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2016 Travel Credit Card Studies: Save $625 Domestically Plus 11% Traveling Abroad

May 21, 2016

Up to $625 in travel rewards await the roughly 75% of Americans planning a summer getaway via one of 2016’s Best Credit Cards for Summer Travel, while the 20% of people headed abroad can save an additional 11% by taking advantage of the favorable exchange rates offered by a no-foreign-fee credit card or debit card, according to a pair of studies released by the personal-finance websites WalletHub and CardHub.

Highlights from both reports can be found below.

Best Currency-Exchange Option: Using a no-foreign-transaction-fee credit card or a no-foreign-fee debit card is the least expensive way to convert currency, saving international travelers 10.84% relative to Travelex, 6.41% compared to banks and credit unions.
Best All-Around: Barclaycard Arrival Plus: 40,000 bonus miles = $400 in travel rewards; 2.1% back on all purchases when you redeem for travel; $89 annual fee ($0 the first year).
Best Initial Bonus: Chase Sapphire Preferred Card: 50,00 bonus miles = up to $625 in travel; $95 annual fee ($0 the first year).
Best Airline Rewards: Frontier Airlines World MasterCard: 40,000 bonus miles = 2 free round-trip domestic flights; 2 miles per $1 spent on FlyFrontier.com; $69 annual fee.
Best Hotel Rewards: Club Carlson Premier Rewards: 85,000 bonus points + 40,000-point anniversary bonus = up to 13 free nights; 10 points per $1 spent at Carlson properties; $75 annual fee.
Best Road-Trip Rewards: PenFed Platinum Rewards Credit Card: 5 points per $1 on gas at any station; 3 points per $1 on groceries; potential $15 membership fee.