Due to global turmoil and ongoing economic instability, 2023 will likely be off to a shaky start. Yet people continue to travel and see as much of the world as possible. Travel credit cards continue to be a key asset for travel hackers to minimize expenses and enhance the travel experience.

Whether you are evaluating your current credit card portfolio or looking to add a new card to your wallet, here you go. Here are five benefits to watch in 2023:

Category Bonus

Between high inflation and a shortage of global supply chains, prices are getting higher by the day. It's not just about gas bills. Everything from food to clothing has gone up in price since last year. You can't control inflation or rising costs, but you can maximize your return on these spending categories.

The right credit card line-up can help you earn more rewards in high-spend categories like groceries, meals, and gas. Some credit cards give you 1 point for every regular dollar spent. Add him one of these cards to your wallet and you can make lemonade out of lemons in a stressed economy.

If you don't want to keep track of multiple credit card bonus categories, consider a card that offers: A constant high rate of return on all expenditures. For example, American Express' Blue Business® Plus credit card has no annual fee and offers double membership rewards (up to $50,000 annually) on all spend.

Insurance

In an increasingly unpredictable world, travel insurance is more important than ever. Although coverage is limited, many credit cards offer travel insurance that can save you money and reduce stress in difficult situations.

Primary Rental Compensation

Two years ago, I was involved in a minor fender bender while driving a rental car. It was pitch black, so I skimmed the metal partition as I turned left. Five months later, he received a $3,600 bill from the car rental company. Ah. Luckily, it cost him only $400 and he didn't have to involve his insurance company. This is because I had rental collision coverage for the American Express® Gold Card. Indeed, I paid $14.99 for primary coverage through his Amex Premium Car Rental Protection program. Still, the insurance saved him over $3,200 and cost him more.

Primary rental insurance can be very beneficial if you are involved in an accident. Many credit cards offer the following benefits as card rewards:

• Chase Sapphire Reserve®
• Chase Sapphire Preferred® Card
• Capital One Venture X
• Ink Business Preferred® Credit Card

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Travel Interruption

Travel interruption insurance gives you peace of mind when you book an expensive trip. Tripping and unable to complete. Many credit cards offer travel interruption coverage, which allows you to get a refund for unused travel.

For example, let's say you flew to Miami for a Caribbean cruise, but got sick before boarding the ship. Travel interruption insurance covers unused, prepaid and non-refundable travel expenses, such as cruise costs and return flight costs.

Many travel reward cards include travel interruption coverage when billing travel. credit card. This great benefit can save you thousands of dollars in an emergency. Not to mention the cost of purchasing an insurance policy.

The American Express Platinum Card® provides travel cancellation/interruption insurance up to $10,000 per person (up to $20,000 per trip). If your trip is canceled for a covered reason, Chase will refund your non-refundable travel expenses. This is useful if you test positive for COVID-19 and cannot travel.

Please familiarize yourself with the warranty limitations described in your credit card policy to determine if it makes sense to purchase additional coverage. In most cases, what your credit card provides is sufficient.

Lost or Delayed Package Insurance

Every year, thousands of packages are lost or mishandled. Luggage is unlikely to be lost, but if it is, it can put a damper on your trip. Luckily, many credit cards offer refunds for delayed and lost bags. Simply charge your flight to one of these cards to claim a refund if your luggage is lost or delayed.

• Chase Sapphire Preferred, Chase Sapphire Reserve, and Ink Business Preferred: Up to $3,000 per person per trip and up to $100 per day for up to 5 days for lost, damaged or stolen packages Baggage Delay Cover
• United℠ Explorer Card* and United Club℠ Infinite Card*: Maximum per person $3,000 per trip for lost, damaged or stolen, and delayed luggage up to $100 per day, up to 3 days
• <Amex Platinum and Business Platinum Card® from American Express: Up to $3,000 for carry-on baggage and $2,000 for checked baggage per person per trip In case of loss or damage
• Capital One Venture Rewards credit card: up to $3,000 per person for lost or damaged luggage
• American Express Gold and American Express ® Business Gold Card: Carry-on baggage up to $1,250 per person per trip and checked baggage up to $500 in case of loss or damage
• Bank of America® Premium Rewards® Card: Baggage Delay Coverage up to $100 per day for up to 5 days and up to $3,000 per trip for lost luggage

Recurring Rewards

This year is the year to check your credit card inventory to make sure it's working. If you're paying an annual fee, look for a card with recurring perks. With free nights, waived baggage fees, elite status benefits and more, these benefits can offset your annual fee and make your trip more enjoyable.

Free Yearly Nights

One free yearly night. The best perks you can get with a Travelcard.

• Hilton Honors American Express Aspire Credit Card*
• IHG® Rewards Club Premier Credit Card*
  • Hilton Honors American Express Aspire Credit Card *
  • IHG® Rewards Club Premier Credit Card*
  • Marriott Bonvoy Boundless® Credit Card
  • World of Hyatt credit card*

  Last year I used a free Hyatt night at the Park Hyatt Istanbul and the room was over $250 a night. Needless to say, I was happy to pay the card's $95 annual fee in exchange for this useful perk. The property has since been upgraded to Category 5. So the free nights are no longer valid, but they were very valuable at the time.

  Lounge Access

  Airports are getting busier and food is getting more expensive. Lounge access is a great way to keep costs down and doesn't have to be very expensive.Yes, credit cards that offer lounge access tend to have high annual fees, but This is worth it if you take full advantage of this perk.

  Elite Status

  We spend minimally on our Hilton Honors Amex Aspire Card, but we keep renewing it every year. That's because the card's Hilton Diamond benefits easily offset the $450 annual fee. Recurring card benefits like elite status can save you a lot of money on travel and are worth considering when purchasing a new credit card.

  No Fees

  Contrary to what your favorite travel bloggers like to say, travel is never free, even if you're using points or miles . You have to contend with resort fees, baggage fees, and awards taxes. Using your card abroad may incur international transaction fees. When purchasing a new credit card, look for a card that waives transportation fees.

  While many travel cards waive foreign transaction fees, some like Chase Freedom Unlimited® still do not. With the right card, you can save 3% on fees every time you use your credit card abroad.

  Baggage fee waivers are another recurring benefit that can offset the card's annual fee. Most domestic airlines charge around $30 per checked bag, with higher charges for the second and his third bag. On the other hand, airline credit cards, such as the Citi®/AAdvantage® Platinum Select® World Elite Mastercard®*, charge the first checked baggage fee for both the primary cardholder and up to four companions traveling on the same itinerary. is exempt. This saves you up to $150 per flight, over the $99 annual fee for the card.

  Trusted Traveler Programs

  Trusted Traveler programs like Global Entry and TSA PreCheck make airport security and customs clearance fast and convenient. Membership in these programs is affordable from the start. However, if you use the right credit card, you can get the application fee waived. Global Entry and TSA fee credits were previously limited to premium cards with high annual fees. That is no longer the case. These days, low-fee cards like Capital One Venture Rewards and Bank of America Premium Rewards offer these credits every four years.

  Conclusion

  Travelers expect higher prices and economic uncertainty in 2023 is severe, but with the right credit card strategy, everyone will weather the storm can do. Now is a good time to re-evaluate your current credit card line-up or consider adding a new card to your wallet to better position yourself.

  *Hilton Honors American Express Aspire Credit Card, IHG® Rewards Club Premier Credit Card, All World of Hyatt Credit Card Information, Citi®/AAdvantage® Platinum Select® World Elite Mastercard®, United℠ Explorer Card, and the United Club℠ Infinite Card are independently collected by Bankrate and have not been reviewed or approved by the issuer.