If you are planning a trip overseas, you are going to need at least one (and preferably two) Visa cards or MasterCards. The reason it is crucial to have MasterCard or Visa cards when you travel internationally is that, unlike Discover and American Express, these cards are accepted just about everywhere credit cards can be used. Unfortunately, not all MasterCard and Visa cards are created equally, and some are better for international travel than others.
A key drawback to using credit cards when you travel is foreign transaction fees. Most banks charge international fees of 2-4%, even if you use your card to book a hotel abroad from the U.S. International credit card fees can add up quickly. On a five-night hotel stay, it is very easy to rack up $40 to $50 in these charges alone. If you spend $1000 while traveling, you can expect to pay yet another $40 or so.
Ultimately, the best credit cards for travel charge no international/foreign transaction fees. Unfortunately, only one major card company charges no fees. Any card from this company is likely to be the best card for travel.
Once you find a Visa or MasterCard (or one of each) that has no international fees, the next step is to get one that either offers a 0% interest rate, a low long-term APR, or good rewards. This shouldn’t be a problem. However, when selecting a new card, avoid tempting airline mile cards and instead look for a card that offers cash back rewards. While a travel-oriented mindset may make a mile’s card seem appealing, cash back rewards are much more valuable, easier to use, and generally come with no fees attached.
Finding the best credit card for travel isn’t a difficult process. Because only one major card company charges no international transaction fees, there really is only one place to start and end your search for the best money-saving deal.
If you own your own business and you’re carrying credit card debt from month to month that you just can’t seem to pay off, you’re not only adding financial stress to your life, and you’re wasting money.
Business credit cards these days carry an average annual APR of around 15 percent. That can add up quickly, even if your rollover balances each month is just a few thousand dollars. If that describes your situation, it may be time to consider a balance transfer business credit card.
A balance transfer business card is essentially the same as any other credit card but with a low- or 0%-introductory APR on balances transferred from another credit card. Some offer lengthier introductory periods than others, and many offer cash-back rewards, 0% financing on the new purchase, and even sign-up bonuses. Keep in mind that you’ll likely pay a balance transfer fee – usually 3% or 5% of the total balance moved – but there are cards that don’t charge this fee, which can be nice, particularly if your balance is large.
When considering all these options, it’s important to keep your primary business needs in mind to determine which kind of card is best for your situation. For example, if you think it will take you a while to pay off your transferred balance, you may want to go with a card with a longer introductory period. If you think you’ll get your balance paid off quickly, you may want a card that lets you earn the most rewards or has the lowest ongoing variable APR.
Because these cards are usually reserved for business owners with good or excellent credit, their offerings are competitive, so you may find more than one card that offers all the above.
If your current business credit card has a high variable APR, you’re carrying a balance you can’t pay off easily, or both, chances are you can save quite a bit of money transferring your balance to a new card. Likewise, if you’re getting to the point that making your monthly minimum payments is challenging, the breathing room a balance transfer card can offer could be helpful.
A balance transfer isn’t for everyone, though. If you’ve fallen behind on your payments because of your debt, you may have already damaged your credit scores to the point that you may not qualify for a new card; likewise, if you’ve maxed out your credit limit. You’ll need a good credit score for all the cards on this list.
Also, keep in mind that these introductory offers are just that, and any remaining balance at the end of your introductory period will automatically revert to the card’s standard variable APR, so you’ll want to pay it off in the time allotted.
Here are our picks for some of the best balance transfer business credit cards available today:
If you’re looking for a 0% APR offer on balance transfer, look no further than the Blue Business Plus Credit Card from American Express.
You’ll not only get a 0% introductory APR on balance transfers for 12 months; you’ll also pay no interest on purchases for that same period. After that, your APR will revert to the current 14.99% – 20.99% variable rate, based on your creditworthiness and other factors at the time of account opening.
There’s no annual fee for the Blue Business Plus card, and you’ll earn 2X points on all purchases up to $50,000 annually and 1X points for every additional dollar spent. On top of that, you can make purchases above your spending limit without prior approval, so large expenses won’t be a hassle, even while you’re paying off your balance transfer.
Keep in mind, though, that the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the card, your payment history, credit record, and other factors.
The Chase Ink Business Unlimited card lets you earn unlimited 1.5% cash back on every purchase made for your business. It comes with the same introductory 0% APR offer and all the same terms as the Ink Business Cash card.
The Capital One Spark Cash Spark Select for Business doesn’t come with a 0%- or even low-introductory APR, but if your current credit card has a high APR, it could still be worth transferring your balance to this card.
There are no fees – no balance transfer fee, no annual fee, and no foreign transaction fees. Based on your creditworthiness, you’ll pay a 14.74% – 22.74% variable APR on the balance you transfer. But again, if your current APR is higher than that, it could save you money.
On top of no fees, the Spark Cash Select also offers a 0% APR on all purchases for the first nine months from account opening, so you can focus on paying down your current debt without paying interest on new debt. You’ll also earn unlimited 1.5% cash back on those new purchases, and you can redeem at any time with no minimum.
The Spark Cash Select also offers new members a one-time $200 cash bonus when you spend $3,000 within the first three months from account opening.
Unlike consumer credit cards, only a handful of business credit cards make transferring existing balances simple and affordable, so you’ll probably find your options limited to only a few other cards not already mentioned here.
If a debt is weighing you down, you may want to consider alternatives to business credit cards that offer longer terms and lower interest rates, such as a business loan or business lines of credit. While business loans aren’t always easy to get, there could be loan options available that you’re currently unaware of.
Your due diligence is key to finding the best funding solutions for your circumstances, as with any financial matter.
Citi Premier
Citi Premier is a great card for beginners because of the rewards rates categories. You can earn 3x points on dining, travel, groceries, and even gas! If you’re not ready for international travel yet or just want to road trip around the country, the gas points alone will make a huge difference.
This card doesn’t come with many travel perks (no trip cancellation insurance, etc.). However, the low annual fee and sheer earning potential from gas points make this one of the best travel credit cards for beginners.
Annual fee: $95
Sign up bonus: 80,000 points
Rewards rates: 1x – 3x
Chase Sapphire Preferred
This card offers the full package of travel benefits for such a small annual fee, including trip cancellation insurance, auto rental insurance, baggage insurance, and even travel emergency services. That’s a lot of perks for such a small price. As if that wasn’t enough, this card also offers an incredible sign-up bonus of 100,000 points (nearly double what most other cards offer!).
The sign-up bonus alone makes this card a great starter card: You’ll earn the most bang for your buck in no time. Because the annual fee isn’t too high, this card is a great package deal for beginners wanting to try out one of the best credit cards for travel rewards.
Annual fee: $95
Sign up bonus: 100,000 points
Rewards rates: 1x – 2x
Delta Skymiles Gold American Express
The sign-up bonus on this card is a little less than others, but it also has a lower minimum spending requirement. That means no big spending to get the big rewards, perfect for beginners who might have reservations about spending so much on a credit card to earn the bonus points. Plus, with this card, you’ll earn 2x the points on dining and groceries and then redeem them for a Delta flight to wherever your heart desires.
This also comes with serious Delta perks such as a free checked back (goodbye baggage fees!) access to the exclusive Sky Club, early boarding privileges, and even a flight credit! And because there’s no annual fee for the first year, it’s a low commitment, high reward situation, making it one of the best travel credit cards for beginners.
Annual fee: $0 for the first year, then $99
Sign up bonus: 40,000 points
Rewards rates: 1x – 2x
Going through the above best credit cards for travel, I am certain you’ll have more than enough choices.
