3 Reasons Now is the Perfect Time to Open a Travel Credit Card

TORONTO, February 3, 2021 (Newswire.com) - COVID-19 vaccine distribution has been underway for about a month, meaning we're getting closer to some semblance of normalcy, especially when it comes to travel. With that said, many Canadians still won't be getting on a plane anytime soon, but there may be no better time to consider a new travel credit card. After all, travel cards are really about longevity.

Just be mindful when you're searching for a travel credit card that many Canadian credit cards have foreign transaction fees. Finding credit cards with no foreign transaction fees is a key factor in finding the right Canadian travel credit card, as even small fees can add up quickly when attached to every transaction abroad.

Here are three reasons why now is the perfect time to open a new travel card.

1. Take advantage of good welcome offers

Credit card issuers have been in ongoing battles for gaining customers, and their welcome bonuses are a common tool to make their credit cards more attractive for new prospective cardholders. Many of these offers have been at an all-time high since the start of the pandemic. Welcome offers can be worth tens of thousands of points and generally kick in after your first purchase or after spending a certain amount within the first few months of account opening.

These offers can be unpredictable, and with the market for travel cards uncertain, this is a great time to take advantage of the best welcome offers out there while they're still available.

2. Rack up points now for your next trip

A big mistake many people make when opening a travel card is looking for instant gratification. Often, it can take several months just to earn your welcome bonus and, even then, you may not have enough to fund the entire price of a flight — or you may find yourself considering a closer destination just to match your point redemption options.

Giving yourself a longer period of time to earn points now will likely give you a sufficient number of points for your summer vacation or holiday travel.

3. Give yourself something to look forward to

We've all been cooped up in the house more than we expected the past 11 months, with little to anticipate but the next Zoom call or homemade loaf of bread. Beyond the potential financial benefits that could come with a new travel credit card, you also may be able to help give yourself a little mental health boost by planning a trip to look forward to down the road.

The light at the end of the tunnel is near and the longer you wait to pull the trigger on booking something, the better position you'll be in with points or miles when it finally feels safe to fly to the destinations you've been itching to check out during this lengthy cabin fever.

Source: iQuanti, Inc.