With the busy travel season in full swing, many of us are looking for ways to reduce costs and make the most of our travel expenses. Nearly half of all consumers (47%) are planning to travel soon, according to a report by Deloitte. The good news is, you can use your credit card perks and rewards to save money and make your travel experience more convenient and enjoyable.
1. Redeem your points and cash back for travel
Many credit card companies such as American Express, Capital One, Chase, and Bank of America offer travel cards that let you redeem points or cash back for airline tickets, hotel stays, and other travel-related expenses. For instance, if you have the Capital One Venture Rewards Credit Card, you could earn 75,000 miles after spending $4,000 on purchases within the first three months of account opening. However, it’s important to pay off your balances promptly to avoid high interest rates.
2. Get reimbursed for TSA PreCheck and Global Entry fees
Many travel cards also offer credit for TSA PreCheck or Global Entry membership fees. This can save you time and money when you’re rushing to catch your flight. The Platinum Card from American Express, for example, offers cardholders credit for these fees, which can add up to $100 for Global Entry or $85 for TSA PreCheck every few years.
3. Enjoy complimentary access to airport lounges
The Platinum Card from American Express and other premium credit cards also offer cardholders access to exclusive airport lounges, which can be a welcome respite from the hustle and bustle of busy airports. These lounges offer free drinks, snacks, Wi-Fi, and even showers and nap pods, which can save you a significant amount of money, especially if you have long layovers.
Another card worth considering is the Delta SkyMiles Gold American Express Card, which offers a whopping 70,000 bonus miles after you spend $3,000 in purchases within the first six months of card membership.
4. Save on baggage fees
Checking bags can be expensive, but some airline credit cards offer free checked bags for the cardholder and others traveling on the same reservation. For instance, most of Delta’s credit cards offer this perk, which can save you $30 each way for your first checked bag and $40 for your second bag on domestic flights.
5. Cut down on insurance costs
Finally, some credit cards offer rental car insurance and trip coverage, which can save you a significant amount of money. According to the U.S. Travel Insurance Association, travel insurance costs can range from 4% to 8% of your total trip cost. So, using a credit card that offers these insurance benefits can be a big money saver.
Traveling can be expensive, but by being smart about your credit card usage, you can save money and make your trip more enjoyable. So, before you pack your bags and hit the road, take a closer look at your credit card benefits and make the most of them.
