modest travel protections, but Amex also devalued their Priority Pass membership. Taken together, these changes to competitor cards has cemented the Sapphire Reserve’s place as the best all around travel card.” |
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Ritz
| Trend | Ritz Card | ||
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The Ritz card is one of the many cards in Chase’s lineup that earn bonus points at grocery stores. In this case, you’ll earn 6X on up to $5K total spend from May through July. And, since the Ritz card offers the same great travel protections as the Sapphire Reserve and better Priority Pass membership, the Ritz card becomes more of a keeper whenever the Sapphire Reserve becomes less so. I would have given the Ritz card an up arrow, but for a couple of problems: 1) Chase hasn’t done anything to make the card’s $300 in airline fee credits easier to earn during the pandemic. 2) In January, the Ritz card lost its Visa Infinite Discount Air benefit ($100 off domestic round-trip travel for two). |
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| Nov 2019 Trend: UP “Following the massive devaluation of the CNB Crystal Visa Infinite card, the Ritz card is the last card standing to offer the Visa Infinite Discount Air Benefit ($100 off domestic round trip flights for 2) and Priority Pass with unlimited guests. The only way to get this card today is to first have a Chase Marriott Bonvoy consumer card and to ask for an upgrade. The Ritz card also includes the same excellent travel protections as found on the Sapphire Reserve card.” |
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Marriott Cards from Chase
| Trend | Chase Marriott Credit Cards | |||||
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May through July 2020, all Chase Marriott cards, including business cards, earn 6X Marriott Bonvoy points at supermarkets on up to $5,000 in eligible purchases. This temporary grocery benefit is nice, but it’s hardly a game changer. Ultimately I think that it may be just enough to keep the status quo. If these Marriott cards were right for you before, they’re probably still worth keeping. And if you didn’t want a Marriott card before, I don’t see any reason to get one now. |
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Airline Cards from Chase
| Trend | Chase Airline Credit Cards: United, Southwest, British Airways, Iberia, Aer Lingus | ||||||||||||||||
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In May and June 2020, all Chase airline cards except the United Club Infinite card earn 3X miles at supermarkets on up to $1,500 spend per month. The United Club Infinite card earns 5X miles on up to $1,500 spend per month for those same two months. In my opinion the grocery bonus is not enough to make up for the fact that benefits like free checked bags, priority boarding, and lounge access (United Club Infinite Card) are useless until travel resumes. |
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Citi Cards
Prestige
| Trend | Citi Prestige | ||
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Between May and December this year, purchases at Supermarkets and Restaurants (including takeout) count toward the card’s $250 Travel Credit benefit. This makes it easier than ever to maximize this perk. On the other hand, the Prestige card’s travel benefits (such as Priority Pass lounge access) aren’t getting much use these days. | ||
| Nov 2019 Trend: DOWN “When Citi first announced major changes to the Prestige card, including ruining the 4th Night Free benefit, I saw more good than bad in those changes. The ability to earn 5X transferable points for travel & dining on a card with excellent travel protections was insanely great. But now that Citi has dropped nearly all travel & purchase protections, I can’t justify using this card for travel. Is 5X dining enough to make this card a keeper? Probably not.” |
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Premier
| Trend | Citi Premier | ||
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In April we learned about significant changes that are in the works for the Citi’s $95 Premier card. Starting August 23rd, the card will have the following category bonuses: 3X at grocery stores (prev 1X), 3X at restaurants (prev 2X), 3X for air travel, hotels, and travel agencies (previously 3X for all travel), 3X at gas stations (unchanged), and 1X for entertainment (previously 2X). Those changes are mostly good. On the other hand, as of April 10, 2021, cardholders will no longer be able to redeem points for 1.25 cents each for travel. Still, in my opinion, the ability to earn 3X at grocery stores is a huge win that outweighs the 1.25 loss. And it makes the Premier an even better key component of Citi’s awesome trio: Double Cash, Premier, and Rewards+. | ||
| Nov 2019 Trend: UP “Other than losing travel & purchase protections, the Citi Premier card hasn’t changed much. It still offers solid bonus categories: 3X for travel and at gas stations; and 2X for dining and entertainment. The $95 Premier card benefits from the falling fortunes of the $495 Prestige card and the rising fortunes of the fee-free Citi Double Cash. You still need the Premier or Prestige card to retain the ability to transfer ThankYou points to airline partners and the Premier card is a much cheaper option for doing so. Also, while the Prestige lost its ability to buy airfare at better than 1 cent per point value, the Premier retains its ability to purchase any travel booked through the ThankYou portal at 1.25 cents per point value.” |
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Double Cash
| Trend | Citi Double Cash | ||
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The Citi Double Cash card is a unique hybrid. On the one hand, it’s a solid fee-free 2% everywhere cash back card. On the other hand, its capability of converting cash rewards to Citi ThankYou points makes the card an awesome choice for anyone wanting to earn additional transferable points (which can be transferred to airline miles 1 to 1). I gave the Double Cash an up arrow because, for many, it makes more sense to earn cash back than points during the current recession. But unlike any other cash back card, with Double Cash you always have the option of getting more value from your rewards by converting to points and then to miles (when paired with the Citi Premier or Prestige card). For more, see: Citi Double Cash Complete Guide. |
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| Nov 2019 Trend: UP (WAY UP) “The fee-free Double Cash card’s stock went up, way up, when it gained the ability to transfer cash back to ThankYou points. Now, you can earn 2X points per dollar, uncapped. And as long as you or a trusted friend or family member has a Prestige or Premier card, you can transfer those points to valuable airline programs. Of course, adding to the rising value here is the fact that Citi ThankYou points are transferable to Turkish Miles & Smiles which can be used to book flights to Hawaii for only 7.5K points one-way!See our Double Cash Complete Guide for more.” |
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Costco Anywhere Visa
| Trend | Costco Anywhere Visa | ||
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The Costco Anywhere Visa is a really good fee-free rewards card, especially when paired with a 2% cash back everywhere card. However, Costco rewards can be redeemed only once per year. The cardholder receives a rewards certificate on or shortly after their February statement closing date. Then, the cardholder must go in-person to Costco to exchange the certificate for cash or merchandise. This once per year thing is an awful policy. That hasn’t changed. What has changed is that the policy seems to me to be even more awful when viewed in light of the current pandemic and economic recession. Come on Costco, give cardholders their rewards whenever they want them, and let them cash them out online. |
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| Nov 2019 Trend: UP “The Costco Anywhere Visa hasn’t changed. It was already an excellent cash back card. What has changed is that the Uber Visa card is now practically useless.” |
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Problem with Citi Prestige is I bet many of us used the $250 travel credit by now because it’s so incredibly simple to use
An Amex rep I chatted with said Gift Cards will NOT count toward the $250 restaurant credit for Hilton Aspire. Since my AF hit May 12 and I’ve not taken advantage of the $250 resort credit, I plan to spend $250 on restaurants before I (probably) downgrade by June 12. Anyone else have DPs on restaurant GCs?
Has usbank altitude offered anything? Their travel benefits have been nerfed now too
Nothing that I’m aware of, but on the plus side I think that the Altitude’s 3X for mobile wallet payments has become more valuable. More and more vendors are accepting contactless payments as one way to help maintain social distancing.
Ritz card should probably be a down arrow overall. You forgot to factor in that the $300 travel credit is now impossible to use and Chase hasn’t made any of the accommodations Amex has made to be able to use it on grocery instead. So it’s essentially a $300 higher annual fee for those of us who always made sure to use that credit on airline incidentals.
I agree even though I will probably still keep it.
I agree, Rob. 6x grocery spend for 3 months is hardly enough to keep the RC card off the chopping block.
You’re absolutely right. I added that issue and changed Ritz to a down arrow.
Agree. My af us coming up and I called in to see if there was anything they could offer. Nothing at all. This’ll be a hard one for me to keep.
More difficult to use than usual? For sure. But if you’re booking any 2021 travel, it’s not necessarily impossible to use. I’ve used some of mine, and this reminds me I need to add a DP to our page on that.
Well, I’m not booking any travel for 2021 as of yet, but still, the major categories where this incidental credit usually gets used up on for me are things like lounge fees, wifi & change fees. Even if travelling in 2021, you won’t pay for the lounge or wifi until you are travelling in 2021, and most airlines aren’t charging change fees. I’m sure you can use some of the credit on award booking fees now, but it’ll be mighty hard to use up $300 of credit on $5.60 award booking fees…at least for me.
Has there been any anecdotal information regarding how different cards or issuers have handled chargebacks from merchants unwilling to give refunds during the pandemic? Many people in our crowd have booked travel starting mid-March 2020 and, therefore, I would argue that if one of the above stands out as most willing to stand behind their customers, in this respect, should earn our continued loyalty.
That’s a great idea. I’m not aware of that info, but it would be a great addition.
Two data points with regard to international travel: I have an airline (Delta) that cancelled my flight home and still hasn’t given me a refund, and a vendor that won’t respond to my request for a refund on a Tourism Bus Pass that was useless because of COVID restrictions. Amex Business Plat and Amex Green, respectively, and Amex was great, once I gave them some documentation in the form of forwarded emails, about refunding both. I think Amex customer service in general is great; they sort of have to be, given their greater dependence (as opposed to Chase, and Citi) on credit cards.
Thanks for the overview.
With regards to the AMEX Hilton Aspire Card, you indicated that the $250 resort credit could temporarily be applied towards purchases at US restaurants. However, the email I received from them did not mention the US restriction. Did I miss that somewhere?
As for the Citi Double Dash, I think it should be noted that there is a 3% foreign exchange fee with this card.
Hi Michael. I’m not sure the U.S. distinction matters much to most readers right now since most aren’t traveling internationally. Anyway, the “U.S. Restaurants” came from the Amex press release about the COVID related enhancements. It’s possible that they had made a mistake in that announcement, but it’s safer to just complete the spend in the US if possible. Here’s the press release: https://about.americanexpress.com/press-release/business-charge-cards/american-express-helps-consumers-and-small-businesses-get-most