Credit cards are the best payment method for travelers as they eliminate the need for carrying different types of currencies when traveling abroad. Travel cards not only facilitate overseas transactions but also help travelers earn free rewards and discounts on travel-related payments. Whether you are a business person who travels often or an individual who likes to explore new destinations around the globe, you must get a travel credit card to enjoy a better and more convenient traveling experience.
What is a Travel Credit Card
A type of credit cards that helps travelers earn free rewards and get discounts on travel payments to make traveling relatively affordable is known as a travel credit card. These cards allow customers to earn reward points via everyday purchases and payments like hotel reservations, booking air tickets and paying rent for taxis, etc. A best credit card with travel benefits and rewards can make your family trips and business tours more convenient and affordable.
Benefits of Travel Credit Cards
Let us have a glance at the several benefits you can avail yourself of using a Travel Credit Card.
Earn Reward Points Every Time you Use the Travel Card
Travel credit cards provide their users with two types of free reward points, 1) sign-up bonus points at the time of getting a new card and, 2) points upon conducting a transaction like rental payment. Card holders are able to earn free points when they carry out transactions with partner airlines or restaurants that are listed in the fine print. After collecting points, users can redeem them later to get discounts on further bookings or purchases. In this way, they can save lots of bucks on traveling expenses using travel cards.
No Foreign Transaction Fees
Different credit/debit cards charge a particular transaction fee when used in a foreign country or for payment in another currency. The foreign transaction fee can range from about 3% of the transaction amount which can add up quickly to your bills. Thanks to travel credit cards, they come with no foreign transaction fees. This means you can swipe your card anywhere anytime you want without paying a single penny towards FTF. As a result, travelers can save bucks on every transaction they make.
No Risk of Fraud
The risk of theft and phishing is always there when you visit another country for personal or business travel. When you carry a card for monetary transactions, there is no need to carry cash or different currencies in your pocket. Not only this, you also get protection against fraudulent activities and unauthorized payments when using a travel card. This means you don’t need to worry about any unknown and unauthorized transaction made through your card. However, you should report your card to the issuer if it is lost or stolen.
Loss of luggage can happen to anyone when traveling. And this can cause loss of valuable belongings, money, and mental stress as well. Some credit cards offer luggage protection features to help cardholders recover the cost of lost luggage while traveling abroad. It is one of the best benefits of travel credit cards as it can keep your dream trip from ruining. Hence, make sure to check this feature in a card you are applying for before you sign the agreement.
Unfortunate incidents occur often during traveling. An accident during traveling can cause serious medical expenses. But you can avoid all costs and expenses if your credit card offers travel insurance coverage. In this way, you can get compensation for a loss caused by an accident. The best travel cards provide travel accident cover to make travelers feel protected while they are traveling with family, friends, or colleagues.