Federal regulators have finalized a rule to cap credit card late fees, closing a loophole the Consumer Financial Protection Bureau claims has been long exploited by large credit card issuers. The CFPB finalized the rule Tuesday, thus lowering the typical late fee from $32 to $8 for credit card issuers with 1 million or more open accounts and continuing President Joe Biden's push to eliminate fees on travel and credit cards.
I make my credit card points go further with one extra step that makes a huge difference
19.02.2024 - 18:33 / insider.com / Chase Sapphire-Preferred / Airlines / Credit Card
When redeeming my Chase Sapphire Preferred credit card points for flights and hotel stays, I used to book everything through the Chase Travel Portal.
Then, I came across a TikTok by travel blogger Nikki On Her Way explaining how Chase credit card points are worth more when you transfer them to airline and hotel partners.
I decided to try it and was shocked by how much more value I could get from my points with just one extra step.
Replying to @thelifeofemmy why i almost always recommend you utilize transfer partners rather than your card’s travel portal to make the most of your points and miles. In the travel portal, your points have a fixed redemption rate, meaning you will pay based on the cash price of the ticket. But, if you transfer your points or miles to an airline partner, you can find the same exact flight for much less. This is how you maximize your points and miles to get the most out of them! #pointsandmiles #traveltips #traveltheworld #travelonabudget #traveltok #pointsandmilestravel
With the Chase Sapphire Preferred card, each point is worth a fixed 1.25 cents on travel booked through the Chase Travel Portal, meaning 100 points equals $1.25.
However, Chase Ultimate Rewards also partners with 14 airline and hotel loyalty programs, where points often have more spending power. To maximize the value of your points, you can transfer them from your Chase account to your accounts with affiliated programs like IHG Rewards Club or United MileagePlus to get more bang for your buck.
I experienced this firsthand while looking into flights to St. Louis to visit family. In the Chase Travel Portal, the Southwest flight I wanted would have cost all 21,887 points I have saved up, plus an additional $16 to cover the remaining difference.
When I browsed Southwest Airlines' website, I found that the same flight cost just 10,391 points plus an additional $5.60 — a difference of 11,496 points and $10.40.
If I wanted to fly to St. Louis in style in Business Select, I could have done so for 20,791 points and still spent fewer points than the cost of the regular flight in the Chase Travel Portal.
Transferring the points from Chase to spend through Southwest was easy. I selected "Transfer points to partners" from the Chase Travel Portal's menu, connected my Southwest Rapid Rewards account, and typed in the number of points I wanted to transfer. A few minutes later, the points populated in my Southwest account, and I was able to book the flight directly on the airline's website.
I'm certainly not the first person to discover this hack, but I was surprised by how many of my friends had no idea that this option existed when I told them how I'd saved thousands of points.
Now that I know how to transfer points to
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