Which travel rewards credit cards are best for you? Friday, June 29, 2012 at 6:49:52 PM
Now that summer is here, you might be one of many people across the country who are on the lookout for new credit cards that can make your summer travel plans more affordable, but might need a little bit of help in figuring out exactly which is best.
There are a few things you should consider when you're planning your travel around your credit card, and comparing a number of credit card offers can make a huge difference in the amount of money you save.
How are you traveling?. If your plans don't involve getting on a plane, it might not be the best idea to find a rewards card that grants you a large number of bonus miles, but you might want to find a gas rewards account that will help you reduce your family's fuel costs.
Depending on your travel plans, you might have a few rewards cards that can benefit you
If you are flying, you should find one of the numerous travel rewards cards that will grant you a large number of bonus miles just for signing up. In many cases, the right one for you will depend on the brands you prefer, as some cards come with miles on airlines you may not use often, and others can give you more miles for spending at certain hotels and rental car chains.
Are you leaving the country?
This is often an important consideration when it comes to travel accounts because the best credit card in this category typically comes with no foreign transaction fees.
In the past, most cards charged users a small fee - usually about 3 percent of a purchase value - for any transaction completed in a foreign currency, but most are now waiving them. If you're going abroad, make sure the credit card applications you fill out will grant you this extra perk.
What are your specific habits?
Any time you're reviewing a credit card offer, you should
consider what effect it will have on your finances given how you've used cards in the past. If it comes with a higher interest rate, for instance, and you're the kind of borrower who tends to carry a balance, you might want to look for more affordable options that are available to you.