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Are you ready to earn rewards on your travels? Our expert guide compares the top travel credit cards to help you find the best fit for your needs. From sign-up bonuses to reward rates, we’ve got you covered.
Travel credit cards can be a valuable tool for individuals who love to travel. These cards offer rewards and benefits specifically designed for travelers, such as airline miles, hotel points, and cashback on travel-related purchases. By choosing the right travel credit card, individuals can save money and earn valuable rewards on their travels.
Top Picks
Here are some of the top travel credit cards to consider:
- Chase Sapphire Preferred: This card offers a sign-up bonus of 60,000 points after you spend $4,000 on purchases in the first three months from account opening. Cardholders earn 2 points per dollar spent on travel and dining and 1 point per dollar spent on all other purchases. Points can be redeemed for travel through the Chase Ultimate Rewards portal at a value of 1.25 cents per point or transferred to partner loyalty programs such as United MileagePlus, Southwest Rapid Rewards, and Marriott Bonvoy. The annual fee is $95.
- American Express Platinum: This premium card offers a sign-up bonus of 60,000 points after you spend $5,000 on purchases in the first three months from account opening. Cardholders earn 5 points per dollar spent on airfare and hotel purchases, as well as 1 point per dollar spent on all other purchases. Points can be redeemed for travel through the American Express Travel portal at a value of 1 cent per point or transferred to partner loyalty programs such as Delta SkyMiles, Hilton Honors, and Marriott Bonvoy. The card also includes a range of travel benefits, such as access to airport lounges and hotel elite status. The annual fee is $550.
- Capital One Venture Rewards: This card offers a sign-up bonus of 50,000 miles after you spend $3,000 on purchases in the first three months from account opening. Cardholders earn 2 miles per dollar spent on all purchases. Miles can be redeemed for travel at a value of 1 cent per mile or transferred to partner loyalty programs such as Avianca LifeMiles and JetBlue TrueBlue. The card also includes a $100 credit for Global Entry or TSA Precheck. The annual fee is $95.
- Discover it Miles: This card offers a sign-up bonus of matching all the miles you’ve earned at the end of your first year. Cardholders earn 1.5 miles per dollar spent on all purchases, with no annual fee. Miles can be redeemed for travel at a value of 1 cent per mile or used to offset travel purchases at a value of 1 cent per mile. The card also includes a 0% intro APR on purchases for the first 14 months, making it a good option for individuals who need to finance a large travel purchase.
- Citi Premier: This card offers a sign-up bonus of 60,000 points after you spend $4,000 on purchases in the first three months from account opening. Cardholders earn 3 points per dollar spent on travel, including gas stations, and 2 points per dollar spent on dining and entertainment. Points can be redeemed for travel through the Citi ThankYou portal at a value of 1.25 cents per point or transferred to partner loyalty programs such as JetBlue TrueBlue and Singapore KrisFlyer. The annual fee is $95.
Comparison Table
| Card | Annual Fee | Sign-Up Bonus | Rewards Rate (Travel) | Rewards Rate (Other) | Rewards Redemption Options |
|---|---|---|---|---|---|
| Chase Sapphire Preferred | $95 | 60,000 points | 2 points per dollar | 1 point per dollar | Chase Ultimate Rewards portal, partner loyalty programs |
| American Express Platinum | $550 | 60,000 points | 5 points per dollar | 1 point per dollar | American Express Travel portal, partner loyalty programs |
| Capital One Venture Rewards | $95 | 50,000 miles | 2 miles per dollar | 2 miles per dollar | Travel redemption, partner loyalty programs |
| Discover it Miles | $0 | Matching miles at the end of the first year | 1.5 miles per dollar | 1.5 miles per dollar | Travel redemption, offset travel purchases |
| Citi Premier | $95 | 60,000 points | 3 points per dollar | 2 points per dollar | Citi ThankYou portal, partner loyalty programs |
How to Choose the Right Card
When choosing a travel credit card, there are several factors to consider:
- Travel patterns: Consider how often you travel and where you typically go. If you primarily fly with one particular airline, a card that earns miles with that airline may be a good fit. If you stay at a variety of hotels, a card that earns hotel points may be more flexible.
- Spending habits: Consider your typical spending on travel-related purchases, such as flights, hotels, and car rentals. A card with a high rewards rate on these types of purchases can help you earn more rewards faster. Additionally, consider your overall spending habits and whether a card with a higher annual fee and more generous rewards structure is worth the cost for your needs.
- Credit score: Most travel credit cards require good to excellent credit, so it’s important to check your credit score before applying. You can check your credit score for free at AnnualCreditReport.com, a website sponsored by the three major credit bureaus.
It’s also important to pay attention to the annual fee and determine whether the benefits and rewards offered by the card justify the cost. Be sure to read the fine print and understand the terms and conditions of each card, including any restrictions or limitations on rewards redemption.
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Other Considerations
There are a few other factors to consider when choosing a travel credit card:
- Foreign transaction fees: Some cards charge a fee for purchases made outside of the United States, which can add up for travelers who frequently visit other countries. It’s important to choose a card with no foreign transaction fees to avoid unnecessary costs.
- Travel insurance coverage: Some travel credit cards offer travel insurance coverage, such as trip cancellation insurance, lost luggage coverage, and emergency assistance. This can be valuable for travelers, but it’s important to read the terms and conditions to understand what is covered and any exclusions or limitations. It’s also a good idea to compare the coverage offered by a travel credit card to a separate travel insurance policy to determine which option is the best fit for your needs.
- Redemption options: Different travel credit cards offer different redemption options for the rewards they earn. Some cards allow you to book flights or hotel stays directly through their own travel portals, while others allow you to redeem points or miles for cash back or gift cards. Still others offer the option to use rewards for travel experiences or experiences. It’s important to choose a card that offers redemption options that align with your travel goals and preferences.
Additional Benefits
In addition to rewards and travel benefits, some travel credit cards offer additional perks that can be valuable for travelers:
- Airport lounge access: Some cards offer access to airport lounges, which can provide a quiet place to work or relax before a flight.
- Hotel elite status: Some cards offer hotel elite status, which can provide perks such as room upgrades, late checkout, and free nights.
- Rental car benefits: Some cards offer rental car benefits such as free rental car insurance and discounts on rental car rates.
- Travel credits: Some cards offer annual travel credits that can be used towards travel-related purchases, such as airline fees or hotel room charges.
Conclusion
Travel credit cards can be a great way to save money and earn valuable rewards on your travels. By doing your own research and comparing different cards, you can find the one that best fits your needs. Be sure to pay off your balances in full each month to avoid incurring interest charges and to monitor your accounts regularly to ensure you are earning and redeeming rewards as intended. For more information on travel credit cards, check out the Federal Trade Commission’s consumer information on using credit cards.
In addition to researching and comparing different travel credit cards, it’s important to consider your overall financial situation and goals. If you have high-interest debt or are working towards other financial goals, such as saving for retirement or paying off a mortgage, it may not be the best time to focus on travel rewards. In these cases, a credit card with a lower annual fee and a focus on debt repayment or cash back may be a better fit. It’s always a good idea to consult with a financial advisor or professional before making any major financial decisions.
By carefully considering your needs and doing your research, you can find the best travel credit card for your needs and start earning valuable rewards on your travels. Happy travels!
FAQ
Most travel credit cards do earn rewards on travel-related purchases such as flights, hotels, and car rentals. However, some cards also earn rewards on other types of purchases, such as dining and entertainment. Be sure to check the rewards rate for each card to see how you can earn rewards on your purchases.
Some travel credit cards do charge foreign transaction fees on purchases made outside of the United States. These fees can be as high as 3% of the purchase amount and can add up quickly for travelers who visit other countries frequently. It’s important to choose a card with no foreign transaction fees to avoid these extra costs. Many travel credit cards do not charge foreign transaction fees, so be sure to compare your options before choosing a card.
Travel credit cards can be a good fit for individuals who travel frequently and are able to maximize the rewards and benefits offered by these cards. However, these cards can also be a good fit for individuals who only travel occasionally. By choosing a card with a lower annual fee and a sign-up bonus that can be earned through a reasonable amount of spending, individuals who don’t travel as often can still benefit from a travel credit card. It’s important to consider your own travel patterns and spending habits when choosing a travel credit card.
Most travel credit cards allow you to redeem rewards for a wide range of travel-related purchases, such as flights, hotels, and car rentals. Some cards also allow you to redeem rewards for travel experiences or experiences. It’s important to read the terms and conditions of each card to understand what types of purchases are eligible for reward redemption. Some cards may have restrictions or limitations on rewards redemption, such as blackout dates or limited availability of rewards options.