Top 7 Travel Credit Cards for 2015
Summer is right around the corner and people are already planning their getaways. Traveling can be quite expensive, which is why so many people have to cut back on their vacations. But with the right credit card rewards program, you can save money on your trip and get extra bonuses while you’re on the road. Some credit cards are better for traveling than others, and the right one for you may not be the right one for someone else. It all depends on what kind of trip you take.
Here is a list of the top travel credit cards for 2015 so you can get the most of your next vacation.
Capital One VentureOne
The Capital One VentureOne card is considered one of the best travel rewards card in the industry due to its low fees and great rewards opportunities. It offers 0% APR for the first 12 months (until April 2016) on purchases, and then a low 11.9% to 21.9% APR after that. For those who like to travel abroad, VentureOne has no foreign transaction fees. You can enjoy your time without having to worry about currency conversions. Best of all, you can get 1.25 miles for every $1 you spend on the card, which can be redeemed for travel expenses. This is in addition to the 20,000 bonus miles you’ll receive (equivalent to $200) if you spend more than $1,000 on your card during the first three months of card ownership. These miles can be used on any airline or hotel ,and have no blackout dates. The card has no annual fee and is EMV compatible. If you make a lot of purchases on your credit card, you may want to consider the Capital One Venture card. This does have an annual fee of $59 after the first year, but pays two miles for every dollar you spend. In addition, it has an upfront bonus of 40,000 miles once you spend $3,000 during the first three months.
Discover it Miles
This is a relatively new card from Discover and it has the best cash back rewards on the market during the first year of ownership. The Discover it Miles card pays 1.5 miles for every dollar you spend, and Discover doubles the miles you earn during the first year. Hence, you are actually earning three miles for every dollar spent during this first year. Discover pays you back for your in-flight Wi-Fi fees, up to $30 a year, with an automatic statement credit. In addition, there is a 0% APR offer on all purchases during the first 12 months. After that, the card has an ongoing APR between 10.99% and 22.99%. The Discover it Miles card has no annual fee, no foreign transaction fee and provides all cardholders with a free FICO score every month. The card is not EMV compatible.
Blue Cash Everyday from American Express
If you want to take a road trip, the Blue Cash Everyday Card from American Express is the card to have in your wallet due to the gas rewards. This card offers 2% cash back on gas station purchases, as well as purchases made at select department stores. In addition, the card pays 3% cash back on grocery store transactions up to $6,000 per year in purchases, and 1% back on all other purchases. Cardholders receive $100 back after spending $1,000 in purchases during the first three months. The card also features 0% APR on both purchases and balance transfers for the first 15 months as well as no annual fee. The ongoing APR is between 12.99% and 21.99%. There is a foreign transaction fee of 2.7% on this card. The card is EMV compatible.
Chase Sapphire Preferred
The Chase Sapphire Preferred card comes comes with an attractive introductory bonus program. Cardholders can earn 40,000 bonus points when you spend $4,000 on purchases within the first three months of opening the account. You can earn 5,000 more bonus points by adding the first authorized user to your account if they make a purchase within those first three months of account opening. Cardholders also earn two points for every dining and travel purchase, as well as one point for all other purchases. Unlike a number of cards, the Chase Sapphire Preferred does not have an introductory APR offer. The ongoing APR is slightly higher than other cards, starting at 15.99%. The card does not have a foreign transaction fee which is attractive if you will be traveling overseas. There is a $95 annual fee which is waived for the first year. The card is EMV compatible.
Capital One Quicksilver
The Capital One Quicksilver card is one of the best cash back cards on the market. Consumers receive 1.5% back on all purchases–there is no limit on the amount you can earn and no rotating categories. In addition, you receive a $100 bonus after spending $500 on the card during the first three months of ownership. There is a 0% APR on both purchases and balance transfers for nine months (until January 2016) and then an ongoing APR between 12.9% and 22.9%. There is no annual fee or a foreign transaction fee on the card. This card is not EMV compatible.
The Barclaycard Ring card is on this list because of its extremely attractive APR of 8%, one of the lowest in the industry. The card also comes with a lack of fees–it does not have a foreign transaction fee, annual fee or a balance transfer fee. It has a unique rewards program where cardholders share the estimated profits based on the community’s financial performance; then you can choose to keep your share of the profits or donate to charity. The Ring card does not have an introductory APR, and is not EMV compatible. But if you’re looking for a card with a very low APR and you have excellent credit, this is a card to consider.
Citi ThankYou Preferred
The Citi ThankYou Preferred card has a very attractive rewards program. It pays two ThankYou Points per dollar spent on dining and entertainment purchases, and one ThankYou Point per dollar spent on all other transactions. Plus, cardholders earn 20,000 bonus points after spending $1,500 in purchases during the first three months, redeemable for $200 in gift cards. The card is EMV compatible and has no annual fee. There is an introductory APR of 0% for the first 12 months on both purchases and balance transfers. Then, the ongoing APR is between 12.99% and 22.99%, based on your credit worthiness. This card does have a 3% foreign transaction fee and balance transfer fee.
The best travel credit card is the one that gives the most perks for your particular spending pattern. These cards offer some terrific rewards. But make sure you choose one that maximizes the rewards for your specific needs.