Travel credit cards can prove to be resourceful for people taking frequent business trips or holidays. Travel credit cards come with several benefits besides easing transactions on domestic and international trips. Here are 5 things you should consider while purchasing a travel credit card:
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Travel credit cards come with joining bonus and renewal benefits like free rewards and travel vouchers. The benefits offered will help you cover the amount you pay as a joining fee. It also comes with discounts on travel and hotel bookings. Some of the benefits of travel credit cards are as follows:
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The renewal and joining fee for travel credit cards are much higher than normal credit cards that offer shopping benefits or discounts on fuel etc. you may have to pay a hefty charge as renewal or joining fee if you own such cards. While enrolling for such cards compare the cost-benefit analysis with travel credit cards offered by other credit card issuers. While zeroing upon a travel credit card try to choose the one that offers benefits in terms of reward points, cashback and coupon codes, and discounts that exceed its cost by the widest margin.
Subscribers of travel credit cards have two options to choose from when it comes to loyalty points. You can either go for co-branded credit cards that offer high reward points for the usage of the card at partner outlets and brands or non-co-branded credit cards. Non-co-branded travel credit cards too offer high benefits on travel expenses as there are no limited options and you get to earn points and redeem them as per your choice of retail outlets and stores.
The reward points of co-branded travel credit cards can only be redeemed at its partner brands for air tickets, hotel stays or select merchandise only. But for brand-neutral cards, you can accumulate the points and redeem them at both partner and non-partner outlets. So it is wise to opt for a co-branded travel card if you are loyal towards a specific partner brand, else you may opt for a brand-neutral card for greater flexibility.
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Travel credit cards are comprehensive tools that also offer similar benefits like normal credit cards along with travel benefits. Travel credit cards too offer advantages to the cardholder like a discount on dining, free movie tickets, fuel surcharge waivers, and discount vouchers.
Ancillary benefits help you avail significant discounts on utility and lifestyle bills and thus it widens the usage of the card. If you own such cards, you do not need to subscribe to additional credit cards for other spend types. Thus while choosing a travel credit card, make sure it offers other benefits too so that it suits your non-travels spends as well.
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Most travel credit cards come with offers that expire after a certain period. However, some credit cards come with offers that never expire. While there are only a few such credit cards, most of the cards offer these benefits up to a certain period. So keep track of the expiry dates of the rewards on your credit cards. If your points have added up, use them to pay for other services like apparel or dining if you are not looking forward to urgent business trips or holidays.
Travel credit cards are best only if you take frequent business trips and holidays throughout the year. Using travel credit cards can significantly reduce the overall cost you incur on your travel. Therefore, try to choose a credit card that aligns with your travel needs as well as help you reduce your overall cost through reward points and discounts on other expenses.
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