It’s time to plan your holiday travel. That may mean cashing in the travel rewards you’ve accumulated on credit cards — or it may mean starting to use a travel rewards credit card. Chances are you spend money on some necessities, and when you do, tailoring the rewards you receive to your travel needs could end up financially benefiting you and your family even more than a cash back credit card might. Keep in mind, of course, that increasing your spending just to earn rewards doesn’t make sense, and it would be worse if you had to pay interest on your balances.

When you have controlled spending that you can afford, and you pay your credit card bill in full and on time every month, you can offset your costs of travel by earning rewards. Using the travel rewards credit card that best matches your travel needs for the spending you would be doing anyway could save you hundreds or thousands of dollars over the course of a lifetime. For example, some cards offer free flights and hotels while others can soften the blow of foreign transaction fees.

Listed below are the best travel rewards credit cards available today. If you’ve got a card you think deserves to be on this list, let us know and we’ll add it.

Editor’s choice

Chase Sapphire℠ Preferred Card. The Chase Sapphire℠ Preferred Card offers a bonus if you spend at least $3,000 on the card in the first three months. That reward comes in the form of 40,000 bonus points, which can be redeemed for $500 in travel booked through Ultimate Rewards. When you book through Ultimate Rewards you can get 20% off airfare, hotels, car rentals and cruises. Additionally, you can earn double rewards on travel and dining purchases. The Chase Sapphire℠ Preferred Card carries no annual fee for the first year, $95 thereafter. There are no blackout dates or restrictions of any kind when using your rewards points.

For more about the Chase Sapphire℠ Preferred Card 40,000 bonus points introductory offer, visit my Chase Sapphire℠ Preferred Card Earn 40,000 bonus points review.

Miles by Discover® Card. The Miles by Discover Card offers the opportunity to earn 12,000 bonus miles during the first year you own the card. The card provides 1,000 miles for each month you make at least one purchase. You can earn double miles on your first $3,000 in combined travel and restaurant purchases each year and one mile on all other purchases. Unlike many travel rewards credit cards, the Miles by Discover Card carries no annual fee for the life of the card and has an introductory offer of 0% APR on purchases and balance transfers for up to six months.

Starwood Preferred Guest® Credit Card from American Express. The Starwood Preferred Guest Credit Card from American Express continues to be one of the best travel rewards credit cards you can find. 25,000 bonus Starpoints can be yours in two easy steps. First, you earn 10,000 bonus points after making your first purchase, then 15,000 more bonus points can be earned if you spend $5,000 on your new card in the first six months, which is enough for a six night stay at a category 1 or 2 hotel.

With this card you can earn up to 5 Starpoints at hotels and resorts participating in the Starwood Preferred Guest program. When redeeming your points you can select from over 1,000 hotels and resorts in nearly 100 countries and for flights on more than 350 airlines, all with no blackout dates*. The Starwood Preferred Guest Credit Card from American Express carries no annual fee for the first year, $65 thereafter.

American Express® Premier Rewards Gold Card. The American Express® Premier Rewards Gold Card offers 25,000 points when you spend at least $2,000 in the first three months. You can earn membership points three times as fast when you book airfare using this card and twice as fast when you purchase gas or groceries. The American Express® Premier Rewards Gold Card carries no annual fee for the first year, $175 thereafter.

PenFed Premium Travel Rewards American Express® Card. The PenFed Travel Rewards American Express Card is like no other in terms of rewards, offering consumers 5 points for every dollar spent on airfare. If you spend at least $650 within the first three months of card ownership, you’ll receive 20,000 points, enough for $250 toward a round-trip ticket. At least one reward point per dollar will be earned on all other purchases. The PenFed Premium Travel Rewards American Express® Card does not have an annual fee. There is an introductory APR of 4.99% on balance transfers made between April 1, 2012 through June 30, 2012, and there is no balance transfer fee on transfers made between April 1, 2012 through June 30, 2012. However transfers made after that time will cost a relatively low 3% balance transfer fee with a minimum of $10 and a maximum of $250. You must be a PenFed member to be approved for this card, but if you are not associated with the military, the American Red Cross, or any number of qualifying organizations, a one-time $15 or $20 membership donation will do the trick.

Capital One® Venture Rewards Credit Card. You earn 10,000 bonus miles on your Capital One Venture Rewards Credit Card after you spend $1,000 in the first three months of owning your card. You can earn double miles on every purchase, making this card one of the best travel rewards credit cards available today. The Capital One Venture Rewards Credit Card carries no annual fee for the first year, $59 thereafter, and Capital One is the only issuer that does not charge foreign transaction fees for any of their cards. This means if you spend money on international purchases, you won’t receive the typical 1% to 3% fee.

Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

Photo: Kossy@FINEDAYS

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