Before I consider applying for any travel credit card, I usually look for answers to my 6 main questions about the card:
- Does it charge foreign transaction fees?
- Does it have trip cancellation/interruption insurance coverage?
- Does it have an auto rental collision damage waiver?
- Does it have baggage delay insurance coverage?
- Does it have lost luggage insurance coverage?
- Does it have trip delay insurance coverage?
Of course, there are other benefits I usually look for in addition to the ones listed above, but those are the main ones. If a card does not offer any of these, I never consider getting it for travel, unless I plan to use it for non-travel purchases.
Is there a credit card that offers these 6 benefits without charging an annual fee?
Unfortunately, there is none.
If a card offers all six of these benefits, it most likely has an annual fee.
This is true, but if I have to pay an annual fee to get these 6 benefits, I will try to find out if the card offers additional benefits that will help cover the annual fee. What do I mean by that? Well, if the value of the card’s benefits exceeds the cost of the annual fee, and if I will actually use those benefits, then it is worth paying the annual fee to have a reliable travel card.