Credit cards often provide travel insurance protection, though not all policies are equal. Before booking your next trip, learn about these premium cards’ coverage and limits to avoid surprises on arrival.
Credit card travel protections typically offer reimbursement for cancelled or interrupted flights, hotels, rental cars and tours as well as baggage delay insurance and emergency assistance services.
1. Bank of America Premium Rewards Credit Card
The Bank of America Premium Rewards Credit Card offers attractive rewards rates (2% for travel and dining purchases, 1.5% on other purchases) as well as helpful benefits like trip cancellation insurance, an annual travel statement credit, travel assistance services and no foreign transaction fees.
Trip cancellation insurance from Visa Card covers nonrefundable and prepaid expenses due to illness or inclement weather, up to $2,500 per ticket; it does not provide coverage for an entire trip.
Trip delay reimbursement, lost luggage reimbursement and access to a global emergency assistance hotline are also among its many perks. Requiring only excellent credit and with a moderate annual fee and limited rewards tier and sign-up bonus; it is ideal for travelers looking to earn substantial rewards while benefiting from additional travel-related purchase protections without incurring foreign transaction fees.
2. Chase Sapphire Preferred Credit Card
Chase Sapphire Preferred provides cardholders with a robust suite of travel benefits, such as trip cancellation insurance. This coverage reimburses cardholders up to $10,000 per person and $20,000 per trip for pre-paid nonrefundable travel expenses in case severe weather forces them to cancel or interrupt their trip. In addition, this card features baggage delay reimbursements and rental car collision damage waivers as perks of use.
The card waives foreign transaction fees, which can amount to as much as 3% of purchases overseas, as well as offering a complimentary Instacart+ membership and monthly statement credits of $10 toward drinks, snacks or groceries purchased from Gopuff until Dec 2024.
To qualify for the Chase Sapphire Preferred card, you need good to excellent credit. Chase evaluates several factors when underwriting you for this card – such as how many new cards have been opened within 24 months (also referred to as its 5/24 rule).
3. American Express Platinum Credit Card
American Express Platinum Cards provide travel protection through trip cancellation and interruption coverage as well as car rental loss/damage insurance policies. To qualify for these protections, payments must be made with this card using American Express Membership Rewards points, while also benefitting from American Express Global Assist’s hotline for medical assistance or emergency coordination assistance.
This card offers access to airport lounges and benefits at certain upscale hotels, with an annual fee of $695 that must be carefully considered when making a decision about whether the card is right for you. Our ratings are determined using a comprehensive scoring methodology which takes into account factors like coverage options, cost, customer experience and customization; they are independent from issuer reviews or endorsement.
4. Barclaycard Arrival Plus Credit Card
The Barclaycard Arrival Plus Credit Card is a travel rewards credit card that features travel cancellation insurance as well as an attractive welcome bonus of 70,000 Arrival miles – equivalent to $700 worth of statement credits if spent within 90 days! When used to make purchases of $5,000 within that timeframe.
Miles earned with this card can be redeemed for travel statement credits at a rate of 1 cent per mile, and its $89 annual fee will be waived for the first year – making this a good choice for frequent travelers who rely heavily on miles as rewards.
As with other credit card benefits, the exact terms and conditions of this one can differ widely depending on which card is chosen, so it’s essential that before applying you read all available coverage limits carefully and thoroughly understand them.
5. Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card is an ideal choice for travelers who value convenience, earning rates, and ongoing benefits. Every dollar spent earns two miles, plus five when using Capital One Travel for hotel stays or rental car reservations.
Roadside dispatch hotline that can arrange services such as medical and legal referrals, translations and lost luggage tracing are also included as part of its benefits package, along with trip cancellation/interruption coverage and car rental collision damage waiver.
This card requires excellent or good credit to qualify, and should be used to pay off any balance in every billing cycle. Before applying, check your free credit score on WalletHub first!
