Choosing the right travel credit card can significantly enhance your travel experiences, offering rewards, perks, and savings that can add up to substantial value. With a plethora of options available in 2024, it’s crucial to select a card that aligns with your spending habits and travel goals. Whether you’re a frequent flyer, a hotel enthusiast, or simply looking to earn rewards on everyday purchases, there’s a travel credit card designed for you. This guide breaks down some of the top contenders in the travel credit card arena for 2024, helping you make an informed decision and embark on your next adventure with greater financial savvy.
Chase Freedom Unlimited®
Best for Building Credit and Flexible Rewards
The Chase Freedom Unlimited® card stands out as an excellent option for individuals looking to build their credit score while simultaneously accumulating valuable travel rewards. Unlike many travel-centric cards that demand a strong credit history for approval, the Freedom Unlimited offers a more accessible entry point into the world of travel rewards. While technically categorized as a cash-back card, its rewards ecosystem becomes particularly potent when paired with a Chase Ultimate Rewards®-earning card, such as the Chase Sapphire Preferred®. This combination allows you to convert your cash-back rewards into highly valuable Chase Ultimate Rewards points, unlocking a realm of travel possibilities.
Earning Rewards: The Chase Freedom Unlimited® boasts a straightforward yet rewarding earning structure. Cardholders earn:
- 5 points per dollar on travel purchases made through the Chase Ultimate Rewards portal. This encompasses flights, hotels, car rentals, and cruises, providing a significant return on your travel spending.
- 3 points per dollar at drugstores and on dining purchases. This broad category includes restaurants, cafes, bars, and takeout, making it easy to rack up points on everyday expenses.
- 1.5 points per dollar on all other purchases. This flat-rate reward on every other purchase ensures that you’re consistently earning rewards, regardless of spending category.
Additional Perks: As a no-annual-fee card, the Chase Freedom Unlimited® understandably offers a more streamlined suite of perks compared to premium travel cards. However, it does provide valuable shopping and auto rental insurance protections, adding a layer of security and peace of mind to your purchases and travels.
Annual Fee: $0
Foreign Transaction Fees: 3%
Welcome Bonus: New cardholders can earn a welcome bonus of $200 cash back (equivalent to 20,000 points) after spending $500 on purchases within the first three months of account opening. Furthermore, for the first year, you’ll enjoy an elevated earning rate of 5% cash back on combined gas station and grocery store purchases (on up to $12,000 spent).
Redeeming Rewards: The flexibility of Chase Ultimate Rewards points is a major advantage. Points can be redeemed for cash back, gift cards, or travel through the Chase portal. However, the most lucrative redemption often comes from transferring points to Chase’s impressive array of travel partners, including airlines like United, Southwest, and British Airways, and hotel chains like Hyatt and Marriott. For example, transferring points to British Airways can unlock short-haul economy flights on partner airlines like Alaska Airlines, such as a flight from Seattle to Los Angeles, often for fewer points than booking directly.
The Platinum Card® from American Express
Best for Premium Air Travel and Luxurious Lounge Access
For discerning travelers seeking a premium experience, The Platinum Card® from American Express stands as a heavyweight champion. This card is packed with high-value benefits and rewards, designed to elevate every aspect of your journey, from airport lounges to luxury hotels. While it carries a significant annual fee, the extensive perks and earning potential can readily offset this cost for frequent travelers who maximize its offerings.
Earning Rewards: The Platinum Card® focuses its rewards power on air travel and prepaid hotels booked through American Express Travel, offering:
- 5 Membership Rewards® points per dollar on flights booked directly with airlines or through Amex Travel, on up to $500,000 in purchases per calendar year. This high earning rate on airfare makes it ideal for frequent flyers.
- 5 Membership Rewards® points per dollar on prepaid hotel bookings made through Amex Travel.
- 1 point per dollar on all other eligible purchases.
Additional Perks: American Express strategically loads The Platinum Card® with a wide array of statement credits and benefits designed to mitigate its hefty annual fee and enhance the cardholder experience. These perks include:
- $200 Airline Fee Credit: Receive up to $200 in statement credits annually towards incidental fees with your selected qualifying airline (e.g., baggage fees, seat selection).
- Up to $200 Uber Cash: Enjoy up to $200 in annual Uber Cash, distributed in monthly increments, for Uber rides and Uber Eats orders in the U.S.
- Up to $200 Hotel Credit: Receive up to $200 in statement credits annually for prepaid bookings at hotels within the Amex Fine Hotels + Resorts® or The Hotel Collection, requiring a minimum two-night stay.
- $300 Equinox Credit: Get up to $300 in statement credits per year towards Equinox fitness club memberships or the Equinox+ digital fitness app.
- $240 Digital Entertainment Credit: Earn up to $240 annually in statement credits for eligible digital entertainment subscriptions, such as Peacock, Audible, The New York Times, and more.
- $199 CLEAR® Plus Credit: Receive up to $199 in statement credits per year to cover the cost of a CLEAR® Plus membership, expediting your security screening process at select airports.
- Global Entry or TSA PreCheck® Credit: Get reimbursed for either a Global Entry ($100) or TSA PreCheck® ($85) application fee every four years.
- Up to $100 Saks Fifth Avenue Credit: Receive up to $100 annually in statement credits for purchases at Saks Fifth Avenue, split into two $50 credits issued semi-annually.
- Cell Phone Protection: Benefit from cell phone protection against damage or theft when you pay your monthly cell phone bill with your Platinum Card®.
- Extensive Airport Lounge Access: Enjoy access to both the American Express Centurion Lounge network and Priority Pass Select lounges, providing comfortable and complimentary airport lounge access worldwide.
- Hotel Elite Status: Receive complimentary Hilton Honors Gold and Marriott Bonvoy Gold Elite status, unlocking perks like room upgrades (upon availability), bonus points earning, and more.
- Shopping and Travel Protections: The card also includes shopping protections, baggage insurance, and rental car insurance, offering valuable coverage during your travels and everyday purchases.
- Resy Partnership: Access exclusive restaurant reservations and culinary experiences through Amex’s partnership with Resy.
(Enrollment is required for many of these benefits. Terms and limitations apply to all perks and statement credits.)
Annual Fee: $695
Foreign Transaction Fees: $0
Welcome Bonus: Welcome offers can vary, but often include substantial Membership Rewards® points bonuses after meeting a spending requirement within the first few months of card membership. Check the American Express website for the most up-to-date welcome offer.
Redeeming Rewards: American Express Membership Rewards® points offer a wide range of redemption options. You can redeem points for statement credits, gift cards, or merchandise, but the highest value typically comes from transferring points to Amex’s diverse network of airline and hotel partners. These partners include top international carriers like Delta, British Airways, Air France-KLM, and hotel chains like Marriott, Hilton, and Hyatt. Strategic point transfers can unlock premium cabin flights and luxurious hotel stays, often at significantly reduced costs compared to cash bookings.
Choosing the “best” travel credit card ultimately depends on your individual travel patterns, spending habits, and desired rewards. Carefully consider your priorities and compare the features and benefits of each card to find the one that best aligns with your travel aspirations for 2024 and beyond.
