Travel Credit Cards: 5 Things to Consider
If you’re interested in getting a travel credit card, there are a number of things you’ll need to look at before you make your choice. Even at a single travel company, there may be a number of different credit cards that you can sign up for. Here are five things that you should look at before you sign up for a specific travel credit card.
1. Annual Fee
One of the first things many people look at for travel credit cards is the annual fee. A travel credit card will typically come with an annual fee, as the benefits are often very significant. Some travel credit cards may have a higher annual fee than others, with many companies having annual fees ranging from $49 to $199 per year. Make sure you’ll use the card enough to justify the annual fee.
2. Cashback Benefits Inside the Travel Company
When you get a travel credit card, you’ll almost certainly get some amount of cashback when you make purchases at the travel company that issued your credit card. Because most travel credit cards are also issued by one of the major credit card companies, you can often get cashback when you make your general purchases as well. Cashback percentages are typically set at 1% of most purchases, with certain categories like restaurants often providing more cashback. It’s a good idea to check before you sign up so you know how much you’ll be getting.
3. Annual Benefits
It’s very common for travel credit cards to provide a specific benefit on your card member anniversary. For example, you may get an extra travel credit, a special gift, or a discount on your next booking. These benefits can be a great reason for you to keep your card open longer, giving you even more of a good reason to pay the annual fee. By checking the monthly value of rewards points and miles, you can take advantage of more rewards that you’re already entitled to.
4. Foreign Transaction Fees and Other Fees
Along with the annual fee, some credit cards include other fees that you’ll have to pay only under certain circumstances, like foreign transaction fees and ATM fees. These fees legally must be part of the agreement you sign when you sign up for the travel credit card, so make sure you read it completely so that you can know what fees you might be expected to pay.
5. Introductory Bonuses
Last, but certainly not least, check for any introductory bonuses that a card may provide. These introductory bonuses can give you huge discounts on many different travel options. You can even compare and contrast different introductory bonuses so you can feel confident that you have the best one.
There are many things to consider when you’re signing up for a travel credit card, and these certainly aren’t the only ones. However, they are all extremely important, and you should never sign up for a travel credit card without checking them. By paying attention to these five things, you can make sure your travel credit card works perfectly for your unique needs