If you happen to travel a lot, there may be a time that something happens that causes the trip to go wrong. Perhaps you get sick and have to have medical treatment while you are overseas or the airline loses your baggage.
Before you pay for any of these expenses out of pocket, you should probably contact your credit card company. Often times, the credit card company will have traveler’s insurance that they can offer you if you have paid for your travel with their card. Normally the issuer will offer referrals that will make it easier for you to find the services that you need while in another country, whether it is finding an ATM or finding an attorney who speaks your language.
For those who travel often, travel coverage needs to be a factor that you think about when you are getting a new credit card. The benefits will vary from one issuer to the next, so being able to find the best protection will require you to shop around. Below is an overview of what some of the major credit card issuers will offer you.
MasterCard and Visa
There are plenty of banks that will issue cards that will use the MasterCard or Visa networks. Although, the benefits will depend on the lender. If you are the type that will make a lot of trips overseas, then you may want to find cards that are part of World MasterCard or Visa Signature. These are more exclusive and come with different types of insurance that is not available to basic cards, which include reimbursement for any delayed or lost baggage and accidental death coverage.
One of the best things about the World MasterCard happens to be that it really takes the sting out of missed connections and trip delays. If your trip has been delayed more than 6 hours, then you are entitled to $100 for every hour delayed, up to 9 hours, as well as $650 if you aren’t able to make the next flight. You are also able to get financial help if you need any medical care, with accidental insurance up to $1 million as well as medical evacuation in an emergency and repatriation benefits of $2 million.
When it comes to Visa, cards such as Chase Sapphire Preferred and RBC Rewards Visa Preferred are really generous to their travelers. Both of these cards offer trip interruption/cancellation reimbursement to help safeguard you from any unexpected events.
Normally, there will be a flipside to a great benefit package, such as a higher than normal annual fee. AAdvantage World MasterCard will charge you $95 yearly after your first year. The RBC Rewards Visa Preferred will charge you $110 yearly. When you have compared products, you need to keep in mind just how likely you will be to use the benefits offered before you decide which travel card you want in your wallet.
Most of the standard cards will offer basic level help for travelers with little to no annual fee. Take for example, that most cards will give you access to a hotline that will refer you to nearby consulates or hospitals. Even the basic Visa’s will cover collision damage if you used the card to pay for a rental car. Ensure that you have checked with the issuer or their website to have all the details about that card.
It isn’t a surprise that the company that is known for its traveler’s checks even has some pretty impressive benefits for those who are frequent fliers. If you are constantly flying or traveling overseas, American Express cards like Gold Delta SkyMiles Card, Platinum Card, as well as the Blue Sky Preferred Card are really worth the look. Each will give you travel accident insurance and rental car coverage which allows you to decline the rental insurance when you rent your car, as well as.
The Platinum card will have baggage insurance up to $2000 per bag as well as an airline fee credit of $200 yearly, which will reimburse you for your luggage check in fees, miscellaneous charges as well as flight change fees.
Just like with other cards that offer great perks, the one thing you will notice is that the annual fee is pretty high. The Platinum card is $450 a year, SkyMiles is $95 yearly, and Blue Sky only costs $75 per year. If you plan to travel a lot, and use the benefits that are offered, then paying a bit extra will end up a real bargain.
Even though it isn’t considered a travel card, Discover actually has some pretty nice travel perks. It comes with the normal travel assistance feature that will help you to locate a consulate or doctor overseas. It also has flight accident insurance of up to $500,000 and will help with baggage issues if it has been delayed for more than 3 hours. Additionally, card holders will have insurance, so they don’t have to get rental car insurance. Which these perks aren’t bad considered that most Discover cards have no annual fees.
Although, one of the issues is that the Discover card isn’t accepted in all countries. So, even though there are advantages to booking with this card, you should carry around another form of payment when you are abroad.
Most consumers will look at the rewards such as cash back, and travel points when they considered credit cards. If you happen to be a regular traveler, then don’t forget to add in any travel benefits that they may have. Prepare yourself for any financial situation on the road with our tips on using credit cards while traveling.