Credit Cards with the Best Travel Benefits

Credit Cards with the Best Travel Benefits

August 24, 2020 | By Leah Freeman-Haskin

It can feel overwhelming trying to sift through the fine print of every credit card in search of the best one. If you are a frequent traveler, there are cards that offer a multitude of benefits and rewards. But where should you start? Here is a list of the top five credit cards with the best travel benefits, from zero foreign transaction fees to impressive airline rewards.

Bank of America® Travel Rewards credit card

Foreign transaction fees can add up quickly. Some cards charge up to 3% on every international travel transaction or purchase that goes through a foreign bank. If you are planning frequent travel or making purchases with foreign merchants, the Bank of America® Travel Rewards credit card is one of the best options. Benefits include zero foreign transaction fees, no annual fee, earn 25,000 points when you spend $1,000 within the first 90 days, and 1.5X points on all purchases.

In Summary:

  • No foreign transaction fees
  • No annual fees
  • Earn 25,000 points when you spend $1,000 within the first 90 days
  • Earn 1.5X points on all purchases

Wells Fargo Propel American Express® Card

This card comes with some great benefits for frequent travelers. Enjoy no annual fee, zero foreign currency conversion fees, and points that do not expire while your account remains open. You will also earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months – a $200 cash redemption value.

In Summary:

  • No annual fee
  • No foreign currency conversion fees
  • Points do not expire while your account remains open
  • Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months

Chase Southwest Rapid Rewards® Plus Credit Card

When it comes to airline rewards, this card tops the list. When you earn 125,000 points in one year, you join the Southwest Companion Pass. This pass lets you bring a companion with you on any Southwest flight you purchase with cash or points for up to the next two years for free (minus taxes and fees). You can earn your points via credit card spend, sign-up bonus, pairing with a Southwest business card, and referring a friend. This card also offers 2X points for Southwest purchases, as well as partner hotel and car rental purchases. However, you will pay a $69 annual fee. 

In Summary:

  • Southwest Companion Pass lets a companion travel with you for free
  • Earn 2X points for Southwest purchases, as well as partner hotel and car rental purchases
  • Earn 3,000-anniversary points each consecutive year to are enrolled
  • Annual fee of $69

Discover it® Miles

This no-annual-fee credit card offers an unlimited bonus in which all of the Discover it Miles you earn will be matched at the end of your first year. For example, if you earn 30,000 points in your first year, Discover will match those points, bringing your total to 60,000 points. It also boasts no blackout dates, and you can redeem miles for statement credits or even cash.

In Summary:

  • No annual fee
  • Discover will match your miles at the end of the year
  • No blackout dates to redeem your points

Capital One® Venture® Rewards Credit Card

If you plan to travel internationally in the coming year, check out the benefits of the Capital One® Venture® Rewards Credit Card. You won’t pay a transaction fee when making purchases outside of the United States, you will receive up to $100 credit for Global Entry or TSA Pre® when you use your Venture card, and you will get automatic insurance for a covered loss at no extra charge when you use your credit card to purchase your fare. Even with the $95 annual fee, these are some pretty good perks when traveling abroad.

In Summary:

  • No foreign transaction fees
  • Receive up to $100 credit for Global Entry or TSA Pre® when you use your Venture card
  • Get automatic insurance for a covered loss at no extra charge
  • Annual fee of $95

Since financial needs vary greatly depending on your travel routine, it’s important to weigh the pros and cons of each card before committing to any one. These overviews are a great place to start, but contacting the bank directly will offer more specifics on your options.

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