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.Chase Sapphire Preferred® Card is one of the top travel cards in the credit card industry. Benefits include 60,000 bonus points when you spend $4,000 on purchases in the first three months of opening your account which is the equivalent of $600 in cash or $750 in travel when redeemed through Chase Ultimate Rewards. You’ll also get 24/7 customer service, which allows you to talk to a real person whenever you’d like. Cardholders receive one point for every dollar spent, and two points on travel and restaurant dining, which makes the card a very solid option for those who do a lot of traveling. In addition, the card has no foreign transaction fees, and offers 1:1 point transfers on participating travel programs. Your APR will depend upon your credit worthiness. The Chase Sapphire Preferred® Card has a $95 annual fee.
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 13.49% - 23.49% (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. If you make a lot of purchases on your credit card, you may want to consider the Capital One® Venture® Rewards Credit Card. This does have an annual fee of $95 after the first year, but pays two miles for every dollar you spend. In addition, it has an upfront bonus of 50,000 miles once you spend $3,000 during the first three months.
Southwest Rapid Rewards® Plus Credit Card is currently offering new cardholders 40,000 points when they spend $1,000 within the first three months of opening their account; and an additional 35,000 points when they spend $5,000 during the first six months of having the account. Cardholders receive 3,000 bonus points on their cardmember anniversary. Southwest purchases earn 2X points as do purchases made on Rapid Rewards hotel and car rental partners; all other purchases earn one point per dollar. The card has a $69 annual fee. There are no blackout dates, and cardholders can use their points to book tickets for a travel companion. The APR is 17.49% - 24.49% Variable.
Southwest Rapid Rewards® Priority Credit Card gives all the perks listed above for the Plus card, but significantly enhances some of the other rewards. Cardholders earn 7,500 bonus points on their anniversary rather than 3,000. The annual fee is $149 but you receive a $75 Southwest annual travel credit, 20% back on all in-flight purchases, and four upgraded boardings per year. There are no foreign transaction fees with the Priority card, so cardholders can save 3% on any purchases made while traveling internationally. The APR is also 17.49% - 24.49% Variable on the Priority card.
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. Chase Freedom Unlimited® is also a cash back card, but the cash back can certainly be used for travel rewards. The Freedom Unlimited card has an attractive cash back structure: an unlimited 1.5% cash back on all purchases. New applicants also receive a 0% APR for 15 months on both new purchases and balance transfers, with a 3% balance transfer fee or $5, whichever is greater during the first 60 days of being a cardmember; then a 5% balance transfer fee or $5 whichever is greater. Once the promotional financing rate expires, the standard interest rate of 16.49% - 25.24% Variable applies, depending on your creditworthiness. There is no annual fee for this 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 14.40% - 24.40% (variable) based on your credit worthiness. There is no annual fee on this card.