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Business News/ Money / Personal Finance/  Love to travel? Here’s how to choose your perfect travel credit card with maximum benefits
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Love to travel? Here’s how to choose your perfect travel credit card with maximum benefits

If you travel to foreign countries often, your priority will be securing the local currency, which is where travel cards come into use. They provide an easy, convenient, and secure method for overseas transactions, making them an ideal choice for international travel.

 A travel credit card offers you discounts, reward points and cashback on your travel expenses. FILE - (AP Photo/Rick Bowmer, File) (AP)Premium
A travel credit card offers you discounts, reward points and cashback on your travel expenses. FILE - (AP Photo/Rick Bowmer, File) (AP)

There’s no denying the fact that India's tourism industry is on a boom. With conversations shifting toward sustainability in travel, everyone is seeking a responsible and cost- effective travel experience. People want to make smart travel choices, and hence, they opt for travel credit cards. A travel credit card offers you discounts, reward points and cashback on your travel expenses. It also provides you with other benefits like lounge access and travel insurance.

If you are looking for an ideal travel credit card, this article is for you. This article explores the potential of travel cards and explains how to extract maximum benefits for an unforgettable and budget-friendly holiday.

When and where should you use travel credit cards?

If you travel to foreign countries often, your priority will be securing the local currency, which is where travel cards come into use. They provide an easy, convenient, and secure method for overseas transactions, making them an ideal choice for international travel.

The travel credit cards are a reliable companion throughout your journey if you book hotels and flights or settle bills at restaurants. These cards offer more than just travel benefits. They offer reward points, lounge accesses, loyalty programs, stay vouchers, welcome perks, and other benefits.

Also Read: Travel Insurance: Flight cancelled or delayed due to fog? 5 important points to keep in mind

Co-branded travel credit card and its benefits

Travel credit cards come in two main categories- Co-branded and Generic. Co-branded cards are specifically designed in partnership with brands including airlines, travel portals, or railways. Some examples of co-branded travel credit cards are Axis Bank Vistara Signature Credit Card, Standard Chartered EaseMyTrip Credit Card, Yatra SBI Card and IRCTC SBI Card Premier.

Now, one might opt for these co-branded travel credit cards because of the extra benefits associated with them. If you fly Vistara quite often, you can go for a Vistara co-branded credit card. If you like booking your trips through EaseMyTrip, a co-branded card is an excellent choice. So, a great practice here is to identify where and how you spend the most amount of your money and check for a co-branded credit card if there’s any. It will offer little extra perks than your generic travel credit card.

Choosing the right travel cards

Choosing the right travel card requires a thoughtful consideration of several vital factors.

- Start by evaluating the card's annual fees, foreign transaction costs, and rewards program. Assessing your travel preferences and spending habits is crucial to aligning the card with your needs.

- Consider whether you prefer cashback, points, or miles as part of the rewards system.

- Look for the cards that give you good sign-up bonuses and understand how everyday spending can maximise benefits.

- Additionally, check for perks such as travel insurance, lounge access, and concierge services.

The ideal travel card should complement your financial preferences and cater to your lifestyle, ensuring wonderful travel experiences. Whether you're a frequent flyer or a casual explorer, choosing a card that complements your lifestyle is key.

Also Read: Ready for the next trip? Here’s why travel insurance is a must

Understanding reward points on your credit card

It’s simple: you earn reward points on every transaction. Everyday spending can give you maximum reward points. So, if you’re getting a travel credit card, you can also use it in your everyday expenses to earn maximum reward points and redeem those during your vacations.

But don’t forget to be careful with your spending. Being mindful of your spending can make your travel experiences better. Happy travelling!

 

(The author is the Founder & CEO of IndiaLends, an online marketplace for credit products - personal loans and credit cards)

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Published: 25 Jan 2024, 11:41 AM IST
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