Do you love to travel but can’t always afford to take a vacation? Are you wondering about credit card perks for travel?
The average person in the US has more than 4 different credit cards. Each card offers various benefits, so it’s worthwhile to shop around.
If you travel frequently, consider choosing a credit card that comes with fantastic travel perks. Here’s more information to help you find the best one for you.
Types of Credit Cards
There are two main types of credit cards for travel perks. A co-branded card is specific to a particular airline or hotel, and rewards you earn on these cards are usually only redeemable there.
Some co-branded cards are more flexible and allow you to use their reward points within a specific group of businesses. The main advantage of a branded card is they sometimes offer a higher per point benefit.
They often offer exclusive benefits such as free parking, priority boarding, upgrades, and other amenities at hotels. These are great if you are a loyal traveler, using the same hotels or airlines for all of your trips.
The main advantage of the second type of card is its flexibility. General travel cards allow you to earn points redeemable for many different purposes. These cards usually allow you to book travel directly with the card or convert the points into cash that you can use to pay for what you want.
Earning Rewards or Points
When you’re evaluating the best travel credit card perks, look at what purchases earn points and how the card allows you to use those points. Check out this CIBC credit card site for great examples of different point structures.
You want a card that works for your spending habits, so examine any restrictions before choosing. Here’s an example. If you buy a lot of gas, look for a card that awards bonus points for that type of purchase.
Sign Up Bonuses and Fees
One fantastic perk is the bonus many cards offer when you sign up. This perk isn’t as significant as the ongoing rewards you can earn, but it’s a great benefit.
Be aware that some travel cards have higher fees than regular credit cards. That partly offsets the cost of their rewards programs. You don’t want to earn rewards but pay a high annual fee for that perk.
If you value specific perks, you may find ways to use them to offset the annual fee for that card. If one card offers free checked bags as one of the main credit card perks for travel, you’ll want to choose them if you frequently pay for checked bags.
Choose the Best Travel Perks Card for You
When you understand the ways different cards award their travel perks, you’ll know which ones will work for your style of travel. You might find it’s a good idea to have more than one card.
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