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A travel rewards credit card may be worth its annual fee if you travel frequently and use it often enough to qualify for rewards and frequent flyer program elite status.
In 2023, U.S. travel has rebounded, with 54% of Americans valuing travel more than ever. A travel rewards credit card might be beneficial for frequent travelers who can earn points or miles for travel-related expenses. These cards offer perks like airport lounge access and free checked bags, but choosing the right one requires a cost-benefit analysis considering annual fees and interest rates. Travel cards are optimal for frequent travelers, business owners, and consumers who pay off balances monthly to avoid high interest. Evaluating the card's reward potential against your travel habits, reading all terms regarding redemption limitations, and considering any sign-up bonuses and spending requirements is critical. Recognize whether the travel rewards justify card costs and match your financial habits.