11 Best Travel Credit Cards of September 2023

Standout benefits: There are no foreign transaction fees, making it an ideal card for college students studying abroad. This card also comes with a longer-than-average special financing offer of no interest for 18 billing cycles (then 18.24% to 28.24% variable APR). A full year of no interest is a great way for you to pay off new purchases over time, without incurring interest charges, though we recommend you pay off your balance on time and in full each month.

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Rewards

• 4X points per dollar spent at restaurants (plus takeout and delivery in the U.S.)
• 4X points per dollar spent at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X)
• 3X points per dollar spent on flights booked directly with airlines or on amextravel.com
• 1X point per dollar spent on all other purchases

Welcome bonus

Earn 60,000 Membership Rewards points after spending $4,000 on eligible purchases within the first six months of card membership.

Annual fee

$250 (see rates and fees)

Notable perks

In addition to the up to $240 in annual credits for dining and Uber Cash, the American Express Gold Card has a variety of other useful benefits. For example, cardmembers get a $100 experience credit and potential room upgrade when booking stays of at least two nights through The Hotel Collection. Experience credit varies by property.

Eligible purchases also qualify for the following insurance coverages*:

• Baggage insurance (Underwritten by AMEX Assurance Company.)
• Extended warranty (Underwritten by AMEX Assurance Company.)
• Purchase protection (Underwritten by AMEX Assurance Company.)
• Trip delay insurance (Underwritten by New Hampshire Insurance Company, an AIG Company.)
• Car rental loss and damage insurance (secondary) (Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.)

You can use the American Express Membership Rewards points you earn with this card in a variety of ways, from redeeming for gift cards and statement credits to booking travel through the Amex Travel Portal. To get a potentially bigger bang for your buck, transfer your Membership Rewards points to a variety of airline or hotel partners, including Delta SkyMiles, JetBlue TrueBlue, Hilton Honors, Marriott Bonvoy, Choice Privileges and more.

* Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details.

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Rewards

• 5X miles per dollar on hotel and rental cars booked through Capital One Travel
• 2X miles per dollar on every other purchase

Welcome bonus

Earn 75,000 bonus miles after spending $4,000 on purchases within the first three months from account opening.

Annual fee

$95

Notable perks

Capital One Venture Rewards cardholders receive a credit of up to $100 to cover Global Entry or TSA PreCheck® membership, two complimentary visits per year to Capital One Lounges or Plaza Premium Lounges and Hertz Five Star status, which unlocks car rental upgrades when available. Other perks include access to extended warranty protection*, purchase security, travel accident insurance*, roadside assistance* and car rental collision insurance*.

Travelers going overseas can take advantage of no foreign transaction fees. As an added plus, you can use your Venture Rewards card to get access to exclusive sporting and music events, plus premiere culinary experiences through Capital One Dining and Capital One Entertainment.

You can use Capital One miles to book flights, hotels, rental cars and more through Capital One Travel, or you can use them to offset recent travel purchases at a fixed value of one cent per point. Alternatively, you can transfer them to any of Capital One’s hotel and airline partners including Accor Live Limitless, Air Canada Aeroplan, Etihad Guest and others to get even more value from your miles.

*Terms, conditions and exclusions apply. Refer to your Guide to Benefits for more details.

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Rewards

• 10X miles per dollar on hotels and rental cars booked via Capital One Travel portal
• 5X miles per dollar on flights booked via Capital One Travel portal
• 2X miles on all other eligible purchases

Welcome bonus

Earn 75,000 bonus miles after spending $4,000 on purchases within the first three months from account opening.

Annual fee

$395

Notable perks

On top of the annual $300 Capital One Travel credit and 10,000 anniversary bonus miles, the Capital One Venture X card is loaded with other benefits. Cardmembers receive up to $100 statement credit for either Global Entry or TSA PreCheck®, complimentary cell phone insurance, special perks on hotel stays booked through the Premier Collection** and Lifestyle Collection and unlimited access to Capital One Lounges as well as the extensive network of Priority Pass and Plaza Premium airport lounges worldwide. 

You can add up to four authorized users for free and each additional cardholder also gets airport lounge access. If you value rental car perks, cardholders receive complimentary Hertz President’s Circle status (enrollment required)***, which grants benefits such as guaranteed upgrades.

The Capital One Venture X Rewards Credit Card has the same redemption options as the Venture Rewards Card. You can use miles to offset eligible travel purchases or transfer them to various airline and hotel partners.

*Terms, conditions and exclusions apply. Refer to your Guide to Benefits for more details.

** Be sure to check out the full terms and conditions for Premier Collection (https://capitalonetravel.com/premier-collection/) and Capital One Travel (https://travel.capitalone.com/terms-of-service/)

***Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.

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Rewards

• 5X points per dollar on travel purchased through Chase Ultimate Rewards®
• 5X points per dollar on Lyft rides through Mar. 31, 2025
• 3X points per dollar on dining
• 3X points per dollar on online grocery purchases (excluding Target, Walmart and wholesale clubs).
• 3X points per dollar on select streaming services.
• 2X points per dollar on all other travel purchases
• 1X points per dollar on all other purchases
• 10% anniversary points boost
• $50 annual Ultimate Rewards hotel credit

Welcome bonus

Earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.

Annual fee

$95

Notable perks

The Chase Sapphire Preferred offers travelers many important protections, including primary rental car insurance, trip cancellation and interruption insurance and baggage and trip delay insurance. Travelers can also rack up rewards faster thanks to a 10% points boost on each card anniversary. That means if you spend $50,000 on purchases, you’ll get a 5,000-point bonus (worth $75 in travel booked through Chase).

Cardholders can take advantage of various statement credits for specific purchases. For starters, the card offers up to $50 annual Ultimate Rewards Hotel Credit. Next, you can get up to $10 in statement credits on GoPuff Orders (through Dec. 31, 2023). Through July 31, 2024, you can register your Sapphire Preferred to receive six months of free Instacart+ membership and up to $15 back each quarter for Instacart purchases. You’ll also receive a complimentary DashPass membership for a minimum of one year through Dec. 31, 2024.

One of the best benefits of the Sapphire Preferred is that it unlocks access to Chase’s 14 airline and hotel transfer partners. You can transfer points to United Airlines MileagePlus, Southwest Airlines Rapid Rewards, Air Canada Aeroplan, World of Hyatt, IHG One Rewards, Marriott Bonvoy and more. Otherwise, your points are worth 1.25 cents each through the Chase Ultimate Rewards® travel portal or one cent per point when redeemed for gift cards or cash back.

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Rewards

• 10X total points per dollar on hotels and car rentals purchased through Chase Ultimate Rewards®*
• 10X points per dollar on Lyft purchases through March 2025
• 5X total points per dollar on flights purchased through Chase Ultimate Rewards®*
• 3X points per dollar on other travel*
• 3X points per dollar on dining
• 1X points per dollar on all other purchases

*After the first $300 is spent on travel purchases annually

Welcome bonus

Earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.

Annual fee

$550

Notable perks

Chase Sapphire Reserve card members get up to $300 in annual travel credits, which covers more than half of the card’s annual fee. Additional benefits include an up to $100 Global Entry, TSA PreCheck or NEXUS fee credit (every four years), elite-like perks when booking hotels through The Luxury Hotel & Resort Collection, access to Sapphire airport lounges and a Priority Pass Select membership (valued at $469), which unlocks access to more than 1,400 airport lounges worldwide.

Cardholders also have access to a wide range of limited-time benefits and credits, including:

• Two years of complimentary Lyft Pink All Access membership (worth $199 a year) when activated by Dec. 31, 2024
• At least 12 months of complimentary DashPass membership when activated by Dec. 31, 2024
• $5 in DoorDash credit each month through Dec. 31, 2024
• One year of free Instacart+ membership (activate by July 31, 2024)
• Up to $15 in Instacart credits each month (through July 31, 2024)
• Up to $10 in GoPuff credits each month (through Dec. 31, 2023)

Some of the easiest benefits to overlook are this card’s top-notch travel and purchase protections, such as purchase protection, extended warranty protection, return protection, primary rental car collision coverage, trip delay protection, trip interruption/cancellation insurance, baggage delay protection, travel accident insurance, emergency medical and dental insurance and more. Cardmembers traveling internationally also don’t need to worry about foreign transaction fees.

The value of the points you earn depends on how you use them. If you redeem points for cash and gift cards, each point is worth one cent. However, the value of points increases to 1.5 cents apiece when you redeem for travel on Chase Ultimate Rewards®. For example, 60,000 points are worth $900 toward airfare, hotels, car rentals and cruise reservations when you redeem through Chase Ultimate Rewards®. This is a great way to maximize the value of your rewards and makes this card stand out from the pack. Of course, transferring your points to Chase’s airline and hotel partners is also an option.

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Rewards

• 5X points per dollar spent on flights booked directly with airlines or with American Express Travel (up to $500,000 on these purchases per calendar year)
• 5X points per dollar spent on prepaid hotels booked with American Express Travel
• 1X point per dollar spent on all other purchases

Welcome bonus

Earn 80,000 points after spending $8,000 on eligible purchases within the first six months of card membership.

Annual fee

$695 (see rates and fees)

Notable perks

Cardholders can enjoy a long list of benefits, including:

• Up to $200 annual hotel credit (Hotel Collection requires a minimum two-night stay)
• Up to $200 annual airline fee credit
• Up to $300 per calendar year Equinox credit (enrollment required)
• Up to $100 annual Saks Fifth Avenue credit (enrollment required)
• Up to $189 credit to enroll in CLEAR® Plus (subject to auto-renewal)
• Up to $240 annual digital entertainment credit (enrollment required)
• Up to $155 annual Walmart+ credit. (Plus Ups are not eligible. Subject to auto renewal)
• Worldwide airport lounge access, including Delta SkyClubs and Amex Centurion Lounges
• Up to $200 annual Uber credit. Benefit renews annually. (Uber Cash and Uber VIP status is available to Basic Card Member only.)
• $100 fee credit for Global Entry or up to $85 for TSAPreCheck
• Automatic hotel elite status with Hilton Honors and Marriott Bonvoy
• Comprehensive travel insurance
• Complimentary Amex concierge service
• Cell phone protection
• Terms apply.

Membership Rewards points can also be exceptionally valuable. The best way to use Amex points is to transfer them to one of Amex’s airline and hotel partners. They can also be redeemed for statement credits, gift cards and when checking out at retailers like Amazon, though you’ll usually get a lower value for your points.

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Rewards

• 1.5X miles per dollar on every purchase

Welcome bonus

Discover will match the miles you earn during the first year with no minimum spending requirement or limits on how much you can earn through the match.

Annual fee

$0

Notable perks

The appeal of the Discover it Miles card is its simplicity of not having to worry about paying an annual fee or paying foreign transaction fees. The card also has an introductory 0% APR offer for 15 months on purchases and balance transfers, then a 17.24% to 28.24% variable APR (3% intro balance transfer fee, 5% balance transfer fee on future transfers, see terms).

There are also no blackout dates when you pay for travel purchases using your card. And, you can easily redeem miles as a statement credit for travel, restaurant or gas station purchases, as well as a deposit to your bank account. The best part is, the miles you earn never expire even if your account is closed (Discover credits your account with your rewards balance if your account is closed).

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Rewards

When you make at least five transactions in a statement period, you’ll earn points at the following rates:

• Up to 1X points per dollar on rent payments without the transaction fee (up to 100,000 points each calendar year)
• 3X points per dollar on dining
• 2X points per dollar on travel
• 1X point per dollar on all other purchases

Welcome bonus

None

Annual fee

$0

Notable perks

Thanks to the BiltProtect feature, Bilt Mastercard cardholders are protected from using up their entire credit limit or risk going into debt by charging their rent to their card every month. Other benefits include a $5 monthly Lyft credit after taking three Lyft rides in a month (through March 31, 2024), as well as a free ShopRunner membership (through March 31, 2024).

For a no-annual-fee card, the Bilt Mastercard has a surprising amount of built-in insurance perks, including:

• Trip delay reimbursement
• Rental car collision damage waiver
• Cell phone protection
• Purchase protection

Bilt Rewards points can be redeemed for travel either by transferring them to airline and hotel partners or by booking through the Bilt Travel Portal at a fixed rate of 1.25 cents per point. Other redemption options include using them to shop online, book fitness classes, pay rent and even make a down payment on a home.

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Rewards

• 2X points per dollar on everyday purchases such as groceries, gas, electronics, household goods and telecommunications
• 1X point per dollar on all other purchases

Welcome bonus

Earn 20,000 points when you spend $3,000 in the first 60 days from account opening.

Annual fee

$0

Notable perks

Not only does the Choice Rewards World Mastercard have a low APR, but it also has no foreign transaction fees, which is a huge plus when traveling abroad. It is a World Mastercard and as such, comes with purchase protection, Mastercard ID Theft Protection and 24-hour worldwide assistance for lost or stolen cards. It has an array of travel protections as well, including insurance for trip cancellations, travel accidents, baggage delays, lost luggage and rental cars (secondary).

Membership to First Tech Federal Credit Union is required to apply, but anyone can join through affiliation with select organizations or employers, a relationship with a current member, working or living in Lane County, Oregon, attending Cogswell Poly Technical College or by joining the Community History Museum (CHM) or Financial Fitness Association (FFA). First Tech pays the membership fee for the CHM and FFA on your behalf.

The rewards can be redeemed at a fixed rate toward cash-back, travel, merchandise, gift cards and experiences.

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Rewards

• 1.5X points per dollar on all purchases

Welcome bonus

Earn 25,000 bonus points after spending at least $1,000 in purchases in the first 90 days of account opening.

Annual fee

$0

Notable perks

In addition to having no annual fee, the Bank of America Travel Rewards for Students card charges no foreign transaction fees, which is useful when studying or traveling abroad.

You must be 18 or older and enrolled in school (college, vocational or trade school) to qualify for this card. Eligible students have access to a 0%-APR offer on purchases and balance transfers for the first 15 billing cycles, then a variable 18.24%-28.24% APR applies. Only balance transfers made in the first 60 days of account opening qualify for the 0%-APR offer and there is a 3% balance transfer fee.

Rewards can be redeemed as a statement credit to cover the cost of travel and dining purchases — a simple way to reduce the cost of taking a spring break vacation or buying a plane ticket home. You can redeem rewards at any time and at any amount.

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Rewards

• 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter
• 1% cash back on all other purchases

Welcome bonus

Discover will match the cash back you earn during the first year with no minimum spending requirement or cap on the match.

Annual fee

$0

Notable perks

The Discover it Secured card is designed for those who have no credit history or need to repair their credit score. You don’t need a credit score to apply. Instead, you’re required to make a refundable deposit of at least $200 to open the card. Whatever amount of money you deposit becomes your credit limit.

At seven months from account opening, Discover will automatically review your credit card account to see if they can transition you to an unsecured line of credit and return your deposit. The card also has no foreign transaction fees, so you won’t be dinged for using it abroad.

Cashback earned with this card doesn’t expire and you can redeem your rewards at any time for statement credits, gift cards, merchandise and more.

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Consider whether you’re willing to pay an annual fee. Some travel cards have steep annual fees over $500, which can be worthwhile, but not for everyone. Make sure you do the math to see if an annual fee travel card is for you.

Another key factor to consider is the type of travel you do most. If you travel within the U.S., then it doesn’t matter if a card charges foreign transaction fees. But if you’re off to Mexico or Spain, then it’s important to have a no foreign transaction fee card.

Rewards should also play a part in your decision. Do some research to determine which card offers a rewards program more geared toward your spending habits. If you dine out a lot when you travel, consider the American Express Gold Card with 4X points on dining at restaurants. But if you want a competitive rewards rate on all sorts of purchases, the Discover it Miles has no annual fee and unlimited 1.5X miles on every dollar of every purchase.

You can compare card benefits side by side to see if one card rates better than another. The Chase Sapphire Reserve, for example, offers complimentary lounge access, while the Capital One Venture Rewards Credit Card offers cardholders a fee credit for Global Entry or TSA PreCheck.

Once you’re familiar with the terms of your card, you can start optimizing them. That may include setting reminders to use the annual $300 travel credit provided by the Chase Sapphire Reserve or submitting a Global Entry application with the Capital One Venture Rewards Credit Card to take advantage of the up to $100 credit.

If you have multiple credit cards, you might want to have a plan for the best time to use each card. Let’s say you have the Discover it Miles and American Express Gold Card. Use the Amex Gold Card for dining expenses at restaurants to earn 4X points, then use the Discover card for all your other purchases to earn unlimited 1.5X miles.

Beyond rewards, you might benefit from a card that offers a 0% APR period. Some cards offer no interest for a year or more on new purchases and balance transfers, such as the Citi Simplicity® Card. The card has 0% intro APR for 21 months on balance transfers from the date of first transfer, plus 0% intro APR for 12 months on purchases from date of account opening (after, 19.24% – 29.99% variable APR; balance transfers must be completed within four months of account opening.) There is an introductory balance transfer fee of 3% or $5, whichever is greater for transfers completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5). When used responsibly, these cards can help you get out of debt without high interest charges.

Before you sign up for a travel credit card, consider how you’ll use it and how you can best optimize its rewards program, especially if you’re paying a steep annual fee. It’s also important to make sure you can pay off your balance on time and in full each month because many of these cards have high interest rates.

The good news: If you choose a card from this list, you could earn over $2,000 in rewards over the next five years based on our calculations.

CNBC Select teamed up with location intelligence firm Esri. The company’s data development team provided the most up-to-date and comprehensive consumer spending data based on the 2019 Consumer Expenditure Surveys from the Bureau of Labor Statistics. You can read more about their methodology here.

Esri’s data team created a sample annual budget of approximately $22,126 in retail spending. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses.

We then estimated how much the average consumer would redeem over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee and assume that you are paying your credit card balance on time and in full each month so as not to incur interest charges.

It’s important to note the value of a point or mile varies from card to card and based on how you redeem them. When we calculated the estimated returns, we assumed that cardholders are redeeming points/miles for a typical maximum value of 1 cent per point or mile. (Extreme optimizers might be able to achieve more value.)

Our final picks are weighted heavily toward the highest five-year returns, since it’s generally wise to hold onto a credit card for years. This method also avoids giving an unfair advantage to cards with large welcome bonuses.

While the five-year estimates we’ve included are derived from a budget similar to the average American’s spending, you may earn a higher or lower return depending on your travel habits.

The editor’s choice card is independently chosen by CNBC Select’s editorial team. While it may not have ranked as the number-one card in any given category, it consistently ranks highly across multiple categories and we believe offers some of the best value overall for a stand-alone card. Its rewards, welcome bonus, APR, fees, ease-of-use and ongoing benefits were all taken into consideration.

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