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How to pick the right travel credit card
Nov 5, 2021
Traveling is fun. And having the right tools can make traveling even more enjoyable. Have you thought about opting for a travel credit card?
The right travel credit card allows you to earn free trips, assists you in travel-related emergencies, and does not charge you additional costs when used abroad. We can help you find the best card for your needs with these tips.
Decide between co-branded or general travel cards
When it comes to travel cards, the first choice you'll have to make is between a co-branded card and a generic travel card. So if you fly with a single airline or stay with a single hotel group regularly, we suggest you use a co-branded credit card to get more out of your travels. If not, a general travel card is enough to provide you with a lot more options.
Look for high rewards and a signup bonus
When evaluating cards, consider how they earn rewards as well as how those rewards can be redeemed. Some travel cards offer high rewards for travel spending. You should always look for at least 2% rewards on the card along with the annual fee and 1.5% on a no-fee card. However, avoid cards that give you less than 1 cent per mile or point when you redeem.
On the other hand, signup bonuses are not as important as ongoing rewards, if you intend to keep your card for a long time, but they're still a great perk. However, before you sign up, make sure you can afford to spend the money required to earn the bonus. There's no point in going into debt just to get a bonus.
Think about travel perks and protection
Some credit card perks and protections are very useful when traveling. You can get lost luggage insurance, travel delay, rental car coverage, accident insurance, and emergency assistance. Many premium travel credit cards, particularly those co-branded with airlines and hotels, provide valuable perks such as priority boarding, free checked bags, upgrades, discounts, and various travel credits.
So decide which perks and protections are essential for you and ensure that the card you choose includes them. For example, if you frequently rent cars, you'll want a credit card with good rental car coverage. If you frequently check bags containing valuable items, you may want lost baggage coverage.
Keep in mind the following when traveling internationally
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Some travel cards are not widely accepted abroad. Acceptance is determined by the payment network rather than the card issuer. Visa and MasterCard are accepted almost everywhere. It's much more hit-or-miss with American Express and Discover.
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Certain credit cards charge additional fees for purchases made abroad. These foreign transaction fees are approximately about 3% of each purchase.
So if you intend to travel abroad shortly you should bring along at least one travel credit card that is widely accepted. At BanqMart, we will assist you in selecting the best travel credit card for you that does not charge you for travel perks.
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