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The best travel credit cards are rich in benefits, ranging from airport lounge access to elite status to solid earnings rates across travel purchases. And, in most cases, these generous perks command a large annual fee, sometimes topping $500. However, in practice, the high annual fees of many top travel cards aren’t really that high. Why? They also include easy-to-use annual travel credits.
In fact, most premium travel credit cards nowadays offer yearly credits on airfare, airline incidentals, rideshare services, and more, all of which are reimbursed as statement credits. Subtract these annual travel credits from annual fees, and you’ll be surprised at the numbers. Many are on par with low-fee travel cards considered within easier reach.
This simple math doesn’t even account for the tremendous value of other card benefits like free award nights, lounge access, nontravel credits, or Global Entry credits, among others. Nor does it factor in attractive welcome offers that help sweeten the deal in year one of credit card membership. It’s strictly the cash value of fees versus credits.
Here, we break down that math on eight premium travel credit cards where travel credits offer heavy discounts on annual fees, in many cases reducing the annual fees to $95 or less.
1. Southwest Rapid Rewards® Priority Credit Card
Best for: The Southwest Rapid Rewards® Priority Credit Card is best for those who fly Southwest as their preferred airline.
Annual travel credits: $75 Southwest travel credit per year.
Annual fee before credits: $149
Annual fee after credits: $74
Current welcome offer: Earn 85,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.
2. The Platinum Card® from American Express
Best for: The Platinum Card® from American Express is best for frequent fliers and global travelers looking for a perk-heavy travel credit card.
Annual travel credits: Up to $789 every calendar year; up to $200 Hotel Credit (given in statement credits) on prepaid Fine Hotels + Resorts or the Hotel Collection bookings (requires a minimum two-night stay) with American Express Travel, up to $200 airline fee credits for incidentals on one selected airline (given in statement credits), up to $200 Uber Cash (divided among monthly increments), and up to $199 Clear Plus Credit. Enrollment required.
Annual fee before credits: $695 (see rates and fees)
Annual fee after credits: -$94
Current welcome offer: Earn 80,000 Membership Rewards Points after spending $8,000 in the first six months from account opening.
3. World of Hyatt Business Credit Card
Best for: The World of Hyatt Business Credit Card is best for travelers who frequent properties within the Hyatt portfolio.
Annual travel credits: Up to $100 in Hyatt statement credits. Spend $50 or more at any Hyatt property and earn $50 statement credits up to two times every year of card membership.
Annual fee before credits: $199
Annual fee after credits: $99
Current welcome offer: Earn up to 60,000 bonus points after spending $5,000 within the first three months from account opening.
4. Capital One Venture X Rewards Credit Card
Best for: The Capital One Venture X Rewards Credit Card is best for those looking for a general travel card with solid earnings rates.
Annual travel credits: $300 on travel when booking through Capital One Travel.
Annual fee before credits: $395
Annual fee after credits: $95
Current welcome offer: Earn 75,000 bonus miles after spending $4,000 in the first three months from account opening.
5. United Quest℠ Card
Best for: The United Quest℠ Card is best for fliers who use United as their preferred carrier.
Annual travel credits: $125 credit on United purchases annually. (Terms apply.)
Annual fee before credits: $250
Annual fee after credits: $125
Current welcome offer: Earn 60,000 bonus miles and 500 Premier qualifying points after spending $4,000 in the first three months from account opening.
6. American Express® Gold Card
Best for: The American Express® Gold Card is best for those looking for a general travel card with solid earnings rates.
Annual travel credits: $120 Uber Cash every calendar year (divided among monthly increments). You must have downloaded the latest version of the Uber App and your eligible American Express Gold Card must be a method of payment in your Uber account. This benefit may only be used in United States.
Annual fee before credits: $325 (see rates and fees)
Annual fee after credits: $130
Current welcome offer: Earn 90,000 Membership Rewards Points after spending $6,000 in the first six months from account opening and Receive 20% Back in Statement Credits on eligible purchases made at restaurants worldwide within the first 6 months of card membership, up to $100 back.
7. Marriott Bonvoy Brilliant® American Express® Card
Best for: The Marriott Bonvoy Brilliant® American Express® Card is best for those who frequent properties within the Marriott portfolio.
Annual travel credits: Up to $400 every calendar year; up to $300 in statement credits each year (up to $25 per month) for eligible purchases at restaurants worldwide, and up to a $100 property credit for qualifying charges at The Ritz-Carlton or St. Regis when you book direct using a special rate for a two-night minimum stay using your card.
Annual fee before credits: $650 (see rates and fees)
Annual fee after credits: $250
Current welcome offer: Earn 95,000 Marriott Bonvoy bonus points after $6,000 in purchases within the first six months of card membership.
8. Chase Sapphire Reserve®
Best for: The Chase Sapphire Reserve® is best for people looking for a general travel card with strong, implicit travel insurances.
Annual travel credits: Up to $300 for travel purchases charged to your card each year of card membership.
Annual fee before credits: $550
Annual fee after credits: $250
Current welcome offer: Earn 60,000 bonus points after spending $4,000 in the first three months from account opening.
Takeaways
If you are looking for a travel credit card but have always dismissed ones with high annual fees, it’s time to reconsider. Follow some simple math to discover that, after annual credits, the fees of top cards are essentially on par with those in low- and mid-fee range. Even better is that you’ll get to enjoy the various perks and benefits of these premium cards, from airport lounge access to automatic elite status with specific hotel brands.
This article was most recently updated on June 18, 2024. While the offers mentioned above are accurate at the time of publication, they are subject to change at any time, and may have changed or may no longer be available.
