A travel credit card can make your trip a lot more affordable by earning you miles or points on your purchases. These miles or points can then be redeemed for free or discounted flights, hotel stays, and more. When it comes to travel credit cards, there are a lot of options out there, which is why it's so handy that Forbes Advisor has already outlined the best travel credit card options for you. But for now, this article will review the top considerations when choosing a travel credit card. Keep reading to find out more.
Consider the reward options.
When looking for a travel credit card, it’s important to choose one that offers great rewards. The best cards offer points or miles that can be redeemed for free flights, hotel stays, and other types of travel-related expenses. Some cards also offer special perks, such as airport lounge access or statement credits for travel-related purchases. It’s necessary to compare the different rewards programs offered by different cards. Some cards have especially generous rewards programs, while others have more restrictive ones. It’s also essential to look at the terms and conditions of each card’s rewards program. For example, some cards have blackout dates or limits on the number of points or miles that can be earned in a given year.
Consider what type of traveler you are.
When deciding on a travel credit card, take into account what kind of traveler you are. For example, do you often fly first class or stay in luxury hotels? If so, you might want to consider a card that offers higher redemption values for those kinds of activities. On the other hand, if you're more budget-minded and don't mind paying annual fees, look for a card with lower redemption values.
Consider the annual fees and interest rates.
When considering a travel credit card, it's vital to look at both the annual fees and the interest rates. Some cards have no annual fees, while others can be as high as $450. The interest rates can also vary greatly, so you need to find a card that has a rate you're comfortable with. If you plan on carrying a balance on your card, make sure the interest rate is lower than what you're currently paying on other cards.
Compare the foreign transaction fees.
When you’re traveling, it’s a good idea to have a credit card that doesn’t charge foreign transaction fees. These fees can add up quickly, so it’s worth looking for a card that doesn’t charge them. Many cards don’t charge these fees, but there are a few that do. The Chase Sapphire Preferred Card is one of the cards that charge foreign transaction fees. If you plan on using this card while traveling, you’ll want to make sure to avoid using it for any purchases made abroad. The Capital One Venture Card does not charge foreign transaction fees, so it would be a better choice if you plan on using it while traveling.
Consider Your Spending Habits
When it comes to travel credit cards, there are a lot of options to choose from. But how do you decide which one is right for you? One important factor to consider is your spending habits. If you typically charge a lot of expenses on your credit card, then you'll want a card that offers rewards for those types of purchases. For example, some cards offer bonus points for airline or hotel stays. Others give extra points for shopping at specific retailers or restaurants. You'll want to find a card that offers rewards that match your spending habits.
Overall, choosing the right travel credit card is important to consider when looking to travel. The right credit card can offer great benefits like points or miles that can be redeemed for free or discounted travel. Additionally, a good travel credit card will offer other perks like airport lounge access, travel insurance, credit for TSA Pre-Check or Global Entry, and will meet your travel needs.
