FOSTER CITY, Calif.,
May 25, 2021 /PRNewswire/
-- Vaccinations are still rolling out and with travel
restrictions being lifted, many Americans are planning that
long-awaited summer getaway. Whether it's a road trip, cruise or
hotel stay, consumers may turn to credit cards to help foot the
bill and MyBankTracker.com is releasing guidance on how to
pick the perfect card for their lifestyle. Simon Zhen, senior research analyst for the
financial comparison site, suggests:
1. Review Your Previous Travel Spending: Look at
prior trips and identify any patterns in travel spend.
- Consumers may find they frequent specific airlines or hotels
and could benefit from opening a branded card geared toward extra
benefits like free checked bags or hotel upgrades
- Cardholders might recognize they're not brand loyal so a
non-branded card with flexible programs is a better
choice
- Credit card users who don't travel frequently enough to make a
travel card worthwhile might want to consider a cash back
credit card
- Pro tip: International travelers could benefit from a rewards
card with no foreign transaction fees that also covers Global Entry
fees
2. Think About Future Travel Plans: Consider any planned
trips over the next two years. Check flight, cruise and
lodging prices now to gain a better understanding of costs; then
think about how to maximize the rewards that may be earned. It's
helpful to see if a card offers extra perks to make the trip a bit
more luxe, such as airport lounge passes, free checked bags or
priority boarding.
3. Compare the Annual Fee to Quantifiable Perks: Many of
the lucrative travel rewards credit cards have high annual
fees around $500 or more. Consumers
shouldn't rule these out just because of the fee - smart spending
can enable a cardholder to earn enough rewards to more than
offset the annual fee. Think about it this way: if someone eats out
often, a card with a dining out bonus category can easily turn
those points into travel rewards.
4. Maximize Travel Rewards Redemption: Cardholders should
be aware of the actual value of the earned rewards. Many premium
travel cards offer various methods to redeem points and miles--some
can yield more value. For example, the points could be worth
more if redeemed through the issuer's booking portal.
"Figuring out which credit card is the right fit is not as
straightforward as you may think," cautions Zhen. "Instead of
simply choosing a card because of its welcome bonus or rewards
rate, find a match that fits your unique spending habits. What
types of purchases make up the most of your spending? You'll likely
discover a pattern that could help you maximize your rewards if you
choose the card that matches your financial habits."
View all the in-depth tips here, How to Choose a Travel
Rewards Credit Card
Zhen is available to comment on MyBankTracker's picks for
the best travel credit cards of the season, the
methodology used to pick them, and the overall landscape of the
credit card industry.
About MyBankTracker
MyBankTracker is owned and
operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in
providing performance marketplace technologies and services to the
financial services and home services industries. QuinStreet is a
pioneer in delivering online marketplace solutions to match
searchers with brands in digital media. The company is committed to
providing consumers with the information and tools they need to
research, find and select the products and brands that meet their
needs. MyBankTracker is a member of QuinStreet's expert research
and publishing division.
MyBankTracker is an independent comparison website helping
consumers make smart banking and financial decisions. The mission
is to match consumers to their perfect bank by providing and
tracking in-depth information on more than 5,000 banks, credit
unions and financial products. Using a combination of technology
and money management expertise, MyBankTracker provides personal
finance comparison tools and educates consumers to optimize their
relationships with banks and lenders.
Twitter: @mybanktracker
Facebook: https://www.facebook.com/mybanktracker
Media contact
Amy
Eury
Public Relations Manager
412-532-9352
aeury@quinstreet.com
LinkedIn
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SOURCE MyBankTracker.com