8 Cards Offering Exceptional Travel Credits That Essentially Nullify High Fees

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The top travel credit cards come packed with perks, including airport lounge access, elite status, and competitive earning rates on travel purchases. Typically, these substantial benefits come with a hefty annual fee, which can exceed $500. However, in reality, the high fees of many leading travel cards may not be as daunting as they seem, thanks to straightforward annual travel credits.

Indeed, most premium travel credit cards today provide annual credits for airfare, airline fees, rideshare services, and more, all reimbursed as statement credits. When you deduct these travel credits from the annual fees, the resulting figures may surprise you, often aligning closely with low-fee travel cards that are perceived as more accessible.

This straightforward calculation doesn’t even consider the significant value of additional card benefits such as complimentary award nights, lounge access, nontravel credits, or Global Entry credits, among others. It also overlooks enticing welcome offers that enhance the initial year of credit card membership. It’s purely about the cash value of fees versus credits.

We analyze the numbers on eight premium travel credit cards where travel credits significantly lower annual fees, often bringing them down to $95 or even less.

1. Southwest Rapid Rewards® Priority Credit Card

Ideal for: The Southwest Rapid Rewards® Priority Credit Card is perfect for those who consistently choose Southwest as their airline of choice.

Yearly travel credits: $75 Southwest travel credit each year.

Annual fee prior to credits: $149

Annual fee after applying credits: $74

Current sign-up bonus: Receive 85,000 bonus points after spending $1,000 within the first 3 months of account opening.

2. The Platinum Card® from American Express

Ideal for: The Platinum Card® from American Express is tailored for frequent travelers and globetrotters seeking a travel credit card loaded with benefits.

Annual travel credits: Up to $789 each calendar year; includes up to $200 in hotel credits (issued as statement credits) for prepaid Fine Hotels + Resorts or Hotel Collection bookings (minimum two-night stay required) through American Express Travel, up to $200 in airline fee credits for incidentals on one chosen airline (issued as statement credits), up to $200 in Uber Cash (distributed monthly), and up to $199 for Clear Plus Credit. Enrollment is necessary.

Annual fee prior to credits: $695 (refer to rates and fees)

Annual fee after applying credits: -$94

Current sign-up bonus: Earn 80,000 Membership Rewards Points after spending $8,000 within the first six months of account opening.

3. World of Hyatt Business Credit Card

Ideal for: The World of Hyatt Business Credit Card is perfect for travelers who often stay at Hyatt properties.

Annual travel credits: Up to $100 in Hyatt statement credits. Spend $50 or more at any Hyatt location to earn $50 statement credits, available up to twice each year during your card membership.

Annual fee prior to credits: $199

Annual fee after applying credits: $99

Current sign-up bonus: Earn up to 60,000 bonus points after spending $5,000 in the first three months of account opening.

4. Capital One Venture X Rewards Credit Card

Ideal for: The Capital One Venture X Rewards Credit Card is perfect for those seeking a versatile travel card with excellent earning rates.

Annual travel credits: $300 for travel when booked through Capital One Travel.

Annual fee prior to credits: $395

Annual fee after applying credits: $95

Current sign-up bonus: Earn 75,000 bonus miles after spending $4,000 in the first three months of account opening.

5. United Quest℠ Card

Ideal for: The United Quest℠ Card is perfect for travelers who choose United as their primary airline.

Annual travel credits: $125 credit on United purchases each year. (Terms apply.)

Annual fee prior to credits: $250

Annual fee after applying credits: $125

Current sign-up bonus: Earn 60,000 bonus miles and 500 Premier qualifying points after spending $4,000 within the first three months of account opening.

6. American Express® Gold Card

Ideal for: The American Express® Gold Card is perfect for individuals seeking a versatile travel card with strong earning potential.

Annual travel credits: $120 in Uber Cash each year (allocated monthly). You must have the latest version of the Uber App, and your eligible American Express Gold Card needs to be set as a payment method in your Uber account. This benefit is only valid in the United States.

Annual fee prior to credits: $325 (refer to rates and fees)

Annual fee after applying credits: $130

Current sign-up bonus: Earn 90,000 Membership Rewards Points after spending $6,000 in the first six months of account opening, plus receive 20% back in statement credits on eligible restaurant purchases worldwide within the first six months of card membership, up to $100.

7. Marriott Bonvoy Brilliant® American Express® Card

Ideal for: The Marriott Bonvoy Brilliant® American Express® Card is perfect for those who often stay at properties within the Marriott family.

Annual travel credits: Up to $400 each calendar year; includes up to $300 in statement credits annually (up to $25 per month) for eligible dining purchases globally, and a $100 property credit for qualifying expenses at The Ritz-Carlton or St. Regis when booked directly using your card for a minimum two-night stay.
Annual fee prior to credits: $650 (see rates and fees)
Annual fee after applying credits: $250
Current welcome offer: Earn 95,000 Marriott Bonvoy bonus points after $6,000 in purchases during the first six months of card membership.

8. Chase Sapphire Reserve®

Ideal for: The Chase Sapphire Reserve® is perfect for those seeking a versatile travel card with robust built-in travel insurance.

Annual travel credits: Receive up to $300 annually for travel-related purchases made with your card.

Annual fee prior to credits: $550

Annual fee after applying credits: $250

Current welcome offer: Earn 60,000 bonus points after spending $4,000 within the first three months of account activation.

Key Takeaways:

If you’ve been hesitant about travel credit cards due to high annual fees, it’s time to rethink that stance. A bit of simple math reveals that, once annual credits are applied, the costs of top-tier cards often align with those in the lower fee range. Plus, you gain access to a range of perks, from airport lounge access to automatic elite status with select hotel chains.

This article was last updated on June 18, 2024. While the offers outlined here are accurate at the time of publication, they may change at any time and could no longer be available.