Travel credit cards are a popular option in the world of credit cards, but are they worth it? The answer is a resounding yes for many consumers. If you fall into one of the following categories, a travel credit card might make sense for you.
Frequent travelers: If you’re constantly on the go, travel cards with perks like lounge access and free checked bags can provide substantial value. Cards like The Platinum Card® from American Express are tailor-made for frequent travelers.
Aspirational travelers: Even if you don’t travel often, a no-annual-fee or mid-tier card like the Chase Sapphire Preferred can jump-start your credit card journey and provide points and perks for future travel.
Big spenders: If you have a high monthly budget, putting your purchases on a credit card can benefit you, especially with welcome offers and bonus points. Regularly racking up points can also lead to benefits like airline and hotel elite status.
Small-business owners: Business expenses can lead to travel rewards if you put them on a travel card. Cards like the Ink Business Preferred® Credit Card can earn valuable points and offer flexible redemption options.
If you’re not a frequent traveler and don’t spend a lot every month, a travel card might not make the most sense for you. In that case, a cash-back card that earns rewards on everyday spending might be a better option.
Even if you don’t travel frequently, travel credit cards can still offer significant value if you follow a few straightforward steps and leverage their earning rates and sign-up bonuses. So, consider your spending habits and travel aspirations before deciding if a travel credit card is right for you.