Regardless of whether you travel weekly for business or a few times a year for a family vacation, there are a number of credit cards that offer cash-back for traveling. This might include anything from buying an airline ticket to renting a hotel, to reserving a rental car. If you plan responsibly and use the right cash-back card, you could be well on your way to saving for your next vacation!
Why Are Cash-Back Cards Good?
You have most likely been solicited to join a rewards program through specific airlines, hotels, or travel agencies. Depending on the frequency with which you travel, you might prefer to continue using these cards to maximize your points and earn free flights, vacations, or hotel stays. However, cash-back travel cards do present another option for you.
This type of card may be a better choice for you if you want to use the rewards to travel without blackout periods or on your own timeline, without worrying about using points before they expire. Worse yet, no need to spend your hard earned points on stuff you do not want or need. Rather, you will receive cash-back to use as you please!
How to use a Cash-Back Card
Many consumers have become frustrated with the point reward system for a variety of reasons. Perhaps they are forced to spend points of magazines they do not like. Or maybe their points expired before they could use them. Or maybe they just felt they were not being rewarded enough for the amount they spent. These could be one of many reasons why cash-backs cards have increased in popularity. Many consumers like knowing that they will be rewarded with cash, which they can use however they please.
There are a number of different credit cards that offer consumers cash back for their purchases. If you want to compare different credit card options, head to this website: https://www.comparemyrates.ca. When you click on the "credit cards" tab, you will be prompted to make choices from a drop-down list. On the first list, for "type of credit card", select "cash back." On the second drop down menu, you will need to select the option that best describes the type of credit that you have. Some of the cards for consumers with excellent credit offer up to 5% cash back.
Some of the cards come with added benefits, like travel insurance. It is important to note that some of these cards have annual fees. These fees tend to range from somewhere around $65 - $99 per year. Thus, you will want to make sure that you will be able to earn enough rewards to offset the annual fee. Additionally, make sure that you are aware of the interest rate, which can be easily compared with the website
Simply Cash Car from American Express
If you are looking for a travel rewards card with no annual fee, consider the Simply Cash Car from American Express. In addition to no annual fee, you can transfer balances for a low rate of 1.99% for a limited period of time (currently six months). Additionally, you will be rewarded with 5% cashback. You will need to have an excellent credit score in order to obtain this card. Find out more about what it offers using this link: https://www.comparemyrates.ca/credit-card-american-express/creditcard/simply-cash-card-american-express/
American Express AIR MILES Platinum Credit Card
Another great option is the American Express AIR MILES Platinum Credit Card. This card does have a $65 annual fee and like the last card reviewed, you can transfer balances for a low-interest rate of 1.99% for six months. For this card, you earn one reward mile for every $10 spent are certain locations, such as gas stations, drugstores, grocery stores, and AIR MILES partners. Other purchases will score you 1 point for every $15 spent. You can read more about the perks of this credit card here: https://www.comparemyrates.ca/credit-card-american-express/creditcard/american-express-air-miles-platinum-credit-card/
Having a good cash-back credit card for any travel plans can help you save a significant amount of money. In addition, many of these cards can also be used for daily expenses, which will help you save more quickly for your next vacation, big ticket item, or whatever you want to reward yourself with!