Here's Why You Shouldn't Wait to Get a Travel Credit Card

Travel credit cards can help you cover the cost of airfare, hotels, and other travel expenses. They're a good way to save and make your budget go further, whether you travel often, or you have a vacation coming up and you want to make it memorable.

If your next big trip is still a ways off, you might be wondering if getting a travel card can wait. For example, if you're planning a vacation for next summer, does it really make sense to get a travel credit card right now? The answer is yes, because waiting too long could leave you short on points.

It takes time to earn travel rewards

When you get a travel card, you can use it to start earning points on your purchases. You can then redeem your points for travel expenses. You'll typically earn anywhere from 1 to 5 points per $1, depending on the card and the type of purchase. As you may imagine, earning points this way isn't an overnight process.

But many travel cards also have large welcome offers. These are introductory bonuses for new cardholders, and some are worth 50,000 to 100,000 points. Welcome offers allow you to accumulate points much more quickly. To earn one, you normally need to meet a spending requirement, such as $4,000 spent in the first three months.

Now, even though welcome offers speed up the process, it still takes time to earn them and receive the bonus. You need to meet the spend requirement. Most cards give you three to six months to do this. Once you meet the spend requirement, you don't receive your bonus points right away. Most credit cards state in their terms that it can take up to two months.

That means you're looking at:

• Three to six months to meet the spend requirement
• One to two months to receive the bonus
• So a total of four to eight months, depending on the welcome offer and how quickly you meet the spend requirement

You also still need time to book your travel. Whether you're paying in points or cash, it can cost more to do this at the last minute.

Welcome offers may only be available for a limited time

Another thing to keep in mind is that welcome offers can change. Let's say you find a travel card you like with an 80,000-point welcome offer.

There's no guarantee how long that welcome offer will stick around. In two weeks, the credit card company could decide to drop it to 60,000 points. If that happens, you could end up missing out on an extra 20,000 points, just because you waited to apply. Those points may have been worth an extra $200 or more in travel.

Start earning travel points today

It's always better to have plenty of breathing room with travel cards and reservations. So, even if your trip is a year or more down the road, pick a travel credit card and apply now. You'll be able to earn more points, since you have more time, and book your trip farther in advance.

If you're not sure about how to travel using credit card points, or which card to pick, here are some resources to help:

• How to Travel for Free With Credit Card Points
• Best Travel Rewards Credit Cards
• Travel Credit Cards With No Annual Fee
• Credit Cards for International Travel

Travel rewards cards can seem a bit complicated at first, but it's easier once you get the hang of managing them. Once you get a card, the next step is to spend enough to earn the welcome offer. After that, you can look for ways to use those points to book the trip you want.