If you travel at least once per year, you should get a travel credit card. Most travel credit cards will offer a signup bonus and rewards programs to encourage people to use their cards to pay for their travel expenses. The bonus and miles that you earn can be used for exchanging flight tickets or discount towards your travel expenses. The following is the top 4 travel credit cards that you can consider in signing up if you are only going to travel one time every year.
1. Bank of America Travel Rewards Credit Card
Bank of America Travel Rewards Credit Card offers a signup bonus of 20,000 bonus points when you have spent a minimum of $1,000 within 90 days. The 20,000 bonus points can be exchanged for a statement credit that worth $200. There is no annual fee and it offers 0% intro APR on purchases during the first year. After the first year, you will get charged with an APR interest of 15.99% – 23.99%. The card does charge a penalty APR of 29.99% or more when you neglect in making repayment.
2. Barclaycard Arrival Plus World Elite MasterCard
Barclaycard Arrival Plus World Elite MasterCard offers 50,000 bonus miles as signup bonus when you have spent $3,000 on purchases in 90 days. The value of the 50,000 bonus miles is equivalent to $500. The annual fee is waived in the first year and $89 in the subsequent years. It allows you to earn 2 miles for per dollar spent and miles that you earn can be exchanged for a statement credit. You get an additional 5% miles back each time you redeem the miles. The card has a variable APR that vary from 16.99% – 23.99%.
3. Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card offers 40,000 miles for signup bonus incentive when you reach a minimum spending level of $3,000 in the first 90 days. The 40,000 miles can be exchanged with $400 of travel statement. The annual fee is $0 during the first year but you will be charged a $59 fee in the subsequent years. Besides the signup bonus, you will get to earn 2x miles for every dollar spent. The miles can be redeemed for a number of travel expenses such as flights, hotel accommodation, and cruises.
4. Chase Sapphire Preferred Card
Chase Sapphire Preferred Card rewards customers who spend $4,000 in the first 90 days with 50,000 bonus points. You can use the 50,000 bonus points to redeem a travel statement worth $625. The card has a variable APR in between 16.99% – 23.99%. You get to earn 2 points on selected categories including dining and travel. All other things that you purchase will qualify you to earn 1 point per dollar spent. In the first year, you don’t have to pay the annual fee. In the second year, they will charge you $95 for the annual fee.