premium credit card annual travel credit

If you have a high end credit card like the Citi Prestige or the Platinum Card from American Express, don’t forget to use your premium credit card annual travel credit. These premium credit cards often come with high sign up bonus but unfortunately they always come with  high annual fee to match. However, a great way to offset the usual $450 annual fee for these cards is the annual travel credit.

The thing you need to know is that the annual credit is based on the calendar year, not your membership year. Which means if you apply for a premium credit card towards the end of the year, you get to claim the annual travel credit twice in a short period of time. Even tho you have to pay the $450 annual fee on your first statement, the annual credit usually offsets most of the annual fee if not more when claimed twice (once for the first calendar year and another time as soon as January of the following year).

Don’t forget to use your annual travel credit from these cards before the end of the year

Chase Sapphire Reserve:

  • Offers $300 travel credit
  • Applied automatically to your statement
  • Applies to all travel purchases

premium credit card annual travel credit

Citi Prestige Card:

  • Offers $250 travel credit
  • Applied automatically to your statement
  • Applies to airfare, baggage fees, lounge access, inflight purchases

premium credit card annual travel credit

Platinum Card from American Express:

  • Offers $200 travel credit
  • Applies automatically to your statement after selecting a qualifying airline
  • Baggage fees, lounge access/membership, seat upgrades

American Express Premiere Rewards Gold Card: ($195 annual fee)

  • Offers $100 travel credit
  • Applies automatically to your statement after selecting a qualifying airline
  • Baggage fees, lounge access/membership, seat upgrades

premium credit card annual travel credit

Ritz Carlton Rewards Credit Card:

  • Offers $300 travel credit
  • You have to call after making an eligible purchase to apply the credit
  • Baggage fees, lounge access/membership, seat upgrades

ritz carlton credit card benefits

Keep in mind:

The terms and conditions of the above credit cards state that airline gift cards are not eligible for the credit. However, based on experience, they DO in fact work and generate the credit – I just have to say your experience may vary, try at your own risk. The only card I don’t have experience with is the Ritz Carlton credit card. I wouldn’t risk it with that card especially that you have to call in for the credit.

 

Bottom Line:

Premium credit cards come with a high annual fee that usually turns away people from applying. However, these premium credit cards often come with annual credits, huge signup bonuses and many benefits that offset the annual fee. If you do have one of the above premium credit cards, don’t forget to use your annual travel credit before the end of the year.

 

If you have any questions please tweet me @pointspointers or email me at pointspointers@gmail.com or comment below.

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