Compare the Best Travel Rewards Credit Cards
A credit card isn’t just a piece of plastic you can use to make everyday purchases; you can also enjoy rewards you can redeem for travel and other things. With a travel rewards credit card, the money spent on everyday items could go towards earning miles, points or cash back for future trips.
Don’t know much about travel rewards credit cards? That’s where we come in, we’ve done the research and we’re here to help you with the information you need to get the most out of your rewards.
Find the Right Travel Rewards Credit Card for You
There’s lots of value to unlock in travel credit cards. You can leverage their temporary promotion and benefits, or use your current everyday spending to build up a points balance for redemption in the future. Finding the right travel rewards credit card comes down to understanding the types available and the perks offered by each.
With the right rewards credit card in your wallet, vacations and travel can be more affordable. So, when shopping for the right travel credit card, consider what would provide you with the greatest value. It’s not just about points or miles, it’s about perks such as lounge access, amazing insurance coverage and the flexibility to transfer points between cards. Here are the common travel credit card types.
- Airline credit cards. Airlines offer frequent-flier programs you can use to earn miles each time you fly or do things like hire rental cars and make hotel reservations with their partners. An airline may also partner with a card issuer to provide co-branded credit cards.
- Hotel credit cards. Hotels offer loyalty programs and may partner with banks to give co-branded credit cards to their members. Besides earning points, these cards offer benefits like annual reward nights and automatic status perks like room upgrades in hotels.
- Transferable-points credit cards. These credit cards earn transferable points that you may transfer to various hotel and airline partners. Earning transferable points could easily rack up your rewards if you’re not loyal to a specific hotel or airline.
Benefits of Travel Rewards Credit Cards
If you’re a frequent traveler or want a great deal on your next vacation, you want a credit card that rewards you with points or miles for dollars spent. Here are some benefits of travel rewards credit cards.
Earn Points for Purchases
Points earned with a travel rewards credit card may be redeemed for rental cars, hotel reservations, airplane tickets and other merchandise.
Free Airport Lounge Access
Flying long distances can be challenging enough—and long layovers might be the last thing you need.,—so you may want a travel rewards credit card that offers access to exclusive airport lounges. Although airport lounges are often associated with a specific airline, some travel cards will give you access to independent lounges and those affiliated with select airlines.
Waived Baggage Fees
Some travel cards will waive the fee on one or several checked bags for the cardholder and others traveling under the reservation.
Lost Luggage Reimbursement
Many travel rewards credit cards provide lost luggage coverage even without an annual fee. This secondary coverage takes effect once the insurance offered by the travel provider is exhausted.
Trip Insurance
Some travel rewards cards have travel interruption or cancellation insurance, which will reimburse you if your trip is canceled or cut short because of severe weather or an unexpected event. This way, you won’t lose money or the points you worked hard to gain.
Travel Rewards Credit Cards FAQs
What is a travel rewards credit card?
Travel rewards credit cards offer incentives and discounts on different purchases that you can redeem toward travel. You can even score free tickets on airlines or free nights at your favorite hotels. Some cards may also offer valuable perks, including exclusive airport lounge access and complimentary status upgrades in hotels.
How do travel rewards credit cards work?
Travel rewards programs allow cardholders to accrue points or miles for every purchase they make. Usually, these cards offer enticing sign-up bonuses that require you suproass a minimum threshold within the specified promotional period after activating the card. Redemption options for the earned miles or points include airline tickets, hotel reservations or gift cards. Some credit cards also earn points you could transfer to various hotel and airline partners.
What rate can I get with travel rewards credit cards?
The rate offered on your travel rewards card will depend on the issuer. Some card issuers will offer a 0% introductory APR for your first 12 billing cycles on purchases made. For most cards, the regular APR ranges between 14% and 25%.
Can anyone get a travel rewards credit card?
If you’re interested in submitting a travel card application, bear in mind that card issuers will typically require good or excellent credit—requiring a score above 670 to qualify. Are you a globetrotter who pays for purchases with a credit card? Then you’ll want to consider a travel rewards credit card
How do I compare different travel rewards credit cards?
There are endless travel reward card options available, so settling on the right one can be difficult. Luckily, comparing different cards can be a good place to start narrowing your search. Start your comparison by evaluating rewards on offer. Look for a card that provides a flexible range of rewards while providing the greatest value when redeemed.
Next, you need to look at the earnings potential. Some cards will give you up to five points per dollar for dining and travel, while others will only offer 1.5. Some cards will also give points on all other purchases, so be sure to make a thorough assessment.
Sign-up bonuses will also impact the value of your card. Consider the bonuses offered for eligible spending within the first three months. The real value of your travel card will also depend on the annual fee charges. Some cards have no annual fee, while others have a standard charge. Weigh both options to see whether the rewards outweigh the annual fees.
