Unassessed Benefits of Travel Cards: Their Real Value Might Surprise You

In the world of travel credit cards, changes are afoot that may impact the value and benefits you receive. Here's a breakdown of some key updates and developments.

The Platinum Card® from American Express to Charge for Guest Access to Lounges

Starting February 2023, The Platinum Card® from American Express will no longer offer complimentary guest access to its lounge network. Adult guests will now be required to pay a fee to enter, with exceptions for those who have spent $75,000 in the previous calendar year.

Hotel Credit Cards Still Worth the Investment

Despite the challenges in using free night certificates, hotel credit cards can still provide significant value. The key is understanding the terms and conditions, such as dynamic pricing, which can make the number of points needed for a free room subject to fluctuation.

Airport Perks Galore

Travel credit cards offer a host of perks designed to make your journey smoother. These can include airport lounge access, free hotel rooms, and more. However, it's important to note that some benefits, such as lounge access, may no longer be as luxurious or easy to use as they appear, due to increasing popularity and capacity controls.

Rental Car Insurance: A Valuable Benefit

Rental car insurance from a credit card can be a valuable benefit, offering coverage if the vehicle is damaged or stolen. However, it's worth noting that this coverage is often secondary to your personal auto insurance, meaning it can't be tapped until after your insurer covers costs.

Screening Programs: A Boon for Frequent Travelers

Travel credit cards may offer a statement credit for the application or renewal fees for airport screening programs like TSA PreCheck, Global Entry, or CLEAR+®. These programs can help you skip lines at the airport, making your journey faster and more efficient.

TSA PreCheck: What You Need to Know

TSA PreCheck requires a background check, biometrics, and an interview with a U.S. Customs and Border Protection officer. Applications may take several months for approval.

Global Entry: A Comprehensive Program

Global Entry offers similar benefits to TSA PreCheck, but also includes expedited customs processing for international travel. However, applications can also take several months for approval.

CLEAR+®: A Shorter Line, Fewer Locations

CLEAR+® allows you to skip the review of travel documents before entering a security line, but it has fewer locations than TSA PreCheck or Global Entry programs.

Free Hotel Night Certificates: Proceed with Caution

The free hotel night certificate offered by some credit cards can be a valuable benefit, but it's important to understand the limits and potential increased costs. Some hotel brands have imposed caps on these certificates, and some have increased their cost by allowing them to be topped up with points.

In Summary

As the travel industry continues to evolve, it's important to stay informed about changes to the benefits offered by travel credit cards. The annual fee of these cards is often correlated with the length of the list of benefits, but it's essential to weigh the value of these benefits against the cost. Happy travels!