Travel reward credit cards for trainees

Medical trainees, including students, residents, and fellows, have unique issues when it comes to expenses. In general, I think you should spend a low amount on annual fees and optimize your most common expenses. Trainees can really optimize their points earning with only a few cards. 

Here are my recommendations for transferable points cards. You want to earn transferable points so that you can “transfer” your earnings to multiple different airline and hotel systems for the most flexibility possible.

Bilt:

The Bilt Mastercard is the only card that allows users to earn points on rent, fee-free. This card has no annual fee, earns 1x points on rent, 2x all travel and transit, and 3x on dining. On the first of the month, called "Rent Day", point values double on all spending (except for rent). You can transfer points to travel partners or redeem points at 1.25 cents per point in the travel portal.

Capital One:

The Venture Rewards credit card earns 2x points on everything and 5x hotels and rental cars booked in the Capital One portal. This card has a $95 annual fee and comes with a $120 Global Entry/TSA PreCheck credit, and no foreign transaction fees. You can transfer points to partners or reimburse any travel expenses at 1 cent per point.

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The Savor Cash Rewards credit card has no annual fee and earns 3x points on dining, groceries, and entertainment. On its own, it's a cash back card, but in conjunction with the Venture card, you can transfer the cash to points at 1 cent = 1 point.

Chase:

The Chase Sapphire Preferred card has a $95 annual fee and earns 3x points on dining, streaming, and online grocery stores, 2x points all travel, and 5x points when booking hotels and car rentals through Chase Travel. You get a $50 hotel Chase Travel credit each year, 10% point bonus on all spending each year, no foreign transaction fees, and primary rental car insurance (meaning you can decline insurance on your domestic rental when you charge it to this card). You can transfer points to partners or redeem them in the travel portal for 1.25 cents per point.

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Chase Freedom Unlimited: This card earns 1.5x points on all purchases and 3x on dining and pharmacies. On its own, this card earns cash back, but when paired with the Sapphire Preferred, it earns Ultimate Rewards like the Sapphire cards.

Low cost cobranded cards can also make sense for trainees. If you get a cobranded airline card for the airline you fly the most, the return on free bags and priority seating will typically outweigh the annual fee.