Find a More Flexible Travel Credit Card

Say you want to book rewards travel to Europe: With transferable points, you could choose the airline with the best availability, point value, and route options. But there are downsides: You may lose airline-specific perks, such as being able to check a free bag. And you’ll also lose access to the airline’s lounge if your co-branded card grants you that.

For those just getting into the travel rewards game, Horbrook recommends the Chase Sapphire Preferred card, which carries a $95 annual fee but an impressive 60,000-point sign-up bonus that you can use with 14 airline and hotel partners. With this card, you’ll accrue up to 5 points per dollar spent on travel purchases and 3 points for dining.

For frequent luxury travelers, Horbrook recommends cards such as the Capital One Venture X rewards credit card and the Platinum card from American Express. They have steeper annual fees ($395 and $695, respectively) but carry benefits like statement credits for travel purchases ($300 for Capital One, $400 combined between airline and hotel for Amex), along with other bonuses, like concierge service, complimentary elite status at certain hotels, and access to some swank airport lounges.