Travel isn’t simply about exploring exotic places; for many travellers, it has become their lifestyle and an adventure of discovery. Whether you’re a travel enthusiast who prefers exploring new locations or someone who flies for business purposes, having the best travel credit card in India can work wonders.
With multiple credit card options, choosing the right one can be quite challenging. Suppose each issuer offers exclusive rewards and benefits tailored to meet your travel needs. In that case, selecting the best travel credit card in India can get more difficult.
Wondering how to simplify the process? Simply check out these key considerations that can help you zero in on the best option effortlessly.
Why Opt for a Travel Credit Card?
Travel credit cards offer numerous rewards designed specifically to attract travellers. These offers may be in the form of points, air miles, or cashback on travel-related expenses. This makes travel more cost-effective while making every journey an experience in itself!
Also, most issuers provide add-on benefits such as:
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Insurance coverage
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Complimentary airport lounge access
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Exclusive offers on travel-based transactions
Factors to Consider When Choosing the Best Travel Credit Card in India
Here’s a brief overview of a few parameters to keep in mind before choosing your travel credit card:
Rewards and Associated Benefits
Select a credit card that offers generous travel rewards such as bonus miles, points, or cashback on travel-related purchases. Some cards even allow you to accrue points faster on certain categories like airfare, hotels, or dining expenses, enabling you to collect your rewards as and when required. Also, take note of redemption options like flight bookings, hotel stays, or merchandise to maximise the value of rewards you’ve accumulated.
For instance, certain credit card issuers offer travel miles when you use the card to book flights or hotels. You may also enjoy rewards when you exceed a certain spending limit at select outlets.
Annual Fees and Charges
Despite travel credit cards offering numerous attractive features, you may have to pay joining and annual fees. However, this varies from one card issuer to another. For instance, some issuers, such as the One Credit Card, do not charge joining or annual fees. In short, this is a lifetime free credit card and you don’t have to bother about these charges.
Likewise, explore multiple options and compare their fees before finalising a card. Even if you have to pay fees, ensure that the fees match the benefits. Did you know some card issuers even waive them entirely in the first year, providing more cost-effective alternatives.
All you have to do is look out for cards with zero or minimal annual fees, which can help you manage the card expenses without overburdening your finances. After all, the fee you pay every year for your card has to be worth the benefits it offers.
Interest Rates
Paying your balance in full and on time every month to avoid interest charges is always ideal. While you can opt for this method, clearing your dues in full every time may not be possible. Hence, choosing a card with competitive interest rates could help you save money should you carry forward the balance to the following month.
Foreign Transaction Fees
When travelling internationally, consider choosing a credit card with no or low foreign transaction fees. Foreign transaction fees can quickly add to your expenses, increasing international purchase costs. When you choose cards with global acceptance and favourable foreign transaction fees, your international travel becomes cost-effective.
Customer Care Service
Lastly, consider the quality and accessibility of credit card customer care services. Choose an issuer offering 24/7 customer support with knowledgeable representatives. Their reliable team can quickly respond to queries, issues, or emergencies, ensuring a hassle-free travel experience.
Look Beyond Rewards and Benefits
In addition to travel rewards and benefits, check out other additional features that can enhance your travel experience. Some cards provide travel insurance, airport lounge access, concierge services, and exclusive travel offers, which add convenience and luxury. Evaluate each card’s additional features carefully to determine which offers maximum value for your travel needs.
Eligibility Criteria to Meet When Opting for a Travel Card
While you know the benefits and parameters to consider when choosing a travel card, here are some common eligibility criteria most credit card issuers set. Once you match these parameters and submit relevant documents, you are good to go!
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Meet the required income parameter set by the issuer, as this is a crucial factor lenders check to determine your repayment capability
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Have a stable and consistent employment history so that lenders can assess your credit management skills
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Maintain an optimal credit score varying between 700 and 750 to get easy and quick approval
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Keep a lower debt-to-income ratio, as it signifies a lower risk for lenders
Finding a travel credit card that best matches your travel needs requires careful evaluation and comparison among various options to maximise value for your money. If you’re looking for a cost-effective option, consider applying for the One Credit Card.
Its unique OneTrips feature on the One Credit Card App lets you explore numerous destinations by creating a detailed expense planner based on your preferred travel mode. Apply for a card and enjoy numerous travel perks!
