Travel on your mind? If you are looking for a credit card that can fulfil your shopping desires, while on vacation, we have some good news for you. Travel credit cards can be your best bet if you want to cut the cost of your holiday. One of the biggest advantage of using a travel credit card is that you will receive points on the money spent.
There are plenty of travel credit cards available in the market. It can be tough to choose one card out of the many options. Before finalizing a card, you should compare annual fees, signup bonus, reward structure and flexibility, so that you are good enough for spending abroad. The best card for you will depend on your budget and your spending habits.
Let us look at some of the best travel credit cards offered.
- BankAmericard Travel Rewards® Credit Card – Issued by Bank of America this card offers 1.5 points per $1 spent on all purchases. It has no annual fee, no foreign transaction fee. The best part is that your reward points never expire. It gives you a 20,000 online bonus points if you spend a minimum of $1,000 in the first 90 days.
- Barclaycard Arrival Plus™ World Elite MasterCard® – This card gives you 50,000 bonus miles after you spend $3,000 in the first three months. It has a 0 introductory APR for 12 months, and after that the bank charges a variable APR of 16.74%, 20.74% or 23.74% depending on your credit history.
- Starwood Preferred Guest® Credit Card from American Express – This card has a $0 introductory annual fee for the first year after which it charges $95. It gives you bonus star points of 25,000, if you spend $3,000 within the first 90 days. This is equivalent to a free stay for two nights at a four-star hotel.
- Chase Sapphire Preferred Card – This card has been awarded the Best Credit Card Award for Flexible Travel Redemption by Kiplinger’s Personal Finance in the year 2016. It is acceptable on travel and dining worldwide. Customers are rewarded one point per dollar spent. There are no travel restrictions nor any foreign transaction fee.
- Venture from Capital One – This bank offers travel credit card that is free for the first year but charges $59 towards annual fee thereafter. It gives you a one-time bonus of 40,000 after you spend $3,000 on purchases within the first 90 days. There is a late payment penalty of up to $35 if you miss paying your bills on time.
- Discover it® Miles Travel Credit Card – There is no annual fee, foreign transaction fee, nor any over-limit fee. The bank does not charge you a penalty if you miss making your first payment. You get to earn 1.5x Miles on every dollar spent, also these miles never expire.
- Southwest Rapid Rewards Plus Credit Card–This card gives you a special 3000 bonus points after you complete one year, also known as the card-member anniversary. However, it charges an annual fee of $69, which is applied on your first statement itself. You get to earn 60,000 points after spending $2000 on purchases in the first three months.
Each traveler is different from the other. Therefore, you should choose a card suiting your budget and requirements. One should compare interest rates and other hidden terms and conditions before selecting a credit card, else your holiday may turn out to be way more expensive than you had thought.
When you go on a holiday, it is important to calculate each and every single expense right from accommodation, to pick up and drop, sight-seeing to shopping and of course travel charges. This would give you a good idea on your total outflow of cash and would make you choose the right credit card.