Travel credit cards offer rewards on flight booking, hotel stays, and rental cars. These credit cards offer many advantages for travelers. One of the best advantages of travel credit cards is access to airport lounges. For frequent travelers, access to these lounges can provide a break and rest.
Travel credit cards offer rewards points or miles. These rewards could be for purchases on travel or for every dollar spent on other purchases. Usually, there are multipliers for travel-related purchases. Card members can redeem these points or miles for travel-related purchases. Finally, they can redeem these points for booking flights, hotel stays, and rental cars.
Advantages of using travel credit cards
1. Earning rewards
First of all, there are a few downsides to using travel credit cards. They usually carry joining or annual fees. The APR on travel credit cards is higher than on normal cards. Card members need to weigh the advantages of the travel cards against the cost.
2. Perks and benefits of travel credit cards
Secondly, travel credit cards often come with extra perks and benefits. These benefits include free check-in bags, priority boarding, and access to airport lounges. These advantages attract travelers to apply for travel credit cards. Further, they also offer payments made against airport programs like Global Entry and TSA PreCheck. Credit card companies reimburse the cost of these expenses.
3. Travel insurance
Some travel credit cards offer travel insurance. This travel insurance includes trip cancellation and interruption coverage. This would also cover lost luggage protection, emergency medical, and evacuation coverage.
4. Flexibility on travel credit cards
Travel credit cards often have flexible redemption options. They allow card members to redeem points or miles for travel-related purchases. Card members can also transfer them to airline or hotel loyalty programs.
5. Convenience of travel credit cards
Furthermore, travel credit cards can make it easier to pay for travel-related expenses. A wider range of merchants accepts these credit cards at airports. They offer more discounts as compared to debit cards or cash. Travel Credit cards also offer better rewards as compared to rewards credit cards for travel.
6. Foreign Transaction Fees
Finally, several credit cards waive any foreign transaction fees. This is a great advantage to have for international travelers. They can use the cards without incurring extra fees. Some of these cards may reimburse or offer foreign transaction fees as cashback. Finally, this is one feature that a card member should insist on. Traveling internationally, foreign transaction fees can pile up pretty soon.
List of some of the best travel credit cards
Here is a list of some of the best travel credit cards which are available for customers. These credit cards offer some of the best deals on travel.
#1 Card Name: Venture X from Capital One
Fees: This card has $395 joining fees and annual fees. There is a 3% fee on the balance transfer but $0 in foreign transaction fees.
Rewards: Customers can earn 75,000 bonus miles on spending $4,000. These miles equal $750 in cash when used for travel-related purchases. They have to spend this amount within 3 months of opening a new credit card account. This card offers double bonus miles on every spend.
APR: 19.99% – 26.99% variable APR
Our Rating: 4 / 5
Pros and Cons of this Card: This card also provides free 10,000 bonus miles on each anniversary year. Customers also receive $300 statement credits for booking through Capital One Travel. This card also provides a $100 credit for Global Entry and TSA PreCheck. Venture X provides 10x miles on hotel and rental car-related spending. Card members can earn 5x miles on flights booked through Capital One Travel. This card also provides unlimited access to Capital One lounges to the card member and 2 guests. They also have a tie-up with Priority Pass and Plaza Premium lounges worldwide. Venture X card holders and 2 guests can enjoy these lounges worldwide.
Lastly, the main setback of this card is its high joining fees. This is offset against the initial sign-on miles. This is an excellent card for high flyers and globe trotters. Evidently, this is one of the best rewards offering cards.
#2 Card Name: Classic Platinum from American Express
Fees: $695 in annual fees, a 3% fee on the balance transfer, and $0 foreign transaction fees.
Rewards: Amex platinum offers 125,000 membership rewards points as a one-time bonus. Card members need to spend $6,000 in the first 6 months of the issuance of the card.
APR: 20.24% – 27.24% variable APR is applicable on eligible charges.
Our Rating: 4 / 5
Pros and Cons of this Card: Firstly, the Platinum credit card with annual fees of $695 is an expensive credit card. On the other hand, this credit card provides $1500 worth of value to the credit card member. Customers get $200 back in statement credit each year. Card members earn 5x points on flight and hotel bookings through American Express Travel.
Customers get $20 in statement credits each month for purchases on subscription services. Included services are Audible, Disney+, Hulu, ESPN+, Peacock, and the NY Times. Walmart+ members enjoy full credit for the membership fees when they pay using this card. Card members also receive a $15 bonus in Uber Cash each month. They have to book car rides or UberEats orders on the Uber App using the Platinum card. Card members are also eligible for rewards for many other premium subscriptions.
Credit card members get access to the American Express Global Lounges. These lounges are available at more than 1400 airports across 650 cities globally. Furthermore, card members earn 5x points on flights booked on an airline website.
#3 Card Name: Chase Sapphire Reserved Credit Card
Fees: Annual fee of $550 and a 3% introductory balance transfer fee which increases to 5% of the balance transfer fee.
Rewards: Card members earn 60,000 bonus points. But, they have to spend $4,000 on purchases in the first 3 months of the new card opening. These bonus points are worth $900 when redeemed for travel through Chase Ultimate Rewards.
APR : 0% introductory APR for 15 months on balance transfers and purchases. Once the introductory offer ends a variable APR of 17.99% – 27.99% is applicable.
Our Rating: 4 / 5
Pros and Cons of this Card: Card members receive up to $300 in statement credits every anniversary year. Although, to qualify for this offer they need to charge their travel expenses to this card. Card members earn extra points when they buy travel through Chase Ultimate Rewards. They get 5x total points on flights and they earn 10x points on hotels and rental cars. Lastly, card members earn 3x points on the rest of their travel plans. Evidently, this is an excellent travel credit card.
#4 Card Name: Travel Rewards from Bank of America
Fees: $0 in Annual fees, a 3% fee on the balance transfer, and $0 foreign transaction fees
Rewards: Customers can earn 25,000 bonus points and a $250 travel or dining statement credit value. To qualify they have to spend at least $1,000 in the first 3 months of opening the new account.
APR: 0% APR offers for 18 months and then a variable APR of 17.74% – 27.74%
Our Rating: 3 / 5
Pros and Cons of this Card: This credit card offers excellent travel rewards with 3 points earned for every $2 spent on purchases. Customers get the flexibility to redeem points for a statement credit. They can also pay for travel and dining purchases made on the card through rewards. Further, there are no end dates of the points expiry on this card and there are no blackout dates. Existing Bank of America customers receive higher bonus rewards. Bonus rewards depend on their Preferred Rewards tier with the Bank. For example, a preferred customer gets more points.
#5 Card Name: US Bank Altitude Reserve Visa Infinite Card
Fees: $400 in Annual fees
Rewards: 50,000 bonus points worth $750 on travel. Card members have to spend $4,500 in the first 90 days of credit card account opening.
APR: 21.24% – 28.74% of variable APR
Our Rating: 3 / 5
Pros and Cons of this Card: Card members earn 5x points on hotels and car rentals booked in the Altitude Rewards Center. They also earn 3x points on travel and mobile wallet purchases. Nevertheless, this credit card provides $325 in annual credits for eligible purchases. These eligible purchases could be for multiple categories. For example, these could be for travel, dining, and restaurant charges. Complimentary Priority Pass membership covering more than 1300 VIP lounges worldwide. Moreover, this credit card also reimburses the TSA PreCheck or Global Entry fee of $100 every 4 years.
#6 Card Name: Discover It Miles travel credit card
Fees: $0 in Annual fees or foreign transaction fee
Rewards: 1.5x miles on every dollar spent on the credit card. Discovery automatically matches all the miles earned at the end of the first year. If a card member earned 10,000 miles in the first year. The card will match it to 10,000 miles extra at the first year anniversary.
APR: 21.24% – 28.74% of variable APR
Our Rating: 2 / 5
Pros and Cons of this Card: Discover It Miles card is a decent travel card for customers. Customers can redeem miles for a statement credit to pay for travel purchases. They can also redeem miles on Amazon.com and redeem using PayPal at the checkout. Although, this card does not offer too many rewards like other travel cards. For example, there is no airport lounge access, bonus on flight bookings, and reimbursement of TSA PreCheck fees. Finally, an important advantage is $0 annual fees and matching of miles for the first year.
#7 Card Name: CITI Premier Credit Card
Fees: $95 in Annual fees and $0 in foreign transaction fee
Rewards: Card members earn 80,000 bonus points after spending $4,000 in purchases. They have to make these purchases with the card within the first 3 months of account opening. Further, these points are redeemable for $800 in gift cards.
APR: 20.24% – 28.24% of variable APR
Our Rating: 3 / 5
Pros and Cons of this Card: Card members earn 3x points on restaurants, supermarkets, gas stations, air travel, and hotels. They earn 1x points on all other purchases. Card members can redeem the points to shop online at Amazon.com or BestBuy.com. Card members can also redeem their points for flights, hotels, cruises, and more. Further, these points can be transferred to participating airline loyalty programs. A statement credit of $100 off on a single hotel stay of $500 or more, once per calendar year.
#8 Card Name: Bilt Mastercard Credit Card
Fees: $0 in Annual fees
Rewards: Earn 2x points on flights, hotels, rental cars, and cruises. The travel is booked directly with airlines, hotels, and car rental agencies.
APR: 20.24% – 28.24% of variable APR
Our Rating: 4 / 5
Pros and Cons of this Card: Bilt Mastercard offers 2x points on travel purchases. The card also offers the members 3x points on dining and 1x points on rent payments and other purchases. Bilt rewards points have the highest value. Bilt also offers reimbursement for expenses incurred on delayed trips over 6 hours. To qualify for this offer the card members need to book the trips on the Bilt Mastercard. Finally, this card also offers up to $5,000 in reimbursement for non-refundable fares for any canceled trips.