The Top 5 Rewards Cards for Travelers

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If you’re looking for a way to finance some holiday travel, you may want to consider signing up for a new credit card now. BillShrink.com, a search engine that helps users find the best credit card based on their unique spending habits, has highlighted five credit cards that offer the best travel rewards to users.  

These credit cards can help you score some cheap plane tickets, hotels or car rentals and save you from wasting dollars on pesky foreign transaction fees. Those transaction fees can add up, especially since most issuers charge a 2%-3% foreign transaction fee for purchases made outside the U.S.

Our vote for the best on BillShrink’s list is the Capital One Venture Rewards Card, which doesn’t charge the international convenience fee and pays for the 1% fee that Mastercard imposes on its debit cards. This rewards card also offers 2 miles for every dollar spent, plus 10,000 miles after one purchase. As BillShrink.com points out, this is essentially a $100 credit for an airline purchase that you can use at anytime. There are no blackout dates.

You’ll receive 10,000 bonus miles if you spend $1,000 in your first three months and Capitol One also waives its annual $59 card fee for the first year you sign up.

Here’s a breakdown of the other four cards that make the list.

CapitalOne Orbitz Visa Platinum: Eliminates foreign transaction fees. If you book your airfare, hotel or car rental on Orbitz.com, you’ll receive three points per dollar spent. Booking elsewhere nets you one point for each dollar you spend. Points can be redeemed for travel, merchandise, gift cards and more and you’ll get 250 bonus points for simply redeeming them. Additionally, you don’t have to pay an annual fee to keep the card.

Chase Sapphire Preferred Card: This card is perfect for frequent flyers or big spenders because it awards 25,000 bonus points (enough for a free flight) to cardholders who spend $3,000 in the first three months of their contract. You’ll also earn 7% interest on all accumulated points and get double points for any airfare you book through Chase’s Ultimate Reward Program. You can use these points anytime. Chase also waives its $85 annual fee for the first year you sign up. The card’s drawback is you still have to pay a 3% foreign transaction fee.

Discover Escape Card: Discover will give you 1,000 bonus miles each month you make a purchase for your first 25 months so, at the onset, there are 25,000 bonus miles on the table. Additionally, you’ll receive double miles on each purchase, which can be redeemed for travel, gift cards or even cash. If you use online retail hub ShopDiscover.com, you’ll receive an additional two miles for every $1 you spend. Discover does, however, charge a 2% foreign transaction fee.

American Express Starwood Preferred Guest Card:
Touted as a card for consumers with great credit, this American Express Card offers a sign-up bonus of 10,000 points, which is good enough to pay for three nights at the worldwide Starwood hotel chain that lends the card its name. Additionally, you’ll receive two points for every dollar spent at a Starwood resort and one point per each $1 spent on all other purchases.There is no limit to the number of points you can earn with this card and they’ll waive their $45 annual fee the first year. Just be aware that you will be charged a 2.7% foreign transaction fee.

Using a credit card rewards program is a great way to save on summer travel. Want some more ideas on how to save? Check out this MainStreet article to find out the best cities for summer hotel deals.

—For the best rates on loans, bank accounts and credit cards, enter your ZIP code at BankingMyWay.com.

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