Before I consider applying for any travel credit card, I usually look for answers to my six main questions about the card:
- Does it charge foreign transaction fees?
- Does it provide trip cancellation/interruption insurance coverage?
- Does it offer an auto rental collision damage waiver?
- Does it include baggage delay insurance coverage?
- Does it cover lost luggage insurance?
- 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.
Cards with Annual Fees
Below are the top three cards that satisfy my basic travel credit card requirements. Keep in mind they have an annual fee. Some full-time travelers, including me, have all of them, but you can read more about each card to decide which one fits your needs.
1. American Express Platinum (This is an affiliated link)
I use it for booking flights and renting cars. I usually transfer Membership Rewards points to partner airlines to book flights. Occasionally, American Express offers discounts for transferring points to select partner airlines, so I keep an eye out for those deals before transferring points.
2. Chase Sapphire Reserve or Chase Sapphire Preferred (This is not an affiliated link)
I use it for booking accommodations, dining out, and transportation other than flights. I usually transfer Chase Ultimate Rewards points to Hyatt for hotel bookings. Hyatt offers the best hotel points redemption value, and Chase is the only credit card provider that allows transfers to Hyatt.
3. Citi Strata Premier Card (This is not an affiliated link)
I use it for purchases at supermarkets and gas stations. I typically transfer Citi ThankYou points to the Choice Privileges hotel program, taking advantage of the 1:2 conversion ratio.