Traveling for work can be a rewarding experience, but it also comes with expenses. Choosing the right credit card can help you manage these expenses, earn valuable rewards, and enjoy travel perks that make your trips more comfortable and cost-effective. This article dives into the best credit card options for work travel in 2024, focusing on maximizing rewards and minimizing fees.
The ideal work travel credit card offers a combination of bonus rewards on travel and dining purchases, travel insurance benefits, and no foreign transaction fees. Let's explore some of the top contenders and understand what makes them stand out.
| Credit Card | Key Benefits | Ideal For |
|---|---|---|
| Chase Sapphire Preferred® Card | - 5x points on travel purchased through Chase Ultimate Rewards®; 2x on all other travel; 3x on dining; no foreign transaction fees | - Travelers who want a balance of travel and dining rewards, a manageable annual fee, and access to Chase Ultimate Rewards travel portal. Great for those new to travel rewards or who want a solid, versatile card. |
| Chase Sapphire Reserve® Card | - 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after earning your $300 travel credit; 3x on dining and all other travel worldwide; $300 annual travel credit | - Frequent travelers who can maximize the $300 travel credit and value the premium perks like airport lounge access (Priority Pass Select membership). Ideal for those who spend a significant amount on travel and dining annually and want top-tier travel benefits. |
| American Express® Business Gold Card | - 4x Membership Rewards® points on the 2 select categories where your business spent the most each billing cycle (up to $150,000 combined spend per calendar year), then 1x; no foreign transaction fees | - Business owners who want flexible rewards and value the ability to earn bonus points on their top spending categories. Best for businesses that spend heavily on advertising, shipping, gas, or other common business expenses, and who can benefit from Amex's business-focused features. |
| Capital One Venture X Rewards Credit Card | - 2x miles on all purchases; 10x miles on hotels and rental cars booked through Capital One Travel; $300 annual travel credit; no foreign transaction fees | - Travelers who want a simple rewards structure with a high earning rate on all purchases and valuable travel perks. A good option for those who prefer Capital One's travel portal and value the simplicity of earning 2x miles on everything. |
| The Platinum Card® from American Express | - 5x Membership Rewards® points on flights booked directly with airlines or with American Express Travel; 5x on prepaid hotels booked through American Express Travel; extensive travel benefits including lounge access, hotel status, and credits | - Luxury travelers who prioritize premium travel benefits and can maximize the card's extensive perks, even with its high annual fee. Ideal for those who frequently stay in hotels, fly business or first class, and value exclusive experiences. |
| Ink Business Preferred® Credit Card | - 3x points on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites and search engines (on up to $150,000 in combined purchases each account anniversary year); no foreign transaction fees | - Business owners who spend heavily on travel, shipping, and advertising. A strong choice for small businesses that want to earn bonus rewards on common business expenses and redeem them for travel. |
Detailed Explanations
Chase Sapphire Preferred® Card: This card is a great entry point into the world of travel rewards. It offers a solid earning rate on travel and dining, coupled with a reasonable annual fee. The 5x points on travel purchased through Chase Ultimate Rewards and 3x on dining are valuable benefits, and the points can be redeemed for travel, cash back, or gift cards. The absence of foreign transaction fees makes it ideal for international travel.
Chase Sapphire Reserve® Card: For the serious traveler, the Chase Sapphire Reserve® card is a powerhouse. While the annual fee is higher, the card comes with a $300 annual travel credit that effectively reduces the cost. The 5x points on flights and 10x on hotels and car rentals when you purchase travel through Chase Ultimate Rewards (after you spend $300 on travel) are fantastic. The card also provides access to airport lounges through Priority Pass Select, making travel more comfortable. The 3x points on dining and all other travel worldwide are also beneficial.
American Express® Business Gold Card: This card is designed for business owners who want flexibility in their rewards. The card earns 4x Membership Rewards® points on the 2 select categories where your business spent the most each billing cycle (up to $150,000 combined spend per calendar year), then 1x. These categories can include advertising, shipping, gas, and more. This dynamic rewards structure allows you to maximize your earnings based on your business's spending habits.
Capital One Venture X Rewards Credit Card: The Capital One Venture X card offers a simple and rewarding travel experience. It earns 2x miles on all purchases, making it easy to accumulate rewards regardless of the spending category. You'll also get 10x miles on hotels and rental cars booked through Capital One Travel. Plus, the card comes with a $300 annual travel credit, offsetting a significant portion of the annual fee. With no foreign transaction fees, it's a great option for international business travel.
The Platinum Card® from American Express: This card is the ultimate choice for luxury travelers. While the annual fee is substantial, the card offers an unparalleled suite of travel benefits, including access to a vast network of airport lounges (including Centurion Lounges), automatic hotel elite status, and various travel credits. The 5x Membership Rewards® points on flights booked directly with airlines or with American Express Travel and 5x on prepaid hotels booked through American Express Travel are valuable for frequent flyers and hotel guests.
Ink Business Preferred® Credit Card: This card is an excellent option for small business owners who spend heavily on travel, shipping, and advertising. It earns 3x points on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites and search engines (on up to $150,000 in combined purchases each account anniversary year). The points can be redeemed for travel through Chase Ultimate Rewards, providing flexibility and value.
Frequently Asked Questions
Which credit card has the best travel rewards?
The Chase Sapphire Reserve® and The Platinum Card® from American Express generally offer the most comprehensive travel rewards, but the best option depends on your spending habits and travel preferences.
What is the best credit card for airport lounge access?
The Platinum Card® from American Express provides the most extensive airport lounge access through its Priority Pass Select membership, Centurion Lounges, and other partner lounges.
Are there credit cards with no foreign transaction fees?
Yes, all the cards mentioned above – Chase Sapphire Preferred®, Chase Sapphire Reserve®, American Express® Business Gold Card, Capital One Venture X Rewards Credit Card, The Platinum Card® from American Express, and Ink Business Preferred® Credit Card – waive foreign transaction fees.
How do I maximize my credit card rewards for work travel?
Choose a card that aligns with your spending habits, book travel through the card's travel portal when possible, and take advantage of bonus categories like travel and dining.
What is a travel credit and how does it work?
A travel credit is a statement credit applied to your account after you make eligible travel purchases. It effectively reduces the cost of your travel expenses. For example, the Chase Sapphire Reserve® offers a $300 annual travel credit.
Should I get a personal or business credit card for work travel?
If you own a business, a business credit card like the American Express® Business Gold Card or Ink Business Preferred® Credit Card can offer valuable rewards on business-related expenses. Otherwise, a personal card like the Chase Sapphire Preferred® or Capital One Venture X Rewards Credit Card may be more suitable.
What are Chase Ultimate Rewards® points?
Chase Ultimate Rewards® points are a flexible currency earned through Chase credit cards. They can be redeemed for travel, cash back, gift cards, or transferred to partner airlines and hotels for potentially greater value.
What is the best way to redeem travel rewards?
Redeeming for travel, especially through travel portals or by transferring to airline and hotel partners, often provides the highest value.
Do travel credit cards offer travel insurance?
Many travel credit cards offer travel insurance benefits, such as trip cancellation/interruption insurance, baggage delay insurance, and rental car insurance. The specific benefits vary by card.
How does rental car insurance work on a credit card?
Many travel credit cards offer rental car insurance as a benefit when you pay for the rental with the card. This insurance typically covers damage or theft of the rental car, but may not cover liability.
Conclusion
Choosing the best credit card for work travel depends on your individual needs and spending habits. The Chase Sapphire Preferred® Card is a solid all-around option, while the Chase Sapphire Reserve® Card and The Platinum Card® from American Express offer premium benefits for frequent travelers. Evaluate your travel patterns and spending to select the card that maximizes your rewards and provides the most valuable perks for your business trips.