Best Travel Reward Credit Cards of 2023
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Travel reward credit cards represent a broad category of rewards cards. They encompass everything from airline miles cards to more generic rewards cards. Some cards offer miles, others use points. As a result, picking the best travel rewards card can be a challenge. Here are our top picks for 2023.
- Types of Travel Reward Credit Cards
- Best Travel Reward Credit Cards
- Airline Miles Cards
- Hotel Rewards Cards
- Pros and Cons of Travel Rewards Credit Cards
- What Is a Rewards Credit Card?
- How Do Rewards Credit Cards Work?
- How to Choose the Best Travel Rewards Card
- How Can I Maximize My Rewards Earnings With a Credit Card?
- Are Rewards Credit Cards Worth It?
- Who Are Travel Rewards Credit Cards Best For?
- Is There a Limit to the Rewards I Can Earn With My Credit Card?
- Can I Redeem My Rewards for Cash?
- Frequently Asked Questions (FAQ)
- Final Thoughts
- Related
Types of Travel Reward Credit Cards
To narrow down the list, I divide travel cards into three categories:
1 All-purpose travel cards: These cards aren't part of an airline or hotel brand. Instead, they offer miles or points that can be used with any travel. As you'll see below, the top cards in this category offer at least 2% in rewards. The “catch,” if you will, is that these rewards must be used for travel to maximize their value.
2 Airline miles cards: Offered from every major airline, these cards can offer the highest value in rewards. The key is to understand your travel patterns. These cards are ideal for those who fly frequently with the same airline.
3 Hotel rewards cards: As with airline miles, these cards can offer good rewards for those who stay with the same hotel brand.
We've covered each of these types of cards below.
Best Travel Reward Credit Cards
Chase Sapphire Preferred® Card Chase Sapphire Preferred
Rewards:
Welcome Bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Foreign Transaction Fee: $0
Annual Fee: $95
Chase Sapphire Reserve®
Rewards:
Welcome Bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®
Foreign Transaction Fee: $0
Annual Fee: $550
American Express® Gold Card
Rewards:
Welcome Bonus: Earn 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
Foreign Transaction Fee: None
Annual Fee: $250
Capital One Venture X Rewards Credit Card
Rewards:
Welcome Bonus: Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening
Foreign Transaction Fee: None
Annual Fee: $395
Capital One Venture Rewards Credit Card
Rewards:
Welcome Bonus: Enjoy a one-time bonus of 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening
Foreign Transaction Fee: None
Annual Fee: $95
Wells Fargo AutographSM Card
Rewards:
Welcome Bonus: Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value
Foreign Transaction Fee: None
Annual Fee: $0
The Platinum Card® from American Express
Rewards:
Welcome Bonus: Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.
Foreign Transaction Fee: None
Annual Fee: $695
Airline Miles Cards
Southwest Rapid Rewards® Premier Credit Card
Rewards:
Welcome Bonus: Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.
Foreign Transaction Fee: $0
Annual Fee: $99
See also: Southwest Credit Cards: Which One Is Right for You?
Delta SkyMiles® Blue American Express Card
Rewards:
Welcome Bonus: Earn 10,000 bonus miles after you spend $1,000 in purchases on your new Card in your first 6 months.
Foreign Transaction Fee: None
Annual Fee: $0
Delta SkyMiles® Gold American Express Card
Rewards:
Welcome Bonus: Earn 40,000 bonus miles after you spend $2,000 in purchases on your new Card in your first 6 months.
Foreign Transaction Fee: None
Annual Fee: $0 introductory annual fee for the first year, then $99.
British Airways Visa Signature® Card
Rewards:
Welcome Bonus: Earn 75,000 Avios after you spend $5,000 on purchases within the first three months of account opening.
Foreign Transaction Fee: $0
Annual Fee: $95
Citi® / AAdvantage® Platinum Select® World Elite Mastercard®
Rewards:
Welcome Bonus: Earn 50,000 American Airlines AAdvantage® bonus miles after spending $2,500 in purchases within the first 3 months of account opening
Foreign Transaction Fee: 0%
Annual Fee: $99, waived for first 12 months
United Club℠ Infinite Card
Rewards:
Welcome Bonus: Earn 80,000 bonus miles after you spend $5,000 on purchases in the first 3 months from account opening.
Foriegn Transaction Fee: $0
Annual Fee: $525
Hotel Rewards Cards
Marriott Bonvoy Boundless® Credit Card
Rewards:
Welcome Bonus: Earn 3 Free Night Awards (each night valued up to 50,000 points) after you spend $3,000 on purchases in your first 3 months from your account opening. Certain hotels have resort fees.
Foreign Transaction Fee: None
Annual Fee: $95
Marriott Bonvoy Business® American Express® Card
Rewards:
Welcome Bonus: Earn 125,000 Bonus Marriott Bonvoy Points after you use your new Card to make $8,000 in purchases within the first 6 months of Card Membership. Offer Ends 11/1/23.
Foreign Transaction Fee: None
Annual Fee: $125
Hilton Honors American Express Surpass® Card
Rewards:
Welcome Bonus: Earn 150,000 Hilton Honors Bonus Points + a Free Night Reward after you spend $2,000 in purchases on the Hilton Honors American Express Surpass® Card in the first 3 months of Card Membership.
Foreign Transaction Fee: None
Annual Fee: $95
Hilton Honors American Express Card
Rewards:
Welcome Bonus: Earn 80,000 Hilton Honors Bonus Points after you spend $1,000 in purchases on the Card in the first 3 months of Card Membership.
Foreign Transaction Fee: None
Annual Fee: $0
Marriott Bonvoy Bold® Credit Card
Rewards:
Welcome Bonus: Earn 30,000 Bonus Points after you spend $1,000 on purchases in your first 3 months from your account opening.
Foreign Transaction Fee: None
Annual Fee: $0
World of Hyatt Credit Card
Rewards:
Welcome Bonus: Get 30,000 Bonus Points after you spend $3,000 on purchases in your first 3 months from account opening. Plus, up to 30,000 More Bonus Points by earning 2 Bonus Points total per $1 spent in the first 6 months from account opening on purchases that normally earn 1 Bonus Point, on up to $15,000 spent.
Foreign Transaction Fee: $0
Annual Fee: $95
Pros and Cons of Travel Rewards Credit Cards
Pros:
- Rewards: One of the biggest benefits is the ability to earn rewards, such as points or miles for making purchases with the card.
- Sign-up bonuses: Many credit cards offer sign-up bonuses for new cardholders who meet a minimum spending requirement, which can be a great way to earn a substantial amount of rewards quickly.
- Additional benefits: Some credit cards come with additional benefits such as travel insurance, purchase protection, or extended warranty coverage.
- Perks: Some credit cards offer exclusive perks such as access to airport lounges, concierge services, or special event invitations.
Cons:
- Fees: Some credit cards come with annual fees, foreign transaction fees, or other fees that can reduce the value of the rewards earned.
- Limited redemption options: Some credit cards may have limited redemption options, making it difficult to redeem rewards for the benefits that you want.
- Temptation to overspend: The temptation to earn rewards can lead to overspending, which can result in high balances and interest charges.
- Complexity: Rewards credit cards can be complex, with different earning rates, redemption options, and rules for earning and redeeming rewards.
What Is a Rewards Credit Card?
A rewards credit card is a type of credit card that offers incentives or rewards to cardholders for using the card to make purchases.
These rewards can come in the form of cashback, points, miles, discounts, or other perks. The more you use the card, the more rewards you can earn, which can be redeemed for various benefits such as travel, merchandise, statement credits, or even cash. Rewards credit cards are designed to incentivize customers to use their cards frequently and to build customer loyalty for the card issuer.
However, it’s important to use them responsibly and pay off the balance in full each month to avoid accruing interest charges.
How Do Rewards Credit Cards Work?
To earn rewards with a rewards credit card, you simply need to use the card to make purchases. Each time you use the card to buy something, you earn a certain number of reward points, miles, or cashback, depending on the card’s rewards program. The best rewards credit cards offer bonus rewards for certain spending categories, such as gas, groceries, or travel.
Once you have earned enough rewards, you can typically redeem them for various benefits such as travel, merchandise, statement credits, or even cash. Redemption options and the value of rewards can vary depending on the card’s rewards program and the issuer.
How to Choose the Best Travel Rewards Card
Choosing a travel rewards credit card can be a bit overwhelming, as there are many options available with different rewards programs, fees, and benefits. Here are some factors to consider when choosing a travel rewards credit card:
Think About How Often You Travel
If you travel frequently, do you travel more by plane or do you drive? If you usually drive, then you might choose a card that rewards you for gas and hotel stays instead of air travel.
If you only travel once or twice a year, a travel card might not be worth having. Instead, you might consider one of our best cash back credit cards.
Evaluate Your Spending
You’ll want to choose a card that best fits your normal spending habits. Look at your monthly budget and identify the categories where you spend the most money. This could include groceries, dining, travel, gas, or other categories. Knowing your spending habits will help you choose a credit card that offers the most rewards for your preferred categories.
Consider the Annual Fee
The annual fee can range from a few dollars to hundreds of dollars, depending on the card and its benefits. Be sure that the rewards you earn are worth more than the fee.
Look for No Foreign Transaction Fees
The best travel rewards cards don't have foreign transaction fees. This fee is an added cost for using your card outside of the United States. It's usually about 3% of each foreign transaction you make. That fee can add up quickly. That's why carrying a card with zero foreign transaction fees is a must when you travel internationally.
Do You Prefer a Specific Hotel or Airline?
Consider whether you want a co-branded card or a general travel card. Co-branded cards let you earn points with a specific hotel or airline. When you earn enough points, you can redeem them for free stays or free flights.
If you prefer a specific airline or hotel, a co-branded card might work for you, but if you don't have a preference, go with a general travel card. General travel cards (usually) earn fewer points but offer greater flexibility.
Don't Pay for Benefits You Won't Use
Premium cards can come with high annual fees but offer more travel perks and benefits. Some travel perks can include free checked bags, travel insurance, airport lounge access, and 24/7 concierge.
Some cards may also offer a credit for TSA Pre-check to get you through an airport with a minimum amount of stress. But if you won’t use the benefits, or don’t care about the benefits, then the annual fee isn’t worth the cost. Do some math to figure out if the fee is worth it for you.
Can You Easily Earn the Welcome Bonus?
Many travel rewards credit cards offer attractive welcome bonuses, but most of them also require you to spend a certain amount within a timeframe (often three months). If you don't regularly spend that amount of money anyway, then the welcome bonus might not be worth it.
For example, if you need to spend $3000 on the card in the first three months, do you have $1,000 of monthly expenses that you can put on the card in the first three months? More importantly, can you pay off that $1,000 in expenses each month? You don't want to put yourself in debt to earn the welcome bonus.
Keep in mind you can only get a welcome bonus once, so the benefits of the card might take a dive after the first year. And if you have to change your spending habits to get the bonus, it’s not worth it.
Know Your Credit Score
Many rewards credit cards require a good or excellent credit score, typically around 670 or higher. Your credit score is based on factors such as your payment history, credit utilization, and length of credit history. A history of missed payments or high credit utilization may impact your ability to qualify for a rewards credit card.
How Can I Maximize My Rewards Earnings With a Credit Card?
Here are some tips to help you maximize your rewards earnings with a credit card:
- Choose a card with rewards that align with your spending habits: Look for a rewards credit card that offers bonus rewards in the categories where you spend the most money. For example, if you spend a lot on groceries and gas, look for a card that offers extra rewards in those categories.
- Use your credit card for all your purchases: Use your rewards credit card for all your purchases, including everyday expenses like groceries, gas, and dining out. This will help you earn rewards more quickly.
- Pay your balance in full each month: To avoid interest charges and fees that can offset the value of your rewards, pay off your credit card balance in full each month.
- Take advantage of sign-up bonuses: Many rewards credit cards offer sign-up bonuses that can be worth hundreds of dollars in rewards. Make sure you meet the spending requirements to earn the bonus.
- Keep track of expiration dates: Some rewards have expiration dates or require you to redeem them within a certain timeframe. Make sure you keep track of these deadlines to avoid losing your rewards.
- Use your rewards wisely: Choose redemption options that offer the most value for your rewards, such as travel, statement credits, or gift cards. Don’t redeem your rewards for items you don’t need or for a lower value than they’re worth.
- Consider stacking rewards: Some credit cards offer additional rewards when you shop through their online shopping portals or link your card to other reward programs. Look for opportunities to stack rewards and earn even more.
Are Rewards Credit Cards Worth It?
It really depends on how you use the rewards credit card. If you pay the card off in full and on time every month and actually use the rewards you generate then yes, they can definitely be worth it.
If you struggle to pay the card off in full every month or pay late, you are paying interest and fees that are offsetting the value of any rewards you will accumulate.
Also, if you tend to overspend when you use credit cards, or if you don’t use your rewards then rewards credit cards are probably not worth it.
Who Are Travel Rewards Credit Cards Best For?
Keep in mind that there's an aspirational carrot attached to travel rewards credit cards: the idea that you will travel more once you have a card with a big bonus or valuable rewards. However, if you don't already travel quite a bit, you might be better off with a card that rewards you for dining, gas, or groceries. If you do travel often then travel rewards cards can be a valuable addition to your wallet.
If you mostly travel for business, a business card might offer rewards and perks better suited to your travel needs.
Is There a Limit to the Rewards I Can Earn With My Credit Card?
Not really. The average user will not come up against limits on earnings of rewards. There may be bonus categories that earn extra points up to certain limits, but you’ll still be able to earn points as regular spending after that limit is reached.
However, there can be “shadow” limits in place for those who abuse the programs. Trying to get around the rules may cause your points to be canceled and for you to be removed from the program.
For the average user, here are some common types of limits you may encounter with a rewards credit card:
- Spending limits: Some rewards credit cards may have limits on the amount of rewards you can earn in a specific category or within a certain time frame, such as a month or a year. For example, they may offer extra cash back on gas for the first $500 spent on gas per month.
- Redemption limits: Some rewards credit cards may have limits on the amount of rewards you can redeem at one time or within a certain time frame, such as a month or a year.
- Account limits: Some rewards credit cards may have limits on the total rewards you can earn or redeem over the life of the account.
It’s important to read the card’s terms and conditions to understand the limits of the rewards program and how they may impact your ability to earn and redeem rewards.
Can I Redeem My Rewards for Cash?
Yes, in many cases, you can redeem rewards earned with a credit card for cash. However, the specifics of cash redemption options will depend on the card’s rewards program and terms and conditions. Here are some common ways you may be able to redeem rewards for cash:
- Statement credit: Many rewards credit cards allow you to redeem rewards for statement credits, which can effectively reduce your account balance or provide you with cash back.
- At the retailer: Some cards will link to your Amazon or PayPal account and you can use your rewards to pay for things when you shop.
- Direct deposit: Some rewards credit cards may offer direct deposit options for cash redemption, allowing you to receive the cash directly into your bank account.
- Check: Some rewards credit cards may offer the option to receive a physical check for cash redemption.
It’s important to note that the value of rewards when redeemed for cash may be lower than the value when redeemed for other rewards, such as travel.
Frequently Asked Questions (FAQ)
What's the best way to redeem travel rewards?
Travel rewards are usually variable, meaning they can be worth more or less depending on how you redeem them. Most travel credit cards partner with various airlines or hotels and offer the best bang for your travel points when you transfer the points to a partner loyalty program. You'll get the highest value using your rewards for travel, although it does require some research. Usually, the least valuable way to redeem your points is to take them as a statement credit.
How many points or miles do I need to get a free flight?
Some airlines have straightforward reward charts, and some either don't publish them at all, or they're incredibly complicated. In general, the number of points or miles you need will depend on factors like destination, airline, travel dates, and credit card. You'll need fewer points for a short, domestic coach flight and more points for longer flights and to fly first class.
What's the best credit card for traveling abroad?
Look for a card with no foreign transaction fees. After that, you'll need to do some research to find the best card for you. Weigh the benefits against the annual fee, and consider how much you'll use those benefits. If you only travel abroad once or twice a year, consider whether you need a travel card at all, and if you might do better with a cash back credit card instead.
Final Thoughts
The top travel rewards credit cards include those that offer generous sign-up bonuses, high rewards rates in popular spending categories, and flexible redemption options. Choose a travel rewards credit card that aligns with your spending habits and financial goals. Compare fees and other costs associated with each card, including annual fees and foreign transaction fees.
The bottom line here is that the best travel card is the one that fits your needs. Think about how you travel and what card would offer you the best benefits and rewards that you would actually use.