Best Travel Credit Cards In today’s global setup, credit cards that offer insurance coverage and reward points for travel have become increasingly popular. With air travel more frequent than ever before, it’s no wonder that people are looking for ways to make their journeys more comfortable. In fact, airport lounges and airline services have replaced the traditional rail-road system for many world citizens.We have recently reviewed the available travel credit cards in the market and identified some budget-friendly options that cater exclusively to travelers. These credit cards provide excellent benefits such as free access to airport lounges, air miles rewards programs, and discounts on hotel bookings. Travel credit cards are an excellent option for those who want to make the most of their travels while also enjoying the convenience and security of a credit card.
7 Best Travel Credit Cards in India 2024: Our Detailed List
IDFC Wow Credit Card
Why We Picked It
IDFC Bank has launched the Wow Credit Card targeting students and frequent travelers. It is specially created for those traveling abroad, offering zero forex mark-up charges and the opportunity to earn reward points. To obtain this credit card, individuals must open a linked fixed deposit account. This unique feature not only provides a credit limit but also enables the card to be used for various financial transactions, meeting the specific needs of students and globetrotters.
Features
• 4X rewards on every spend.
• Various offers at more than 300 partner merchants.
• 20% discount at more than 1500 partner restaurants.
• Zero Forex mark-up fee.
• Complimentary roadside assistance.
• Fuel surcharge waiver of 1% at all the fuel stations across India to the maximum of INR 200 a month.
• Personal Accident Cover of INR 2,00,000.
• Lost Card Liability Cover of INR 25,000.
• Up to 20% discount at partner restaurants.
• Up to 15% discount at partner health and wellness outlets.
• Interest rate of 7.25% is given on the FD done for the purpose of getting thai card.
• Minimum FD required is INR 10,000.
• 1 reward point = INR 0.25.
Pros & Cons
Pros
- 9% interest rate per annum on unpaid bills, which is the lowest for credit cards.
- Reward points on all purchases.
- Zero Forex charges.
Cons
- No airport lounge available.
Niyo Global International Travel Card
Why We Picked It
The Niyo Global International Travel Card stands out as a top choice due to its unique benefits. Of special mention is the card’s zero forex markup fee, which makes it a cost-efficient option for global travelers who want to make transactions overseas without paying additional fees. Moreover, the card’s seamless digital onboarding and instant activation enable users to easily manage their finances, such as loading funds, converting currencies, and conducting online transactions. While it’s recommended to keep a balance, the card’s lack of mandatory minimum balance adds flexibility, enhancing its overall appeal for travelers.
Features
• No forex markup fees for cost-effective foreign transactions.
• Load currency in INR and use it in 150+ countries with automatic currency conversion.
• Zero Balance Savings Account: No mandatory balance requirement, INR 10,000 recommended.
• Competitive interest rate of up to 6.5% interest per annum on your money.
• Load your account with no additional fees via NEFT, IMPS, or RTGS
• Free fund transfers via NEFT, RTGS, and IMPS
• Access lounges at major Indian airports.
• In-app currency converter with real-time currency rate information.
• In-app ATM locator to find nearby ATMs during travel.
• 0% commission on mutual fund Investments
• Exclusive in-app offers, like curated deals on hotels, flights, and more.
• VISA concierge services:24×7 digital personal assistant.
• Meet and assist service for customized travel services.
• 24×7 In-App Support: Access chat support for account assistance.
Pros & Cons
Pros
- Zero Forex Markup for cost-effective international transactions
- Load in INR, auto-convert to local currency
Cons
- May not be accessible for non-resident Indians or those outside India.
- No welcome gifts
Citi PremierMiles Credit Card
Why We Picked It
Citi Bank’s Citi PremierMiles Credit Card is unique in that it offers reward points, referred to as Miles, on transactions with all airlines, whereas most credit cards are designed for use with only one specific partner.
Features
• Welcome gift of 10,000 Miles
• Users get 10 Miles on spending INR 100 on airline transactions
• 4 Miles on spending INR 100 on all other spends.
• Miles do not have an expiry date on their use.
• Lost Card Liability Cover of INR 10 Lakh.
• One complimentary access to airport lounges across India in a quarter.
• Up to 20% discount in partner restaurants.
• These Miles can be redeemed at Taj Inner Circle and Inter Continental Hotel Group as this card makes the user a member of both these reward programs.
|
Taj Inner Circle |
2 Miles=1 TIC |
INR 1 |
|
Inter Continental Hotel Group |
1 Mile=1 IHG |
INR .41 |
These Miles can be redeemed at more or less all the airlines by paying for their tickets.
Pros & Cons
Pros
- This card provides Miles for all the airlines.
Cons
- No complimentary international airport lounges available
Air India SBI Signature Card
Why We Picked It
SBI has collaborated with Air India to launch the Air India SBI Signature Card, which is specifically designed for frequent travelers of the airline. The card provides reward points for every purchase made across all categories, not just limited to travel-related expenses. This feature makes the card more versatile and useful for customers who frequently use their credit cards for various purposes. The Air India SBI Signature Card is an excellent option for those looking to earn rewards while enjoying various benefits that come with it.
Features
• Welcome gift of 20,000 reward points.
• Users get complimentary membership of the Air India Frequent Flyer Program-Flying Returns.
• Get 4 reward points for every INR 100 spent.
• Get up to 1,00,000 bonus reward points annually
• Reward points are converted into Air India miles.
1 reward point = 1 Air India Air mile.
• Up to 30 reward points for every INR 100 spent on Air India tickets booked through airindia.com, airindia mobile app.
• 30 reward points when booked for self and 10 reward points when booked for others.
• International Airport Luxury Lounge Access to over 600 airport lounges with complimentary Priority Pass Program
• Complimentary Visa Lounge Access Program in India at domestic airports.
Pros & Cons
Pros
- Free reward points available every year.
- Both international and domestic lounges available.
Cons
- Deals only with Air India.
Axis Bank Vistara Signature Credit Card
Why We Picked It
Axis Bank and Air Vistara have partnered to introduce the Axis Bank Vistara Signature Credit Card, which offers Club Vistara Points for spending across various categories, not limited to flight bookings.
Benefits
- One premium economy class ticket available as a welcome gift.
- Club Vistara Silver Membership is available for the users.
- 4 Club Vistara points available on every spend of INR 200.
- Free domestic airport lounge access.
- 25% discount up to INR 800, in partner restaurants.
- 3 complimentary rounds of golf in a year.
- Purchase protection cover of INR 1 lakh
- $ 300 cover for the loss of travel document.
- $ 300 cover for the loss of check-in baggage.
- $ 300 cover for the loss of delay in check-in baggage.
- Transactions above 2500 can be converted to EMIs after informing the bank.Pros & Cons
Pros
- Reward points on all kinds of spends.
Cons
- No international airport lounge access.
Club Vistara SBI Card
Why We Picked It
SBI recently introduced the Club Vistara SBI Card in partnership with Air Vistara. This credit card offers Club Vistara Points for every transaction made using the card. The points accumulated can be redeemed for various rewards such as free flights, upgrades, and hotel stays. Additionally, the card also provides benefits like lounge access, priority check-in, and extra baggage allowance, making it an excellent choice for frequent travelers seeking exclusive perks.
Features
- Economy class ticket as an E-Gift Voucher on payment of annual and renewal fee every year.
- Club Vistara Points on a spend of every INR 200.
- Insurance cover for four cancellations per year, each limited to INR 3,500
- Lost card liability cover up to INR 1 lakh
- Air Accident Cover up to INR 50 lakh
- Loss of check in baggage up to INR 72,000
- Delay of check in baggage INR 7,500
- Loss of travel documents up to INR 12,500
- Baggage Damage Cover up to INR 2500
- Priority pass membership worth USD 99.
- One domestic airport lounge visit per quarter.
Pros & Cons
Pros
- Insurance cover for four cancellations per year.
Cons
- Just one airport lounge visit in a quarter.
LIT Credit Card
Why We Picked It
Customers can enable the 5% cashback on Travel feature on their LIT Credit Card for INR 299 and can receive cashback on all their travel expenditures, including Air travel, Trains, and Bus bookings.Customers can also enable up to 4 lounge accesses every 90 days, starting at INR 199, which can be utilized in Domestic airport lounges across India.Furthermore, customers can activate 10X rewards on the Online spends feature for INR 299 and earn 10X rewards on online travel expenses.For instance, if a customer has made travel bookings and activated the 5% Cashback on Travel feature & 10X reward points on online spending feature, they will receive a total benefit worth INR 1,050 in a single 30-day cycle. Activated features are valid for 90 days.
Pros & Cons
Pros
- Dual rewards, as reward points and cashback.
Cons
- No welcome benefits.
Features and Benefits of a Best Travel Credit Cards
Listed below are the characteristics and advantages of a travel credit card:
Rewards Program: A strong travel credit card should have a lucrative rewards program, offering points or miles for every dollar spent, with bonus categories for travel-related expenses.
Sign-Up Bonus: A generous sign-up bonus provides a substantial initial boost to your rewards balance, often earned after spending a certain amount within the first few months.
Flexible Redemption Options: Look for cards that offer flexibility in how you redeem your rewards, such as options to book travel directly, transfer points to airline or hotel partners, or redeem for statement credits.
Travel Insurance: Comprehensive travel insurance coverage, including trip cancellation/interruption, baggage protection, and rental car insurance, can provide peace of mind during your travels.
No Foreign Transaction Fees: A good travel credit card should not charge foreign transaction fees, making it cost-effective for international use.
Airport Lounge Access: Some premium travel cards provide access to airport lounges, offering a comfortable and relaxing environment during layovers.
Global Acceptance: Ensure the credit card is widely accepted globally, allowing you to use it in various countries without issues.
Annual Fee vs. Benefits: Evaluate the annual fee against the benefits provided, ensuring that the perks and rewards outweigh the cost of card ownership.
Additional Travel Perks: Look for additional travel-related perks such as TSA PreCheck/Global Entry fee credits, hotel upgrades, concierge services, and exclusive events.
Security Features: Robust security features, including fraud protection and alerts, are crucial to safeguard your financial information while traveling.
Ease of Use: A user-friendly interface and easily accessible account management tools contribute to a positive cardholder experience.
Customer Support: Reliable customer support, especially during emergencies or while abroad, is important for a smooth travel experience.
Introductory 0% APR Period: Some travel cards offer an introductory period with 0% APR on purchases, which can be beneficial if you plan to carry a balance for a short time.
Eligibility to Apply for Best Travel Credit Cards
Eligibility criteria for travel credit cards can vary among issuers and specific card offerings, but there are some common factors that lenders typically consider when evaluating applicants. It’s important to note that meeting these criteria doesn’t guarantee approval, as credit card approval decisions are ultimately at the discretion of the issuing bank. Here are key factors that influence eligibility:
Credit Score: A good to excellent credit score is often a prerequisite for travel credit cards. Lenders generally look for a credit score in the range of 670 and above. The higher your credit score, the better your chances of approval and securing favorable terms.
Credit History: Lenders assess your credit history, including your payment history, the length of your credit history, and any negative marks such as late payments or bankruptcies. A positive credit history enhances your eligibility.
Income: Your income is a crucial factor in determining your ability to repay credit card balances. Some premium travel cards may have minimum income requirements, so it’s essential to meet or exceed those thresholds.
Debt-to-Income Ratio: Lenders evaluate your debt-to-income ratio, which is the percentage of your monthly income that goes toward debt payments. A lower ratio is generally favorable and indicates a lower risk for the lender.
Stable Employment: A consistent and stable employment history can boost your eligibility. Lenders may consider your job stability and income consistency as indicators of your ability to manage credit responsibly.
Existing Debt: Lenders assess your existing debt obligations, such as mortgages, car loans, and other credit cards. A moderate level of existing debt may be acceptable, but excessive debt relative to your income could be a red flag.
Age: In many countries, applicants need to be at least 18 years old to apply for a credit card. Some premium travel cards may have higher age requirements.
Citizenship/Residency: Some credit cards may have specific requirements regarding citizenship or residency status. Make sure you meet these criteria before applying.
Number of Recent Applications: Be cautious about the frequency of your credit card applications as applying for several within a brief timeframe can have adverse effects on your credit score.
Documents Required to Apply for Best Travel Credit Cards
The specific documents required to apply for a travel credit card can vary based on the issuing bank and the country in which you reside. However, here is a general list of documents commonly requested by credit card issuers during the application process:
Proof of Identity:
- Passport
- Driver’s license
- National ID card
Proof of Address:
- Utility bill (e.g., electricity, water, gas)
- Rental agreement or lease
- Bank statement with your current address
Proof of Income:
- Recent pay stubs
- Income tax returns
- Employment verification letter
- Business ownership documents (if self-employed)
Credit History Information:
- Credit report (requested by the issuer)
- Information about existing loans or credit cards
Social Security Number (or equivalent):
- Some countries may require a Social Security Number or a similar identification number for credit card applications.
Employment Details:
- Information about your current job, including employer’s name, address, and contact information
Additional Financial Information:
- Details about your assets, investments, or other sources of income
Visa/Residency Status (if applicable):
- If you are not a citizen of the country where you are applying, you may need to provide proof of your visa or residency status.
Recent Photographs:
- Some applications may require passport-sized photographs.
Application Form:
- Complete the credit card application form provided by the issuing bank. This form typically includes personal information, financial details, and a declaration of your understanding of the terms and conditions.
How Do I Apply Online for Travel Credit Cards?
Applying online for a travel credit card is a relatively straightforward process. Here’s a step-by-step guide to help you through the online application:
Check Eligibility: Review the eligibility criteria for the specific credit card you’re interested in to ensure you meet the requirements, including credit score, income, and other factors.
Gather Necessary Information: Collect the required documents and information, such as proof of identity, proof of address, proof of income, and any other documents specified by the issuing bank.
Visit the Issuer’s Website: Go to the official website of the bank or financial institution that issues the travel credit card. Look for the credit card section.
Navigate to the Card’s Page: Find the page dedicated to the travel credit card you want to apply for. This page usually provides details about the card’s features, benefits, and terms.
Start the Online Application: Look for a button or link that says “Apply Now” or a similar phrase. Click on it to initiate the online application process.
Fill Out the Application Form: Complete the online application form with accurate and up-to-date information. You’ll need to provide personal details, contact information, employment information, financial details, and other relevant data.
Upload Documents: Some online applications may allow you to upload supporting documents directly. Follow the instructions provided by the application portal to submit any required documentation.
Review Terms and Conditions: Before submitting your application, carefully review the terms and conditions of the credit card. Pay attention to interest rates, fees, rewards structure, and any other important information.
Submit Your Application: Once you’ve filled out the application form and reviewed the terms, submit your application. You may receive an immediate decision in some cases, while others may take a few days.
Wait for Approval: After submitting your application, wait for the issuing bank to review and process it. The bank may contact you for additional information if needed.
Activate Your Card: Upon approval, you’ll typically receive your credit card by mail. Follow the instructions provided to activate your card before you can start using it.
Precaution: Remember to keep a record of your application reference number and any confirmation emails you receive. If you encounter any issues or have questions during the application process, don’t hesitate to contact the bank’s customer support for assistance.
Methodology for Choosing the Best credit card for travel
We Have conducted an analysis of leading credit cards offered by major financial services companies in India, taking into account key factors such as:
Ease of Use: Clarity and ease of use are crucial for reward point systems. Customers should understand how to earn and redeem points, as well as any limitations. Communicating the cap on earning reward points is important to avoid confusion. A transparent system can boost customer satisfaction, loyalty, and repeat purchases.
Extra Facilities: Credit cards offer more than just payment features. They come with additional benefits like cashback, reward points, discounts on dining, shopping, and travel, fuel surcharge waivers, airport lounge access, concierge services, and insurance coverage. Carefully review the terms and conditions of each card to choose the one that suits your needs.
Cost of the Card: The cost of a product or service is determined by more than just the upfront price. Additional fees and incentives can impact the total amount paid. Annual fees are recurring charges associated with credit cards and subscriptions. Add-on charges increase the base price for optional features. Hidden charges are unexpected costs on the bill. Rebates offer cashback or discounts on future purchases. Consider all these factors when evaluating the overall cost.
Acceptance: It is crucial for every card issuer to guarantee that their cards are accepted universally, as this greatly impacts the issuer’s credibility. When cardholders are confident in the widespread usability of their cards at different merchants and locations, they are more inclined to have trust and dependence on the specific card. On the contrary, limited acceptance of a card can result in user frustration and discontent. Hence, issuers should aim to form partnerships with numerous merchants to ensure extensive acceptance of their cards.
Redemption of Reward Points: The redemption process for reward points should be transparent and user-friendly. Customers should easily understand their earned points and how to redeem them. The process should be seamless across platforms like apps and websites. A clear process can improve satisfaction and encourage repeat business. Offering various redemption options like discounts or exclusive experiences makes the program more enticing.
Frequently Asked Questions
How do we use a credit card for lounge access?
If the card allows for a complimentary lounge visit, you can use this benefit up to a certain number of times before being charged the regular fees. All you need to do is present the credit card at the lounge for entry. Remember the following points:
• Access to the lounge is always available upon departure.
•Excessive use of the lounge may not be possible upon the arrival of the flight.
•The lounge can only be used during specific hours as per the flight schedule.
• Upon receiving the new credit card with lounge access, individuals must go online to activate the pass. Those without activated membership may not always obtain admission.
How do travel credit cards work?
Travel credit cards function by providing users with incentives, usually in the form of points or miles, for qualifying purchases, particularly those related to travel. They frequently offer extra rewards for spending in specific categories such as airfare, accommodations, or dining. The accumulated points or miles can be exchanged for a variety of travel benefits, including flights, hotel stays, car rentals, and occasionally statement credits. Additionally, travel credit cards may offer supplementary advantages such as travel insurance, access to airport lounges, and no foreign transaction fees. Users can optimize the value of these cards by strategically earning and using rewards to meet their travel requirements.
What features should a travel credit card have?
An ideal travel credit card should provide a strong rewards program that includes bonus categories for travel expenses, a generous sign-up bonus, and flexible redemption options. It should also offer valuable travel perks like insurance coverage, airport lounge access, and no foreign transaction fees. Finding the right balance between annual fees and benefits, along with reliable customer support and security features, is essential for maximizing the value of a travel credit card for frequent or aspiring travelers.
How frequently should you travel in order to qualify for a travel credit card?
There is no set travel frequency needed to be eligible for a travel credit card, as qualification depends on factors such as credit score and income. These cards are beneficial for frequent travelers because of their rewards and advantages, but occasional travelers with future travel plans can also meet the requirements. The important thing is to match the card’s features with your spending habits and preferences to make sure the rewards and benefits justify any fees. Even those who don’t travel often can gain from travel credit cards by making use of sign-up bonuses and using the card wisely for both travel and daily expenses.
What are the main benefits of having a travel credit card?
A travel credit card offers various advantages, such as earning rewards for travel expenses, attractive sign-up bonuses, travel benefits like airport lounge access and priority boarding, no fees for foreign transactions, extensive travel insurance, statement credits, flexible redemption choices, exclusive event access, and chances for upgrades. These characteristics make travel credit cards valuable for those who want to enhance their travel experiences, earn rewards, and enjoy extra benefits.
