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Jordan Siemens/Getty Images June 01, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Holly Johnson writes expert content on personal finance, credit cards, loyalty and insurance topics. In addition to writing for Bankrate and CreditCards.com, Johnson does ongoing work for clients that include CNN, Forbes Advisor, LendingTree, Time Magazine and more. Liz Bingler is an Associate Editor for CreditCards.com and Bankrate, where she focuses on product news and reviews. As an editor, her goal is to produce content that will help people to make informed financial decisions. Mariah Ackary is a personal finance editor who joined the Bankrate team in 2019, excited by the opportunity to help people make good financial decisions. Send your questions to Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you're well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. The pandemic has changed so much about the way we travel, and some of the changes we’ve seen may be here to stay. For example, many countries have adopted vaccination requirements for COVID-19, and some (including our own) still have testing requirements for entry. Many airlines and hotels were forced to broaden their cancellation and rebooking policies throughout 2020 and 2021, and some of those changes appear to be permanent. For example, American Airlines still has for domestic, short-haul international and select long-haul international flights, and and have similar policies. Many airline and hotel loyalty programs have also made it easier to earn or maintain elite status, either through hotel stays or through spending with a rewards credit card. All of this may make you wonder—what other changes could we see come down the pipeline in 2022? Here are some of the trends to expect: Flexible travel credit cards will remain prominent
Travel credit cards with flexible redemption options will remain popular throughout 2022 as travel uncertainty continues and as consumers focus on rewards that can be redeemed in many ways. After all, one could easily skip over airline credit cards and sign up for a card like the Chase Sapphire Preferred Card or Chase Sapphire Reserve instead. These rewards credit cards let users avoid being locked into a single airline program and instead give them the chance to redeem their rewards for any flight, hotel stay, rental car, experience or cruise that’s available through the Chase Ultimate Rewards portal. Also, remember that the lets users transfer points 1:1 to like Southwest Rapid Rewards, British Airways, United MileagePlus and IHG Rewards. If none of those options work, Chase points can be redeemed for merchandise, gift cards, cash back and more. If you want to make sure you don’t get stuck with points or miles you can’t use, consider checking out other flexible programs like and . Flexible redemption options could be here to stay
Remember the ? This feature lets consumers redeem their points for extra value in certain categories (which have changed over time). Chase has extended this feature through Dec. 31, 2022 for some of its card products. For instance, the Chase Sapphire Preferred lets you get 1.25 cents per point in value for these redemptions and the Chase Sapphire Reserve gets you 1.5 cents per point. Both of these options let you get the same points value as you would through the Chase Ultimate Rewards travel portal. Still, other rewards changes have come about due to the pandemic (and could be permanent). For example, the Capital One Venture Rewards Credit Card and the Capital One VentureOne Rewards Credit Card now have the option to redeem rewards for purchases made through PayPal.com or Amazon.com. The Capital One Venture X Rewards Credit Card, which was introduced in November 2021, also includes these flexible options. Award availability is awful and prices are high
Most of us know that travel prices have surged so far in 2022. In fact, found that the average price for a round-trip flight increased to $464 in February 2022, up from $409 in January. Meanwhile, that hotel prices are up 40 percent this year compared to last. The increase in prices for travel, along with roaring consumer demand, have put those of us who travel with rewards points in a pickle. Available awards are limited due to the surge in demand so far, and programs with dynamic pricing are asking for a ridiculous amount of points or miles for each booking. I have noticed this throughout this year, but I have been lucky that I booked many of my 2022 flights at the end of 2021. That said, I was recently looking at hotel bookings in Hawaii, and I almost couldn’t believe what I saw. A room at the famous Grand Wailea in Maui will run you more than 500,000 Hilton Honors points per night, and that’s if you can find any availability. There are basically no standard night awards available at this hotel and many others—only premium award rates for an exorbitant amount of points. One of my friends asked me to help her find an award flight to Flagstaff, Arizona this summer and, I kid you not, the best I found was a round-trip economy flight on American for 73,000 miles plus taxes and fees. If you’ve been searching for award travel lately, you have likely encountered similar situations. The price is high for almost everything, whether you want to pay in cash, flexible travel credit or rewards points. Earning elite status will still be easier this year
Almost all hotel and airline programs for members into 2022, and many are making it easier to earn elite status in 2022 for the remainder of this year (and 2023 as well). Some programs have just let their elite members keep their status throughout the entire pandemic. For example, the extended elite status for members with status expiring in 2020 and 2021 until March 31, 2023. Marriott Bonvoy members have also seen their through February 2023, whether they earned it in 2019 or 2020. Those who earned Marriott elite status in 2021 already have their status through February 2023. Delta Air Lines is another loyalty program that has for its loyal members. Delta Medallion members can maintain their level of status through Jan. 31, 2023. Look out for new travel credit cards and better bonus offers
Finally, don’t forget that every year brings about new as well as new bonus offers on existing cards. This year won’t be any different, so you should make sure you’re ready to strike while the iron is hot. For example, we’ve recently been seeing higher welcome bonus offers on co-branded Delta Air Lines credit cards. The American Express Gold Card—which finally made its popular permanent—also has a high-value offer right now. Specifically, you’ll earn 60,000 points when you spend $4,000 within six months of account opening. Additionally, the popular Chase Sapphire Preferred Card is offering 60,000 points (worth $750 when redeemed through Chase Ultimate Rewards) for those who spend $4,000 on purchases within three months of account opening. The bottom line
The pandemic has created a lot of uncertainty when it comes to credit card rewards. While the credit cards mentioned above are some of the right now, there’s one thing we know for sure—there are more offers on the way. SHARE: Holly Johnson writes expert content on personal finance, credit cards, loyalty and insurance topics. In addition to writing for Bankrate and CreditCards.com, Johnson does ongoing work for clients that include CNN, Forbes Advisor, LendingTree, Time Magazine and more. Liz Bingler is an Associate Editor for CreditCards.com and Bankrate, where she focuses on product news and reviews. As an editor, her goal is to produce content that will help people to make informed financial decisions. Mariah Ackary is a personal finance editor who joined the Bankrate team in 2019, excited by the opportunity to help people make good financial decisions. Send your questions to Related Articles