Are you bitten by the travel bug and looking for ways to save on your next adventure? Look no further! Introducing the best credit cards for travel rewards in 2023 – your one-stop solution for upgrades, hotel stays, and various other travel perks. We at Flik Eco understand the millennial's need to explore the world while being financially savvy – so let's dive into the world of travel rewards and find the perfect card for you!
Best Credit Cards For Travel Rewards 2023 Table of Contents
What to Look for in a Travel Rewards Credit Card
Before we jump into our top picks for travel credit cards, here are some factors to consider when choosing the right card for your travel needs:
Sign-up Bonus:
A substantial sign-up bonus can give you a head start on accruing points and miles. Look for cards with rewarding welcome offers, but also keep in mind the cards' spending requirements to earn those bonuses.
Earning Rates:
Consider how much you're likely to earn in rewards for every dollar spent on the card. Look for cards with higher earning rates or bonus categories that align with your spending habits.
Redemption Options:
What can you redeem your points or miles for? Compare the redemption options and flexibility – such as transferring points to partner airlines or redeeming for statement credits and gift cards.
Annual Fee:
Are you comfortable paying an annual fee for travel perks? Weigh the cost of the annual fee versus the benefits you'll receive from the card.
Travel Perks:
Extra benefits like airport lounge access, checked bag waivers, and complimentary hotel upgrades can make your travel experience smoother and more luxurious.
Our Top Picks for Travel Rewards Credit Cards
Based on the factors above, we have shortlisted the best travel rewards credit cards for 2023:
1. Chase Sapphire Preferred Card
- Sign-up bonus: 60,000 points after spending $4,000 in the first three months
- Earning rates: 2 points per $1 spent on travel and dining, 1 point per $1 on all other purchases
- Redemption options: Redeem points for travel through Chase Ultimate Rewards or transfer to partner airlines and hotels
- Annual fee: $95
- Travel perks: No foreign transaction fees, primary rental car insurance, and trip cancellation/interruption coverage
2. The Platinum Card from American Express
- Sign-up bonus: 75,000 points after spending $5,000 in the first six months
- Earning rates: 5 points per $1 spent on flights and prepaid hotels when booked through Amex Travel, 1 point per $1 on all other purchases
- Redemption options: Redeem points for travel through Amex Travel, transfer to partner airlines and hotels, or redeem for statement credits and gift cards
- Annual fee: $695
- Travel perks: Airport lounge access, airline fee credit, Global Entry/TSA PreCheck credit, and hotels benefits through Fine Hotels & Resorts
3. Capital One Venture Rewards Credit Card
- Sign-up bonus: 60,000 miles after spending $3,000 in the first three months
- Earning rates: 2 miles per $1 spent on all purchases
- Redemption options: Redeem miles for travel purchases at any airline or hotel, as well as for statement credits, gift cards, and more
- Annual fee: $95
- Travel perks: Global Entry/TSA PreCheck credit, no foreign transaction fees, and rental car insurance
Best Credit Cards For Travel Rewards 2023 Example:
Imagine you're a food enthusiast and avid traveller. You decide to go for the Chase Sapphire Preferred Card, as it caters to both dining and travel rewards. In your first three months, you hit the $4,000 spending requirement, earning 60,000 bonus points. Throughout the year, you spend $10,000 on travel and dining, accumulating 20,000 points, and $5,000 on other purchases, gaining 5,000 points. By the end of the year, you hold 85,000 points, which can be used for your next foodie travel adventure.
And there you have it – our top credit cards for travel rewards in 2023. Don't forget to consider your spending habits, travel preferences, and personal needs when choosing the right card for you. With the perfect match, you can turn your everyday spending into countless travel opportunities. Ready to jet-set across the globe without breaking the bank? Then apply for your ideal travel rewards credit card today!
Don't forget to share this article with fellow travellers, and explore more guides on Flik Eco for personal finance tips and tricks to help you live your best life.
