What makes the best credit cards? A few major points stand out. Here are the 5 main benefits of a credit card: access to Airport lounges, statement credits, price/purchase protection, and hotel perks. Learn more about them. Also, check out our review of the best cards. These cards are a good choice for almost everyone. Listed below are the 5 key advantages of the best credit cards.
Airport lounge access
A credit card with lounge access is a golden ticket for frequent travelers. These lounges are often much more luxurious than common airport areas. In fact, some airports even feature shower suites and nap rooms. Some have even got gyms and spas. Other benefits include free food and beverages, Wi-Fi connections, and charging stations for electronics. While airport lounge access isn’t free, it can be worth it.
There are a few credit cards that offer access to airport lounges. One of the most popular is the Amex Platinum card, which grants cardholders free access to the Amex Global Lounge network, which includes the American Express Centurion lounge, Delta Sky Club lounge, and the Priority Pass lounge. Depending on the airport, Amex lounges also have different guest policies. Some will allow up to two additional guests, while others won’t.
Access to airport lounges with the best credit card depends on how much you value lounge membership. Many airport lounge memberships cost $450 or more per year. The best travel credit card with airport lounge access is the one that offers a reasonable annual fee. Also, you should consider the benefits provided by the card – is it just lounge access, or are there other benefits that make it worth it? While there are some cards that offer access to airport lounges for free, most require an annual membership fee.
Whether you’re a frequent traveler or a first-class flyer, there are many benefits of airport lounges. These lounges are often equipped with comfortable seating, free food and beverages, and other over-the-top amenities. While these lounges might seem exclusive to frequent travelers, airport lounge access is open to all. The best travel credit cards offer access to airport lounges for free or at a discount.
Statement credits
Statement credits are money that a credit card company credits to your account, rather than placing it in your pocket. It’s great if you made a mistake, or even just returned something, because it will be taken off your balance, rather than counting toward your minimum payment. The great thing about statement credits is that you can use them to reduce your balance, as well as earn rewards points.
Cash back credit cards may offer several different redemption options, but the most popular ones are generally a statement credit. Cash back credit cards typically allow you to redeem your rewards for statement credits, and many issuers allow you to choose the amount you want to spend. Some cash-back cards will offer a minimum of $25 in statement credits, while others will allow you to redeem any amount of points for cash back.
Other benefits of statement
Other benefits of statement credits include free shipping and returns. With these perks, you can receive up to $300 in credits every year, which can help you lower your annual fee. You can even apply them to a previous purchase if you didn’t like it. But be sure to read the fine print. You may need to enroll in the program in order to take advantage of the offer. However, the extra cash can be used for other things, and statement credits can also reduce your total spending.
Some high-end credit cards offer valuable perks, such as recurring statement credits. A United Explorer Card can offer a $100 statement credit after you complete an application for Global Entry, while Chase Sapphire Reserve can give you a $100 statement credit for TSA PreCheck. These benefits are also incredibly valuable to you, and can make a difference when choosing a credit card. It’s worth it to use statement credits as a way to improve your lifestyle, and earn rewards for the long run.
Hotel perks
There are many ways to maximize your rewards with hotel credit cards. Many offer substantial sign-up bonuses when you spend a specified amount within a specified time period. These offers enable you to immediately experience the benefits of a new card. By spending on the benefits and amenities offered by the hotel, you’ll be able to save money for your next trip. Other perks of hotel credit cards include concierge services, free Wi-Fi, and perks like early check-in and late checkout.
A hotel credit card with automatic elite status may offer more benefits, such as free breakfast, room upgrades, and resort fee credits. It may also offer access to airport lounges, general travel credits, and discounts from travel vendors. Some cards even give you the chance to climb the elite status tiers. This is an excellent benefit for heavy spenders. However, not all hotel credit cards offer these perks. As a general rule, a hotel credit card with automatic elite status is better than one with a tier lower than the one you already hold.
Using a credit card that offers price/purchase
A hotel credit card with a welcome bonus is a great option for frequent travelers. If you’re looking to maximize your rewards, a credit card with a hefty sign-up bonus is a good option. This card earns two miles for every dollar spent, including purchases at Hilton hotels. In addition, the card comes with a no annual fee, which is an added perk for frequent travelers.
For nonhotel rewards, Hilton Honors American Express Surpass(r) Card is a great option. You’ll get 130,000 Hilton Honors bonus points after spending $2,000 within 3 months. That’s good enough for 26 free nights at a Category 1 hotel. The card also comes with free high-speed Internet access, complimentary room upgrades, and a 25% bonus on points earned on eligible Hilton stays. However, the sign-up bonus isn’t as lucrative as other hotel credit cards.
Price/purchase protection
Using a credit card that offers price/purchase protection is an excellent way to avoid the pitfalls of buyer’s remorse or feeling duped after purchasing an item. However, price protection has some caveats that you should be aware of. You must keep track of prices and file a claim within a certain time limit. You can also make a price comparison before you purchase an item to maximize your price protection benefits.
While price/purchase protection isn’t as flashy as other benefits, it is a valuable feature that can save you money on purchases. Depending on the credit card and the amount you spend, it can mean hundreds or even thousands of dollars in purchases each year. You can claim for up to $50,000 per calendar year from major network issuers. Make sure to provide all necessary documentation to speed up the claims process.
The best credit cards will offer price/purchase protection if you make certain purchases. While some premium credit cards have no purchase protection, others don’t. To see if yours offers the best price/purchase protection, check the fine print. Depending on the card you choose, you may not be able to make multiple claims in one year. Nevertheless, if you’re able to make a price/purchase protection claim, you’ll be able to get back the amount you spent for a certain item.
When deciding which credit card to apply for, it’s important to check your credit report and score. Most credit cards require excellent or good credit, with a FICO(r) score of 670 or higher. Use the Experian CreditMatch tool to match you with the right credit card. Despite these restrictions, price/purchase protection is an excellent benefit for consumers.
No foreign transaction fees
No foreign transaction fees are a boon to travelers, as these fees can significantly affect the amount of money you can spend abroad. However, they are not the only benefit to this type of credit card. The annual percentage rate (APR) of a credit card is another important consideration. Some credit cards with rewards programs may have higher APRs, which can negatively impact your ability to carry a balance on your card and make purchases abroad. Also, make sure you know how much interest you’ll have to pay if you don’t make payments on time. To find the best no foreign transaction fee credit card, use a tool that helps you identify your credit card spending habits.
Generally, the amount of foreign transaction fees is listed in the Schumer box of the card’s terms and conditions. The Schumer box is the place to find the fee. When the Schumer box is empty, the card has no foreign transaction fee. Many card issuers charge this fee because it requires extra processing and dealing with foreign banks. Some banks charge this fee to offset the risk they incur when dealing with customers from other countries.
While no foreign transaction fees are an attractive feature for travelers, you should still research the acceptance of your card in the country you’re visiting. No foreign transaction fee credit cards may be useful in one way, but if you don’t know where you’ll be spending most of your time, you’ll be wasting money. Listed below are the best no foreign transaction credit cards. You can apply for one of them now!