Travel & Loyalty Glossary.

Chase's unofficial policy of denying most credit card applications if you've opened 5+ new credit cards (any issuer) in the past 24 months. Critical for card strategy planning.

A partnership between airlines for codesharing, lounge access, and mileage earning. The three major alliances: Star Alliance, oneworld, and SkyTeam.

The yearly charge for holding a credit card. Premium travel cards range from $95-$695 but often offer benefits exceeding the fee.

A published table showing the number of points/miles required for flights or hotel stays by region and cabin class. Programs are increasingly moving to dynamic pricing without charts.

A flight or hotel stay booked using points or miles instead of cash. Also called a reward ticket.

Earning extra points/cash back on specific spending categories. Example: 4x points on dining and groceries, 3x on flights, 1x on everything else.

The standard measure of point value. Calculated as (cash price - taxes/fees) / points required x 100. Higher CPP = better redemption value.

American Express's proprietary network of premium airport lounges. Considered among the best in the US. Access requires an Amex Platinum card or higher.

The practice of repeatedly opening credit cards for their welcome bonuses, then closing or downgrading them. Issuers have rules to limit this (e.g., Chase 5/24, Amex once-per-lifetime).

A private biometric identity verification service that lets you skip the ID check line at airports. Not a replacement for TSA PreCheck but works alongside it. Costs $189/year.

A flight operated by one airline but marketed and sold under another airline's flight number. Codeshare availability may differ from the operating carrier's award availability.

A numerical score (300-850) representing creditworthiness. Most premium cards require 720+. Based on payment history, utilization, length of history, mix, and new inquiries.

A one-time fee to access an airport lounge without membership or credit card access. Typically $40-$75. Available at many lounges.

Flying on a flight solely to reposition yourself, with no purpose at the destination. Common for mileage runners or to take advantage of award availability.

When a loyalty program increases the number of points required for the same redemption, effectively reducing point value. Programs typically devalue over time.

Award pricing that fluctuates based on demand, similar to cash fares. Programs like Delta SkyMiles and Hilton Honors use dynamic pricing with no fixed award chart.

A tier within a loyalty program earned by meeting annual spending, staying, or flying thresholds. Benefits include upgrades, late checkout, bonus points, and priority service.

A fee (typically 3%) charged on purchases made in foreign currencies. Most travel cards waive this fee. Important for international travelers.

A US Customs and Border Protection program providing expedited entry to the US for pre-approved travelers. Includes TSA PreCheck. Costs $100 for 5 years (often reimbursed by premium cards).

A formal credit inquiry that appears on your credit report when you apply for a credit card or loan. Temporarily lowers your score by 5-10 points. Falls off after 2 years.

Credit card benefit that provides reimbursement for essential items if your checked luggage is lost or delayed by the airline.

The ability to enter an airport lounge before your flight. Can be obtained through credit cards, elite status, day passes, or premium cabin tickets.

Techniques to generate credit card spending without real purchases, to meet minimum spend or earn bonus points. Examples: gift card purchases, money order funding.

The amount you must charge to a new credit card within a specific timeframe to earn the welcome bonus. Typically $3,000-$8,000 in 3-6 months.

An itinerary that combines different cabin classes across segments (e.g., business class on the long-haul flight, economy on the short domestic connection).

An airline alliance with 13 members including American Airlines, British Airways, Cathay Pacific, Qantas, Japan Airlines, and Iberia.

A routing where you fly into one city and out of another (e.g., NYC to London, Paris to NYC). Many award programs allow this at no extra cost.

Using one airline's miles to book a flight on a different airline (alliance partner or direct partner). Often the best value, especially for international premium cabins.

The estimated value of a point in a loyalty program based on typical redemption values. Used to compare programs and decide whether to buy, transfer, or earn points.

Moving points from a bank rewards program (like Chase UR or Amex MR) to an airline or hotel loyalty program.

An Amex pop-up message during application stating you're ineligible for the welcome bonus, usually because of previous card churning. The card may still be approved but without the bonus.

A separate (usually cheap) flight taken to reach an airport with better award availability or routing options.

The world's largest independent airport lounge network with 1,400+ lounges. Access is included with several premium credit cards (Amex Platinum, CSR, Venture X).

Converting an existing credit card to a different card from the same issuer without closing the account. Preserves credit history length. No new hard pull required.

Miles that count toward earning elite status (not to be confused with redeemable miles). Also known as Elite Qualifying Miles (EQM) or Premier Qualifying Points.

Credit card benefit providing primary or secondary collision damage waiver when renting a car. Primary coverage (Chase Sapphire Reserve) means you don't need to file with your personal auto insurance first.

A flight or hotel stay purchased with cash at the regular price, as opposed to an award booking.

The lowest-cost award redemption level, requiring fewer points. Availability is limited. Opposite of 'standard' or 'everyday' pricing which costs significantly more.

See Welcome Bonus. The initial bonus offered to attract new cardholders, typically requiring $3,000-$8,000 in spending within 3-6 months.

An airline alliance with 19 members including Delta, Air France-KLM, Korean Air, Aeromexico, and ITA Airways.

A credit check that does not affect your credit score. Used for pre-approval checks and some card applications (e.g., Amex for existing customers).

The largest airline alliance with 26 members including United, Lufthansa, ANA, Singapore Airlines, Air Canada, and Turkish Airlines.

When a hotel or airline grants you comparable elite status based on your status with a competing program. Used strategically to try new programs.

A deliberate extended layover (24+ hours) at a connecting city, built into an award ticket at no extra cost on some programs. Allows visiting two cities for the price of one.

An award redemption that offers exceptionally high value compared to the cash price. Often involves partner awards on premium cabin flights.

Points or credits that count toward earning or maintaining elite status, separate from redeemable points. Also called qualifying points, segments, or elite qualifying dollars.

A temporary promotion where transferring points to a specific partner yields extra points (e.g., 30% bonus means 10,000 points become 13,000).

An airline or hotel program that accepts point transfers from a bank rewards program. Chase UR, Amex MR, Citi TYP, Capital One, and Bilt each have their own set of partners.

The exchange rate when transferring points. A 1:1 ratio means 1 bank point = 1 partner point. Amex MR to Hilton transfers at 1:2 (1 MR = 2 Hilton points).

Insurance covering trip cancellation, medical emergencies, baggage loss, and travel delays. Many premium credit cards include comprehensive travel insurance.

Credit card benefit that reimburses expenses (meals, hotel, essentials) when your flight is delayed beyond a threshold (typically 6-12 hours).

A trusted traveler program allowing expedited security screening at US airports (keep shoes/belt on, laptop in bag). Costs $78 for 5 years.

A large one-time points or cash back bonus earned after meeting minimum spending requirements in the first few months (also called sign-up bonus or SUB).