topic Re: Do I 'need' a travel card? in Credit Cards

Do I 'need' a travel card?

Anonymous — Thu, 18 Aug 2016 02:16:30 GMT

Hey all. Quite happy with where I'm at, but had a financial advisor look at me like I'm nuts for not having a 'travel' credit card.. I seldom travel, and when I do its generally driving, pulling a boat, and staying at mom n pop resorts or more affordable hotel chains such as Holiday Inn, Country Inn and Suites, or Best Westerns...nothing im loyal to either. I understand the benefit of such a card if you actually travel. AFC credit, lounge access, and other perks can quickly offset the annual fee... but if I'm not buying any of those things or using them anyway, its not worth it, right? I get 3% back on Hotels, Airfare, Restaurants etc with my costco card and 4% on fuel with it.. (potentially more on one of those categories with my Discover It or Chase Freedom).. ..so I really wouldnt be gaining much on rewards either, right? I agree they can be extremely valuable to the right person, but not so much for me, right? Am I missing something? Thanks in advance.

Re: Do I 'need' a travel card?

tussking — Thu, 18 Aug 2016 02:18:44 GMT

I would say based on your current cards "YOU'RE IN GREAT SHAPE" !

Re: Do I 'need' a travel card?

darwin_wins — Thu, 18 Aug 2016 02:21:17 GMT

No need if you don't travel. Travel cards are really for people who travel a lot, collect those points and then use those points. So unless you travel a lot you will find yourself spending on that card and not collecting enough points to do anything with it.

Re: Do I 'need' a travel card?

SouthJamaica — Thu, 18 Aug 2016 02:35:10 GMT

@Anonymous wrote:
Hey all. Quite happy with where I'm at, but had a financial advisor look at me like I'm nuts for not having a 'travel' credit card.. I seldom travel, and when I do its generally driving, pulling a boat, and staying at mom n pop resorts or more affordable hotel chains such as Holiday Inn, Country Inn and Suites, or Best Westerns...nothing im loyal to either. I understand the benefit of such a card if you actually travel. AFC credit, lounge access, and other perks can quickly offset the annual fee... but if I'm not buying any of those things or using them anyway, its not worth it, right? I get 3% back on Hotels, Airfare, Restaurants etc with my costco card and 4% on fuel with it.. (potentially more on one of those categories with my Discover It or Chase Freedom).. ..so I really wouldnt be gaining much on rewards either, right? I agree they can be extremely valuable to the right person, but not so much for me, right? Am I missing something? Thanks in advance.

No you're not missing anything.

It's your financial advisor who's missing something.

Re: Do I 'need' a travel card?

UncleB — Thu, 18 Aug 2016 02:42:57 GMT

@darwin_wins wrote:
No need if you don't travel. Travel cards are really for people who travel a lot, collect those points and then use those points. So unless you travel a lot you will find yourself spending on that card and not collecting enough points to do anything with it.

I use my Sam's Club MasterCard for travel, which like the Costco Visa is also 3% cash back on hotel/airlines/etc. For my travel patterns (mostly off-brand hotels) a travel card just doesn't make sense, either.

For people like us, a 3% general travel card is the best option. Of course we each have to 'do the math' for our own situation, but for me I would actually lose money with a branded travel card, since they almost always have an annual fee.

Note that I would pay the Sam's membership fee even if I didn't have the credit card, so when I do my math I don't consider the membership fee to be an annual fee for the card itself.

Re: Do I 'need' a travel card?

Imperfectfuture — Thu, 18 Aug 2016 04:23:25 GMT

@SouthJamaica wrote:
@Anonymous wrote:
Hey all. Quite happy with where I'm at, but had a financial advisor look at me like I'm nuts for not having a 'travel' credit card.. I seldom travel, and when I do its generally driving, pulling a boat, and staying at mom n pop resorts or more affordable hotel chains such as Holiday Inn, Country Inn and Suites, or Best Westerns...nothing im loyal to either. I understand the benefit of such a card if you actually travel. AFC credit, lounge access, and other perks can quickly offset the annual fee... but if I'm not buying any of those things or using them anyway, its not worth it, right? I get 3% back on Hotels, Airfare, Restaurants etc with my costco card and 4% on fuel with it.. (potentially more on one of those categories with my Discover It or Chase Freedom).. ..so I really wouldnt be gaining much on rewards either, right? I agree they can be extremely valuable to the right person, but not so much for me, right? Am I missing something? Thanks in advance.
No you're not missing anything.

It's your financial advisor who's missing something.

Agreed, might consider new advisor.

Re: Do I 'need' a travel card?

Anonymous — Thu, 18 Aug 2016 05:21:53 GMT

Nope you don't need a travel card. Everyone spends differently and the cards you use should reflect YOUR lifestyle.

Re: Do I 'need' a travel card?

Anonymous — Thu, 18 Aug 2016 10:35:04 GMT

Thanks all. That was my thinking as well. Different strokes for different folks. He's probably benefitted from his a lot and just assumed anyone would. And trust me, he is not MY financial advisor.

Re: Do I 'need' a travel card?

ndjim75 — Thu, 18 Aug 2016 11:32:04 GMT

Sounds to me like your financial advisor is trying to rack up referral bonuses from the CCC's for himself/herself.Recommending products and services to a client that they dont need or are not in their best interest makes this advisor suspect IMHO.

Re: Do I 'need' a travel card?

Indycoltsfan — Thu, 18 Aug 2016 11:48:16 GMT

As long as you have the cards that suits YOUR needs, that is all that matters. No need to carry excess cards in order to get an occasional small bonus.

Re: Do I 'need' a travel card?

Anonymous — Thu, 18 Aug 2016 11:48:52 GMT

Appreciate that concern ndjim75, but this guy had no ties to any specific card as far as im aware.. more of a 401k guy- just going through different plan options.

Re: Do I 'need' a travel card?

kdm31091 — Thu, 18 Aug 2016 11:50:03 GMT

You aren't missing anything. You have to go with your gut and what's right for you. It will very rarely steer you wrong. You're doing fine.

True travel cards really only benefit people who travel frequently, as in many times per year, not just the occasional small trip. For long term use, frequent travelers get the most benefit out of it. Others should stick to cash back like you are, absolutely.

Ignore the advisor and keep doing what you're doing.