Some links on this site have offers from us The partners.
Travel has been discontinued in view of coronovirus, and reward credit cards are suitable to change consumer preferences. You may have noticed that travel credit cards have refined their rewards, such as stocking up at the grocery store or adding to the earning opportunities needed to fill up at the gas station.
Depending on the card, you can redeem the travel rewards for streaming services, as well as takeout and home improvement purchases.
Credit card companies have also increased sign-up bonuses on travel cards, and many general rewards cards allow people to earn travel rewards and use them later.
Let’s take a look at some of the changes to travel credit cards and how you can take advantage of them.
What are travel credit cards?
Travel credit cards are rewards cards that earn points or miles you can redeem for travel purchases and a variety of other items. They usually come with travel benefits which may include travel insurance, Lost airport lounge access and luggage reimbursement, among others.
Generally, you will get two types of travel credit cards:
Co-brand card. a Co-brand credit card A card is a partnership between the issuer or network and a travel-related business, such as an airline, a hotel chain, or a cruise line. A card can carry the credit card company’s logo and, say, airline.
Your card earns spending points and miles, often towards more travel expenses with the brand.
General Travel Card. This type of card allows you to earn and redeem rewards in several ways: You will not be limited to travel purchases. Some cards have portals for booking travel that allow you to extract the most value from your rewards.
How are travel cards changing?
As people have made fancy trips during the epidemic, travel credit cards have temporarily adjusted their rewards schedules. Card spending earns rewards not only for travel but also for grocery, gas, streaming service, takeout, delivery and other everyday purchases.
David Tuzolino, founder and CEO of Pittsburgh’s Pathbridge Financial, a financial planning and wealth management firm, says, “They are trying to be creative and think about people who are not traveling.
Andrew Davidson, senior vice president and chief insight officer at consumer and marketing intelligence company Mintel Coppermedia, said flexibility is a major concern for consumers.
They say that the lines between travel and cash back cards are blurring, and result in increased competition that benefits consumers. Travel cards now more closely resemble cash back cards, which traditionally focus on flat-rate cash back or bonus rewards for everyday expenses.
Which travel cards can help you earn rewards when you are not traveling?
You may have a travel credit card and will not be aware of changes to your card’s rewards program. If you have one of these popular cards, here’s how you can redeem rewards more easily during an epidemic:
- Chase Sapphire Preferred Card. You can earn up to two points per month for up to $ 1,000 in grocery store purchases through April 2021, including pickup and eligible delivery services.
- Chase Sapphire Reserve. Cardholders can earn up to three points up to $ 1,000 in monthly purchases at grocery stores and through April 2021 on eligible grocery delivery services. You can use the card’s $ 300 annual travel credit until June 30, 2021 for gas and grocery shopping.
- Platinum card from American Express. New cardholders earn 10 points per dollar for spending up to $ 15,000 at US gas stations and US supermarkets in joint purchases in the first six months. All cardholders can receive up to $ 40 Statement credit Per month until December 2020 for US streaming subscriptions and US wireless phone services.
- Delta Skymills Gold American Express Card. The card offers 2 miles per dollar, including delivery and takeout spent at American supermarkets, plus restaurants.
- United Gateway Card. This newly launched co-branded Chase Card offers rewards for everyday shopping, such as grocery shopping at a rate of 3 miles per dollar monthly until September 2021. , And on the purchase of United Airlines.
Which travel cards provide valuable options for travel rewards?
It is no secret that travel rewards usually provide the best value when redeemed for travel value. It is usually best to hold onto your points or miles until your next trip, whenever that happens.
But if you have a lot of miles or points and don’t want to wait to use them, your travel credit card may offer other options.
You may be able to cash in your points or miles for a gift card or cash back, which can be a good idea when you need money.
Previously, these options did not offer the same value as travel, but this has started to change. Here’s a look at how some travel credit cards are changing, how you can redeem rewards:
- Capital One Venture Rewards Credit Card. You can redeem your Venture Rewards miles through April 2021 for a statement credit on eligible restaurant delivery, takeout and streaming service purchases.
- Capital One VentureOne Rewards Credit Card. Like the Capital One Venture Rewards credit card, this card allows you to redeem VentureOn miles for statement credits on eligible streaming service and restaurant delivery and takeout options.
- It shows Miles. You can convert your miles into cash or redeem them for statement credits for the purchase of gas and restaurants, in addition to travel expenses, including flights, hotels and ride-hailing services.
- Chase Sapphire Preferred Card. You will receive 25% more value for your points when you redeem for grocery, restaurant and home improvement store purchases, and statement credits toward grocery, restaurants, including contributions to select donations with cash back .
- Chase Sapphire Reserve. Points redeemed for select statement credits and charitable donations are 50% higher than cash back.
Should You Dig Your Travel Rewards Card?
The answer depends on whether the awards justify the annual fee. Many travel credit cards charge an annual fee, and even though the perks have increased to increase your value, you may feel that you are not receiving your money this year.
if you wish Close cardVerify that you will not reduce your miles. This is less likely with co-branded travel cards, which can transfer miles or points to airline or hotel loyalty rewards programs.
If you prefer to keep a card, then every chance you give is given to collect points. “Use all these benefits, and make sure you get the value out of the card,” Davidson says. “All they are doing is they can justify those annual fees.”
Should you get a travel card now?
A travel card is still a good bet, even if you do not have a trip on the horizon. The journey will return, and these cards can provide tremendous value in rewards and benefits.
“Some consumers may say, ‘I will never travel again.’ But most people are longing for travel, want to see family and friends, (and) to explore the world, ”Davidson says. “The journey is not going away.”
This is an optimal time to get travel cards because the sign-up bonus is “exceptionally rich,” says Alex Miller, founder and CEO of Upgraded Points, a travel rewards site.
If you want to apply for a card and are not sure what Miller says, ask yourself:
- How generous Sign-up bonusThe
- What can you benefit from when the journey resumes?
- How many points can you earn, and can you earn more points to spend in certain categories?
Travel rewards cards are definitely good for more than flying. In fact, some co-brands also cater to hotel cards. Road trip, Davidson says. The Wyndham and Hilton branded cards, for example, earn bonus points for gas purchases.
“Consumers still hesitate to travel but are more comfortable going to hotels,” says Davidson.
If you have to fly, the high-end travel card allowances may be worth more. Airport lounges can provide you with a somewhat safe haven during travel.
American Express’ Centurion Lounge, which is reopening across the country, adopts contactless check-in and enhanced cleaning measures.
If you have weighed the pros and cons of travel cards and are still unsure, you may want to wait and see how these cards develop. When a travel revival draws near, the travel credit card market will become even more competitive.
“You will start promoting more credit card launches, new deals (and) new value propositions,” says Davidson.