Expedia Group has launched One Key, a loyalty program that allows you to earn and redeem rewards across three of its travel brands — Expedia, Hotels.com and Vrbo.
The One Key program allows users to earn OneKeyCash, which is essentially cashback you can use on future bookings. Notably, you'll be able to earn OneKeyCash on Vrbo bookings, making it the only major vacation rental booking site to offer a loyalty program. However, the program isn't exceptionally rewarding for airfare and it's light on meaningful benefits for elite members.
Below, CNBC Select has the details on how to earn and redeem rewards through the One Key program. Plus, we take a look at when it makes sense to use this new program and the most rewarding credit cards to use.
How does One Key work?
One Key members earn OneKeyCash, which is a form of cashback you can use to pay for travel, activities and other bookings you make through Expedia, Vrbo or Hotels.com. The program is currently only available in the U.S. but will expand globally in 2024.
If you previously had accounts with Expedia, Hotels.com or Vrbo, those accounts will be merged into the new program, if you used the same email for each program. However, if you used multiple emails for these accounts, then you'll need to update your accounts to the same email address if you want to utilize a single One Key login.
For anyone with rewards in the Expedia Rewards or Hotels.com Rewards programs, existing balances will convert to OneKeyCash. Expedia Rewards points will convert to OneKeyCash at a rate of one cent per point, so 100 points equals $1. Since Hotels.com reward nights have a cash value, the conversion is easier. The cash value of each Hotels.com reward night will directly convert into OneKeyCash, so a $123 reward night is worth $123 in OneKeyCash. If you earned stamps under the old Hotels.com Rewards program but didn't earn 10 stamps for a reward night, then those stamps will be converted into OneKeyCash at a rate of 10% of the value of each stamp. For example, if you have three stamps with an average value of $200 each, you would receive $20 in OneKeyCash per stamp or $60 total.
How to earn OneKeyCash
One Key members earn 2% back on bookings made through Expedia, Hotels.com or Vrbo, including eligible:
- Car rentals
- Vacation rentals
- Activities
- Cruises
- Vacation packages
- Hotels
Flights only earn 0.2% back when not part of a package, and you don't earn rewards on taxes and fees. Unlike traditional frequent traveler programs, when booking travel for multiple people, the account that makes the booking will earn all of the rewards.
Keep in mind that when you book travel with the One Key program, you'll be able to stack the rewards on top of what you may earn with a travel credit card. And when you're booking flights, you'll typically still be able to earn frequent flyer miles and elite status credit with an eligible airline loyalty program. However, you typically won't earn points or be able to take advantage of elite status perks when booking hotels or car rentals through third-party sites like Expedia.
While the 2% return on most bookings is solid, you may be better off booking airfare elsewhere. For example, the American Express Platinum Card® earns 5X Membership Rewards® points when you book airfare directly with the airlines or through American Express Travel®. Experts generally value Membership Rewards points at two cents each, so you're effectively earning 10% back on airfare, which trumps the 0.2% OneKeyCash you'd earn booking airfare through Expedia. Terms apply.
The American Express Platinum Card® is a premium card loaded with annual statement credits, entertainment benefits, extensive airport lounge access, elite status perks and more. (Enrollment required for select benefits mentioned)
- Access to 1,550+ airport lounges, including Priority Pass™ lounges (enrollment required) and Amex Centurion lounges
- Statement credit offers worth up to twice what the annual fee costs
- Elite status perks for hotels and rental cars (Enrollment required for select benefits mentioned)
- High annual fee
- Many statement credit offers are complicated and are earned in increments or limited to specific purchases
- Not as rewarding for purchases as other lower-fee travel cards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- You may be eligible for as high as 175,000 Membership Rewards® points after you spend $12,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount – all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Get more for your travels with 5X Membership Rewards® points on all flights and prepaid hotel bookings through American Express Travel®, including Fine Hotels + Resorts® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel® on up to $500,000 on these purchases per calendar year.
- With over 1,550 airport lounges - more than any other credit card company on the market* - enjoy the benefits of the Global Lounge Collection, over $850 of annual value, with access to Centurion Lounges, 10 Delta Sky Club visits (subject to visit limitations) when flying on an eligible Delta flight, Priority Pass™ membership (enrollment required), and other select partner lounges. *As of 01/2026
- $200 Uber Cash + $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
- $300 Digital Entertainment Credit: Experience the latest shows, news and recipes. Get up to $25 in statement credits each month when you use your Platinum Card® for eligible purchases on Disney+, a Disney+ bundle, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV when you purchase directly from one or more of the providers. Enrollment required.
- $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts® or The Hotel Collection* bookings through American Express Travel® using the Platinum Card®. *The Hotel Collection requires a minimum two-night stay.
- $400 Resy Credit + Platinum Nights™ by Resy: Get up to $100 in statement credits each quarter when you use the Platinum Card® to pay for eligible purchases with Resy, including dining purchases at over 10,000 qualifying U.S. Resy restaurants. Enrollment required. As a Platinum Card® Member you have special access to reservations on select nights at participating sought after Resy restaurants in select cities through Platinum Nights™ by Resy. Simply add your Platinum Card® to your Resy profile to book your reservation.
- $219 CLEAR+ Credit: CLEAR+ helps get you to your gate faster by using your face to verify you are you at 55+ airports nationwide. You can cover the cost of a CLEAR+ Membership* with up to $219 in statement credits per calendar year after you pay for CLEAR+ with your Platinum Card®. *Excluding any applicable taxes and fees. Subject to auto-renewal.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
- Start your vacation sooner and keep it going longer. When you book Fine Hotels + Resorts® through American Express Travel®, enjoy noon check-in, when available, and guaranteed 4PM late check-out.
- $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That's up to $300 in statement credits each calendar year. Enrollment required.
- $155 Walmart+ Credit: Get up to a $12.95* statement credit back each month after you pay for a monthly Walmart+ membership (subject to auto-renewal) with your Platinum Card®. *Up to $12.95 plus applicable taxes on one membership fee.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- $895 annual fee.
- Terms Apply.
- See Rates & Fees
Balance transfer fee
N/A
Foreign transaction fee
None
One Key elite status
In addition to rewards, One Key offers four status levels that can be reached by accumulating a certain number of "trip elements" in a year. The following qualify as one trip element:
- Hotel room night (each night counts as one trip element)
- Car rental day
- Cruise night
- Activity ticket (theme park tickets, tours, etc.)
- Vacation rental night
- Flight ticket (one-way or round-trip)
- Round-trip ground transportation: (airport shuttles, transfers, etc.)
A trip element must be worth at least $25 (not including taxes and fees) to qualify. Since you can earn multiple trip elements on a single booking, you could quickly move up the elite status tiers with just a few bookings. For example, if you booked a vacation rental for five days and a rental car for five days, you could earn 10 trip elements on that trip.
The four status tiers break down as follows:
- Blue (standard tier upon sign-up): Save 10% or more with member pricing.
- Silver (five trip elements in a calendar year): A 15% discount at select hotels, 50% OneKeyCash bonus at VIP Access properties (Expedia and Hotels.com only), an extra perk at VIP Access properties (i.e. food and beverage discounts), priority traveler support
- Gold (15 trip elements in a calendar year): A 20% discount at select hotels, 2X OneKeyCash at VIP Access properties, room upgrades (when available) at VIP Access properties, extra perks such as food and beverage discounts at VIP Access properties, Price Drop Protection on eligible flights, priority traveler support
- Platinum (30 trip elements in a calendar year): All of the Gold benefits, 3X OneKeyCash at VIP Access properties
It's not particularly difficult to earn elite status in the One Key program, but the status isn't exceptionally rewarding either. Many of the best benefits, such as bonus rewards and room upgrades, only apply to select VIP Access properties. If you're loyal to a particular hotel chain, earning rewards with that specific program could be more valuable. However, the Price Drop Protection is a nice feature for flights and it's easy to use. The price tracking and refund processes are automated — if you qualify, the refund process starts automatically after the trip ends.
Pro tip: Capital One cardholders can take advantage of free price drop protection when booking through the Capital One Travel portal.
How to redeem OneKeyCash
Using your OneKeyCash is straightforward. You can redeem your rewards to either fully or partially offset the cost of a "Pay Now" booking for a participating hotel stay, vacation rental, car rental or activity. If you have $75 in OneKeyCash and you're booking a $150 hotel room, you could use your rewards and only pay $75 out of pocket.
Redeeming rewards for flights works similarly, but you can't make partial redemptions. If you want to use rewards on airfare, you'll need to have enough OneKeyCash in your account to cover the entire ticket, including taxes and fees.
You can use OneKeyCash to book travel for others, but you can't pool or transfer rewards between accounts, and OneKeyCash can't be redeemed for cash. OneKeyCash doesn't expire as long as you have activity in your account once every 18 months.
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Best credit cards to use with One Key
The rewards you earn with One Key stack on top of the rewards you earn with your credit card, which allows you to significantly increase the return on your purchase. You'll also be able to take advantage of other credit card benefits such as trip delay insurance, baggage delay reimbursement and trip cancellation/interruption insurance.
The Chase Sapphire Reserve® (see rates and fees) has excellent built-in travel insurance benefits and it comes with an annual travel credit of up to $300, which helps offset the card's $795 annual fee. After you earn the card's travel credit, you'll earn 4X Chase Ultimate Rewards® points on flights and hotels booked direct. Ultimate Rewards points are useful because they can be redeemed for cash back, used to book travel or transferred to various airline and hotel partners.
The Chase Sapphire Reserve® is a standout premium credit card with luxury perks including, hotel credits, complimentary hotel elite status, travel credits, dining credits, rideshare and delivery benefits and much more.
- Access Priority Pass lounges, including unlimited access to Chase Sapphire Lounge® by The Club locations.
- Up to $300 in annual travel credit each account anniversary year
- You can transfer rewards to all of Chase's travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Top-tier travel and shopping protections
- High annual fee
- Requires a high credit score
- Complicated list of benefits
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
- Get $3,000 in annual value with Sapphire Reserve.
- Earn 8x points on all purchases through Chase TravelSM, including The EditSM and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Access over 1,300 airport lounges worldwide with a complimentary Priority PassTM Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
- Get complimentary subscriptions to Apple TV and Apple Music for a minimum of one year when activated by June 22, 2027, a value of $288 annually.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
If you prefer a card with a lower annual fee, consider the Capital One Venture Rewards Credit Card, which only has a $95 annual fee. It earns a flat 2X miles per dollar on every purchase, which can be used to offset travel purchases or transferred to Capital One's various travel partners.
The Capital One Venture Rewards Credit Card has a reasonable annual fee and earns flexible travel rewards, which makes it a great travel card for both beginners and frequent travelers.
- Valuable welcome offer
- You can transfer miles to Capital One's travel partners
- Global Entry or TSA PreCheck application fee credit
- No foreign transaction fees
- Lacks ongoing travel benefits such as statement credits or lounge access
- Limited bonus spending category that only applies to certain Capital One Travel bookings
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- LIMITED-TIME OFFER: Enjoy $300 to use on hotel and vacation rental bookings through Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening – that's more than $1,000 in travel value
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app
Balance transfer fee
$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Foreign transaction fee
None
Bottom line
The new One Key program offers rewards for eligible bookings with Expedia, Hotels.com and Vrbo. Most types of bookings earn a decent 2% return and the rewards are easy to redeem. Just be sure to price shop so you know you're getting the best deal outside of any rewards you'll earn.
However, the program isn't the most rewarding for booking airfare, and depending on what credit card you have, you may be better off booking direct. Also, the elite status benefits of the One Key program are fairly slim and generally aren't as widely applicable or as valuable as what frequent travelers can receive with some hotel loyalty programs.
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For rates and fees of the American Express Platinum Card®, click here.
