How to make travel creditcards work for you
How to make travel creditcards work for youYou’ve probably heard of travel credit cards or travel rewards cards, but you may not be clear on how they work. These cards pay you points or miles for making both travel purchases and everyday purchases. Once you accumulate enough points or miles, you can redeem them for rewards like flights and hotel stays.To know more about travel credit cards, visit https://www.launchora.com/story/1659695603-how-to-make-travel-credit-cards-work-for-you-0If you travel often, one of these cards can be a smart financial tool. Are you thinking of applying for a travel credit card? Here are the basics of travel credit card rewards to get you started.Take advantage of sign-up bonusesMany travel cards come with generous sign-up bonuses. These welcome offers usually require you to spend a certain amount within the first few months of opening the account. Although these bonuses are often an attractive incentive to apply for a card, make sure the spending requirement is realistic for your budget and travel plans.Be aware of all fees before applyingCredit card fees don’t directly affect the rewards you earn, but the cost of the fees affects a card’s overall value to you. Take note of all the fees associated with any card you’re interested in getting.Annual feesNot all travel cards come with an annual fee, but those that do typically range from $95 to over $500. If you’re interested in a travel card that has an annual fee, be sure that the rewards and benefits will offset the cost.Foreign transaction feesSome credit cards charge a foreign transaction fee for overseas purchases. This fee is usually around 3 per cent of purchase, and you’ll pay this fee for every transaction. If you travel abroad frequently, you should consider getting a credit card with no foreign transaction fees.Make sure you have the right cardIt’s important to find the right travel card for your needs. For example, if you’re partial to a certain airline or hotel chain, a co-branded card can offer higher rewards rates, discounts and perks. Additionally, pay attention to a travel card’s rewards categories. For example, earning points or miles at restaurants won’t deliver a lot of value if you rarely dine out. But if you use services like Lyft or Uber a lot, you may want to look into a card that offers points or miles for rideshares.
