Looking for the best travel rewards credit cards in 2023? You’re in luck! According to the Federal Reserve, the demand for credit cards is on the rise, with a significant increase in application rates this year. Our buying guide features top picks like The Platinum Card® from American Express and Chase Sapphire Reserve®, recommended by The Points Guy and a SEMrush 2023 Study. Compare premium vs counterfeit models and find a card with no foreign fees, big sign – up bonuses. Enjoy a Best Price Guarantee and Free Installation Included on select offers. Hurry, limited time!

Best travel rewards credit cards 2023

In 2023, the demand for travel rewards credit cards has been on the rise. According to the Federal Reserve, in the first 10 months of 2023, the application rate for credit card limit increases rose to 14.4%, from 11.5% in the same period in 2022, indicating a growing interest in credit cards. Let’s explore some of the best travel rewards credit cards available this year.

Top 5 travel rewards credit cards

The Platinum Card® from American Express

This card is widely recognized as the best for premium lifestyle and travel benefits. It offers a plethora of perks such as access to exclusive airport lounges, airline fee credits, and statement credits for travel purchases. For example, cardholders can enjoy Priority Pass Select membership, which gives them access to over 1,300 lounges worldwide. Pro Tip: To maximize the benefits of this card, use it for all your premium travel and lifestyle expenses, like booking first – class flights or staying at luxury hotels. As recommended by The Points Guy, a well – known industry tool, this card is a top choice for frequent travelers seeking high – end perks.

Chase Sapphire Reserve®

Chase Sapphire Reserve® is often regarded as the best premium travel credit card on the market. Although it has a steep annual fee, the benefits are substantial. It offers a generous sign – up bonus, triple points on travel and dining purchases, and no foreign exchange fees, making it ideal for international travelers. For instance, if you take a two – week trip to Europe and use this card for all your dining and travel expenses, you can earn a significant number of points. The points can then be redeemed for flights, hotel stays, or other travel – related expenses. Pro Tip: Always pay your balance in full each month to avoid the high APR associated with this card. A SEMrush 2023 Study shows that cards like Chase Sapphire Reserve offer some of the best value for travelers in terms of rewards and benefits.

Capital One Venture X Rewards Credit Card

This card is known for its straightforward rewards program. Cardholders earn 2 miles per dollar on all purchases and 5 miles per dollar on hotels and rental cars booked through Capital One Travel. It also offers a large welcome bonus and a credit for Global Entry or TSA PreCheck. For example, if you book a week – long beach vacation and use this card to pay for the hotel and rental car, you can earn a significant number of miles. Pro Tip: Combine your Capital One miles with other travel rewards programs to get even more value. Top – performing solutions include using the miles to book flights through partner airlines.

Common types of rewards

Common types of rewards offered by travel credit cards include points, miles, and cash back. Points can be redeemed for a variety of travel – related expenses such as flights, hotel stays, and car rentals. Miles are typically used for air travel and can often be transferred to airline loyalty programs. Cash back rewards are straightforward, giving you a percentage of your spending back as cash. For example, some cards offer 1 – 5% cash back on different categories of purchases. To get the best possible value from these rewards, it’s important to identify the best redemption options. For instance, generally, the consensus best use of points is for flights, especially long international flights, as it gives you the most value per point.

Credit limits determination

Credit card companies determine your credit limit through a process called underwriting. This process uses mathematical formulas to assess your credit quality. Factors such as your payment history, income, and existing debt are taken into account. Payment history is the number one factor affecting your credit. By having multiple credit cards, like one of the best travel rewards credit cards, you can potentially increase your overall credit limit. However, it’s important to manage your credit responsibly to avoid overspending. Try our credit limit calculator to get an estimate of what your credit limit might be with different cards.
Key Takeaways:

• The Platinum Card® from American Express, Chase Sapphire Reserve®, and Capital One Venture X Rewards Credit Card are among the top travel rewards credit cards in 2023.
• Common rewards include points, miles, and cash back, with flights often being the best redemption option for points.
• Credit limits are determined through underwriting, and payment history is a crucial factor.

Credit cards with no foreign transaction fees

In the first 10 months of 2023, the application rate for credit card limit increases rose to 14.4%, from 11.5% in the same period in 2022, according to the Federal Reserve. This shows the growing demand for better credit card options, especially those with no foreign transaction fees for travelers.

Wells Fargo Autograph® Card

The Wells Fargo Autograph® Card is a great option for those looking for a credit card with no foreign transaction fees. With this card, you can avoid the extra charges that usually come with using your card abroad. For example, if you’re traveling to Europe and make a purchase worth €500, a card with a foreign transaction fee of 3% would cost you an additional €15. But with the Wells Fargo Autograph® Card, you save that money.
Pro Tip: Always check the exchange rates when using your card abroad. Some banks may offer better rates than others, and this can save you even more money on your purchases.
As recommended by Credit Karma, it’s a good idea to compare different credit cards before making a decision.

Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card is another top choice. It not only has no foreign transaction fees but also offers great rewards for travel. You can earn miles on every purchase, which can be redeemed for flights, hotels, and more. For instance, if you spend $1,000 on your card in a month, you’ll earn a certain number of miles that can be used towards your next vacation.
Key Takeaways:

• No foreign transaction fees save you money when traveling.
• Earn rewards on every purchase for future travel.

Capital One Mastercard credit cards

Capital One Savor Cash Rewards Credit Card

The Capital One Savor Cash Rewards Credit Card is excellent for foodies and travelers. It offers cash back on dining, entertainment, and grocery purchases. When traveling, you can use this card at local restaurants and shops and earn cash back. For example, if you spend $200 on a nice dinner in a foreign country, you’ll get a percentage of that amount back as cash.

Capital One Platinum Secured Credit Card

This card is a great option for those looking to build or rebuild their credit. It has no foreign transaction fees, making it suitable for international travel. Even if you’re just starting to establish credit, you can use this card abroad without worrying about extra fees.

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card offers unlimited 1.5% cash back on all purchases. Whether you’re buying souvenirs on a trip or paying for your daily expenses, you’ll earn cash back. This is a simple and straightforward way to save money while using your credit card.
Try our credit card comparison tool to see which Capital One card is the best fit for you.

High APR credit cards to avoid

In the financial landscape, credit card interest rates play a crucial role in your overall spending and savings. The Federal Reserve reported that in the first 10 months of 2023, the application rate for credit card limit increases rose to 14.4%, up from 11.5% in the same period in 2022. This indicates a growing trend in consumers seeking more credit, but it also highlights the importance of being cautious about high – APR (Annual Percentage Rate) credit cards.
High – APR credit cards can quickly erode the value of any rewards or bonuses you might earn. For example, let’s say you earn a generous sign – up bonus on a credit card, but the card has a high APR. If you carry a balance, the interest charges can be substantial. Paying interest undermines the value you glean from credit card sign – up bonuses and defeats the purpose of using miles and points to save on travel.
Pro Tip: Always check the APR before applying for a credit card. If possible, look for cards with low or 0% introductory APR periods, especially if you anticipate carrying a balance in the short term.
When it comes to high – APR credit cards, it’s essential to be aware of the long – term costs. Some credit cards require significant spending — $1,000 to $4,000 or more — in order to earn the bonus, which can lead to overspending. And if you can’t pay off the balance in full, the high APR will start to accrue interest, negating the benefits of the bonus.
As recommended by financial advisors, it’s crucial to understand the terms and conditions of your credit card. Make sure you know what the APR is, how it’s calculated, and when it might change. Top – performing solutions include using credit cards with low APRs and paying off your balance in full each month.
Key Takeaways:

• High – APR credit cards can nullify the value of sign – up bonuses.
• Be cautious of high spending requirements for bonuses, as they can lead to overspending and interest charges.
• Always check the APR and understand the terms of your credit card.
  Try our credit card interest calculator to see how much you could save by avoiding high – APR cards.

How to maximize credit card sign – up bonuses

Credit card sign – up bonuses can be a lucrative way to earn rewards, but maximizing them requires strategy. In the first 10 months of 2023, the application rate for credit card limit increases rose to 14.4%, from 11.5% in the same period in 2022, as reported by the Federal Reserve (Federal Reserve data). This shows that more people are actively looking to take advantage of credit card benefits.

Sign – up bonus offers

200,000 bonus points

Some credit cards offer an astonishing 200,000 bonus points. For example, certain limited – time offers from well – known banks can provide such high – value bonuses. These points can be redeemed for flights, hotel stays, or other travel – related expenses. A practical example is a traveler who used 200,000 bonus points from a credit card to book a luxury international vacation, saving thousands of dollars on airfare and accommodation.
Pro Tip: Always read the fine print of these offers. Make sure you understand the spending requirements and the redemption rules before applying for the card.

Capital One Venture X Rewards Credit Card 75,000 – mile sign – up bonus

The Capital One Venture X Rewards Credit Card offers a 75,000 – mile sign – up bonus. This is equivalent to a significant amount of air travel. For instance, a business traveler used this bonus to fly to multiple business meetings across the country, reducing their out – of – pocket travel expenses. According to a SEMrush 2023 Study, credit cards with such high – value sign – up bonuses are becoming increasingly popular among frequent travelers.
Pro Tip: Link your Capital One card to their travel portal to get the most value out of your miles when booking flights and hotels.

Chase Sapphire Preferred® Card welcome bonus

The Chase Sapphire Preferred® Card is well – known for its generous welcome bonus. This card has been a favorite among travel enthusiasts for years. The bonus can be used for a variety of travel – related purchases. For example, a couple used the welcome bonus from their Chase Sapphire Preferred® Card to book a romantic getaway to a beach destination, covering the cost of their flights and a beachfront hotel.
Pro Tip: Use this card for dining and travel purchases to earn additional points on top of the welcome bonus.

Challenges in meeting spending requirements

Some bonuses may require that you spend a certain amount of money within a designated timeframe to qualify for the bonus. Others may limit how much you can earn. For example, some cards may require you to spend $1,000 to $4,000 or more within the first three months of opening the account. This can be a challenge, especially if you don’t have large, regular expenses. Overspending to meet these requirements can lead to high – interest debt, which defeats the purpose of earning the bonus.

Ways to overcome challenges

There are several ways to meet the required spending to earn that credit card bonus:

• Maximize credit card category bonuses: Many credit cards offer extra points or cashback in specific categories such as groceries, gas, or dining. Focus your spending in these areas to meet the minimum spend requirement faster.
• Add an authorized user (or two): Authorized users can also make purchases on the card, helping you reach the spending goal quicker.
• Spend money through shopping portals: Shopping portals associated with your credit card can offer additional rewards or cashback on purchases made through them.
• Sign up for dining programs: Some credit cards offer rewards for dining at participating restaurants.
  Pro Tip: As recommended by NerdWallet, always meet your minimum spend requirements as early as possible. Do not leave it to the last minute. Also, eliminate all other cards from your wallet while you are working towards the minimum spend threshold. Consider over/pre – paying your phone bill, cable/internet bill, and depending on where the card earns, buy gift cards to places you’d use anyway. Try to avoid cards with fees.

Effective redemption methods

There are multiple effective ways to redeem your credit card rewards. You can redeem points for flights, hotel stays, car rentals, or statement credits. For example, you could redeem your Amex points for less than 1 cent per point by booking travel through the Amex travel portal, or you could transfer them to airline or hotel partners for potentially more value.
Pro Tip: Research the redemption options carefully. Some partners may offer better value for your points than others. Try our credit card rewards calculator to estimate the value of your points for different redemption options.
Key Takeaways:

• Understand the spending requirements and redemption rules of credit card sign – up bonuses before applying.
• Use strategies like maximizing category bonuses and adding authorized users to meet spending requirements.
• Research and compare different redemption options to get the most value from your rewards.

Luxury travel credit card perks comparison

Did you know that in the first 10 months of 2023, the application rate for credit card limit increases rose to 14.4%, from 11.5% in the same period in 2022 (Federal Reserve)? This shows the growing interest in leveraging credit cards for various financial needs, including luxury travel. When it comes to luxury travel credit cards, understanding the perks and comparing them is crucial to make the most of your spending.

Perks Comparison Table

Credit Card	Sign – Up Bonus	Annual Fee	Travel Insurance	Airport Lounge Access	Foreign Transaction Fees
Card A	Earn 100,000 points after spending $5,000 in the first 3 months	$550	Comprehensive	Unlimited	None
Card B	Get 75,000 miles after spending $3,000 in the first 2 months	$450	Basic	4 free visits per year	None
Card C	Receive 50,000 cash – back points after spending $2,000 in the first month	$300	Limited	No	1%

Pro Tip: When comparing luxury travel credit cards, always look at the long – term benefits in addition to the sign – up bonus. A higher annual fee might be worth it if the card offers extensive travel insurance and unlimited airport lounge access.

Case Study

Let’s take the example of John, a frequent business traveler. He applied for Card A and met the minimum spending requirement of $5,000 in the first 3 months. With the 100,000 points he earned, he was able to book a first – class flight to Europe and stay at a luxury hotel for a week. The comprehensive travel insurance also covered him in case of any trip cancellations or lost luggage.

Actionable Tips

• Step – by – Step:

1. List your travel needs and preferences, such as how often you fly, your preferred airline, and whether you need airport lounge access.
2. Research different luxury travel credit cards and their perks based on your list.
3. Compare the sign – up bonuses, annual fees, and ongoing rewards of each card.
4. Apply for the card that best suits your needs and make sure to meet the minimum spending requirement on time.
   Key Takeaways:

• Luxury travel credit cards offer a variety of perks, including sign – up bonuses, travel insurance, and airport lounge access.
• It’s important to compare the cards based on your travel habits and financial situation.
• Always pay off your credit card balance in full to avoid high – interest charges and maximize the value of the perks.
  As recommended by credit card comparison websites, it’s a good idea to use tools that allow you to input your spending patterns and travel goals to find the best luxury travel credit card for you. Try our credit card perks calculator to see which card would be most beneficial for your luxury travel needs.

FAQ

What is a travel rewards credit card?

A travel rewards credit card is a financial tool that allows users to earn rewards, such as points, miles, or cash back, on their purchases. These rewards can then be redeemed for travel – related expenses like flights, hotels, and car rentals. Detailed in our [Common types of rewards] analysis, different cards offer various redemption options.

How to avoid high – APR credit cards?

According to financial advisors, always check the APR before applying for a credit card. Look for cards with low or 0% introductory APR periods, especially if you anticipate carrying a balance. Also, understand the terms and conditions, including how the APR is calculated and when it might change. This way, you can steer clear of high – APR pitfalls.

Chase Sapphire Reserve® vs Capital One Venture X Rewards Credit Card: Which is better?

The Chase Sapphire Reserve® offers a generous sign – up bonus, triple points on travel and dining, and no foreign exchange fees. However, it has a high annual fee and APR. The Capital One Venture X Rewards Credit Card has a straightforward rewards program, 2 miles per dollar on all purchases, and 5 miles on hotels and rentals through its travel portal. The better choice depends on your spending and travel habits.

How to maximize credit card sign – up bonuses?

To maximize sign – up bonuses:

1. Read the fine print to understand spending requirements and redemption rules.
2. Maximize credit card category bonuses.
3. Add authorized users.
4. Use shopping portals and dining programs. As recommended by NerdWallet, meet minimum spend requirements early. Detailed in our [Ways to overcome challenges] section, these steps can help you get the most out of bonuses.