Don’t travel internationally without this credit card
Planning a memorable summer vacation involves picking the right destination and the right credit card.
If you plan on traveling abroad, you may want to consider applying for the Bank of America Premium Rewards card, which has been named the best for international travel by Wallethub.
According to the credit card comparison site, the Bank of America Premium Rewards card ranks above the others because of its convenience services. This includes features like international merchant acceptance, expedited international delivery for lost cards, and financial assistance in case of a travel emergency. One helpful convenience BofA provides is the ability to request a PIN when traveling overseas. Most countries in Europe use chip and PIN technology, while US cards are only enabled with the chip and signature option. Having access to a PIN makes purchasing items internationally a more seamless experience.
Additionally, the card comes with a $100 airport security statement toward TSA Precheck or Global Entry, and up to $100 annually for qualifying travel purchases like seat upgrades, baggage fees, in-flight services and airline lounge fees.
Other top cards include the Bank of America Travel Rewards, Barclays Arrival Premier World Elite Mastercard, and the USAA Visa Signature Card. Annual fees on these credit cards vary: The BofA Travel Rewards card doesn’t have an annual fee, but the Barclays Arrival Premier World Elite Mastercard carries a $150 fee.
One card noticeably absent from the top five is the Chase Sapphire Reserve, which has been widely touted as one of the best travel credit card for consumers. The Reserve, and its counterpart the Chase Sapphire Preferred, tied for seventh place on Wallethub’s list. Their low ranking is due to both cards performing poorly in the convenience services category.
Overall, Wallethub looked at 49 of the most popular credit cards and compared everything from fees to insurance. The top 18 cards all offered no foreign transaction fee, which is a 2%-3% fee added to any purchase made through an international merchant. Of those, Capital One, Discover, USAA and Barclays are the only issuers that exclusively offer no foreign transaction fee cards.
If notifying your bank before you travel is a hassle, then consider getting an American Express or Capital One card. They’re the only issuers that automatically detect when you travel, removing the need for you to call your bank ahead of time.
The survey also found that 96% of credit cards offer rental car insurance, 86% offer travel accident insurance, and 37% provide some form of baggage coverage. The key is to make sure you research all options before applying, to make sure you’re getting the most benefits for your buck.
Brittany is reporter at Yahoo Finance. Follow her on Twitter @bjonescooper.
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