Best Vacation Credit Cards

Posted by entri in Finance

There are several ways that you can make the most out of your credit cards while you are on vacation. Credit card companies today will offer many perks to their customers such as rewards points and flight mileage. The first step to being able to obtain one of these highly-rated credit cards is to have complete charge of your credit report and score. Knowing what your score means and how you can improve it can be the key in obtaining the credit that you truly deserve. Make sure you know all of the facts before signing up for any new credit card and know what the benefits are as well as the cons.

Credit card companies do not want to give a credit card to someone who cannot pay their monthly bill. So having a good credit score is important if you want to be offered a credit card with a good interest rate. A credit score is determined by weighing out different aspects of a credit rating such as amount of credit history, number of different credit inquiries, years with credit history, and so on.

You are considered to have bad credit if you fall into the 300-629 category. If you fall into this category then you will probably only be able to obtain secured credit cards. 630-689 would put you in the fair category. If you are trying to obtain a home you may have to come up with a higher amount for a down payment. 690-719 is considered good credit and you can get approved for most credit cards but maybe not the high-end credit cards with the really low interest rates. 720-850 scores give you special treatment with an excellent credit rating. You will get special treatment and get the best rates on any type of credit.

If you do have excellent credit and would like to earn flight mileage or other types of rewards there are some great opportunities available to you. Mileage credit cards are a good option for business travelers but also can be used by regular travelers depending on how much you travel. The best kind of mileage credit card is one that will offer you the highest amount of points and miles while also offering the best travel opportunities with very few limitations. The Chase Sapphire Preferred Card offers a bonus of 40,000 miles after you spend $3,000 in credit. If you book your travel through Chase’s website then you get a 25% added to that. The Citi Platinum Select Visa Signature card also provides a good option for you to earn a great deal of points. They offer you 30,000 bonus points for every $1,000 that has been spent which is a steal. If you book hotels with this card you get an additional 3,000 miles.

Make sure you get all of the facts before signing up. Keep track of your credit score and make sure you do research to find the right card for you.