Chinese stocks up more than 2%, rest of Asia mixed as investors assess coronavirus impact

Asia Pacific markets traded mixed on Monday as investors continued to assess the potential economic fallout from the pneumonia-like coronavirus that’s infected more than 70,000 people and killed over 1,700. The Ministry of Finance said Saturday it would provide 8 billion yuan in a second round of support for virus prevention and control efforts. As of Friday, all levels of finance ministries in China had allocated 90.15 billion yuan in support, according to the central government. Singapore’s St


Asia Pacific markets traded mixed on Monday as investors continued to assess the potential economic fallout from the pneumonia-like coronavirus that’s infected more than 70,000 people and killed over 1,700.
The Ministry of Finance said Saturday it would provide 8 billion yuan in a second round of support for virus prevention and control efforts.
As of Friday, all levels of finance ministries in China had allocated 90.15 billion yuan in support, according to the central government.
Singapore’s St
Chinese stocks up more than 2%, rest of Asia mixed as investors assess coronavirus impact Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, stocks, impact, billion, virus, wrote, economic, travel, rest, liquidity, china, yuan, mixed, assess, asia, index, coronavirus, chinese, investors


Chinese stocks up more than 2%, rest of Asia mixed as investors assess coronavirus impact

Asia Pacific markets traded mixed on Monday as investors continued to assess the potential economic fallout from the pneumonia-like coronavirus that’s infected more than 70,000 people and killed over 1,700.

Chinese shares on the mainland rose: The Shanghai composite rose 2.28% to 2,983.62, the Shenzhen composite was up 3.18% to 1,835.96 and the Shenzhen component added 2.98% to 11,241.50.

Hong Kong’s Hang Seng index rose 0.58% in late afternoon trade.

In an effort to alleviate the shock of the virus outbreak on businesses, China is planning targeted tax cuts while increasing government spending, Finance Minister Liu Kun wrote Sunday in China’s Communist Party magazine Qiushi.

The Ministry of Finance said Saturday it would provide 8 billion yuan in a second round of support for virus prevention and control efforts. As of Friday, all levels of finance ministries in China had allocated 90.15 billion yuan in support, according to the central government.

Economists expect the People’s Bank of China to step up its liquidity measures to ease funding conditions in Chinese money markets to combat downside risks posed by the infection. “Admittedly, while lots of fluids is a recommendation for flu, money market liquidity infusions alone will not address China’s woes from the coronavirus,” Vishnu Varathan, head of economics and strategy for Asia at Mizuho Bank, wrote in a note.

“Nonetheless, ensuring ease of cash flow is a necessary condition to ensure otherwise viable businesses do not go belly up due to a seizure in liquidity,” Varathan said, adding that he thought the PBOC would “more than offset upcoming liquidity drainage.”

Read: Coronavirus live updates — China reports 105 additional deaths, 2,048 new cases

Elsewhere, Japanese shares fell, with the benchmark Nikkei 225 down 0.69% to 23,523.24 and the Topix index off by 0.89% to 1,687.77. Cabinet office data revealed the Japanese economy shrank at an annualized pace of 6.3% in the three months that ended in December. Analysts in a Reuters poll were predicting an annual decline of 3.7%. On-quarter, GDP fell 1.6%.

In Australia, the ASX 200 closed fractionally lower at 7,125.10, as the heavily weighted financial subindex declined 0.44%. South Korea’s Kospi index declined 0.06% to 2,242.17. Singapore’s Straits Times index was down 0.23% as of 3:48 p.m. HK/SIN, after the city-state downgraded its 2020 economic forecast. Singapore is grappling with one of the highest numbers of coronavirus cases outside China.

“The worrying human and economic toll of the COVID-19 outbreak is creating much uncertainty, especially as changes to the case tracking methods are making news difficult to interpret,” John Bromhead from ANZ Research wrote in a morning note.

“Markets appear to be expecting a short-lived economic impact, but they are in “wait-and-see” mode,” Bromhead said, explaining that although Chinese factories are slowly re-opening after being shut over an extended period of time after the Lunar New Year break, it will take time to clear the backlog of cargo at ports. Significant disruption is also ongoing, he added.

The virus, which was first detected in the Chinese city of Wuhan, is expected to have a significant economic impact on China as well as the global economy. Officials disclosed on Saturday that travel during the latest Lunar New Year period was a fraction of previous years amid increased travel restrictions aimed at containing the virus’ spread.

People stayed home and took advantage of refund policies that authorities enacted — China’s aviation authority said since it first announced a ticket refund policy in late January, domestic and foreign airlines have processed 20 million in tickets worth more than 20 billion yuan ($2.9 billion). The number of flights has been about a quarter of what it was last year, a representative said.

China’s railway authority said rail trips during the holiday travel period so far has been one-seventh of the 280 million it had anticipated, and that it has processed 11.5 billion yuan ($1.6 billion) in ticket refunds.


Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, stocks, impact, billion, virus, wrote, economic, travel, rest, liquidity, china, yuan, mixed, assess, asia, index, coronavirus, chinese, investors


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Coronavirus live updates: State Department set to evacuate Americans from cruise ship, China slams global ‘overreaction’

Those symptomatic passengers unable to board the flight will “receive the required care in Japan,” the State Department said. It said that situation will be manageable as China has a relatively low bad loan ratio, the report said. On Friday, China said that 1,716 health workers in the country have been infected with the COVID-19 virus. Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, told reporters during a press briefing that there are curre


Those symptomatic passengers unable to board the flight will “receive the required care in Japan,” the State Department said.
It said that situation will be manageable as China has a relatively low bad loan ratio, the report said.
On Friday, China said that 1,716 health workers in the country have been infected with the COVID-19 virus.
Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, told reporters during a press briefing that there are curre
Coronavirus live updates: State Department set to evacuate Americans from cruise ship, China slams global ‘overreaction’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: weizhen tan evelyn cheng natasha turak, weizhen tan, evelyn cheng, natasha turak
Keywords: news, cnbc, companies, global, outbreak, evacuate, report, control, ship, overreaction, department, slams, conference, state, health, live, travel, set, china, updates, according, billion, workers


Coronavirus live updates: State Department set to evacuate Americans from cruise ship, China slams global 'overreaction'

This is a live blog. Please check back for updates. All times below are in Beijing time.

4:30 pm: U.S. State Department will evacuate all Americans from Diamond Princess cruise ship quarantined in Japan

The State Department will provide a chartered aircraft to fly American citizens aboard the quarantined Diamond Princess cruise directly from Japan to the U.S., it said in a statement Saturday. The aircraft is set to arrive in Japan on the evening of Feb. 16, and will land in the U.S. at Travis Air Force Base in California. Some passengers will then continue onward to Lackland Air Force Base in Texas. All passengers will need to be quarantined in the U.S. for a further 14 days. Those symptomatic passengers unable to board the flight will “receive the required care in Japan,” the State Department said.

2:50 pm: China rail refunded $4.5 billion in tickets —officials

Chinese officials disclosed Saturday that travel during the latest Lunar New Year period was a fraction of previous years, as people stayed home and took advantage of refund policies that authorities enacted in an effort to limit the spread of the virus. China’s aviation authority said since it first announced a ticket refund policy in late January, domestic and foreign airlines have processed 20 million tickets worth more than 20 billion yuan ($2.9 billion). The number of flights has been about a quarter of what it was last year, a representative said. China’s railway authority said rail trips during the holiday travel period so far have been one-seventh of the 280 million it had anticipated, and that it has processed 11.5 billion yuan ($1.6 billion) in ticket refunds.

2:10 pm: China says it will tolerate more bad loans

China’s central bank says lenders will accept higher levels of bad loans in a bid to support firms affected by the virus outbreak, according to a Reuters report. It said that situation will be manageable as China has a relatively low bad loan ratio, the report said. He added that the problem will be manageable as China has a relatively low bad loan ratio.

12:55 pm: China bans insurers from offering virus-specific products

China’s deputy chair of the banking and insurance regulator, Liang Tao, said Saturday at a press conference that there are already more than 400 insurance products that can cover risks related to the new coronavirus pneumonia. “Due to the lack of pricing data, and for the protection against violation of consumer rights, the China Banking and Insurance Regulatory Commission prohibits companies from issuing such single-liability products,” Liang said, according to a CNBC translation of his Mandarin-language remarks.

12:30 pm: 25,633 medical workers sent to Hubei so far

A total of 217 medical teams comprised of 25,633 healthcare workers have been sent to the virus-hit Hubei province as of Feb. 14, according to state-owned media People’s Daily citing China’s National Health Commission. The majority of them are in Wuhan. On Friday, China said that 1,716 health workers in the country have been infected with the COVID-19 virus.

11:15 am: Trump trade advisor Navarro says drug production could start as soon as this month

White House trade advisor Peter Navarro told Fox Business Network on Friday night Eastern time that testing and production of a coronavirus drug could start as soon as late February. He said on the show that the White House is “moving at Trump time” on a treatment drug and are hopeful testing and production could begin “as early as the end of the month, mid-March.” Navarro told Fox Business Network a vaccine could be “hopefully as early as next November,” adding that five large American companies are working to get 150 million doses of a vaccine ready.

10:40 am: US evacuating citizens aboard quarantined cruise ship off Japan

The U.S. is evacuating its citizens and their families who are onboard the Diamond Princess cruise ship off Japan that has been quarantined for almost two weeks, according to the Wall Street Journal, which cited an official from the U.S. Centers for Disease Control and Prevention. There will be two evacuation flights from Japan for around 380 people, the report said. At least 218 passengers on the Diamond Princess were confirmed to be infected.

10:25 am: Support for companies to fight outbreak in China

As of noon on Friday, banks and financial institutions have supplied more than 537 billion yuan ($76.9 billion) in credit to fight the virus, Liang Tao, deputy head of the China Banking and Insurance Regulatory Commission, said Saturday morning at a press conference in Beijing.

9:30 am: China’s foreign minister slams global ‘overreaction’ to virus

China’s State Councillor and Foreign Minister Wang Yi said China’s efforts to control the epidemic have been comprehensive and that it’s “under control,” while slamming the “overreaction” of other countries, according to a Reuters report. In an interview with Reuters in Berlin, he said: “The epidemic overall is under control.” “”We’ve taken such complete prevention and control efforts, efforts that are so comprehensive, that I can’t see any other country that can do this,” Wang said, adding that they would find it very difficult, according to Reuters. “But China has been able to do this.” The U.S. should not take unnecessary measures that will affect tourism and trade, he said, according to Reuters. The U.S. was among several countries who placed travel curbs on Chinese citizens, or travelers who have been to mainland China.

8:50 am: IBM withdraws from RSA conference in San Francisco

IBM says it’s no longer participating in a major conference — the RSA cyber security conference — in San Francisco in February over virus fears, it said in a tweet. The conference is scheduled for Feb. 24 to Feb. 28. Earlier, Facebook announced it has called off its global marketing summit set for next month also in San Francisco, for the same reason, according to a Reuters report. Another major event, Mobile World Congress (MWC), the world’s largest trade show for the mobile phone industry, was canceled this week over those fears. That decision came after many companies pulled out of the conference, such as LG, Sony, Ericsson, Nokia, Nvidia, Intel and Amazon.

8:05 am: China confirms 143 more deaths, 2,641 new cases

China’s National Health Commission reported an additional 143 deaths nationwide, as well as 2,641 new confirmed cases as of Feb. 14. That tally includes Hubei, the epicenter of the outbreak, where 2,420 new cases were reported, and 139 more deaths. That brings the total number of confirmed cases in the country to 66,492, and number of total deaths at 1,523, the authority said. All times below are in Eastern time.

3:03 pm: US health officials will check patients with flu-like symptoms for coronavirus

U.S. health officials will monitor people with flu-like symptoms for the coronavirus in five cities, the Centers for Disease Control and Prevention said Friday. The five labs are in Los Angeles, San Francisco, Seattle, Chicago and New York City, but the agency hopes to expand the monitoring nationwide. — Feuer

1:21 pm: CDC concerned with report of infected health workers in China

A U.S. Centers for Disease Control and Prevention official said the notice from China’s National Health Commission about 1,716 health workers infected with the coronavirus was “concerning.” Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, told reporters during a press briefing that there are currently no U.S. health workers infected with the virus. She also reiterated the possibility of community spread in the United States. — Lovelace

12:11 pm: Chinese official to travel to Germany to discuss outbreak

Chinese Foreign Minister Wang Yi will travel to Germany this weekend to discuss the deadly outbreak among other national security issues. Wang is slated to give a keynote speech at the annual Munich Security Conference. Since the deadly outbreak, Wang is the first Chinese senior official to travel overseas. His trip comes as White House officials express doubts about the information coming out of China. — Macias

11:55 am: WHO and China investigate health workers infected with virus

World health officials are working with Chinese authorities to determine when the 1,716 health workers in the country were infected with the COVID-19 coronavirus. It appears infections among medical workers peaked in mid-January and has “rapidly” decreased since, Dr. Mike Ryan, executive director of the World Health Organization’s emergencies program, said at a news conference at the agency’s headquarters in Geneva. “This may reflect increased levels of training, increased levels of protection and increased levels of awareness.” — Lovelace

10:44 am: WHO reveals details on its mission to China

Director-general of the World Health Organization Tedros Adhanom Ghebreyesus said at a news briefing he expects the WHO-led mission to China to arrive over the weekend. The team will include 12 international and WHO experts, Tedros said, as well as the same number of Chinese counterparts, though he did not identify individual members. He said the experts will visit three provinces to observe on-the-ground response efforts, but did not say if the mission will visit the epicenter of the outbreak, the city of Wuhan in Hubei province. “The goal of the joint mission is to rapidly inform the next steps in the COVID-19 response and preparedness activities in China and globally,” he said. —Feuer Read CNBC’s coverage from the U.S. overnight: China tries to get back to work as Beijing sets a 14-day quarantine rule for arrivals.

10:14 am: Beijing authorities issue self-quarantine order for returning residents


Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: weizhen tan evelyn cheng natasha turak, weizhen tan, evelyn cheng, natasha turak
Keywords: news, cnbc, companies, global, outbreak, evacuate, report, control, ship, overreaction, department, slams, conference, state, health, live, travel, set, china, updates, according, billion, workers


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Airbnb halts Beijing bookings until May due to coronavirus outbreak

Airbnb is suspending bookings in Beijing until May as the rapid spread of coronavirus hands the home-sharing giant a new kind of challenge. The number of documented cases of coronavirus jumped by more than 15,000 to at least 60,000, most of them in China. At least 1,369 people have died from the virus, which the World Health Organization has named COVID-19. “As efforts to control the novel coronavirus outbreak continue, we will comply with additional guidance issued for the industry during this


Airbnb is suspending bookings in Beijing until May as the rapid spread of coronavirus hands the home-sharing giant a new kind of challenge.
The number of documented cases of coronavirus jumped by more than 15,000 to at least 60,000, most of them in China.
At least 1,369 people have died from the virus, which the World Health Organization has named COVID-19.
“As efforts to control the novel coronavirus outbreak continue, we will comply with additional guidance issued for the industry during this
Airbnb halts Beijing bookings until May due to coronavirus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: leslie josephs
Keywords: news, cnbc, companies, coronavirus, outbreak, support, halts, feb, virus, spread, travel, beijing, bookings, shortterm, airbnb, world, china


Airbnb halts Beijing bookings until May due to coronavirus outbreak

Airbnb is suspending bookings in Beijing until May as the rapid spread of coronavirus hands the home-sharing giant a new kind of challenge.

The number of documented cases of coronavirus jumped by more than 15,000 to at least 60,000, most of them in China. At least 1,369 people have died from the virus, which the World Health Organization has named COVID-19.

Airbnb customers who had reservations in Beijing between Feb. 7 and April 30 will be refunded, a spokesman for the travel start-up said, adding that the company was following local government guidance to short-term rental companies.

Coronavirus presents a new headwind for Airbnb, which is targeting this year for a long-awaited initial public offering, after spending years battling other issues, such as local laws aimed at curbing its short-term rental model.

“As efforts to control the novel coronavirus outbreak continue, we will comply with additional guidance issued for the industry during this public health emergency,” Airbnb said in a statement. “We will refund and support guests who had cancelled reservations. And we will continue to work diligently to build programs that support our community of hosts.”

Bookings in Wuhan, the epicenter of the virus, are suspended until March 31. In the Yongchuan district in Chongqing in central China and Wuxi, near Shanghai, there is a freeze until Feb. 20.

The spread of the virus has roiled travel to China and elsewhere, prompting more than a dozen international airlines, including United, Delta and American, to halt or scale back China service. Airlines canceled more than 85,000 China flights from Jan. 23 through Feb. 11 because of coronavirus, figures from aviation consulting firm Cirium showed on Wednesday.

The fallout from the virus is affecting the travel industry even outside of China, as attendees are staying away from high-profile events such as the Singapore Airshow. The Mobile World Congress, the world’s largest telecommunications conference, which had about 100,000 attendees last year, was cancelled. The organizer said it was “impossible” to hold the trade show because of the outbreak.


Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: leslie josephs
Keywords: news, cnbc, companies, coronavirus, outbreak, support, halts, feb, virus, spread, travel, beijing, bookings, shortterm, airbnb, world, china


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United cancels some Barcelona flights, waives cancellation fees as coronavirus derails Mobile World Congress

United Airlines on Thursday said it will scale back its flights to Barcelona after the Mobile World Congress — the world’s largest telecommunications trade show — was canceled because of the virus. The carrier had built up service for the event, adding two nonstops and using larger aircraft. United said it would provide a full refund to travelers who don’t want to travel to Barcelona because the event was canceled and that it will waive cancellation fees. United had added four round-trips betwee


United Airlines on Thursday said it will scale back its flights to Barcelona after the Mobile World Congress — the world’s largest telecommunications trade show — was canceled because of the virus.
The carrier had built up service for the event, adding two nonstops and using larger aircraft.
United said it would provide a full refund to travelers who don’t want to travel to Barcelona because the event was canceled and that it will waive cancellation fees.
United had added four round-trips betwee
United cancels some Barcelona flights, waives cancellation fees as coronavirus derails Mobile World Congress Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: leslie josephs
Keywords: news, cnbc, companies, fees, aircraft, barcelona, feb, travel, mobile, airlines, united, cancels, world, smaller, flights, waives, san, francisco, congress, derails, event, canceled, coronavirus


United cancels some Barcelona flights, waives cancellation fees as coronavirus derails Mobile World Congress

Coronavirus isn’t just hitting China travel. Barcelona trips are also feeling the impact.

United Airlines on Thursday said it will scale back its flights to Barcelona after the Mobile World Congress — the world’s largest telecommunications trade show — was canceled because of the virus. The annual event, which was scheduled for later this month, drew some 100,000 people last year.

The carrier had built up service for the event, adding two nonstops and using larger aircraft. It’s part of a trend among airlines to chase customers willing to pay high prices for special conferences such as the Consumer Electronics Show in Las Vegas, political events and sports, with additional, targeted service.

United said it would provide a full refund to travelers who don’t want to travel to Barcelona because the event was canceled and that it will waive cancellation fees.

United had added four round-trips between San Francisco and Barcelona for the event, and it will cancel two of them — leaving on Feb. 26 and Feb. 27 — and use smaller aircraft for the others. It will also use smaller planes on routes from San Francisco and Newark to Barcelona than it had previously planned.


Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: leslie josephs
Keywords: news, cnbc, companies, fees, aircraft, barcelona, feb, travel, mobile, airlines, united, cancels, world, smaller, flights, waives, san, francisco, congress, derails, event, canceled, coronavirus


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Why the world economy will be facing China’s coronavirus for a long time

A man wears a protective mask on February 10, 2020 in Wuhan, China. Many of these relationships are created in the environment of trade shows, conferences, information exchange platforms, and trade delegations. Major retailers, manufacturers, pharmaceuticals, biotech, automotive and other sectors are firmly planted in China with technology and personnel. Now, with the essentially closed border with China, the rest of the world waits and watches. Therefore, a wide swath of activities are upended


A man wears a protective mask on February 10, 2020 in Wuhan, China.
Many of these relationships are created in the environment of trade shows, conferences, information exchange platforms, and trade delegations.
Major retailers, manufacturers, pharmaceuticals, biotech, automotive and other sectors are firmly planted in China with technology and personnel.
Now, with the essentially closed border with China, the rest of the world waits and watches.
Therefore, a wide swath of activities are upended
Why the world economy will be facing China’s coronavirus for a long time Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: malcolm s mcneil, international co-leader, partner at the law firm arent fox
Keywords: news, cnbc, companies, business, trade, long, closed, sectors, facing, world, chinese, wuhan, coronavirus, travel, economy, china, chinas, technology


Why the world economy will be facing China's coronavirus for a long time

A man wears a protective mask on February 10, 2020 in Wuhan, China. Getty Images

Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between China and the West — and China and the U.S., in particular. However, there are far-reaching effects that have not been contemplated fully beyond the intuitive assessment. Things move slowly. China has long been known as a country with patience, which in business language translates to longer lead times in the transactional arena, sometimes exhaustive negotiations, and relationships are built over time. Many of these relationships are created in the environment of trade shows, conferences, information exchange platforms, and trade delegations. China has finely tuned this method of cross-border introductions and it is a continuous process. Combined with this is the growth of the multinational business presence in China. Major retailers, manufacturers, pharmaceuticals, biotech, automotive and other sectors are firmly planted in China with technology and personnel. Now, with the essentially closed border with China, the rest of the world waits and watches. To the business community, this is unsettling, to say the least, because there is no accurate predictor of when a vaccine may be found or when the world threat eradicated. Even when those pronouncements are ultimately made by Beijing there is the inherent distrust of information disseminated by the Chinese government.

So what does all of this mean for cross-border business in the short and long term? An aerial view reveals that the movement of people and technology and deal closure have simply come to a halt. When the Chinese government, or other governments, or the WHO pronounce that it is safe to travel to China again, that will not be the end of it. There has been a worldwide reaction to the scare. The tradeshow and related cancellations have occurred not only in China but throughout Asia and into Europe. Therefore, a wide swath of activities are upended across all business sectors. The rate of new cases slowed on Wednesday. As of this writing, there have been more than 45,000 cases of Covid-19 and over 1,100 deaths. Businesses from cruise ships to luxury brands and air travel, as well as global markets like oil, have all been hit. There can be no question that it will be a slow and painful process moving back to normalcy. Professional offices remain closed indefinitely, and 90% of businesses are closed or at dramatically reduced hours. Theaters, factories and others where people congregate are closed.

The headlines today paint Wuhan as a pariah city, in a wartime battle and in lockdown. The Chinese Chernobyl. These characterizations will not be easily shed.


Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: malcolm s mcneil, international co-leader, partner at the law firm arent fox
Keywords: news, cnbc, companies, business, trade, long, closed, sectors, facing, world, chinese, wuhan, coronavirus, travel, economy, china, chinas, technology


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Best credit cards for international travel of 2020

Just using the $120 dining credit and $100 airline fee credit each year effectively reduces the fee to $30. Read CNBC Select’s Amex Gold Card review for more detail and check out CNBC Select’s best no annual fee credit cards. Read CNBC Select’s Capital One VentureOne Rewards Credit Card review for more detail and check out CNBC Select’s best hotel credit cards. The $300 annual travel credit effectively reduces the annual fee to a more manageable $150. Read CNBC Select’s Chase Sapphire Reserve re


Just using the $120 dining credit and $100 airline fee credit each year effectively reduces the fee to $30.
Read CNBC Select’s Amex Gold Card review for more detail and check out CNBC Select’s best no annual fee credit cards.
Read CNBC Select’s Capital One VentureOne Rewards Credit Card review for more detail and check out CNBC Select’s best hotel credit cards.
The $300 annual travel credit effectively reduces the annual fee to a more manageable $150.
Read CNBC Select’s Chase Sapphire Reserve re
Best credit cards for international travel of 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: alexandria white
Keywords: news, cnbc, companies, travel, credit, best, annual, points, cards, purchases, cash, fee, rewards, card, international, 2020, bonus


Best credit cards for international travel of 2020

Booking international travel can be costly, but with a little advanced planning you can use a credit card to save money. One of the biggest mistakes credit cardholders make abroad is using a card that charges foreign transaction fees, which average 3% per purchase. If you spend $1,000 on purchases during your overseas vacation, you’ll pay $30 in fees that can easily be avoided by using a credit card with no foreign transaction fee. There are many financial steps to take before an international trip, and you can check off choosing the right credit card by considering one of the options mentioned below. (See our methodology for more information on how we choose the best cards.) CNBC Select reviewed popular rewards credit cards to find the best options for people who are traveling outside the U.S., so you can maximize rewards and save on unnecessary fees. All of the cards mentioned below have no foreign transaction fees.

Best credit cards for international travel

Winner

American Express® Gold Card Apply Now Rewards 4X Membership Rewards® points when you dine at restaurants worldwide and shop at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X), 3X points on flights booked directly with airlines or on amextravel.com, 1X points on all other purchases

Welcome bonus 35,000 Membership Rewards® points after you spend $4,000 on eligible purchases within the first 3 months from account opening

Annual fee $250

Intro APR Not applicable

Regular APR See rates and fees

Balance transfer fee See rates and fees

Foreign transaction fee None

Credit needed Excellent/Good

See rates and fees and our methodology, terms apply. Pros Strong rewards program with 4X points earned on dining worldwide and 3X points earned on flights booked directly with airlines or amextravel.com

Up to $100 credit in airline fees, up to $120 in dining credits at participating partners and up to $100 hotel credit

35,000 Membership Rewards® points welcome bonus after you spend $4,000 within first 3 months

Baggage insurance plan covers up to $1,250 for carry-on baggage and up to $500 for checked baggage that is damaged, lost or stolen

No fee charged on purchases made outside the U.S. Cons No introductory APR period

$250 annual fee

This is a charge card, which means you have to pay off your balance in full each billing cycle Estimated rewards earned after 1 year: $824

$824 Estimated rewards earned after 5 years: $2,719 Rewards totals incorporate the points earned from the welcome bonus read more Apply Now On American Express’s secure website.

Who’s this for? If you love food and travel, the American Express® Gold Card could be the ideal rewards card for you. Cardholders earn a competitive 4X points per dollar spent at restaurants worldwide and 4X points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X). Plus, earn 3X points on flights booked directly with airlines or on amextravel.com. You can save money on in-flight food and beverages as well as seat upgrades and checked baggage with the annual $100 airline fee credit. Simply complete a one-time activation by selecting an airline to benefit from this perk. Cardholders also receive an annual dining credit of up to $120 ($10 a month) at participating partners, including Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed and participating Shake Shack locations. This card does have a $250 annual fee, but it can easily be offset if you take advantage of all the added card benefits. Just using the $120 dining credit and $100 airline fee credit each year effectively reduces the fee to $30. Then, the rewards you earn help further “pay” for the card. Cardholders can also benefit from Amex Offers, where you can earn statement credits or bonus Membership Rewards® points at select retailers. Travelers will appreciate that there’s no foreign transaction fees as well as the insurance for car rentals and damaged, lost or stolen luggage. Check out CNBC Select’s best rewards credit cards.

Best for No Annual Fee

Wells Fargo Propel American Express® Card Learn More Rewards 3X points on dining out and ordering in; gas, rideshares and transit; flights, hotels, homestays and car rentals; and popular streaming services. 1X points on all other purchases

Welcome bonus 20,000 bonus points when you spend $1,000 in purchases in the first 3 months

Annual fee $0

Intro APR 0% APR for 12 months on purchases and qualifying balance transfers

Regular APR 15.49% to 27.49% variable

Balance transfer fee Introductory fee of 3% ($5 minimum) for 120 days, then 5% ($5 minimum)

Foreign transaction fee None

Credit needed Excellent/Good

See our methodology, terms apply. Pros No annual fee

No fee charged on purchases made outside the U.S.

0% APR for the first 12 months on purchases and balance transfers

No blackout dates on air travel when redeemed through Go Far Rewards Cons Minimum reward redemption amount of 2,500 points

Balance transfers incur a 3% fee ($5 minimum) Estimated rewards earned after 1 year: $584

$584 Estimated rewards earned after 5 years: $2,120 Rewards totals incorporate the points earned from the welcome bonus read more Learn More Information about the Wells Fargo Propel American Express® Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

Who’s this for? The Wells Fargo Propel American Express® Card offers a strong rewards program for frequent travelers all at no annual fee. Cardholders earn 3X points per dollar spent on dining out, ordering in, travel, and a number of streaming services, including Apple Music, Hulu, Netflix and Spotify Premium. Those kinds of rewards are hard to find among no annual fee cards. The travel rewards are unique since it gives you points not just on flights and hotels but also car rentals, homestays and ridesharing services. There are no blackout dates on flights booked through Go Far® Rewards. There’s also an impressive welcome bonus for a no-annual-fee card: Earn 20,000 points after you spend $1,000 within the first three months. That’s equivalent to $200 in cash. The additional perks geared toward travelers are worth noting: Cardholders can take advantage of lost luggage reimbursement, car rental loss and damage insurance, roadside assistance, 24/7 travel and emergency assistance and no foreign transaction fees. This card also provides a year of no interest on purchases and balance transfers (after a 15.74% to 27.74% variable APR). If you have expected upcoming expenses that you want to pay for over time, or you’re looking to consolidate credit card debt, the Wells Fargo Propel American Express® Card can help you finance debt without incurring interest charges. Read CNBC Select’s Amex Gold Card review for more detail and check out CNBC Select’s best no annual fee credit cards.

Best for Dining

Capital One® Savor® Cash Rewards Credit Card Learn More Rewards 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases

Welcome bonus Earn a one-time $300 cash bonus once you spend $3,000 on purchases within the first three months from account opening

Annual fee $95, waived the first year

Intro APR 0% for the first 12 months on purchases; N/A on balance transfers

Regular APR 16.24% to 25.24% variable on purchases and balance transfers

Balance transfer fee 3% for promotional APR offers; none for balances transferred at regular APR

Foreign transaction fee None

Credit needed Excellent/Good

See our methodology, terms apply. Pros Unlimited 4% cash back on entertainment purchases

8% cash back on all Vivid Seats ticket purchases through May 31, 2020

Ability to redeem rewards at any amount, unlike some other cards with $25 minimums

No fee charged on purchases made outside the U.S. Cons $95 annual fee after the first year

Cable, digital streaming and membership services are excluded from the 4% cash-back rate

No introductory 0% financing offers for purchases or balance transfers Estimated rewards earned after 1 year: $781

$781 Estimated rewards earned after 5 years: $2,327 Rewards totals incorporate the cash back earned from the welcome bonus read more Learn More Information about the Capital One® Savor® Cash Rewards Credit Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

Who’s this for? Travelers who love to eat out can’t go wrong carrying a dining rewards card. The Capital One® Savor® Cash Rewards Credit Card offers 4% cash back on dining purchases. This is one of the highest rewards rates on dining available, and Capital One classifies dining as restaurants, cafes, bars, lounges, fast-food chains and bakeries. Plus, you can enjoy foodie-centric perks, such as exclusive access to premium reservations with OpenTable. And no worries if you’re dining overseas, this card doesn’t charge foreign transaction fees. You can also earn 4% cash back on entertainment spending, whether you’re buying movie tickets, taking a family trip to the zoo or spending the evening bowling with friends. Through May 31, 2020, cardholders who buy tickets through Vivid Seats, a ticket resale site, can take advantage of 8% cash back. Cardholders benefit from exclusive access to dining, sports and entertainment events, such as the iHeartRadio Music Festival and the Capital One JamFest. Beyond dining and entertainment perks, there’s also 2% cash back at grocery stores and 1% on all other purchases. This card does come with a $95 annual fee, but it’s waived during the first year and can be offset by the cash back you earn. Check out CNBC Select’s best credit cards for dining out and restaurants.

Best for Hotels

Capital One® VentureOne® Rewards Credit Card Learn More Rewards 5X miles on hotel and rental cars booked through Capital One Travel℠, 1.25X miles per dollar on every purchase

Welcome bonus 20,000 bonus miles once you spend $1,000 on purchases within the first 3 months from account opening

Annual fee $0

Intro APR 0% APR for 12 months

Regular APR 13.49% to 23.49% variable

Balance transfer fee 3% for promotional APR offers; none for balances transferred at regular APR

Foreign transaction fee None

Credit needed Excellent/Good

See our methodology, terms apply. Pros 5X miles on hotel and rental cars booked through Capital One Travel℠

0% APR for 12 months

Miles never expire for the life of the account Cons No Global Entry or TSA PreCheck statement credit offerings

No airport lounge access Estimated rewards earned after 1 year: $500

$500 Estimated rewards earned after 5 years: $1,699 Rewards totals incorporate the points earned from the welcome bonus read more Learn More Information about the Capital One® VentureOne® Rewards Credit Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

Who’s this for? Anyone looking to book hotel rooms should consider the Capital One® VentureOne® Rewards Credit Card with its impressive offer 5X miles on hotel and rental cars booked through Capital One Travel℠. Cardmembers can earn unlimited 1.25X miles on all other purchases, making it a solid choice for everyday use. The card has no annual fee and charges no foreign transaction fees. Another perk is the intro 0% APR period, which lasts for 12 months for new purchases (after a 13.74% to 23.74% variable APR). This can come in handy if you want to pay for a vacation over the course of a year and avoid interest charges. The Capital One® VentureOne® Rewards Credit Card offers new users a strong welcome bonus: 20,000 bonus miles after they spend $1,000 on purchases within the first three months. You can redeem miles for past travel expenses using the Purchase Eraser®, which is essentially a statement credit. Or you can book new travel reservations through the Capital One Rewards Center. Additionally, with this card, it’s possible to transfer your miles to any of Capital One’s partner airlines, including JetBlue, Emirates Skywards, Air Canada and Air France. (Read how to make the most of your airline miles.) Read CNBC Select’s Capital One VentureOne Rewards Credit Card review for more detail and check out CNBC Select’s best hotel credit cards.

Best for Luxury Travel

Chase Sapphire Reserve® Apply Now Rewards 10X points on Lyft rides through March 2022, 3X points on travel worldwide (immediately after earning your $300 annual travel credit), 3X points on dining at restaurants worldwide, 1X point per $1 on all other purchases

Welcome bonus 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening — worth up to $750 toward travel when you redeem through Chase Ultimate Rewards®

Annual fee $550

Intro APR None

Regular APR 18.49% to 25.49% variable

Balance transfer fee 5%, minimum $5

Foreign transaction fee None

Credit needed Excellent

See our methodology, terms apply. Pros $300 annual travel credit for travel purchases

Global Entry or TSA PreCheck application fee credit up to $100 every four years

Priority Pass™ Select lounge access at 1,000+ VIP lounges in over 500 cities worldwide

Special benefits at The Luxury Hotel & Resort Collection

Free DashPass subscription for a minimum of a year when you activate by December 31, 2021

$60 DoorDash credit in 2020 and 2021

Complimentary year of Lyft Pink membership Cons High $550 annual fee, but it can be offset by taking advantage of all the card’s perks

No introductory APR

Relatively high balance transfer fee Estimated rewards earned after 1 year: $1,231

$1,231 Estimated rewards earned after 5 years: $2,755 Rewards totals incorporate the points earned from the welcome bonus read more Apply Now On Chase’s secure site

Who’s this for? The Chase Sapphire Reserve® is geared toward foodies and frequent travelers who are looking for luxurious perks, such as annual travel credits, airport lounge access and complimentary hotel room upgrades. You can take advantage of an annual $300 travel credit, which can cover everything from airfare and hotels to parking and tolls. Cardholders earn 3X points on travel worldwide (immediately after earning your $300 annual travel credit) and on dining at restaurants worldwide and 1X point per $1 on all other purchases. Points are worth 50% more when redeemed for travel via Chase Ultimate Rewards®. For example, 50,000 points are worth $750 redeemed toward airfare, hotels, car rentals and cruises when you redeem through Chase Ultimate Rewards®. This perk is a great way to get the most value for your rewards. Chase recently added new Lyft perks including 10X points on Lyft rides through March 2022 and a complimentary year of Lyft Pink membership (worth $19.99 per month). Lyft Pink includes 15% off car rides, relaxed cancellations, priority airport pickups, up to three free 30-minute bike and scooter rides per month and more. While this card has a robust rewards program, it also comes with a steep $550 annual fee. All the card’s added credits and benefits provided by Chase can help offset the cost. The $300 annual travel credit effectively reduces the annual fee to a more manageable $150. Cardholders can take advantage of a Priority Pass™ Select membership that has a value of about $429, as well as Global Entry or TSA PreCheck application fee credit of up to $100 every four years. Read CNBC Select’s Chase Sapphire Reserve review for more detail and check out CNBC Select’s best travel credit cards.

Best for Bad Credit

Discover it® Secured Apply Now Rewards 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter, then 1%); unlimited 1% cash back on all other purchases

Welcome bonus At the end of your first year, Discover automatically matches all the cash back you earned

Annual fee $0

Intro APR 10.99% for the first 6 months on balance transfers; N/A for purchases

Regular APR 24.49% variable on purchases and balance transfers

Balance transfer fee 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*

Foreign transaction fee None

Credit needed No credit history

*See rates and fees and our methodology, terms apply. Pros No annual fee

Discover automatically reviews your credit card account monthly, starting at eight months, to see if your security deposit can be returned while you continue to enjoy your card benefits

Strong cash-back rewards program

Simple welcome bonus with no minimum spending requirements

No fee charged on purchases made outside the U.S. Cons Low credit limit prevents cardholders from charging high-cost items or many expenses

You have to have a Social Security number and U.S. bank account to apply for this card

Relatively high 24.49% variable APR

Discover isn’t as widely accepted as Visa and Mastercard Apply Now On Discover’s Secured Site

Who’s this for? If you have no credit history or bad credit (scores below 580), a secured card may be your best option. The Discover it® Secured is a well-rounded secured card that offers many benefits that are typically found with unsecured cards. Cardholders can earn cash back, receive a generous welcome bonus, use the card overseas without incurring added fees and more — all for no annual fee. Cardholders earn a competitive 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter (then 1%). Plus, you can earn unlimited 1% cash back on all other purchases. The welcome bonus is also unique: Discover will match any cash back you’ve earned during the first 12 billing cycles. So, if you earn $50 cash back at the end of the first year, Discover will give you an additional $50. This card requires a $200 security deposit, which is fairly standard for secured credit cards. It stands out from the crowd because it gives users a clear path to upgrading to an unsecured card (and getting their deposit back). Starting at eight months from account opening, Discover will review your account to see if you can get your security deposit back, which takes the guesswork out of wondering when you’ll qualify for an unsecured card. Read CNBC Select’s Discover it Secured review for more detail and check out CNBC Select’s best credit cards for bad credit.

Best credit cards for international travel Best for Credit card Estimated rewards earned after 5 years Winner American Express® Gold Card $2,719 No Annual Fee Wells Fargo Propel American Express® Card $2,120 Dining Capital One® Savor® Cash Rewards Credit Card $2,327 Hotels Capital One® VentureOne® Rewards Credit Card $1,699 Luxury Travel Chase Sapphire Reserve® $2,755 Bad Credit Discover it® Secured N/A

Our methodology

To determine which cards will put the most money back in your pocket, CNBC Select evaluated 127 popular rewards credit cards offered by major banks, financial companies and credit unions that allow anyone to join. We compared each card on a range of features, including travel rewards (points and miles), annual fee, welcome bonus, introductory and standard APR, one-time perks, annual perks, redemption rates, as well as factors such as required credit and customer reviews when available. CNBC Select teamed up with location intelligence firm Esri. The company’s data development team provided the most up-to-date and comprehensive consumer spending data based on the 2019 Consumer Expenditure Surveys from the Bureau of Labor Statistics. You can read more about their methodology here. Esri’s data team created a sample annual budget of approximately $22,126 in retail spending. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses. We then estimated how much the average consumer would redeem over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee. It’s important to note the value of a point or mile varies from card to card and based on how you redeem them. When we calculated the estimated returns, we assumed that cardholders are redeeming points/miles for a typical maximum value of 1 cent per point or mile. (Extreme optimizers might be able to achieve more value.) Our final picks are weighted heavily toward the highest five-year returns, since it’s generally wise to hold onto a credit card for years. This method also avoids giving an unfair advantage to cards with large welcome bonuses. While the five-year estimates we’ve included are derived from a budget similar to the average American’s spending, you may earn a higher or lower return depending on your travel habits.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.


Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: alexandria white
Keywords: news, cnbc, companies, travel, credit, best, annual, points, cards, purchases, cash, fee, rewards, card, international, 2020, bonus


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Charts flash warning for this travel stock ahead of earnings

Travel earnings are on deck this week, and it could give insight into how large an economic impact the coronavirus outbreak might have on the industry. Hilton Worldwide, which reported Tuesday morning, issued solid guidance but said the effect of the coronavirus was still unknown. Watch out for one of those, says Mark Newton, founder of Newton Advisors. It is fairly bearish technically just in the month of December,” Newton said on CNBC’s “Trading Nation” on Tuesday. “The stock moved down to the


Travel earnings are on deck this week, and it could give insight into how large an economic impact the coronavirus outbreak might have on the industry.
Hilton Worldwide, which reported Tuesday morning, issued solid guidance but said the effect of the coronavirus was still unknown.
Watch out for one of those, says Mark Newton, founder of Newton Advisors.
It is fairly bearish technically just in the month of December,” Newton said on CNBC’s “Trading Nation” on Tuesday.
“The stock moved down to the
Charts flash warning for this travel stock ahead of earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: keris lahiff
Keywords: news, cnbc, companies, trading, moved, think, ahead, economic, coronavirus, stocks, warning, newton, earnings, tatro, charts, higher, stock, flash, travel


Charts flash warning for this travel stock ahead of earnings

Travel earnings are on deck this week, and it could give insight into how large an economic impact the coronavirus outbreak might have on the industry.

Hilton Worldwide, which reported Tuesday morning, issued solid guidance but said the effect of the coronavirus was still unknown. TripAdvisor, Expedia and MGM could offer a better outlook when they report later this week.

Watch out for one of those, says Mark Newton, founder of Newton Advisors.

“TripAdvisor, in particular, has been a real laggard. It is fairly bearish technically just in the month of December,” Newton said on CNBC’s “Trading Nation” on Tuesday. “The stock moved down to the lowest monthly close we’ve seen since 2011 so it’s been in a pretty persistent downtrend.”

“It shows very little evidence thus far of any stabilization,” said Newton. “I think it’s a good likelihood it pulls back into the mid- to low-$20s in the weeks and months to come. So that’d be one specifically I would avoid.”

TripAdvisor moved 3.5% higher Tuesday, trading at around $29.65. It reports earnings Wednesday afternoon.

Quint Tatro, president of Joule Financial, said the entire group looks dangerous with the full economic damage of the coronavirus still a question mark.

“I think that investors have to be very careful. There’s a big allure any time you have some kind of headline risk like this to venture in and say ‘oh, these stocks are cheap here, look at these on a fundamental basis etc. etc.,'” Tatro said during the same segment. “When something like this happens that we have absolutely no idea how the future will play out, they just become no-touch for us.”

Tatro added that the airline stocks could be ones to consider once uncertainty lifts. United Airlines, Southwest, JetBlue, Delta and American Airlines were all higher Tuesday.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: keris lahiff
Keywords: news, cnbc, companies, trading, moved, think, ahead, economic, coronavirus, stocks, warning, newton, earnings, tatro, charts, higher, stock, flash, travel


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Treasury yields move higher ahead of Trump’s 2021 budget

U.S. government debt prices were lower Monday morning ahead of President Trump’s new budget proposal. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.5903%, while the yield on the 30-year Treasury bond was also higher at around 2.0524%. The death toll from the outbreak has reached 908 in mainland China and the total number of confirmed infections has hit 40,171 across the country. Businesses are still being affected by the outbreak tho


U.S. government debt prices were lower Monday morning ahead of President Trump’s new budget proposal.
ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.5903%, while the yield on the 30-year Treasury bond was also higher at around 2.0524%.
The death toll from the outbreak has reached 908 in mainland China and the total number of confirmed infections has hit 40,171 across the country.
Businesses are still being affected by the outbreak tho
Treasury yields move higher ahead of Trump’s 2021 budget Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-10  Authors: silvia amaro
Keywords: news, cnbc, companies, higher, president, treasury, outbreak, work, restrictions, budget, yields, yield, toll, trumps, 2021, lifted, ahead, travel


Treasury yields move higher ahead of Trump's 2021 budget

U.S. government debt prices were lower Monday morning ahead of President Trump’s new budget proposal. At 1:30 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.5903%, while the yield on the 30-year Treasury bond was also higher at around 2.0524%. President Donald Trump is due to present a new financial plan Monday. He is expected to cut foreign aid and reduce social safety-net programs for the fiscal year of 2021, provided that he is re-elected later this year.

Treasurys

In the meantime, traders continue to monitor the outbreak of the coronavirus. The death toll from the outbreak has reached 908 in mainland China and the total number of confirmed infections has hit 40,171 across the country. Businesses are still being affected by the outbreak though China has lifted some of the restrictions on work and travel. Airbnb, for example, has suspended bookings for all listings in Beijing until February 29. Chinese authorities lifted some coronavirus-related restrictions on work and travel, helping businesses resume work though overall sentiment was still jittery as the death toll from the epidemic climbed

Data, auctions


Company: cnbc, Activity: cnbc, Date: 2020-02-10  Authors: silvia amaro
Keywords: news, cnbc, companies, higher, president, treasury, outbreak, work, restrictions, budget, yields, yield, toll, trumps, 2021, lifted, ahead, travel


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Here’s how to save money on Valentine’s Day with your credit card

Treating your significant other to a new piece of jewelry or a special meal can come at a high cost, but if you use the right credit card, it’s easy to save some money. Below, CNBC Select reviews several ways a credit card can help you save money on Valentine’s Day expenses. Redeem credit card rewardsUse annual dining and travel statement creditsSome credit cards offer annual statement credits for travel or dining purchases that can add up to big savings. read more Information about the Capital


Treating your significant other to a new piece of jewelry or a special meal can come at a high cost, but if you use the right credit card, it’s easy to save some money.
Below, CNBC Select reviews several ways a credit card can help you save money on Valentine’s Day expenses.
Redeem credit card rewardsUse annual dining and travel statement creditsSome credit cards offer annual statement credits for travel or dining purchases that can add up to big savings.
read more Information about the Capital
Here’s how to save money on Valentine’s Day with your credit card Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-08  Authors: alexandria white
Keywords: news, cnbc, companies, purchases, travel, card, balance, rewards, apr, money, valentines, fee, cards, day, heres, annual, save, credit


Here's how to save money on Valentine's Day with your credit card

Valentine’s Day is right around the corner, and this is the weekend to sort out your plans. Treating your significant other to a new piece of jewelry or a special meal can come at a high cost, but if you use the right credit card, it’s easy to save some money. More than half (55%) of Americans plan on celebrating Valentine’s Day and expect to spend an average $196.31 on various gifts, cards, candy and flowers for their significant other, family, friends, pets and more. That’s a 21% increase from 2019, according to the annual survey from the National Retail Federation and Prosper Insights and Analytics. Below, CNBC Select reviews several ways a credit card can help you save money on Valentine’s Day expenses.

Redeem credit card rewards

Use annual dining and travel statement credits

Some credit cards offer annual statement credits for travel or dining purchases that can add up to big savings. Here are some of our favorite offers: Chase Sapphire Reserve® : Up to $300 annual credit for travel expenses, such as airfare, hotels, parking and tolls

Up to $300 annual credit for travel expenses, such as airfare, hotels, parking and tolls American Express® Gold Card : Up to $100 annual airline fee credit for incidentals, such as seat upgrades and in-flight food and drinks, after one-time activation; up to $120 annual dining credit ($10 a month) at select restaurants, such as The Cheesecake Factory and Shake Shack

Up to $100 annual airline fee credit for incidentals, such as seat upgrades and in-flight food and drinks, after one-time activation; up to $120 annual dining credit ($10 a month) at select restaurants, such as The Cheesecake Factory and Shake Shack Citi Prestige® Card: Up to $250 annual credit for travel expenses, including airlines, hotels and car rental agencies To take advantage of these credits, simply charge eligible purchases to your card and expect to receive the credit on your account within a few weeks (though it often comes sooner).

Search for exclusive shopping discounts

Many credit cards offer exclusive shopping discounts on eligible spending that typically give you either a percentage or set dollar amount of cash back, credited to your account. Offers may provide a credit for spending a certain amount at a restaurant or bonus rewards at select retailers. If you play your cards right, you can rack up various shopping and dining discounts you can take advantage of this Valentine’s Day. Just keep in mind that you must activate the offers before making a purchase. Offers vary based on location and are usually only available for a certain period of time. There are typically minimum spending requirements and maximum earning benefits. Card issuers that provide these offers include American Express, Chase and Bank of America.

Take advantage of special financing offers

If you plan on making a big purchase for Valentine’s Day that you can’t afford to pay off right away, it may be in your best interest to charge it on a 0% APR card. Credit cards with intro 0% APR periods can offer no interest for over a year, which helps you pay off a balance without incurring interest charges. Before opening a 0% APR card and making a large purchase, make sure you have a repayment plan in place and that the purchase isn’t outside of your budget. You should aim to pay off your balance in full before the intro 0% APR period ends. Here are some intro 0% APR cards, which also have no annual fee and offer rewards.

Chase Freedom Unlimited® Card Apply Now Rewards 1.5% cash back on every purchase

Welcome bonus $150 cash back after you spend $500 on purchases in your first 3 months from account opening

Annual fee $0

Intro APR 0% for the first 15 months on purchases and balance transfers

Regular APR 16.49% to 25.24% variable on purchases and balance transfers

Balance transfer fee 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a $5 minimum. After, 5% ($5 minimum).

Foreign transaction fee 3%

See our methodology, terms apply. On Chase’s secure site

Capital One® VentureOne® Rewards Credit Card Learn More Rewards 5X miles on hotel and rental cars booked through Capital One Travel℠, 1.25X miles per dollar on every purchase

Welcome bonus 20,000 bonus miles once you spend $1,000 on purchases within the first 3 months from account opening

Annual fee $0

Intro APR 0% APR for 12 months

Regular APR 13.49% to 23.49% variable

Balance transfer fee 3% for promotional APR offers; none for balances transferred at regular APR

Foreign transaction fee None

Credit needed Excellent/Good

See our methodology, terms apply. read more Information about the Capital One® VentureOne® Rewards Credit Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

Wells Fargo Propel American Express® Card Learn More Rewards 3X points on dining out and ordering in; gas, rideshares and transit; flights, hotels, homestays and car rentals; and popular streaming services. 1X points on all other purchases

Welcome bonus 20,000 bonus points when you spend $1,000 in purchases in the first 3 months

Annual fee $0

Intro APR 0% APR for 12 months on purchases and qualifying balance transfers

Regular APR 15.49% to 27.49% variable

Balance transfer fee Introductory fee of 3% ($5 minimum) for 120 days, then 5% ($5 minimum)

Foreign transaction fee None

Credit needed Excellent/Good

Terms apply. read more Information about the Wells Fargo Propel American Express® Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

Information about the Capital One® Savor® Cash Rewards Credit Card, Citi Prestige® Card, Capital One® VentureOne® Rewards Credit Card, and Wells Fargo Propel American Express® Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the cards prior to publication.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.


Company: cnbc, Activity: cnbc, Date: 2020-02-08  Authors: alexandria white
Keywords: news, cnbc, companies, purchases, travel, card, balance, rewards, apr, money, valentines, fee, cards, day, heres, annual, save, credit


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How to make the most of your hotel points

Maximizing your hotel points can mean a more luxurious overnight stay on your next adventure. Co-branded hotel credit cards offer points that can be redeemed for stays at a variety of properties in a specific hotel chain’s portfolio. “You also don’t have to focus on a hotel-branded credit card in order to get points that can be used for hotel stays. That means if you have 1,000 points it’s worth 1,000 partner hotel points. For those looking to book a big trip with their significant other, hotel


Maximizing your hotel points can mean a more luxurious overnight stay on your next adventure.
Co-branded hotel credit cards offer points that can be redeemed for stays at a variety of properties in a specific hotel chain’s portfolio.
“You also don’t have to focus on a hotel-branded credit card in order to get points that can be used for hotel stays.
That means if you have 1,000 points it’s worth 1,000 partner hotel points.
For those looking to book a big trip with their significant other, hotel
How to make the most of your hotel points Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-08  Authors: elizabeth gravier, alexandria white
Keywords: news, cnbc, companies, hotels, transfer, credit, cards, stay, rewards, hotel, card, points, travel


How to make the most of your hotel points

Maximizing your hotel points can mean a more luxurious overnight stay on your next adventure. Co-branded hotel credit cards offer points that can be redeemed for stays at a variety of properties in a specific hotel chain’s portfolio. Meanwhile, general travel credit cards offer flexibility to stay at different hotels. Below, CNBC Select reviews five ways you can maximize your hotel rewards.

How to make the most of your hotel points

Choose the right card Review reward transfer ratios and travel portals Take advantage of free nights and other hotel offers Be flexible with travel dates and hotels Don’t let your points go to waste

1. Choose the right card

If you’re loyal to a particular hotel chain, using a hotel-specific card can earn you increased rewards, free stays and complimentary room upgrades at a variety of properties. In addition, many hotel cards offer annual statement credits on resort purchases, free lounge access, complimentary loyalty membership and travel protections. All of these perks usually come with a high annual fee, yet it can be worthwhile for frequent travelers. But even if you favor one hotel chain versus another, a travel credit card may be a better choice than a hotel-specific card. With a travel card, you can earn the same number of rewards on all hotel purchases, regardless of whether you stay at a Marriott or a Hilton, and you can also benefit from general travel discounts, such as annual travel credits, travel insurance and no foreign transaction fees. “Pick a hotel card that’s currently spiking in its offer and that also aligns with the brand of hotels at which you’d actually want to stay,” Erin Lowry, founder of Broke Millennial, tells CNBC Select. “You also don’t have to focus on a hotel-branded credit card in order to get points that can be used for hotel stays. Plenty of cards offer points that can be used to book airfare or toward hotels, which gives you more flexibility.” For example, with the no-annual-fee Capital One® VentureOne® Rewards Credit Card, you can earn 5X miles on any hotel booked through Capital One Travel℠.

2. Review reward transfer ratios and travel portals

General travel credit cards often let you transfer points to book certain hotels. The value of one point varies, but the card issuer discloses the transfer rate on its website. The best travel cards offer at least a 1:1 ratio. That means if you have 1,000 points it’s worth 1,000 partner hotel points. If your card has a transfer ratio less than the 1:1 rate, consider paying upfront for your hotel stay and using your rewards for other things. If you have a Chase credit card, such as the Chase Sapphire Preferred® or Chase Sapphire Reserve®, you’ll benefit from a 1:1 transfer ratio on leading airline and hotel loyalty programs. But the value of points increases 25% to 50%, respectively, when you redeem for travel on the Chase Ultimate Rewards® portal. As a result, it may make more sense to book hotel stays through the Ultimate Rewards portal. Chase cardmembers also have access to the Luxury Hotel & Resort Collection (LHRC) to book rooms and take advantage of upgrades upon arrival, complimentary meals, flexible check-in times, extra amenities and special discounts. American Express has its own luxury hotel program, Fine Hotels & Resorts, where Platinum Card® members receive a suite of benefits at over 1,000 properties worldwide. With the Amex travel portal, American Express® Gold cardholders get up to $100 in hotel credits when booking rooms through The Hotel Collection with American Express Travel. In addition to the point rewards, there are also special travel perks, such as room upgrades at specific hotels and special travel discounts and amenities for those who enroll with The Travel Collection by Travel Leaders Group at no extra cost.

3. Take advantage of free nights and other hotel offers

Some hotel cards offer a complimentary night stay on top of an extensive suite of perks for loyal guests. “Before you book, check the special offers,” Ramit Sethi, personal finance coach and best-selling author of “I Will Teach You To Be Rich,” tells CNBC Select. “I recently stayed at a hotel for three nights and got a fourth night free.” A card like the Marriott Bonvoy Brilliant™ American Express® Card offers premium travel benefits at Marriott properties as well as competitive rewards. The card comes with a steep $450 annual fee, but the benefits help to offset that cost. Every year, cardholders receive a $300 statement credit toward incidentals, including charges at restaurants, spas and other establishments within Marriott Bonvoy hotels. This is a great way to cover the cost of room service, a massage or other perks during your hotel stay. And guests staying two nights or more at the Ritz-Carlton® or St. Regis® properties get an additional $100 property credit.

4. Be flexible with travel dates and hotels

When it comes to booking your next trip, make your reservations well in advance to lock in a better redemption rate. If you can, avoid peak times, such as holidays, and be flexible with your travel dates to have more redemption options. Of course, your points will go a lot further at less fancy hotels, and when traveling to big cities or popular tourist destinations, you often have a wealth of options to choose from. For example, if you’re booking a getaway trip to New Orleans, rather than using the points you earned with your Hilton Honors Aspire Card from American Express to stay at The Roosevelt New Orleans, A Waldorf Astoria Hotel, use your points at the Homewood Suites by Hilton, which is actually closer to the French Quarter. Not only will this translate to spending less points per night, but that means you can probably stay a night or two longer for the same cost.

5. Don’t let your points go to waste

Just because you just haven’t racked up enough points to score any redemptions, don’t let the points you have earned go to waste. There are a number of hotel-specific cards that allow you to combine points with another cardholder. If you frequent Hyatt hotels and want to benefit from enhanced loyalty membership, you might want to consider The World of Hyatt Credit Card. With Hyatt, you can combine points with any other World of Hyatt member at no additional cost. Two members are eligible to combine points to redeem an award. Keep in mind, members can only transfer or receive points once every 30 days. For those looking to book a big trip with their significant other, hotel cards that combine points could be a good route. And it doesn’t hurt to ask for more. “If you’re traveling for a special occasion like an anniversary, email the manager ahead of time,” Sethi says. “They’ll often give you a special amenity. And remember, the goal is not to accumulate points — it’s to create meaningful experiences. Sometimes it’s worth saving points up to spend them on something absolutely amazing that you wouldn’t ordinarily go for.” Information about the Capital One® VentureOne® Rewards Credit Card and Hilton Honors Aspire Card from American Express has been collected independently by CNBC and has not been reviewed or provided by the issuer of the cards prior to publication.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.


Company: cnbc, Activity: cnbc, Date: 2020-02-08  Authors: elizabeth gravier, alexandria white
Keywords: news, cnbc, companies, hotels, transfer, credit, cards, stay, rewards, hotel, card, points, travel


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