Top Travel Credit Cards with Annual Statement Credits

Premium travel rewards credit cards are known among savvy travelers for their appealing introductory offers and the initial waiver of annual fees. These cards can offer a practical tool to help offset the rising travel expenses resulting from inflation.

Along with initial introductory bonuses, good travel credit cards also offer continuous ongoing travel benefits, which can include:

· Airport lounge access.

· Statement credit for Global Entry or TSA PreCheck fees.

· Loyalty program upgrades.

· Travel insurance perks.

· Annual statement credits for travel purchases.

One of the most valuable perks of rewards travel credit cards can be an annual statement credit for travel costs. These statement credits can help frequent flyers looking to cover expenses such as stays that are not covered by card perks and loyalty program memberships.

What Are Travel Statement Credits?

Travel credits associated with credit cards come in different forms depending on the rewards travel credit cards you have.

In our guide below, we will provide an overview of the best statement credit from travel credit cards and explore their flexibility in covering expenses related to hotels, flights, and other travel-related costs.

The Top Credit Cards for Annual Travel Statement Credits

There are numerous credit cards offer annual travel credits, which can be valuable in helping you to cover certain out-of-pocket expenses during your travels. Below, we will examine the top ten good travel credit cards for statement credit to help you decide on the best card option for you.

Here's a breakdown of several rewards travel credit cards with their respective annual travel credits, welcome offers, and annual fees:

American Express® Gold Card

· Annual Travel Credit: $120 in Uber Cash for U.S. services ($10 credit each month) per calendar year.

· Welcome Offer/Sign-up Bonus: 60,000 points after spending $6,000 on eligible purchases within the first six months of card membership. Terms apply.

· Annual Fee: $250 (see rates and fees).

· Earn Amex Points: 4 points per dollar spent at restaurants and at U.S. supermarkets (up to $25,000 in purchases each year. 1 point per dollar afterward). Three points per dollar on flights that are booked with Amex Travel on airlines. One point per dollar on other eligible card purchases.

· Amex Rewards Redemption: This can be transferred to a total of 21 Amex airline and hotel partners.

· Monthly Statement Credits: Enjoy up to $10 in statement credits monthly, adding up to a potential annual dining credit of up to $120, when you make payments with the Gold Card at Grubhub, The Cheesecake Factory, Shake Shack, and other select dining locations.

Bank of America® Premium Rewards® Credit Card

· Annual Travel Credit: Up to $100 in annual statement credit for airline incidental fees.

· Welcome Offer/Sign-up Bonus: 60,000 points after spending $4,000 in the first 90 days from your account opening.

· Annual Fee: $95.

· Rewards Points: Earn 2 points for each dollar spent on travel and dining and 1.5 points for each dollar you spend on all other purchases.

· Increase Rewards Value: Enhanced rewards can be obtained through the Preferred Rewards program, which increases your earnings from 25% to 75%, based on your deposits with Bank of America and Merrill.

· Redeeming Rewards Points: Various redemption options such as statement credits, gift cards, purchases through the Bank of America Travel Center, or as a deposit into a Bank of America account, all valued at 1 cent per point.

· Extra Benefits: This card does not charge foreign exchange fees and offers reimbursement for a Global Entry or TSA PreCheck application fee up to a maximum of $100 every four years.

Bank of America Premium Rewards Elite Card

· Annual Travel Credit: Up to $300 statement credit for airline incidental fees.

· Welcome Offer/Sign-up Bonus: 75,000 points after you have spent $5,000 in the first three months from account opening.

· Annual Fee: $550.

· Earning Rewards Points: Cardholders earn 2 points for every dollar spent on their card for travel and dining and 1.5 points for each dollar spent on all other purchases.

· Increase Your Points Value: As a Preferred Rewards member, you have the opportunity to earn an additional 25% to 75% bonus points on your purchases, depending on the extent of your deposits with Bank of America and Merrill.

· Points Redemption: Your options include statement credits, gift cards, purchases through the Bank of America Travel Center, or as a deposit into a Bank of America account, all at a rate of 1 cent per point.

· Additional Benefits: Cardholders also benefit from a 20% discount when using points to pay for airfare through the Travel Center. Additionally, the card provides reimbursement of up to $100 for Global Entry or TSA PreCheck application fees once every four years.

The Business Platinum Card® from American Express

· Annual Travel Credit:$200 in statement credits for incidental fees on one selected airline per calendar year.

· Welcome Offer/Sign-up Bonus: 120,000 welcome bonus points after you spend $15,000 within three months of your account opening.

· Annual Fee: $695 (see rates and fees).

· Annual Travel and Dining Credits: Cardholders can enjoy over $1,200 in annual credits for business and travel-related expenses with partners like Dell, Adobe, and Clear.

· Earn Rewards Points: The card allows cardholders to earn 1.5 points for every dollar they spend on eligible purchases within specific business categories and eligible purchases of $5,000 or more, with an annual cap of $2 million on these purchases.

· Increase Redemption Value: cardholders receive a 35% points rebate when redeeming for airfare through Amex Travel, with a maximum of 1 million points per calendar year. This rebate is applicable when booking airfare on their chosen qualifying airline or for business or first-class tickets on any airline.

Capital One Venture X Rewards Credit Card

· Annual Travel Credit: $300 in credits for flights, rental cars, or hotels booked through the Capital One Travel portal.

· Welcome Offer/Sign-up Bonus: 75,000 bonus miles after you spend $4,000 on purchases in the first three months from opening your account.

· Annual Fee: $395 (see rates and fees).

· Earning Venture Points Rewards: 10 miles for every dollar spent on hotel and car rental bookings on Capital One Travel. You can also earn 5 miles for each dollar you spend on flights booked through Capital One Travel. 2 miles per dollar rewards on all other eligible purchases.

· Redeeming Your Rewards Points: Capital One miles are transferable to 18 airline and hotel loyalty programs, including Air Canada Aeroplan, British Airways Executive Club, and Turkish Airlines Miles&Smiles.

· Additional Benefits: Unlimited access to Capital One and Priority Pass lounges, a statement credit for Global Entry or TSA PreCheck, the ability to add up to four authorized users and share lounge benefits with no added costs, and an anniversary bonus of 10,000 bonus miles, among other perks.

Chase Sapphire Reserve

· Annual Travel Credit: Up to $300 for general travel.

· Welcome Offer/Sign-up Bonus: 60,000 points after you have spent $4,000 on card purchases in the first three months from opening your account.

· Annual Fee: $550.

· Chase Reward Points: Cardholders can benefit from an earning rate of 3 points for each dollar spent on travel and dining worldwide, with no limits.

· Redeeming Chase Rewards: The earned Ultimate Rewards points are transferable to 11 airline partners, including Southwest and Air Canada, and three hotel partners, such as Hyatt, IHG, and Marriott. Additionally, points can be redeemed directly through the Chase travel portal at a 1.5 cents value per point.

· Extra Travel Benefits: Cardholders have the privilege of accessing Priority Pass lounges and are eligible for reimbursement of up to $100 once every four years for an application fee related to Nexus, Global Entry, or TSA PreCheck.

Hilton Honors American Express Aspire Card

· Annual Travel Credit: Up to $250 on Hilton purchases and up to $250 on airline fees. Enrollment is required for select benefits.

· Welcome Offer/Sign-up Bonus: 150,000 points after you spend $4,000 in the first three months of card membership. Terms apply.

· Annual Fee: $450 (see rates and fees).

· Earn Hilton Rewards Points: 14 points for every dollar spent on Hilton purchases, 7 points per dollar on flights booked through Amex Travel or directly with airlines, car rentals, and dining at U.S. restaurants, and 3 points per dollar on all other purchases.

· Access Elite Status: Cardholders enjoy automatic top-tier Hilton Honors Diamond status, ensuring a range of exclusive benefits.

· Additional Credits: The card provides an annual free weekend night award and grants access to Priority Pass Select lounges. As well as $100 in credits for qualifying charges at participating Waldorf Astoria Hotels & Resorts and Conrad Hotels & Resorts when booking two-night-minimum stays via hiltonhonorsaspirecard.com.

The Platinum Card® from American Express

· Annual Travel Credit: $200 in statement credits for airline incidentals and $200 in Uber Cash for U.S. services per calendar year. Cardholders also enjoy up to $200 in annual credits for eligible hotel bookings, as well as up to $200 in annual Uber credits.

· Welcome Offer/Sign-up Bonus: 80,000 points after spending $8,000 in the first six months of card membership.

· Annual Fee: $695 (see rates and fees).

· Earning Amex Points: Earn 5 points for every dollar spent on airfare booked directly with an airline or through American Express Travel and on prepaid hotels booked using American Express Travel (on purchases up to $500,000 per calendar year).

· Transferring Amex Rewards: Accumulate Membership Rewards points that are transferable to 21 airline and hotel partners.

· Additional Benefits: Receive reimbursement for your annual Clear membership fee and a statement credit for a Global Entry or TSA PreCheck fee every 4.5 years. The card offers access to Centurion Lounges and provides Priority Pass lounge access, along with Delta Sky Club access when traveling on a same-day Delta flight.

· Elite Status: When booking hotel stays through Amex Fine Hotels + Resorts, cardholders can enjoy value-added benefits. They also receive Gold status with Hilton Honors and Gold Elite status with Marriott.

Altitude Reserve Visa Infinite Card

· Annual Travel Credit: Up to $325 for general travel expenses.

· Welcome Offer/Sign-up Bonus: New cardholders are eligible for a welcome bonus of 50,000 points after spending $4,500 in the initial 90 days from the account opening.

· Annual Fee: $400.

· Earning Rewards Points: Earn 5 points for every dollar spent on prepaid hotel bookings made via the Altitude Rewards Center. Gain 3 points for every dollar spent on travel and mobile wallet purchases. You can also earn 1 point for every dollar spent on all other purchases.

· Redeeming Card Rewards: Points can be redeemed at a rate of 1.5 cents each when booking airfare, hotels, and car rentals through the Altitude Rewards Center, with lower values for other types of purchases.

· Additional Benefits: Cardholders are granted a 12-month Priority Pass Select membership, providing access to airport lounges. They also enjoy statement credit reimbursement for a Glob l Entry or TSA PreCheck application fees. The card also has no foreign transaction fees.

Please note that these details may change, and terms and conditions apply, so it's essential to check the most up-to-date information before applying for any of these credit cards.

Takeaway - Using Credit Cards with Travel Statement Credits

Premium travel rewards credit cards with annual travel statement credits can be valuable tools for frequent travelers looking to maximize their rewards and offset travel costs. While they often have higher annual fees compared to standard rewards cards, the benefits can outweigh the cost, especially if you travel often.

These cards offer a variety of perks beyond just statement credits, including airport lounge access, travel insurance coverage, and enrollment in loyalty programs with elite status. Some cards offer more flexibility in how you can use the statement credit, allowing you to cover a wider range of travel expenses.

Pro Tip: Carefully consider your travel habits and spending patterns before applying for a card with an annual travel credit. Opt for a card that offers statement credits that align with your typical travel expenses to maximize the value you receive.

By choosing the right card and using it strategically, you can significantly reduce your travel costs and elevate your travel experience.