Top Travel Credit Cards for 2020
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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 some of the top travel credit cards for 2020 so you can get the most of your next vacation.
Capital One® VentureOne® Rewards Credit 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 on purchases, and then a relatively low 14.49% - 24.49% (Variable) APR after that. For those who like to travel abroad, Capital One VentureOne has no foreign transaction fees. You 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.
Capital One® Venture® Rewards Credit Card is a great travel card. It offers double miles on every purchase. Each mile is worth one cent as a statement credit toward travel reservations. Eligible travel purchases include those made from airlines, hotels and rental cars. To redeem your miles, make a purchase the way you normally would. Then redeem your miles later for statement credits to offset those purchases. This allows you to earn points and miles from your award travel, and you are still eligible for upgrades, unlike traditional airline and hotel awards. As a special introductory bonus, new cardholders receive 50,000 bonus miles, worth $500, after spending $3,000 on new new purchases within three months of account opening. Cardholders also receive up to $100 application fee credit for Global Entry or TSA Pre✓®. This card is equipped with an EMV smart chip, and is compatible with the Apple Pay mobile payment system. There is a $95 annual fee for this card but it is waived the first year.
Capital One® Quicksilver® Cash Rewards Credit Card is not necessarily a “travel” card but it 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 $150 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 15 months and then an ongoing APR between 15.49% - 25.49% (Variable). There is no annual fee or a foreign transaction fee on the card.
ABOC Platinum Rewards Mastercard® is a relatively new card on the market with some attractive features. One point is earned for every dollar spent, and can be redeemed for travel benefits, gift cards, merchandise, and even cash. You earn a $150 Statement Credit after you spend $1,200 on purchases within the first 90 days from account opening. There is an introductory APR of 0% for 12 months on purchases and 18 months on balance transfers. The ongoing interest rate is 12.90% - 22.90% (variable) based on your credit worthiness. There is no annual fee on this card.
Please note: Amalgamated Bank of Chicago has temporarily suspended its balance transfer offer for new accounts due to the current economic environment. ABOC expects to reinstate this benefit in late 2020; in the meantime, new cardmembers can still receive a 0% intro APR on purchases for 12 months and have the opportunity to earn a $150 statement credit when they spend $1,200 within 90 days after account opening.
Costco Anywhere Visa® Card by Citi is a very lucrative cash back card exclusively for Costco Members. Cardholders receive 4% cash back on eligible gas for the first $7,000 per year (and then 1% thereafter); 3% cash back on restaurants and eligible travel purchases; 2% cash back on all other purchases from Costco and Costco.com; and 1% cash back on all other purchases. The card has a 15.24% (Variable) APR. There is no annual fee for this card with a Costco annual membership, and no foreign transaction fees.