Pick The Best Travel Credit Card For 2018

Applying for credit cards can be confusing, which makes applying for travel credit cards even more confusing. There are so many to choose from and it can be almost impossible to make a decision. Ultimately, the kind of credit card that you should be looking for is one that suits your individual needs, which can be quite hard to do because there are so many out there to choose form.  If you’re wondering what you should be looking for in a travel credit card, let us help. Here we have some tips on what you need to look out for when choosing your 2017 travel credit card.

Sign-Up Bonus

While sign up bonuses shouldn’t be the deciding factor of the travel card you choose, they can have an effect on your spending and help you get the most out of your credit card. Make sure you take the time to compare bonuses and think about the difference in both the long term and short term benefits of the credit cards you consider.

Rewards

Like sign-up bonuses, rewards can influence your decision but shouldn’t be a deciding factor. One of the biggest problems that comes from reward programmes is that certain providers may revise their rewards programmes after you have purchased your card, resulting in the points you collected being worth less than you had expected. Make sure you read the terms carefully and consider a generic travel credit card more seriously than one provided by an airline or hotel.

Low Interest Rates

If you’re planning to do a fair amount of spending abroad on your travel credit card and don’t imagine that you would be able to pay it off in full regularly, you need to keep a good eye out for the interest rates. Look for credit cards with low APR to avoid piling up interest and when you use your credit card, pay off what you can as soon as possible to avoid getting charged even more.

Additional Charges

Most travel credit cards come with some additional charges, including annual fees and cash-withdrawal fees. Before you apply for your travel card, check with the provider to find out what sort of fees you might be able to expect. You probably will want to keep them to a minimum to avoid being charged double for almost everything you buy abroad. It’s also possible to get cards with 0% fees for withdrawals and spending, however you should still be careful when withdrawing cash abroad to avoid interest charges.

Minimum spending

Not all cards have minimum spending requirements, but those that do can be a little bit tricky. Cards with impressive sign-up bonuses sometimes ask that you meet a minimum spending requirement in order to access the bonus. While this isn’t always bad, meeting the minimum spending requirement means that you have to be pretty strict with yourself when it comes to paying off the card regularly, otherwise you’re going to collect more interest than you should have. With a low spending minimum, you can access the sign-up bonuses, use the card without worrying, and easily pay it off at the end of the month.

While travel credit cards can be a great asset is you regularly travel, they require an excellent credit score in order to apply for them. At LoanPig, however, we look beyond your credit score when you apply for a loan and put you in touch with a lender that‘s right for you. So, if you’re in need of a bit of extra cash, apply for a payday loan today.