7 Things To Know About Travel Reward Credit Cards
Do you travel frequently? Swear by your credit card when traveling
? If the answer to these questions is a big, enthusiastic yes, and if you are looking for a new card or about to embark on another of your trips, here are a few suggestions to help you choose the best travel credit card.*Since you are likely to be visiting a number of hotels, eateries, places of interest, markets, etc when traveling, you will need to use your card in a number of unfamiliar places. It becomes paramount in this situation that your card remain protected, since there are a lot of people that are looking to swindle tourists. For this reason, it is important to have a card with a good security program that will allow you not only to stop further transaction upon notification of loss, but also with a company that lets you dispute unauthorized transactions. Also look for companies that offer zero liability in case of loss/theft of card.
*While it may seem obvious, travel reward cards are useful only if you travel a lot. If its some distant future you are planning the rare trip in, don't be fooled into getting a travel reward card as the benefit you are likely to receive will be far exceeded by the higher APR or annual percentage rate you are going to be paying on it. Beware of other hidden charges too.
*In addition, check whether your travel reward card is specific to a particular kind of travel (often airline travel or even a particular airline). The best thing to do is to anticipate what kind of use you want to put the card to, as some cards will offer travel reward points for auto rentals, purchasing gas, even purchases at stores, on hotel stays, etc. this way, you can get a card that you will make the most of, and which will help you save on the things you really will spend on, during your trips.
*Some cards will also give you benefits even when you're not the traveler. If people are traveling to you-be it friends, family or job applicants, some cards will provide reward points.
*Some cards also provide you cash advances that will be useful when you travel. In addition, some cards will also provide you travel insurance that covers worldwide emergencies like lost luggage, medical evacuation, etc that can be quite difficult otherwise.
*In addition, make sure to check whether you need to have a carry-over balance at the end of the month to avail travel points. Also check whether there is a minimum or a ceiling on the monetary value you can avail discounts on.
*Also find out the schedule and value of travel rewards on your credit card. For instance, do you have to wait till the end of the month for cash rewards?
In general travel reward credit cards offer U.S. and Canada round trip flights at the reward redemption value of one single round trip ticket for every 25,000 miles purchased on the card. So be sure to find out exactly what you want and choose a card accordingly. And don't miss the fine print!
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