Credit cards that maximize travel rewards points help consumers budget their vacations wisely. Luxury travel has taken a hit, along with other forms of travel, because of the recession and increased austerity. People who once hardly blinked when dropping a few thousand dollars on a vacation are now tightening their belts, taking shorter vacations, or not traveling at all (Travel Daily News, July 27 2010).
It's not all bad news for the travel and tourism industry, thankfully; the US Department of Commerce reports that, while US outbound air passenger traffic decreased by five percent from April 2009 to April 2010, US air traffic to Asia is up nine percent to date this year, and other continents (Africa, Oceania) have seen even larger increases. Clearly, the desire to travel is as strong as ever. Travelers can save money for vacations in several ways, and using a credit card that maximizes travel reward points is a valid way to get more bang for the buck.
Billshrink, one of the top 20 money saving websites (Money Magazine), shows its users over one billion dollars in potential saving every year. The website helps its users learn how to save money on bills, and identified what it judges to be the top 5 rewards cards for travelers. Travel planners can get more value out of their vacations by using these credit cards with the best travel rewards points.
America Express Starwood Preferred Guest Card
American Express Starwood Preferred Guest Cards offer a 10,000 point sign-up bonus, which is enough for three free nights at most Starwood hotels, after the first purchase on the credit card. Two points for every dollar spent at Starwood is also part of this credit card's travel rewards system, and the $5 annual fee is waived for the first year.
CapitalOne Orbitz Visa Platinum
This credit card offers three points for every dollar spent booking flights, hotels and car rentals on the Orbitz website. CapitalOne Orbitz Visa Platinum also gives bonus points simply for redeeming other points.
CapitalOne Venture Rewards Card
CapitalOne Venture Rewards Cards gives two miles for every dollar spent, plus 10,000 air travel miles after just one purchase with the credit card. This is the equivalent of a $100 credit for any airline ticket purchase. The first year's annual $59 fee is also waived.
Chase Sapphire Preferred Card
This credit card's travel rewards points really add value for consumers planning trips. It offers 25,000 bonus points (enough for a free flight) after cardholders charge $3,000 in the first three months. Time using the Chase Sapphire to paying big bills, and it's like money in the bank. Users can earn 7% "interest" on their points, get double points for airfare purchased through Ultimate rewards, and – best of all – there are no blackout dates on travel. The $85 annual fee is waived for the first year.
Discover Escape Card
Discover Escape Cards reward 1,000 Bonus Miles every month that cardholders make a purchase with the credit card for the first 25 months. That is, potentially, 25,000 miles. Discover Escape Cards also offer double miles on all purchase, and another two miles for every dollar spent at their website, ShopDiscover.com.
Now, most credit cards have foreign transaction fees that can catch cardholders by surprise while vacationing overseas. These fees are usually in the 2-3% range. Chase Sapphire Preferred Cards have a 3% foreign transaction fee, American Express Starwood Preferred Guest Cards have 2.7%, and Discover Escape Cards 2%. The CapitalOne travel rewards cards, however, have no foreign transaction fee at all. Those international fees can add up: This is an important detail for consumers to consider when choosing the best travel reward credit card.
Jennifer W. Miner - Jennifer has years of travel writing experience, spoken at several national conferences, and more. See Jendeavor.com for more details.
