Best travel credit cards for November 2020
Travel credit cards come with some of the highest travel reward rates available — each time you use one, the points you earn with your travel rewards card can be used towards a future (or sometimes a past) travel purchase. So while the coronavirus pandemic may have you grounded right now, when you get back to hitting the road or the skies, you’ll want to be equipped with the best credit card possible to get the most out of your trip. If you don’t have a travel card, it’s time to start vetting the travel benefits offered by each credit card company. If you already have one, take stock of what it offers. There may be better rewards out there.
A travel rewards card also comes in handy for travel perks such as first class upgrades for the frequent traveler, priority boarding, free TSA Precheck and Global Entry and exclusive hotel or rental car benefits.
Read more: Airline cards vs. travel credit cards: The pros and cons — and which one’s better for you
How to pick the best travel credit card
The points and travel benefits that you accrue through a travel rewards program are often redeemed through your credit card issuer’s website (or app) or appear as a statement credit that reimburses you for past travel-related and everyday purchases you made with your travel credit card. Points or miles can also be transferred to travel partners — mostly hotels and airlines — at a fluctuating conversion rate, where they can then be used to book a flight or hotel room. More on that later.
To choose the best travel credit card, there are a few key factors to consider:
- Annual fees. Every single travel rewards program reviewed here has annual fees, with some climbing as high as $550, but those fees are usually mitigated by monthly or annual credits.
- Exclusive perks. Some of these travel rewards card options also grant access to exclusive travel perks, like airline lounges, priority boarding or VIP welcomes at hotels. The value of those perks is subjective and something you’ll have to evaluate for your needs and wants.
- Foreign transaction fees. None of the best travel cards make users pay a foreign transaction fee, so a foreign transaction fee is not something you have to worry about with any of the credit cards recommended below.
The best travel credit card overall for most travelers
Chase
Reward Rates: 3x points on travel and dining (begins after earning $300 credit), 1x point on all other purchases
Annual Fee: $550
Welcome Bonus: 50,000 points
Bonus Redemption Threshold: Spend $4,000 in first three months
APR: 16.99% to 23.99% variable
Foreign Transaction Fees: None
Credit Requirement: Excellent
Chase Sapphire Reserve offers great value for those who spend around $12,000 or more annually on travel. The credit card company lets you accrue rewards card points for flights, hotels, rental cars, trains, buses and either travel or dining. Consider the Platinum Card (for the frequent flyer) or the Gold Card (for high food budgets). Otherwise, I’m a big fan of the wide range of expenses that fall under the Chase Sapphire Reserve’s bonus points categories. And it’s even better for those who value its additional travel perks like travel insurance, hotel discounts and lounge access through Priority Pass Select.
Rewards details
The Chase Sapphire Reserve card gives you unlimited 3x points on travel and dining purchases, 1x points on all other purchases, and 10x points on Lyft rides through March 2022.
While the Chase Sapphire card’s $550 annual fee is steep, the yearly travel credit of $300 brings the overall cost down to $250, making the fee more manageable. Plus, the 50,000 sign-on bonus — earned after spending $4,000 in the first three months — is worth up to $1,000, depending on how you redeem those points (below). Finally, card…
Read More: Best travel credit cards for November 2020