Hot Deals for Travel Reward Credit Cards
It's summer time, so travelling is what you should be doing. If your pockets are feeling the pinch from the recession, that's no excuse to sit at home. The Wall Street Journal has tracked down some of the best travel deals going on currently. Don't miss out!
Bonuses are back for travel-reward cards.
So many credit-card companies are offering deals and perks right now that frequent travelers may want to re-evaluate whether they should switch their card allegiance.
Among the deals that have become more common in the past year: waived fees on the first checked bag for you and those traveling with you, free passes to airline clubs, no foreign transaction fees, waived annual fees for the first year and generous bonus miles when you sign up and spend a little in the first few months.
"I've never seen so much competition specifically for that segment of rewards cards," says Odysseas Papadimitriou, CEO of CardHub.com, a credit-card comparison site.
As The Wall Street Journal reported on Tuesday, lenders are ramping up efforts to court wealthier customers. Travel-reward cardholders are especially big spenders, charging an average of $1,359 a month in the first quarter, compared with $805 for the average cardholder, according to research firm Synovate's Mail Monitor service, which tracks credit-card mailings. Research firm Mintel Comperemedia says that while credit-card promotions of all kinds are up this year, bonus miles and points are the most popular, included in 25% of all credit-card offers from January through April.