Travel credit cards are some of the most common credit cards out there. If you love to travel and you want to travel more easily, a travel credit card may be exactly the right choice for your family. Sign-on bonuses are also extremely common with travel credit cards, so you might want to compare and contrast the bonuses from different travel credit cards. Here’s how you can find the best travel credit card deals when you sign up.
1. The Dollar Amount of the Bonus
Obviously, you first want to see how much the bonus itself will be. In travel credit cards, it’s extremely common to get your bonus as a number of points, which you can then redeem for travel purchases. Check how much these points are typically valued at; if you’re careful with how you use them, you may even be able to get more than the baseline value.
2. The Purchase Requirement
Next, look at how much you need to spend in order to qualify for the credit card bonus. This is where some people, especially people who don’t often spend a lot of money on credit cards, can end up getting tripped up. You need to make sure that you’ll be able to meet the purchase requirement with your normal credit card spending. Otherwise, you’re just spending extra money, which may end up sending you into credit card debt to receive a bonus that isn’t as helpful.
3. The Time Length for the Requirement
How long do you have to spend the required amount of money to get your bonus? It’s most common to see requirements around three months. To see whether you’ll be able to hit a three-month requirement, divide the required purchase amount by three, then see whether that’s a normal amount for your family to spend on credit cards every month. If it’s more than you typically spend, you might want to rethink that specific credit card.
4. The Card’s Annual Fee
The last thing you want to look at is the annual fee of the specific card that you’re interested in signing up for. Cards with no annual fee are often the cards that people look at first, and if your budget isn’t very high, they might be the right option for your budget. However, it’s also important to remember that cards with an annual fee may give more benefits on average, meaning that they could end up paying off significantly.
Travel credit cards are a great way to save extra money if your family really enjoys travel. However, not all travel credit cards are created equal, and on top of that, not everyone will get the most use out of the same credit cards. If you want to make sure you’re getting the best travel credit card for the way you use credit cards, these are the four things you’ll want to compare. That way, you’re getting a bonus that really works for you.