Benefits of Using Travel Credit Card
The Credit Cards are a great boon for all travellers, it helps them do transactions without the need for carrying foreign currency. This article lists out the benefits of using a Travel Credit Card.
If you are involved in a profession that requires you to travel constantly or if you like to explore new places and travel often, you would surely know the benefits of a Travel Credit Card. Let us look at the various benefits you can avail of using a Travel Card.
Earn points every time you use the card
Typically, the Travel Credit Cards provide points to the users in two ways - you get a substantial sign-up bonus points when you first sign for the card and you get certain points for every transaction you do with the card - be it booking a flight ticket, making hotel reservations or eating at a certain partner restaurant. The points you collect can be redeemed at a later date to get discount on your bookings.
Zero foreign transaction fees
Most Credit Cards and Debit Cards charge a certain transaction fee every time you use it in a foreign country or you do a transaction in a foreign currency. The fee is usually about 3% of the transaction amount, which is a significant sum and it can quickly add up to your monthly Credit Card bills. This is where Travel Credit Cards are a boon for foreign travels, the best Travel Credit Card in India will have zero foreign transaction fee.
No risk of fraud
One of the major drawbacks of carrying cash, Credit or Debit Cards on your travel to a foreign country is that there is a risk of theft and phishing. The bank details can be stolen and the information can be used for unauthorised transactions. In such cases, you are liable to bear the loss. However, if you use Travel Credit Cards, you get protection against fraud liability. So, you don’t have to worry about being liable for the money stolen from your bank account.
Insurance against lost luggage
Loss of luggage is a reality that can happen to anyone. Apart from the mental stress it causes due to loss of your valuables, it also has financial implications. There is no worse feeling than knowing that you have arrived in a foreign country for your dream vacation but your luggage has not arrived. This is where Travel Cards play an important role. The best Travel Credit Card can help you recover the cost of the lost luggage.
Insurance against accident/mishap
In case any catastrophic event occurs on your trip, it would be difficult to recover your loss unless you have taken special efforts to buy a travel insurance cover. However, if you have a Travel Credit Card, you can get compensation for your losses. The best Travel Card provides a travel accident cover, which helps you get reimbursement if anything terrible happens to you or your family members during your trip.
The benefits listed above can help you save a significant amount every year and you won’t get these benefits using your Debit Card or Credit Cards. This is why you must have a good Travel Credit Card in your wallet and be a smart traveller.
The contents of this document are meant merely for information purposes. The information contained herein is subject to updation, completion, revision, verification and amendment and the same may change materially. The information provided herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person‘s nationality, residence or otherwise) be contrary to law or regulation or would subject lClCl Bank or its affiliates to any licensing or registration requirements. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Please obtain professional legal, tax and other investment advice before making any investment. Any investment decisions that may be made by you shall be at your sole discretion, independent analysis and at your own evaluation of the risks involved. The use of any information set out in this document is entirely at the recipient's own risk. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith by lClCl Bank and from sources deemed reliable. There can be no assurance that such projections will prove to be accurate. lClCl Bank does not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith and sources considered reliable by lClCl Bank. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. 'lClCl ' and the 'I-man' logo are the trademarks and property of lCICl Bank. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.
Scroll to top