The Elan Travel Rewards+ Visa Signature is a mid-tier card for travel and vacationing. Issued by Elan Financial Services, it was released around mid-2023.
This credit card is available at dozens of credit unions, including Spectra and Valley Bank. Card details are the same regardless of which bank you work with. Other Elan cards include the Max Cash Preferred and Everyday Rewards+.
FEATURES AT A GLANCE
- $99 annual fee (waived the first year)
- No foreign transaction fees
- 4x points on travel
- 4x points on gas (and electric vehicle charging stations)
- 4x points on entertainment and recreation
- 1.5x points on everything else
SIGN UP BONUS
You can earn 25,000 points ($250) after spending $2,000 within the first 120 days of account opening. While this is a relatively low Return on Spend (RoS) of 12.5%, it’s interesting to see 120 days instead of the standard 90 day limit.
OTHER BENEFITS OF THE TRAVEL REWARDS+ CARD
- Visa Signature benefits
- Priority Pass Select (limited to 4 free visits per year)
RESTRICTIONS AND CREDIT SCORE
Recommended credit score: 670+
As a Visa Signature card, you’ll need to be eligible for a credit line of at least $5,000.
There are no known restrictions on this card. You just have to join a credit union which will accept your application. Some local banks may have restrictions on who can join, but Elan-issued cards are available at a lot of places, so this shouldn’t be a roadblock.
MAXIMIZING REWARDS WITH THE TRAVEL REWARDS+ CARD
In general, there isn’t much you can do to actually maximize the value of this card. It’s straightforward and earns cash back in multiple travel-related categories. Its perks and cash back rates are unlikely to offset its annual fee. This card, despite its 4% cash back rate, is worse than cards earning 3% cash back until you surpass the $10,000 mark. Most people don’t spend this much on travel.
“Travel” includes “purchases made directly from airlines, hotels, car rental companies, taxicabs, limousines, passenger trains and cruise line companies.” We don’t know at this time if this includes other travel expenses like parking, tolls, ferries, rideshare, or buses.
“Entertainment“ includes “most cinemas, theme parks, concert venues, professional sports venues, and qualifying ticket sellers such as Ticketmaster® and StubHub®.” This is somewhat limited, since other cards may include categories like museums and zoos.
“Recreation” includes “sports and recreation facilities that charge membership fees, sporting goods stores, public golf courses, fitness centers, ongoing fitness subscriptions, recreational vehicle parks and campsites, dance studios and schools, and bowling centers.”
ALTERNATIVES TO THE TRAVEL REWARDS+
This is similar to the U.S. Bank Altitude Connect, although this drops the 2x categories and improves the 1x “other” to 1.5x points instead. The streaming credit was also removed, and even though the Travel Rewards+ bumps it up to 4x points, it’s not an adequate replacement.
No-fee close alternatives include the Wells Fargo Autograph (3% on dining, gas, travel, streaming, and phone plans) and Capital One SavorOne (3% for groceries, dining, entertainment, and streaming).
For specific categories:
Travel Rewards+ getting 4% back on travel is decent, but we’re not sure if it includes general travel expenses (see above). The best no-fee travel card is usually the PenFed Pathfinder Rewards Visa Signature, which can get up to 4% back on travel (usually 3.4%) along with a $100 travel credit. You may also like the Capital One Venture X, which gets up to 10x points on travel and its annual fee is effectively zero for most people.
4% back on gas is easily outdone by other options. This includes the Abound Credit Union Visa Platinum and Citi Custom Cash, which both get 5% back, and perhaps the PenFed Platinum Rewards card.
4% back for entertainment and recreation is interesting, but Elan has a zero-fee card which can get 5% cash back in both categories: the Max Cash Preferred Visa Signature.
Lastly, for the “other” category, 1.5% cash back is low these days. Over two dozen cards earn at least 2% back on everyday non-category-based purchases, including the aforementioned Venture X.
CONCLUSION
Although the Elan Travel Rewards+ Visa Signature seems like a high earner at first glance, the $99 fee significantly lowers the value. A combination of no-fee cards is likely better for most people. Travel Rewards+ does simplify wallets by combining multiple categories, but most people won’t spend enough money to offset its annual fee. Anyone spending less than $10,000 a year in 4x categories should look elsewhere, unless they place high value on the free (albeit limited) Priority Pass.
If the math adds up for you, this is a decent card to consider. It’s not terrible. For most people though, this card is too niche and/or too expensive beyond the first year of usage.
We rate the Travel Rewards+ card 3 out of 5 stars. ⭐⭐⭐
Note: This review was last updated in June 2023. Details may have changed since then. Please do your own research where applicable, to ensure you’re getting the best deal. Or contact us directly to benefit from our personalized consulting services!