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We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: SolStock/Getty Images March 28, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Ariana Arghandewal is a personal finance expert specializing in credit cards and travel rewards. She is passionate about helping people leverage credit card rewards to realize their travel goals. Cathleen's stories on design, travel and business have appeared in dozens of publications including the Washington Post, Town & Country, Wall Street Journal, Marie Claire, Fodor’s Travel, Departures and The Writer. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you're well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate logo Editorial integrity
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Between high inflation and global supply chain shortage, things are getting more expensive by the day. It’s not just gas prices either. Everything from groceries to clothing costs more now than last year. While you can’t control inflation or rising costs, you can maximize your return in these spending categories. The right credit card line-up can help you earn lots of rewards in high spending categories like , and . Some credit cards even earn more than the standard one point per dollar spent. Add one of these cards to your wallet and you can make lemonade from the lemon of a stressed economy. If you don’t want to keep track of , consider a card that offers a flat high return on all spending. For example, the has no annual fee and offers 2X on all spending, up to $50,000 per year. Insurance
In an increasingly unpredictable world, travel insurance is more important than ever. While there are coverage limits, many that can save you money and stress in a difficult situation. Primary rental coverage
Last year I was involved in a minor fender bender while driving a rental car. It was dark out and I grazed a metal partition while making a left-hand turn. Five months later, I received a bill for $3600 from the rental car company. Ouch. Luckily, it only cost me around $400 and I didn’t have to get my insurance company involved. That’s because I had rental collision coverage from my . Granted, I paid $14.99 for primary coverage through Amex’s Premium Car Rental Protection program. Still, that coverage saved me over $3,200 and a rising insurance premium. can be an invaluable benefit if you’re involved in an accident. Many credit cards do offer it free of charge, including: Trip interruption
Trip interruption insurance can give you peace of mind if you’ve booked an expensive trip and can’t complete it. Many credit cards offer trip interruption coverage, which will reimburse you for any unused portions of your journey. For example, let’s say you fly down to Miami for a Caribbean cruise but wind up sick before you board the ship. Trip interruption insurance will cover any unused, prepaid and non-refundable travel expenses, like the cost of your cruise and the flight home. Many include trip interruption coverage when you charge your travel expenses to your credit card. This great benefit can save you thousands of dollars in an emergency, not to mention the cost of buying an insurance policy. Be sure to familiarize yourself with the coverage limits on your credit card’s policy to determine whether it makes sense to buy additional coverage. In most cases, what the credit card offers is perfectly sufficient. Lost or delayed baggage insurance
Thousands of every year. While the odds of losing your luggage are low, it can put a damper on your trip if it does happen. Luckily, many credit cards offer baggage delay and lost luggage reimbursement. Simply charge your flight to one of these cards and if your luggage is lost or delayed, you can file a claim for reimbursement: Chase Sapphire Preferred, Chase Sapphire Reserve and Ink Business Preferred: up to $3,000 per person, per trip for lost, damaged or stolen luggage, plus baggage delay coverage of up to $100 per day for up to five days * and *: up to $3,000 per person, per trip for lost, damaged or stolen luggage, plus baggage delay coverage of up to $100 per day for up to three days and : up to $3,000 per person, per trip for carry-on bags and $2,000 for checked bags in case of loss or damage : up to $3,000 per person in coverage for lost or damaged luggage American Express Gold and : up to $1,250 per person, per trip for carry-on bags and $500 for checked bags in case of loss or damage : baggage delay coverage of up to $100 per day for up to five days, plus up to $3,000 per trip for lost luggage Recurring benefits
This is the year to take inventory of your credit cards and make sure they’re serving you well. If you’re paying an annual fee, look for a card with recurring benefits. Whether it’s annual free nights, waived luggage fees or elite status benefits, these perks can offset your annual fee and make your travels more pleasant. Annual free nights
Annual free nights are one of the best benefits you can get from a travel card. You can save hundreds of dollars on the free nights issued by cards like: * * * Last year, I used my Hyatt free night at the Park Hyatt Istanbul, where rooms were going for over $250 per night. Needless to say, I was happy to pay the card’s $95 annual fee in exchange for this helpful perk. Lounge access
Airports are getting busies and food is getting more expensive. Lounge access can be a great way to keep your costs down and it doesn’t have to be massively expensive. Sure, tend to carry high annual fees, but this can be worthwhile if you use this benefit enough. Elite status
Despite putting minimal spending on my Hilton Honors Amex Aspire card, I keep renewing it every year. That’s because the card’s Hilton Diamond benefits easily offset the $450 annual fee. Recurring card benefits like elite status can save you a lot on travel and are worth considering when shopping for a new credit card. Waived fees
Despite what your favorite travel bloggers like to say, travel is never free—even if you’re using points and miles. There are , luggage fees, award taxes to contend with. When , you’ll sometimes incur . If you’re shopping for a new credit card, look for one that . Many travel , though there are still outliers like the that do not. With the right card, you can save 3% in fees every time you swipe your credit card abroad. Waived baggage fees are another recurring benefit that can offset a card’s annual fee. Most airlines charge around $25 per checked bag, with higher fees for second and third bags. Meanwhile, like the * waive the first checked bag fee for both the primary cardholder and up to four companions traveling on the same itinerary. That presents savings of up to $150 per flight, more than the card’s $99 annual fee. Trusted traveler programs
Trusted traveler programs like can make transiting airport security and customs speedy and convenient. Membership in these programs is affordable to begin with. But with the right credit card, you can get your application fees waived. used to be limited to with high annual fees. That’s no longer the case. Nowadays, lower-fee cards like the Capital One Venture Rewards and Bank of America Premium Rewards offer these credits every four years. *All information about the Hilton Honors American Express Aspire Credit Card, IHG Rewards Club Premier Credit Card, The World of Hyatt Credit Card, Citi / AAdvantage Platinum Select World Elite Mastercard, United℠ Explorer Card and United Club℠ Infinite Card here has been collected independently by Bankrate and has not been reviewed or approved by the issuer. SHARE: Ariana Arghandewal is a personal finance expert specializing in credit cards and travel rewards. She is passionate about helping people leverage credit card rewards to realize their travel goals. Cathleen's stories on design, travel and business have appeared in dozens of publications including the Washington Post, Town & Country, Wall Street Journal, Marie Claire, Fodor’s Travel, Departures and The Writer.