Travel rewards programs suffered major cutbacks in 2010 as credit issuers faced a slew of new federal regulations, lower profits, and customers who were reigning in credit card spending. As a result, many cardholders, including myself, began ditching their travel rewards cards for those that offered cash back at a fixed percentage. And while I certainly love getting a fat cash rebate check at the end of the year, there's just something extra special about hopping on a flight to the other side of the world for free. It makes vacationing all the better! I miss that, and I'm sure others do too.
In fact, I think there are still a lot of travel rewards card lovers out there. We're just sitting on the fence waiting for the right card to come along. And while 2010 wasn't a great year at all, there was one new travel card that certainly stood out above the rest—the Capital One Venture Card. The Venture card combines total flexibility and a low annual fee with the ability to rack up loads of miles that never expire. The first thing I love about this card is there are no foreign transaction fees. If you travel a lot, I'm sure that's important to you too. It's one of the main reasons why I've always kept a Capital One card in my wallet— none of their cards have foreign transaction fees. And although the Venture card does have a $59 annual fee, it's waived for the first year, so you can take the opportunity to test the card out and see if it's a good fit before coughing up an annual fee. That's a nice perk.
Cardholders also earn double miles on every purchase with absolutely no caps or expiration dates. Likewise, your miles can be redeemed for any travel expense on any airline. You can't get any more flexible than that! To get your foot in the door, Capital One will even spot you 10,000 bonus miles if you spend $1,000 during the first three months. So, if you're contemplating a leap back into the realm of travel rewards credit cards, you may want to give the Capital One Venture Card a try in 2011. And if you're already using it, leave your thoughts about its pros and cons in the comment section below. We'd love to hear your feedback. Happy New Year!
