I Can't Stand That Credit Card Rewards Have Been Getting Worse

Travel is a big passion of mine. Because of this, I've spent the last seven-plus years discovering the best travel hacks and using travel rewards credit cards to make travel cheaper. In the last couple of years, I've noticed the credit card rewards landscape has changed significantly, likely because more people are discovering the world of travel hacking.

As rewards credit cards become more popular, card issuers have changed the perks and rewards they provide. Unfortunately, many of these changes don't benefit consumers. I'm finding that credit card rewards are getting worse, and it's frustrating. Here's what I wish would change, and which card I think is getting it right.

I'm sick of annual fee increases

Credit cards with more perks and better rewards opportunities come with high annual fees. I'm willing to pay several hundred dollars in annual fees for a fantastic rewards card, but I need the benefits to match the cost.

I've noticed more credit card issuers increasing the yearly fees for their already-expensive cards. Often, few additional benefits are added to justify the price increase. Adding a perk that is not useful to me doesn't increase the value of my credit card.

I'm sick of credits that are difficult to use

Another thing that I've noticed in recent years is that more credit card issuers are adding monthly, quarterly, or yearly credits to their cards as an incentive. However, many of these credits are not valuable for the average person, or they require the cardholder to use a third-party app that charges additional fees. It shouldn't be this complicated.

For example, some credit cards include monthly food delivery app credits. When you order through these food delivery apps, food and drink items are priced higher than if you were to order directly from the restaurant. Not only are you paying more for the cost of the food, but you're also paying additional fees. That means I'm wasting money to use a credit card perk.

Giving me $10 monthly in food delivery app credits is not helpful. I prefer a direct $10 statement credit to my account after making a dining purchase with my card. I hope that in the future, if more cardholders reject complicated credits like this, things will change for the better.

Here's a travel credit card that gets it right

But the good news is not all credit card benefits, and rewards are going downhill. There are some fantastic rewards credit cards available that are valuable. Here's a closer look at a travel rewards credit card that I feel gets it right when it comes to benefits and rewards.

Chase Sapphire Reserve®

The Chase Sapphire Reserve® (see rates and fees) is a solid option for frequent travelers who like premium perks. While the annual fee is $550, this card includes a yearly $300 statement credit for eligible travel purchases. The best part is that it's a direct statement credit to your account. You don't have to book through a portal or use a third-party app to earn the $300 annual credit.

Don’t miss out: Apply now for the Chase Sapphire Reserve®.

New cardholders can earn 60,000 bonus points as a welcome offer after spending at least $3,000 within three months of account opening. This card also includes a complimentary Priority Pass Select membership. The cardholder and up to two guests can visit participating airport lounges for free. You'll also earn 3 points per $1 on eligible travel and dining purchases.

Review all the details before applying for a new card

Using a rewards credit card is a smart personal finance strategy. But before you rush to apply for a new credit card to add to your wallet, review the rewards and benefits details so you know how to get the most from your card.

Some rewards credit cards are more straightforward to use than others. Check out our list of the best credit cards to learn more.