8 Tips to Apply for a Credit Card You Can Use for Your Travels
Traveling is one of life’s greatest pleasures, but it doesn’t come free. Spending a lot of time outside your comfort zone always costs money, and you may never know exactly how much until both your predicted expenses and unexpected costs start racking up.
A credit card designed specifically for travelers can make your journey out of your hometown or city a lot more convenient, hassle-free, and budget-friendly. With the right card, you’ll likely be able to distribute your spending more evenly, earn rewards on your travel expenses, access exclusive perks, and protect yourself against travel mishaps.
Fortunately, plenty of travel-friendly issuers offer online credit card application processes, making it easy for avid jetsetters like you to access a wide range of credit card options. But which card should you apply for, what exactly should you prepare, and how should you go about the application process itself? This guide will provide you with tips to help you find the perfect travel credit card companion for your future adventures both within and outside the country.
1) Assess Your Travel Habits
If you want a credit card that suits your particular travel lifestyle, it’s essential to understand your own travel habits first. Consider how often you travel. If you’re a frequent traveler, you’ll benefit more from a card that offers higher rewards for travel-related purchases. Similarly, think about where you typically travel. If you often travel internationally, you’ll want a card with excellent international perks, such as no foreign transaction fees and global acceptance.
Having a good grasp of your spending patterns is equally important when choosing a credit card. Identify where you spend the most money while traveling—whether it’s on flights, hotels, dining, or other travel expenses. Some cards offer bonus points or miles for specific spending categories. You’ll be able to maximize the benefits of a card that offers perks and rewards for expenses that you consider to be essential to your travel experience.
Do you want to be rewarded for using your card both at home and while you’re away? It’s recommended that you sign up for a good travel credit card whose spending power you can enjoy everywhere. If you’re based in the Philippines, look into the Landers Cashback Everywhere Credit Card from Maya, a dual credit card and Landers Superstore membership card that allows members up to 5% cashback on Landers purchases, 2% cashback on spends from dining establishments, and 1% on other qualified transactions. The latter may come in handy for travel-related purchases, especially given that the Landers Cashback Everywhere Credit Card is a VISA card accepted worldwide.
2) Look for a Strong Rewards Program
A generous rewards program is a key feature of any good travel credit card. Look for cards that offer points or miles on travel-related purchases. These rewards can usually be redeemed for flights, hotel stays, car rentals, and other travel expenses. In addition, some cards even promise higher reward rates for travel spending, which can help you accumulate points faster.
Also consider the flexibility of the rewards program. Your card may offer flexible redemption options by allowing you to use your points or miles for a wide range of travel expenses, for example. Another card you’re thinking about applying for may have partnerships with airlines and hotels, which can make it easy for you to transfer your points to loyalty programs. Choosing a rewards program that suits your needs helps you ensure that you get the most value from your travel spending.
3) Take Advantage of Sign-Up Bonuses
Many travel credit cards offer attractive sign-up bonuses that can significantly boost your rewards balance. These bonuses typically require you to spend beyond a particular threshold within the first few months of opening the account. If you have a big trip or significant purchases planned, it will be easier to meet the spending requirement.
Sign-up bonuses can provide a substantial number of points or miles, which you can redeem while planning your trip. This initial boost can jumpstart your rewards earning and provide immediate value. Whenever you’re applying for a credit card, read the terms and conditions to understand the requirements and take full advantage of the sign-up bonus.
4) Avoid Foreign Transaction Fees
If you frequently travel abroad, you’ll benefit well from credit cards that can help you avoid foreign transaction fees. These fees are typically around 3% of each purchase made in a foreign currency and can quickly add up, thus increasing the cost of your trip.
The good news is that many travel credit cards waive foreign transaction fees, allowing you to use your card abroad without incurring extra charges. Aside from saving you money, using a card with no foreign transaction fees promises you utmost convenience. With it, you can make purchases without worrying about additional costs, and you’ll often get a better exchange rate than if you were to exchange cash.
5) Consider the Annual Fee
Annual fees are common with travel credit cards, but they can vary significantly. While some cards have no annual fee, others can charge USD 100 or more. It’s important to weigh the benefits of the card against the cost of the annual fee. If the card offers valuable perks that you’ll use, such as travel credits, lounge access, or enhanced rewards, it may be worth paying the fee.
Keeping this in mind, calculate the value of the card’s benefits to determine if they outweigh the cost of the annual fee. For example, if a card offers a PHP 10,000 travel credit and charges a PHP 5,000 annual fee, you’re essentially gaining PHP 5,000 in value. However, if you don’t use the perks, a no-fee card might be a better option.
6) Check for Travel Insurance and Protection
Travel can be unpredictable, and having a credit card that offers travel insurance and protection will provide you with some much-needed peace of mind. Many travel credit cards include various types of travel insurance, such as trip cancellation or interruption insurance, lost luggage reimbursement, and emergency medical coverage. These can save you both money and grief if something goes wrong during your trip.
Additionally, some cards offer purchase protection, extended warranties, and rental car insurance. These benefits mean added value and assurance beyond your travels.
7) Enjoy Airport Lounge Access
Airport lounge access can be a valuable perk for frequent travelers. If you typically find yourself waiting for your flight, you’ll be glad to know that some premium travel credit cards offer complimentary access to airport lounges. This perk means you can have a comfortable and quiet space to relax before the next phase of your journey.
8) Check Credit Score Requirements
Finally, ensure that your credit score meets the requirements for the card you want to apply for. If your credit score is lower than what the credit card issuer requires, you might need to work on improving it before applying.
Knowing the credit score requirements for your travel credit card can save you time and prevent unnecessary hard inquiries on your credit report. Once you know your score, you can apply for a card that matches your credit profile.
As seen above, a travel-friendly credit card can significantly enhance your travel experiences thanks to the valuable rewards, protection, and perks that come with it. Choose the right card and use it strategically, and your travels will be all the more enjoyable for it.
More Stories
