Travel rewards cards are a great option if you’re a frequent traveler and accumulate points quickly. That depends on whether you frequently use one airline for travel and stay at one hotel chain.
Travel Cards – Low Interest or Rewards Program?
â You can get travel cards that offer no perks. These are mainly low APR or no annual fee cards. They help keep interest rate and costs down, but there is no way to convert your card usage into rewards.
â If you have a good credit score and can manage your credit card balance, choose travel rewards credit cards
â If a card comes with no annual fee for the first year, check what the fee would be the next year. If the fee cancels the benefits provided by the rewards program, choose another card.
â If a card offers low or 0% APR for an initial period, check the regular APR to see if it would suit your habits
Travel Rewards Cards – Types
Travel rewards cards can be co-branded cards. That is, they’re tied to a particular airline or hotel chain. These can help you get rewards and other benefits from loyalty programs. However, if you don’t stick to a single airline or a particular hotel chain, don’t get these cards.
Bank travel rewards cards are far more flexible. You can earn more points on your regular use, and you can use the rewards earned at multiple airlines or hotel chains.
Travel Rewards Cards – Benefits
Look for a signup bonus on travel cards. However, you need to spend a high amount within the first 3 or 6 months of getting the card. You may have to spend anywhere from $500 to $4000 or more to get the points.
Once you get the bonus points, it kickstarts your rewards system. Then you earn 1.5x points or more on travel related purchases. You’ll also get at least 1 point per dollar spent on other purchases.
Look for cards that give you high rewards, like 3 to 5 points per dollar spent on special categories like groceries, office supplies, dining and more.
Most cards don’t have an expiry date on the rewards accumulated as long as you keep the cards active.
With bank cards, you can redeem your reward points at any airline or hotel. You may get even more benefits when you make your travel purchases though the card issuer’s platform.
Some cards offer other benefits like free baggage check-in. This can help you save a lot of money.
A travel card with a good reward program can help you save hundreds or thousands of dollars in travel expenses every year. Use your travel cards optimally and accumulate rewards. You can even treat your family to a great vacation that you couldn’t otherwise afford.
There are companies that work on collecting and maintaining credit information of consumers. These are known as credit reporting agencies (CRAs). There are three such major CRAs in the country, namely Equifax, Experian, and TransUnion. Apart from these, there are other smaller-scale agencies too that specialize at the job. If you’re worried about “where to get my credit score?,” the larger CRAs are the most reliable bets.
These major CRAs obtain information from companies that you hold business and transactions with. People or companies that lend you money regularly report to these CRAs on your repaying status. There is also detailed information on the amount you are indebted and whether you have ever defaulted on your payments. Aside from the reports obtained from lenders, these companies also tally your general records based on certain other aspects. Some of these aspects are your public records from the local and state judiciary. These include your tax records and bankruptcy information. This information makes up an important chunk of your credit score and its report.
Equifax
Present in 24 countries, Equifax is an agency that offers consumers protection against identity theft and credit fraudulence. They also sell credit reports and credit monitoring assistance to businesses.
Experian
Experian started off in London and is now a trusted agency in 39 different countries. It provides you with a credit score, credit report, and even credit tracker on subscription. The agency uses FICO 8 system of credit score calculation. Experian was a part of Forbes’ “World’s Most Innovative Companies” in 2018.
TransUnion
Based across 30 countries with a database of over 1 billion consumers, TransUnion is another CRA giant. The agency, like the other ones, will provide you with your credit score and your credit reports. In case you decide to freeze your TransUnion credit report, it will also go the extra mile to notify Equifax and Experian, which frankly is a big help especially in case of identity theft and credit fraud.
So, the next time you are sat wondering “where to get my credit score?,” think of these three giants that provide you with an annual credit score and credit report for free once each year. However, if you are looking for more frequent updates, you can subscribe to their services and receive your monthly updates.
Did you know that you have more than a single credit score? Agencies calculate your credit score based on the data in your credit reports. If you are wondering, “where to get my credit score?,” there are three main credit reporting agencies. These can have different credit scores for you if your information on each of their credit reports is different. Also, these agencies charge a fee to reveal your credit score.
Recently, it has become easier to track and get hold of your credit score without paying any fees. You can get it from your credit card company, your loan provider, and even from a non-profit counselor. Here are a few tips you can use to check your score.