You must educate yourself on the rewards programs of your travel credit card before you can take advantage of its full benefits. Most travel cards’ rewards programs have terms and conditions that determine how you can earn and redeem the accumulated points.
You can read the terms and conditions of the credit card rewards program at the credit card site. You can also call the customer support of the credit card company and ask them to explain to you thoroughly about the travel credit card’s rewards program.
Many travel credit cards allow you to earn points when you swipe the card for traveling expenses. You earn more points when you are spending on traveling expenses and lesser points on non travel related purchases. Some rewards programs will offer more values for your points when you redeem them for certain items for example car rental and airfare.
There will also be a sign up bonus which entitles you to earn a large amount of points if your total spending meets the minimum requirement within a specific period of time. The signup bonus will be able to help you to get a few hundred dollars worth of travel voucher which you can use to cover some of your traveling expenses.
If you want to take advantage of the signup bonus, you must calculate to see if you will be able to spend enough money to meet the minimum requirement to claim it. Otherwise, it will be useless to apply for a travel credit card with a great signup bonus program.
If you plan to have vacation in Europe or Asia, you should look for a travel rewards credit card with no foreign transaction fee. In this way, no extra fee will be charged onto your card when you spend money overseas. Some cards will waive the foreign transaction fee when you meet a minimum spending amount within a limited period. It is best if the travel credit card does not impose any expiry date to redeem the rewards points.
You can look for a travel credit card with a long 0% APR introductory period. The longer the introductory period, the longer you can save money on interest fee when you charge the card for your expenses. The introductory period typically last for 6 – 21 months. You will need to have good credit score to qualify for a travel rewards card with a long introductory period.
The travel rewards card may charge you an annual fee but this fee is often waived during the first year. You should find out how much is the annual fee and whether it is waived in the first year by talking to your credit card company.