Why I Chose These 3 Credit Cards for My 'Chase Trifecta'

I recently made the life-altering decision to go full throttle on travel rewards credit cards. Within one month, I applied for and opened an entire Chase Trifecta of credit cards, with the goal of maximizing my reward points. The three cards I chose were:

• Chase Sapphire Preferred® Card
• Chase Freedom Unlimited®
• Chase Freedom Flex℠

Not everyone should apply for this many credit cards so quickly. If your credit score is not where you'd like it to be, if you struggle with excessive credit card spending, if you sometimes miss payment due dates, then the risks might outweigh the rewards. Don't be too blasé about opening new credit cards.

But I'm loving every minute of this new way of life! Travel rewards credit cards are already making a surprisingly positive difference in my personal finances, and I'm excited to keep learning and exploring.

Here are a few reasons why I chose each of these cards for my Chase Trifecta.

1. Chase Sapphire Preferred: Home base for travel rewards

The Chase Sapphire Preferred® Card was the No. 1 priority on my Chase Trifecta list -- and not just because of the 75,000 bonus points welcome offer. My biggest reasons for choosing this travel rewards card are that it can serve as a "home base" for Chase Ultimate Rewards points and it offers a 25% multiplier on the value of reward points when you redeem the points for travel through the Chase Travel portal.

For example, if you have 50,000 points on your Chase Sapphire Preferred® Card, you could exchange them for $500 of cash back as a statement credit -- or you can redeem them for travel purchases (flights, hotels, etc.) and get an extra 25% of value. So your 50,000 points are actually worth $625 of travel. (The 75,000 bonus points from the welcome offer are worth $750 if redeemed for travel.)

This 25% multiplier just feels like a much better deal to me than a regular cash back credit card, because travel (to me) is worth more than money. And that 25% multiplier effect plays out in surprising ways in my everyday spending decisions. For example, the Chase Sapphire Preferred® Card offers 3% points on restaurant purchases -- but with the 25% travel redemption multiplier, that's actually 3.75% if redeemed for travel. I'm now constantly doing mental math to think about how much money I'm earning toward future travel with everyday spending.

2. Chase Freedom Unlimited: Big points on everyday spending

One of the reasons to open a Chase Trifecta is that it helps you cover all your bases for maximum points across spending categories. I chose the Chase Freedom Unlimited® because it has "unlimited" 1.5% points on all purchases. You can use these points for cash back or transfer the points to your Chase Sapphire Preferred® Card and use them for travel. (I'm using all of my points for travel because of that 25% multiplier.)

Your exact details may vary, and terms apply, but the Chase Freedom Unlimited® also gave me an interesting welcome offer: 3% unlimited cash back on all purchases up to $20,000 in the first year. That's a total of $600! Or $750 after transferring the points and redeeming them for travel with the 25% multiplier on the Chase Sapphire Preferred® Card.

3. Chase Freedom Flex: Fun bonus categories

As part of my Chase Trifecta, I also chose the Chase Freedom Flex℠. This card is really fun to use because it gives you 5% bonus cash back/points on up to $1,500 of purchases in specific categories, which rotate each quarter. It makes shopping into a fun little game. There was also a welcome offer of $200 bonus of cash back (redeemable as reward points for $250 of travel) after spending $500 within the first 3 months.

For example, during the first few months that my card account was open, the Chase Freedom Flex℠ was offering 5% bonus points on groceries and personal care (like salons, massage therapy, etc.). So every time my family bought groceries and every time I got a haircut, I was getting an extra 5% of bonus reward points -- or 6.25% if redeemed for travel via Chase Sapphire Preferred® Card.

The new quarterly bonus categories for April–June 2024 are restaurants and Amazon purchases. So every $100 restaurant bill or Amazon delivery purchase that I pay for with the Chase Freedom Flex℠ is earning me points that are worth an extra $6.25 of future travel purchases. If you can max out the 5% reward bonus categories ($1,500 of spending per quarter, or $6,000 per year), you'll get an extra $300 of cash back rewards -- or $375 if the points are redeemed for travel.

Bottom line

Between the Chase Sapphire Preferred® Card, the Chase Freedom Unlimited® and the Chase Freedom Flex℠, within one year, I'm on target to earn a total of at least $2,125 of travel from my Chase Trifecta. And that's just from the welcome offers and special bonus points, not including other everyday credit card spending.

The Chase Trifecta has been a great deal for me so far. I'm a happy Chase credit card customer, and I'm still excited to apply for a Chase business credit card or airline credit card. Apparently Chase has a strict 5/24 rule, where the bank won't approve additional credit card applications if you've applied for more than five cards in 24 months. So I'll be patient...for now.