Thailand business

My annual credit card bonus bill is almost $4,000, but I’d consider it if a new card offered five fantasy benefits.

  • Even yet, I’m envious of my amenities, such as worldwide rental car liability insurance and missed flight protection.
  • In my opinion, the Chase Sapphire Reserve® is the best travel rewards credit card, but it would be even better if it had one of these magical perks.

At least half a dozen of my bank cards give me benefits like reimbursement for Global Entry or TSA PreCheck application fees every four years, Priority Pass Select membership that gives me access to more than 1,200 airport lounges worldwide, and insurance against lost or stolen luggage.

I’m ready to pay more than $4,000 a year for these benefits since they are essential to me.

That doesn’t imply that I don’t wish I had more credit cards because I do. Many banks are reducing (or eliminating) fundamental advantages, so it may not be reasonable to expect card issuers to offer their benefits. I should point out that card benefits may differ between keeping or canceling a card.

Keep in mind that the advantages and benefits of these credit cards much outweigh any unfavorable characteristics, such as high-interest rates and late fees, while analyzing them.

It’s vital to have solid money management skills while attempting to earn credit card rewards, such as paying off your monthly payments in full, paying your bills on time, and staying within your budget. Approach your credit card like a debit card while using it.

As a credit cardholder, the following qualities would be desirable to me:

1. Liability insurance for car rentals all around the world.

A supplementary level of comprehensive and collision coverage is included with most premium and travel credit cards for use on rental cars. Because it’s my go-to travel card, the Chase Sapphire Preferred, and the Chase Sapphire Reserve comes with primary insurance coverage. What am I overlooking? Protection against third-party lawsuits.

It is mandatory in several countries, including Costa Rica, Mexico, and others, to purchase liability insurance at the rental counter. And that’s when things become a little trickier for overseas renters. If credit card liability insurance were accessible at the rental counter, that would be a huge game-changer.

2. Travel insurance for flight cancellations.

In the past, airlines were willing to make exceptions for customers running late for reasons beyond their control. If you have a flat tire on your vacation, they’ll usually take care of you for the next two hours, according to the balanced tire rule. Your airline will put you on standby, hoping that your name will be called for the next available departure.

With the establishment of the basic economy, those days are long gone. Missing your flight means paying a steep walk-up charge if you still want to travel (if one is even available). If your inbound flight is delayed, the worst-case situation is that you’ll miss your onward connection if you’re traveling separately.

Credit card travel interruption insurance doesn’t cover this kind of situation. This is the payment card I’ll use if my flight is delayed or canceled.

3. Over-the-counter no-fee cash advances for foreign currencies.

I look forward to the long overdue “hack” of credit card companies. For example, ATM fees in Thailand may cost upwards of $6, and the transaction amounts are purposefully low so that you rack up a lot of costs for each transaction. This isn’t always the most excellent answer, even with my favorite Charles Schwab debit card, which reimburses ATM fees!

Using a credit card to withdraw cash from a bank branch incurs no local transaction fees. Because of this, your bank will charge you exorbitant fees for the privilege of doing business with them (typically a hefty transaction fee, plus a percentage of the transaction, plus an eye-popping interest rate that starts the day you take the advance).

To save money in the long term, even if I would only use this service once or twice a year, I would place the credit card that permitted me to do so on top of my wallet when I went abroad. Even if I lose or have my debit card consumed by an ATM, I can still use this if there are no ATMs that take my debit card in town.

4. Google-powered tourism website

Rewards credit cards sometimes use third-party travel partners that promote a limited selection, higher fees, and stricter restrictions than you’d find elsewhere online. Since Google does a better job than any credit card company at finding good deals on flights and hotels, it makes sense for them to team up with Google. There is no such thing as “1.5 cents per point in value” if everything costs 10 to 50 percent more.

The reversal of the currency rip-off is dynamic.

Avoid “dynamic currency conversion” while using your credit card to make purchases outside your own country. Your credit card will be charged in U.S. dollars at a bad conversion rate rather than the local currency. If a dynamic currency conversion scam has cheated you, you will get your money back quickly.

A new credit card’s unique benefits are a complete fabrication. Banks and credit card companies are increasingly looking to diminish rather than expand their advantages to remain competitive. Smaller financial institutions have the opportunity to break into the market and offer services that are superior to their larger competitors.