Chase offers cards across multiple categories, each built for different spending patterns and financial goals

Chase issues cards in five main categories: cash back, travel rewards, business, student, and secured. Within each category, the specific card you choose depends on how much you spend, what you spend on, and whether you want to pay an annual fee for higher rewards or benefits. A card that works well for someone who travels frequently and spends $15,000 a year on flights will not work for someone who spends $800 a year on groceries and gas.

The cards also differ in what they require to open an account. Some have no annual fee and no minimum credit score requirement. Others require good or excellent credit, and some charge $95 to $550 per year. Understanding these differences upfront helps you narrow down which cards are worth considering for your situation.

Key Takeaways

  • Chase cash back cards work best if you spend consistently across everyday categories like groceries, gas, and dining, and do not want to track rotating bonus categories.
  • Chase travel cards make sense only if you spend enough on flights, hotels, and dining to earn rewards worth more than the annual fee.
  • Chase business cards require a business tax ID or sole proprietorship documentation, and most charge annual fees starting at $95.
  • Chase secured cards are designed for people building or rebuilding credit, and the deposit you put down becomes your credit limit.
  • Comparing the annual fee against your expected rewards earnings tells you whether a card will save you money or cost you money over a year.

Chase Cash Back Cards: Flat-rate and category-based options

Chase's cash back cards fall into two types: flat-rate cards that earn the same percentage on all purchases, and category cards that earn higher percentages on specific spending categories and a lower rate on everything else.

The Chase Freedom Unlimited card earns 1.5% cash back on all purchases with no annual fee. This card works well if you do not want to track bonus categories or rotate cards based on what you are buying. You earn the same rate whether you are at a grocery store, a gas station, or a restaurant.

The Chase Freedom Flex card earns 5% cash back on rotating categories that change each quarter (groceries, gas, restaurants, and others), 1% on everything else, and charges no annual fee. This card requires you to set up each quarter's bonus category to earn the higher rate. If you forget to set up or do not spend much in the bonus categories, you earn only 1% on most purchases.

The Chase Freedom Rise card earns 1.5% cash back on all purchases and has no annual fee, but is designed for people with limited credit history. It reports to all three credit bureaus and has no foreign transaction fees, which makes it useful if you travel internationally.

Chase Travel Rewards Cards: Points that transfer or redeem for flights and hotels

Chase travel cards earn points instead of cash back, and the value of those points depends on how you redeem them. Points redeemed through Chase's travel portal are worth roughly 1 cent each, but points transferred to airline or hotel partners can be worth more or less depending on the partner and the specific redemption.

The Chase Sapphire Preferred card charges a $95 annual fee and earns 2 points per dollar on travel and dining, 1 point per dollar on everything else. The card includes a $50 annual travel credit that offsets part of the fee. The points can be transferred to airline and hotel partners or redeemed through the Chase travel portal at 1.25 cents per point if you have the Sapphire Preferred.

The Chase Sapphire Reserve card charges a $550 annual fee and earns 3 points per dollar on travel and dining, 1 point per dollar on everything else. It includes a $300 annual travel credit, a $100 dining credit, and lounge access at certain airports. This card is designed for people who spend at least $20,000 to $30,000 per year on travel and dining to earn back the annual fee in credits and rewards.

The Chase Ink Business Preferred card is a business version of the Sapphire Preferred, charges a $95 annual fee, and earns 3 points per dollar on the first $25,000 spent in combined travel, shipping, internet, cable, and phone purchases each year, then 1 point per dollar after that. It is designed for business owners who can concentrate spending in those categories.

Chase Business Cards: Sole proprietors and registered businesses

Chase business cards require either a business tax ID (EIN) or documentation that you operate as a sole proprietor. You will need to provide your business name, business address, and estimated annual revenue when you open an account. Some cards also require a personal may provide, meaning you are personally responsible if the business does not pay the bill.

The Chase Ink Cash card charges no annual fee and earns 5% cash back on the first $25,000 spent in combined internet, cable, phone, and gas station purchases each year, then 1% after that. It also earns 2% on restaurants and office supply stores, and 1% on everything else. This card works for small businesses with concentrated spending in those categories.

The Chase Ink Unlimited card charges no annual fee and earns 1.5% cash back on all purchases. It is the business equivalent of the Sapphire Unlimited for people who do not want to track categories.

The Chase Ink Business Premier card charges a $195 annual fee and earns 3% cash back on the first $25,000 spent in combined internet, cable, phone, and shipping purchases each year, then 1% after that. It also earns 2% on dining and gas, and 1% on everything else. This card is designed for businesses with higher spending that can justify the annual fee.

Chase Secured Cards: Building credit from scratch

The Chase Secured Visa card requires a cash deposit between $200 and $2,500, which becomes your credit limit. You make monthly payments like any other card, and the deposit stays in a separate account earning a small amount of interest. After you demonstrate responsible payment for a set period (usually 6 to 18 months), Chase may convert the card to an unsecured card and return your deposit.

This card charges a $39 annual fee and earns 1% cash back on all purchases. It reports to all three credit bureaus, so your payment history builds your credit score. The card has no foreign transaction fees, which is useful if you travel internationally.

How to compare cards by your actual spending

To determine which card makes sense for you, calculate your annual spending in each category and multiply by the rewards rate. Then subtract the annual fee. If the result is positive, the card pays you. If it is negative, the card costs you money.

For example: You spend $3,000 per year on groceries, $2,000 on gas, $4,000 on dining, and $6,000 on everything else. The Chase Freedom Flex earns 5% on groceries and gas (when activated), 1% on dining, and 1% on everything else. That is ($3,000 × 0.05) + ($2,000 × 0.05) + ($4,000 × 0.01) + ($6,000 × 0.01) = $150 + $100 + $40 + $60 = $350 per year. With no annual fee, you earn $350.

If you were considering the Sapphire Preferred at $95 annual fee, you would earn 2 points per dollar on the $4,000 dining ($80 value at 1 cent per point), 1 point per dollar on the $15,000 other spending ($150 value), minus the $95 fee = $135 per year. In this scenario, the Freedom Flex earns more.

Annual fees and when they make sense

A card with an annual fee only makes sense if the rewards you earn exceed the fee. Some cards include credits that reduce the effective fee: the Sapphire Preferred's $50 travel credit means you pay $45 in net fees if you use the credit. The Sapphire Reserve's $300 travel credit and $100 dining credit mean you pay $150 in net fees if you use both credits.

If you do not travel or dine out regularly, a high-fee card will cost you money. If you travel frequently and spend heavily on dining, the credits and higher earning rates can make the fee worthwhile. The key is to calculate your own numbers rather than assuming a card is "worth it" because it is popular.

Frequently Asked Questions

What credit score do I need to open a Chase credit card?

Chase does not publish minimum credit scores, but most of its rewards cards require good to excellent credit (typically 670 or higher). The Chase Freedom Rise and Chase Secured Visa are designed for people with limited or lower credit history. You can check your credit score for free through your bank or a service like Credit Karma before you explore.

Can I have multiple Chase cards at the same time?

Yes. Many people hold both a cash back card and a travel card, or a personal card and a business card. Chase does limit how many cards you can open in a certain time period (sometimes called the 5/24 rule), but the exact rules vary. Contact Chase directly if you want to know whether you can open a second card.

Do I have to pay interest if I carry a balance?

Yes. All Chase credit cards charge interest on balances you do not pay in full by the due date. The interest rate (APR) varies based on your creditworthiness and the specific card. Carrying a balance means you pay interest charges that usually exceed any rewards you earn, so paying in full each month is the most cost-effective way to use any rewards card.

What happens if I close a Chase card after opening it?

Closing a card does not when ready hurt your credit score, but it does reduce your total available credit, which can lower your score slightly. If you opened the card for a sign-up bonus and want to close it after earning the bonus, wait at least a few months to avoid being flagged as a bonus hunter. Some people keep cards open even after earning the bonus to maintain available credit.

How do I transfer Chase points to an airline or hotel?

Log into your Chase account online, go to the rewards section, and select "Transfer Points." You will see a list of airline and hotel partners you can transfer to. Transfers are usually when ready or take one to two business days. The value of your points depends on the partner and the specific redemption, so compare the point value before you transfer.