Here's What Happened When I Opened the Chase Trifecta in Less Than 2 Weeks
KEY POINTS
- Opening a Chase Trifecta can help you maximize your rewards points.
- The Chase Sapphire Preferred® Card is a great choice to get started in travel rewards cards.
- Chase Freedom Flex℠ and Chase Freedom Unlimited® credit cards offer powerful bonuses, and you can transfer the cash back points to spend on extra travel.
I've never been a big credit card rewards person. But I recently decided to get started with travel rewards credit cards, because I love travel and I want banks to give me a cut of my credit card processing fees. While doing my research, I heard a lot of good things about the Chase Sapphire Preferred® Card, and learned about the concept of the Chase Trifecta.
"Why stop at applying for one credit card when I can apply for all three credit cards?" I said to myself, cackling like a cartoon villain. "I shall use the Trifecta's combined powers to multiply my credit card reward points! Mwa-ha-ha-ha-haaaaa!"
As if in a fever dream, I excitedly (compulsively?) applied for three Chase credit cards in nine days. I don't usually do stuff like this! I'm frugal, I'm responsible, and I have excellent credit. But I was so intrigued about opening the Chase Trifecta that I went a little overboard.
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Here's what happened to my credit score -- and what you can learn from my story.
What is the Chase Trifecta?
Chase credit cards are some of the best rewards cards, and reward points enthusiasts have come up with a concept called the Chase Trifecta. This is a strategy where (if you qualify) you can open three Chase credit card accounts, and use all three cards' unique benefits to maximize your reward points.
This plan works because Chase has a great feature that not all credit card companies offer: you can transfer points between your multiple Chase credit cards. Instead of using points on a cash back card to get a statement credit, you can transfer those points to your Chase travel rewards card, and use the points to buy travel. Chase travel rewards points are often worth more than money -- especially if you have the right Chase travel rewards credit card.
Trifecta-eligible cards include Chase Freedom Flex℠, Chase Freedom Unlimited®, and Chase Sapphire Preferred® Card. In a nine-day whirlwind of activity, I got approved for all three.
How to use the Chase Trifecta
Why do you need three credit cards? Because each card offers different overlapping benefits. Here's why I decided to open each of my three Chase Trifecta cards.
1. Chase Sapphire Preferred® Card
This was the big prize, the Chase Trifecta card that I absolutely had to have. That's because this card has a welcome offer of 75,000 bonus points. It also serves as the "home base" card for using Chase Ultimate Rewards points to buy airline tickets and hotel stays on Chase Travel.
Here were the most important benefits that made me want to apply for this card:
- 75,000 bonus points if you spend $4,000 within 3 months
- 5X points on Chase Travel purchases
- 3X points on restaurants and restaurant delivery
- 3X points on online grocery purchases (with some exceptions like Target, Walmart, etc.)
- 2X points on other travel
The really important thing about this card, aside from the welcome offer, was the 25% extra value when redeeming points to book travel. Those 75,000 bonus points are worth over $900 if I use the points to book travel through Chase Travel. All of those everyday multipliers on spending are worth 25% more if I use the points for travel -- every $100 grocery bill is worth $3.75 of travel.
On Chase's Secure Website.
= Best
= Excellent
= Good
= Fair
= Poor
= Best
= Excellent
= Good
= Fair
= Poor
On Chase's Secure Website.
Good/Excellent (670-850)
Intro APR N/A
Purchases: N/A
Balance Transfers: N/A
Regular APR
21.49%-28.49% Variable
Rewards Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases
Annual Fee N/A
$95
Welcome Offer Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.
75,000 bonus points
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The enormous welcome bonus (worth over $900), bonus points for travel and dining, and $50 annual hotel credit alone make this card well worth the $95 annual fee. What really stands out are the rare travel protections such as trip delay reimbursement, lost luggage reimbursement, and trip cancellation/interruption insurance. It’s the only low annual fee card we’ve seen offer those protections. Read Full Review
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- Big sign-up bonus
- Travel rewards
- Dining rewards
- Flexible travel points
- Consumer and travel protections
- Annual fee
- Limited-time perks
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- Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 75,000 points are worth $937.50 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
- Member FDIC
2. Chase Freedom Unlimited®
The Chase Freedom Unlimited® offers 5% cash back on travel purchased through Chase, 3% at restaurants and drugstores, and unlimited 1.5% cash back on all other purchases. But you don't have to use these points for cash back, you can transfer the points to the Chase Sapphire Preferred® Card and use them for travel. That makes the points worth "more" in travel than they're worth in cash; every 1.5% I earn on this card is actually worth (thanks to that 25% extra value multiplier) 1.875% for travel.
I'm also getting a welcome offer on this card: Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.
On Chase's Secure Website.
= Best
= Excellent
= Good
= Fair
= Poor
= Best
= Excellent
= Good
= Fair
= Poor
On Chase's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR on Purchases and Balance Transfers for 15 months
Purchases: 0% Intro APR on Purchases, 15 months
Balance Transfers: 0% Intro APR on Balance Transfers, 15 months
Regular APR
20.49% - 29.24% Variable
Rewards Enjoy 5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases
1.5% - 5% cash back
Annual Fee N/A
$0
Welcome Offer Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.
Up to $300 cash back
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This card would be highly-rated based on its unlimited 1.5% - 5% cash back rates & 0% Intro APR offer alone. But the innovative sign-up bonus (worth up to $300 cash back) makes it particularly good if this would be your primary credit card. With the bonus, you’ll earn 4.5% cash back on dining and drugstores, 6.5% on travel booked through Chase Ultimate Rewards®, and 3% on all other purchases (on up to $20,000 spent in the first year). After the bonus, you’ll still earn the regular cash back rates on every purchase. Read Full Review
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- Innovative sign-up bonus
- Purchase and travel protections
- Robust rewards program
- Great intro APR
- No annual fee
- Foreign transaction fee
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- INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
- Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
- After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
- Member FDIC
3. Chase Freedom Flex℠
The Chase Freedom Flex℠ is a fun card because it offers 5% bonus cash back on rotating categories each quarter. When the bonus category was groceries, every time I spent $100 on groceries, I got the equivalent of $6.25 of future travel rewards. I also got a $200 bonus for spending $500 within the first 3 months.
Here's an example of how to use the Chase Trifecta to maximize rewards:
- When the Chase Freedom Flex℠ is offering a 5% bonus on groceries, buy all your groceries with that card.
- Re-route your everyday spending through the Chase Sapphire Preferred® Card to earn the 75,000 bonus points welcome offer before the deadline of 3 months. I'm using this card to pay for auto insurance, utilities, health insurance premium, and other monthly bills.
- The Chase Freedom Unlimited® pays 3% rewards on every purchase (up to $20,000 in one year), so I'm using it for other non-bonus spending, like paying my taxes. I'm turning taxes into travel!
On Chase's Secure Website.
= Best
= Excellent
= Good
= Fair
= Poor
= Best
= Excellent
= Good
= Fair
= Poor
On Chase's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR on Purchases
Purchases: 0% Intro APR on Purchases, 15 months
Balance Transfers: 0% Intro APR on Balance Transfers, 15 months
Regular APR
20.49%-29.24% Variable
Rewards 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
5% cash back offer
Annual Fee N/A
$0
Welcome Offer Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening!
$200 bonus
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This Chase card is one of our favorites, and with good reason. You earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, alongside other standout perks (and at least 1% on all purchases). Plus, this one comes without an annual fee and with a generous welcome bonus. Read Full Review
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- Big sign-up bonus
- Lucrative cash back program
- Long 0% intro APR
- No annual fee
- Purchase and travel protections
- Foreign transaction fee
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- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
- No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Flex℠ card
- Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
- Member FDIC
Bottom line
Opening the Chase Trifecta in nine days caused my FICO® Score to go down by (only) about seven points. But not everyone can afford to take a hit to their credit score, so be cautious when applying for new credit cards. And keep in mind that to get the best deal from travel rewards credit cards, you need to be careful not to overspend, and avoid carrying a balance.
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