Today’s long list of travel credit card options can be a little intimidating and figuring out which one to choose can be tough. From interest rates to foreign transaction fees to sign-up bonuses, there’s a lot to consider when making a choice. Here, our PHL Airport parking company shares some things that should factor into your decision:
Determine Your Goals
Before you begin looking for a travel credit card, determine your goals: do you want to earn airline miles or are you looking for a cash-back option? Will you be traveling internationally often or are you more of a domestic traveler? Are you looking for a card tied to a specific airline or hotel that you use frequently? Figuring out what type of card will work best for you can help you narrow down your choices.
Look for Sign-Up Bonuses
Many travel credit cards offer sign-up bonuses that can come in handy, so make sure you read the fine print on all of your options. Some companies offer a lump sum when you sign up while others offer bonus points if you spend a certain amount in the first few months. Some may offer rewards for using your card to buy specific items or at certain retailers, which can help you rack up points and others may offer a zero interest fee for a certain amount of time.
While many travel credit cards are free to own, some actually charge an annual fee to be a cardholder. This fee can range from $50-$100 and can be worth it, depending on how much you travel. Cards with annual fees often give you better rewards or allow you accumulate points more quickly, however, if you don’t travel too often, you may want to look for a card without a fee.
In addition, some cards charge foreign transaction fees, which can add up quickly if you travel internationally on a regular basis. This fee means you’ll pay extra every time you use your credit card in another country.
Check Your Credit Score
No matter which travel credit card you choose, you’ll have to fill out an application to be approved. In this application, the credit card company will check your credit score and determine if you’re a good candidate for the card. If you are, your credit score will also play a role in what credit limit the company gives you, so before you apply, check your credit score to make sure you’re in a good spot.