The Chase Gauntlet: The Best Rewards Cards to Start with First
The best place to start your travel rewards adventure as a real estate investor is by running the Chase Gauntlet.
In our opinion, Chase offers one of the most exciting rewards programs on the market. Not only does it offer a suite of amazing card benefits, but lucrative point values that can take your vacation to the next level. A single Chase sign up bonus can be enough to cover a significant portion of your next trip. However, when stacked together these card benefits will allow you to experience travel rewards at a new level.
Check out our tips on how to enjoy the benefits of the Chase Gauntlet as a real estate investor.
What is the Chase Gauntlet?
The Chase Gauntlet is a fun way of saying signing up for all of the Chase credit cards in a strategic way. Each of these Chase credit cards offers Ultimate Rewards points which are extremely valuable travel rewards currency.
Here are the credit cards:
- Chase Sapphire Preferred. After spending $4,000 in the first 3 months, you will receive 60,000 points as a welcome bonus. Those points can be redeemed for $750 of travel rewards. Plus, you’ll earn 2x points on travel and restaurants. The card has a $95 annual fee that is waived for the first year.
- Chase Sapphire Reserve. Once you spend $4,000 in the first 3 months, you’ll earn a welcome bonus of 50,000 points which can be redeemed for $600 worth of travel. In addition to the signup bonus, you’ll receive 3x points on travel and restaurants. This card also offers a $300 annual travel credit that can help to offset the annual fee of $450.
- Chase Ink Business Preferred. As a real estate investor, you have the option to open business cards as well as personal cards. The Chase Ink Business Preferred offers an outstanding welcome bonus of 80,000 points after you spend $5,000 in the first 3 months. As you use the card, you’ll receive 3x points on travel and select business expenses. The annual fee of $95 will be easy to justify with this card.
Each of these cards offers a worthwhile signup bonus. When combined, you can take your travel rewards experience to the next level. Once you run through the Chase Gauntlet and collect all of these welcome points, you’ll be able to travel in style on points.
What are the rules?
As you consider your strategy for the Chase Gauntlet, it is important to understand the rules. Chase is relatively strict about enforcing the 5/24 rule on customers. The 5/24 rule means that you cannot open more than 5 credit cards within 24 months. So, if you apply to open a Chase credit card after opening 6 other credit cards then you will likely be denied. Even with an excellent credit score, the bank is unlikely to approve your application.
The rule applies even if you’ve closed the other accounts. Unfortunately, there is not a way to skate around this rule. Instead, choose to prioritize Chase credit cards when getting started with travel rewards.
How to maximize these points?
When strategizing to run the Chase Gauntlet as a real estate investor, you may want to consider bringing your spouse on board. Instead of adding them as an unauthorized user, have them sign up for their own account with each card. This will effectively double the number of points you can glean from the Chase Gauntlet with very little downside.
When you are ready to redeem your Ultimate Rewards points, it is important to maximize their value. Although the offers directly in the travel portal are enticing, transferring your points to a travel partner can make them even more valuable. Currently, you can transfer your points to these travel partners:
- British Airways
- Flying Blue
- Singapore Airlines
- Virgin Atlantic
- Aer Lingus
Consider taking advantage of the added value offered by these travel partners. It is good practice to keep your Ultimate Rewards points safely with Chase until you are ready to purchase a flight or hotel through one of the partners. Once you make the transfer, the points will not be eligible to reenter the Chase system. Make sure you are comfortable with your decision before you make the transfer.
The bottom line
Chase offers valuable credit card features to its customers. If you take advantage of the Chase Gauntlet, then you may be on your first fully funded vacation sooner than you think. Especially as a real estate investor because you have the spending capacity to hit each of the welcome bonuses in a responsible way. Be sure to check out the next article in our credit card reward series: https://fibyrei.com/maximize-your-travel-rewards-as-a-real-estate-investor/