Open a BMO Harris Premier™ Account online and get a $500 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days of account opening. Expires 9/15. Conditions Apply.
As online banks grow in number and become more sophisticated, more and more small-business owners are asking themselves whether a traditional bank or credit union account makes sense anymore. Unless you just can’t live without the peace of mind that comes with being able to walk into a physical bank branch, the value is less and less clear.
Axos Business Interest Checking certainly gets this. It’s a full-service small-business bank account that puts Axos Bank’s considerable banking know-how at your disposal without ever asking you to visit a physical branch. It pays interest at competitive rates too.
That said, Axos Business Interest Checking has some significant downsides, starting with a monthly maintenance fee that requires a hefty ongoing balance to waive. Before you open an account, make sure you understand the good and the bad.
What Is Axos Business Interest Checking?
Axos Business Interest Checking is a small-business checking account with a $10 monthly maintenance fee. Axos Bank waives the fee in any statement cycle where you maintain a daily balance of at least $5,000.
Axos Business Interest Checking pays up to 1.01% APY on balances up to $20,000. Amounts above this threshold earn interest at far lower rates, but all balances have at least some yield.
Axos Business Interest Checking has some other notable features, including unlimited domestic ATM fee reimbursements, 50 free paper checks when you open your account, and external integration with QuickBooks accounting software. However, there’s a limit of 50 free transactions per month, so it can quickly get expensive for high-volume users.
What Sets Axos Business Interest Checking Apart?
Axos Business Interest Checking stands out for several reasons:
Competitive yield on eligible balances. This account yields 1.01% APY on balances up to $20,000. Balances above this amount pay less interest, but every dollar earns something. That’s unusual for a business checking account.
Free paper checks. This account comes with 50 free paper checks, which should be plenty for most business owners these days.
Unlimited ATM fee reimbursements. There’s no limit to the number or dollar value of ATM fees Axos reimburses with this account. If your business does lots of cash transactions, this is a critical benefit.
50 free transactions per month. You can only complete 50 transactions (including debits, credits, and deposits) each month before incurring a $0.50 fee per transaction. There’s a separate limit of 60 free remote check deposits per month, but that doesn’t solve the fundamental problem of being able to use your debit card less than twice per day on average before paying a surcharge.
Key Features of Axos Business Interest Checking
Axos Business Interest Checking has some important limitations and restrictions, along with some potentially useful features.
Account Fees & Waiver Requirements
This account has a $10 monthly maintenance fee. It’s waived in any statement cycle where you maintain a daily balance of at least $5,000.
Minimum Deposit & Balance Requirements
You need to deposit at least $100 when you open your account. There’s no ongoing minimum balance requirement, but the monthly fee is $10 unless you keep at least $5,000 in the account at the close of business each day.
Account Yield
Axos Business Interest Checking earns 1.01% APY on balances up to $20,000. Amounts above this threshold earn between 0.10% and 0.20% APY, but there’s no maximum balance to earn interest.
ATM Access
Axos Bank reimburses domestic ATM fees without any limits. You may still pay a surcharge if you use your debit card at an ATM outside the United States.
Transaction Limits
You’re entitled to 50 free transactions (debits, credits, and deposits) per month. After that, there’s a $0.50-per-transaction surcharge. Remote check deposits don’t count toward this limit; you get 60 of those free each month.
Paper Checks
You get 50 free paper checks when you open your account. Check reorders may incur fees, depending on the number and type of checks.
External Integrations
Axos Business Interest Checking integrates with the QuickBooks accounting platform. You can import your checking account activity into QuickBooks whenever you need to.
Business Services
As a full-service business bank, Axos offers a range of services for small and midsize companies, such as treasury management (for more complicated financial needs), payment processing assistance and other merchant services, SBA lending, and relationship manager access during extended business hours. Everything is available online; no need to walk into a branch.
Mobile Features
Axos Bank has a powerful mobile app that’s well-reviewed by verified users. For Business Interest Checking customers, it can do anything the desktop interface can, and it’s a useful hub for your Axos experience if you have more than one account with the bank. Notable capabilities include:
Mobile check deposit
Person-to-person payments
Scheduled and recurring bill payments
Secure messaging with relationship managers
Deposit Insurance
Axos Business Interest Checking comes with FDIC insurance up to the current limit of $250,000. If Axos Bank fails, the federal government protects balances up to this amount.
Pros & Cons
Axos Business Interest Checking has some clear upsides and some just-as-obvious downsides.
Competitive interest rate on eligible balances
Unlimited domestic ATM fee reimbursements
Full suite of business banking services
$10 monthly fee without waiver
No rewards program
Tight monthly transaction limits
Pros
Axos Business Interest Checking is an interest-bearing checking account with some potentially valuable perks.
Competitive interest rate. Axos Business Interest Checking has one of the better interest rates of any business checking account. It’s right up there with the top consumer high-yield checking accounts.
Unlimited domestic ATM fee reimbursements. Axos Bank reimburses U.S. ATM fees without any dollar value or transaction caps. This is a big advantage over business bank accounts that limit reimbursements or don’t offer them at all.
Free paper checks when you open your account. You get 50 free paper checks when you open your account, which should be enough to see you through weeks if not months of regular business.
Full suite of business services without an in-person appointment. Unlike many online business banks, Axos Bank is a full-service financial institution with loan officers, treasury management specialists, and other human banking experts.
Cons
Axos Business Interest Checking is missing some important features and isn’t particularly friendly to budget-conscious entrepreneurs.
No rewards program. This account has no debit card rewards program and no real purchase perks. In other words, there’s no way to earn a return on everyday business spending.
Tight limits on free monthly transactions. You get just 50 free transaction per month with this account. After that, each transaction costs $0.50. The one exception is remote check deposits, which come with their own limit of 60 per month. But any transaction limits at all are unwelcome in a small-business account (and increasingly uncommon in the space).
$10 monthly maintenance fee without waiver. This account has a $10 monthly maintenance fee. To get it waived, you need to maintain a minimum daily balance of $5,000, which could be tough for very small businesses.
Limits on external integrations. This account has just one external integration of note: QuickBooks. Many otherwise similar accounts integrate with a dozen apps or more, spanning e-commerce, workplace productivity, payments, and other important business processes.
How Axos Business Interest Checking Stacks Up
Before you apply for an Axos Business Interest Checking account, see how it compares to similar small-business checking accounts. Novo Business Checking offers an illuminating head-to-head.
Axos Business Interest Checking
Novo Business Checking
Monthly Fee
$10
$0
Monthly Fee Waiver
$5,000 minimum daily balance
Not needed
Minimum Balance
$100 to open, $0 ongoing
$50 to open, $0 ongoing
Integrations
Yes, QuickBooks only
Yes, about a dozen including Stripe, Amazon, and Shopify
Invoicing
No
Yes, built into the app
Budgeting Tools
No
No
Yield
Up to 1.01% APY
None
ATM Access
Unlimited in the U.S.
Unlimited worldwide
Axos Business Interest Checking’s biggest advantage is its yield on all balances (and its very competitive yield on balances up to $20,000). Elsewhere, Novo Business Checking offers better value thanks to built-in invoicing tools, a dozen third-party integrations, and no monthly fee.
Final Word
There’s more to Axos Business Interest Checking than the typical online small-business checking account. That’s mainly down to Axos Bank’s full spectrum of business banking services rather than anything special about this account itself.
In fact, Axos Business Interest Checking has some important downsides that should give you pause. The monthly fee and transaction limits are problematic for cash-strapped and high-volume businesses, respectively, and this account lacks some potentially useful features (like extensive third-party software integrations) found elsewhere. Axos Business Interest Checking could be the best business banking option for you, but be sure to see what else is out there before deciding for sure.
The Verdict
Our rating
Axos Bank Business Interest Checking
Axos Bank Business Interest Checking is an excellent choice for business owners looking to earn interest on day-to-day balances while benefiting from direct access to human banking professionals. Unlimited domestic ATM withdrawals and 50 free paper checks don’t hurt either. But this account has some glaring downsides, like tight transaction limits and no debit card rewards, so it’s worth seeing what else is out there before applying.
Editorial Note:
The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.
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Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he’s not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.
Banking
4 Different Types of Bank Accounts Explained
Choosing your first bank account isn’t always simple. There are loads of new bank account offers to choose from, each promising different features and perks. How can you tell which one is right for you? Learn about the different types of bank accounts and the key benefits and drawbacks of each.
Not all hotel loyalty programs reward their most loyal customers equally. However, World of Hyatt offers perhaps the best hotel elite status you can earn in the form of its top-tier Globalist status.
Globalist members can enjoy suite upgrades at most brands, complimentary breakfast for each registered guest (up to two adults and two children), access to lounges, waived resort fees, free parking on award nights, bonus points and more.
Having Globalist status can significantly enhance your Hyatt stays, making them more comfortable and affordable.
In short, World of Hyatt’s Globalist status is an outstanding elite status. So, let’s look at the top reasons why we love Hyatt Globalist status.
Bonus points
World of Hyatt members without any elite status earn 5 base points per eligible dollar spent. However, World of Hyatt Globalist members receive a 30% bonus on eligible purchases, meaning they earn 6.5 points per dollar on eligible purchases with Hyatt. Those bonus points can add up and turn into a sweet luxury vacation.
Related: 5 easy ways to maximize Hyatt award redemptions
Complimentary breakfast
Free breakfast is high on travelers’ preferences regarding hotel elite status benefits. While Hyatt’s competitors generally provide their top elite members with a continental breakfast, Hyatt Globalist provides a completely different breakfast experience.
Whether you’re paying with cash or redeeming points, Hyatt Globalist members are treated to a complimentary full breakfast for up to two adults and two children registered in the room at most properties.
While each Hyatt property may have its own approach, you can usually expect to enjoy a full, hot breakfast in the hotel restaurant. At some Hyatt properties, you may even have the option to enjoy your complimentary breakfast through room service at no extra cost.
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Related: Which hotel has the best free breakfast? TPG ate 10 meals to find the winner
Club lounge access
As a World of Hyatt Globalist elite member, you’ll usually receive complimentary full breakfast at their properties unless the hotel has a club lounge. In that case, your Globalist status grants you access to the club lounge, where you can generally enjoy breakfast and evening snacks at no additional cost. Some club lounges even offer complimentary evening cocktails.
While not all Hyatt properties have club lounges, you’ll often find them at Hyatt Regency and Grand Hyatt locations. However, the quality of club lounges varies greatly. In our experience, lounges outside the U.S. often offer better food and a larger selection of complimentary drinks.
Even without World of Hyatt Globalist status, you could still gain access to the club lounge during an upcoming Hyatt stay. For example, you might have club access certificates you earned as Hyatt milestone rewards. You can also book lounge access rooms using additional points or cash at some hotels.
Related: How to redeem Hyatt points for upgraded rooms and suites
Suite upgrades
World of Hyatt Globalist members have several routes to secure complimentary upgrades to suites.
Firstly, as a Globalist member, you are eligible for complimentary space-available standard suite upgrades during check-in. This is similar to airline elite members receiving space-available first-class upgrades.
The second and more reliable method for Globalist members to secure suites is using Hyatt upgrade certificates in advance. Through the Hyatt milestone rewards program, you’ll receive two suite upgrade certificates when you reach 50 elite-qualifying nights or 80,000 base points with Hyatt in a calendar year. You’ll also get two more suite upgrade certificates when you reach 60 elite-qualifying nights or 100,000 base points in a calendar year. Each certificate allows you to upgrade a standard room reservation, booked with points, cash or eligible rates, to a standard suite reservation at no extra cost for up to a seven-night stay.
To determine which suites qualify for a suite upgrade certificate, carefully review the room descriptions on the individual hotel websites. In particular, look for the “standard suite” terminology in the suite’s description. The ability to secure a suite far in advance for a special trip is an exceptional perk offered by Hyatt’s loyalty program that is unmatched by other major hotel programs.
Related: How Hyatt and American loyalists can earn more rewards by linking accounts
Waived resort fees
Travelers universally dislike hotel resort fees, and it’s no wonder why.
Fortunately, Hyatt offers a simple way to avoid these fees: All World of Hyatt members can enjoy waived resort fees when redeeming points or free night awards.
World of Hyatt Globalist members enjoy waived resort fees on all eligible stays booked directly with Hyatt, whether paid with points, cash or a combination of both. This can be a significant saving, especially for those frequently staying at high-end hotels and resorts.
To illustrate, a five-night cash reservation at the stunning Grand Hyatt Kauai in Hawaii typically comes with $265 in resort fees. However, you would be exempt from these fees if you are a World of Hyatt Globalist member.
Related: Here are ways to avoid paying resort fees
Free parking
Some Hyatt properties offer free parking, but high-end or urban properties often charge for it. For example, parking costs $55 per night at Park Hyatt Beaver Creek, while parking at Park Hyatt New York costs $90 per night.
Globalist members can avoid these parking charges if they book an award stay using points or an award certificate. This benefit does not apply to cash reservations or stays booked with a combination of points and cash. Additionally, if a third party owns the hotel’s parking lot, you may be subject to parking fees even if you use points or an award certificate.
Related: Hyatt Globalist members get free parking on award stays
Hyatt Guest of Honor
Hyatt Globalist status comes with valuable perks you may want to share with your friends and family through the Guest of Honor program.
As a Globalist, you can use your points to book an award stay for someone else. Your standard Globalist benefits, like free breakfast, waived resort fees and suite upgrade eligibility, will be transferred to your guest. It’s important to note that the booking must be an award stay, as the Guest of Honor program does not apply to paid stays.
Related: How to give (or receive) top-tier Globalist perks with World of Hyatt Guest of Honor
Elite check-in and late checkout
As a Globalist, you get priority access to available rooms at participating hotels if you arrive at your destination before the standard check-in time. Participating locations may also offer a dedicated area for elite members to check in.
On the day you check out, Globalist members can typically request a 4 p.m. late checkout, which can be helpful if you want to spend extra time in your room before heading out.
Late checkout is subject to availability (and hence not guaranteed) at hotels with a casino, Hyatt resorts and Destination Residences. Also, late checkout isn’t offered at Hyatt Residence Club resorts. Nevertheless, it’s worth asking for late checkout politely if you need it. Make sure to mention your World of Hyatt status to the front desk when making the request, as doing so can increase your chances of enjoying more time at the property.
Related: How and when to ask for late checkout at a hotel
How to earn Hyatt Globalist status
To secure Hyatt Globalist status, you must accrue 60 eligible nights or 100,000 base points in your World of Hyatt account within a calendar year. You can also earn Globalist status by organizing 20 or more eligible meetings or events in a calendar year.
Unlike Hilton Diamond status and Marriott Platinum Elite status, no credit card is available that automatically grants Hyatt Globalist status. It can be challenging to earn Globalist status unless you frequently travel, but there are ways to make it easier.
Both paid and award nights count toward 60 nights per year for Globalist status, and the World of Hyatt Credit Card can expedite your progress. You receive five tier-qualifying night credits toward status each calendar year by simply having the card. Additionally, for every $5,000 charged to the card, you earn two tier-qualifying night credits toward the year you spent the money. Best of all, there are no limits on the number of tier-qualifying night credits you can earn through spending on your card.
Related: 5 easy ways to qualify for Hyatt Globalist status
Bottom line
Once you’ve enjoyed the perks of Hyatt Globalist elite status, it’s hard to let those luxuries go. With free breakfast, suite upgrades, late checkout, waived resort fees, bonus points and more, Hyatt Globalist status is a hotel elite status worth having if you can find a way to make it happen.
Additional reporting by Benét Wilson and Kyle Olsen.
It’s wise to periodically look at the credit cards you hold and gauge the value they provide. Sometimes, cards you may have opened for specific benefits stop being useful. And other times, bonus categories can become less (or more) valuable if there’s a shift in your spending habits. If you’re paying an annual fee, a card you no longer use may not be worth keeping.
However, before you make a final decision to cancel or downgrade as your card renewal approaches, you should talk to a customer representative to see if you can score a retention offer that makes the card worth keeping for another year.
Here’s what you need to know about these valuable incentives to hold onto your top credit cards.
What are retention offers?
Once a credit card issuer has spent hundreds of dollars (with a welcome bonus in cash back, points or miles) to entice you to open a card, it needs to find a way to recoup that investment. If you close your card after only a year or two — especially if you aren’t using it regularly — the issuer will likely lose money on you.
So some (but not all) issuers will extend targeted retention offers to encourage customers to keep a card open longer. These offers can take the form of bonus points, statement credits, reductions or outright waivers of an annual fee — anything that helps persuade you to keep the card open (and, in the issuer’s eyes, keep spending on the card).
For example, multiple cardholders of The Platinum Card® from American Express have reported the $695 annual fee (see rates and fees) being partially waived with a statement credit, or they were offered a points bonus when they call or chat using the app to tell a representative that they are considering canceling. One TPG reader has told us they got an offer for $95 credit after spending $95 on the Citi Premier® Card (see rates and fees).
While you’re not guaranteed a retention offer just because you ask for one, it’s not uncommon to receive one when you know how to do it.
Related reading: Here’s why you should never close your credit cards before the one-year mark
How to ask for a retention offer
One common misconception about retention offers is that you can only get them if you’re trying to close a card. Indeed, you’ll generally have the most success asking for a retention offer right around the time your annual fee posts (since that’s when many people decide to cancel a card), but you can try your luck at any time.
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Related reading: My Amex Platinum retention bonus: 20,000 Membership Rewards points
With more companies using automated systems, how you phrase your request is very important. Instead of saying, “I’d like to close my credit card” and hoping the agent makes you an offer, you need to say, “I’m considering closing my card,” or, “I’m not sure I want to keep paying the annual fee on my card.” I’ve heard horror stories of people who said they wanted to close their card, and the automated system shuttered the account before they could ever speak to a human being about it.
Each issuer handles retention offers differently. Some, like American Express, have a dedicated retention department to which you can ask to be transferred. You can also use the chat feature online or on the mobile app with Amex. For other cards, a front-line customer service representative might be able to help you. You can adapt the script to suit your own needs, but my calls or online chats usually go something like this:
“Hi, I noticed that the annual fee on my ______ card just posted, and I’m really not sure I can justify paying it for another year. I really like (insert your favorite benefits), but I’m just not sure about this annual fee. I was wondering if you could check if there were any retention offers available on my account that might help me make up my mind?”
At this point, you can expect the corporate marketing to kick in, and the agent will read you some talking points about why the card is so great and worth keeping. You’ll need to deflect, which you can do by bringing the discussion back to the annual fee you don’t want to pay.
Try mentioning that you have other cards with similar perks (especially if you have multiple Marriott, Delta or Hilton cards, for example), or consider saying that you don’t find yourself spending much on the card. Remember, at no point should you actually say, “I want to close the card” — only that you’re thinking about it.
This is purely anecdotal, but I’ve found American Express to be the most generous with retention offers. I’ve received retention offers on three Amex cards in the past year. Chase rarely gives them out (though it’s more common on cobranded Chase cards than the issuer’s Ultimate Rewards-branded cards). As a data point, I was denied a retention offer on my Chase Sapphire Reserve and decided to downgrade it. Other card issuers may do so, but much less frequently.
What types of offers are there?
Depending on the issuer, there are three different offers you might receive:
Annual fee reduction or waiver: Depending on the card, this can be as good as cash. Even if you don’t plan to use the card much, if you get an annual fee waiver, you can keep the card open for another year, which could boost your credit score. When you factor in perks like statement credits or elite status, an annual fee reduction may be enough to push the card past its break-even point.
Bonus points or miles: Sometimes you’ll be awarded points for agreeing to keep the account open, though more often than not it will be an offer similar to an initial welcome bonus: spend a certain amount of money in a specified period to earn bonus rewards.
Statement credits: Same as above, sometimes applied directly to the account but more often come with a spending requirement.
It goes without saying that the more you spend on a card, the more likely you are to receive an offer. Issuers want to keep their most valuable customers. Sometimes you might even be given a choice between a statement credit or bonus points, in which case you can quickly pull up TPG’s monthly valuation series and decide which offer is better.
As an example, I recently received a retention offer on my Amex Platinum after saying I didn’t feel like I was receiving good value from all of the benefits to justify the high annual fee. I was given the choice between 40,000 Membership Rewards points after spending $3,000 in the next three months, a $400 statement credit for $3,000 in spending or a $150 statement credit with no spending requirement. TPG values those 40,000 points at $800, so it was a no-brainer for me to pick the 40,000 points.
Some TPG staffers also shared some retention offers they’ve received recently:
Marriott Bonvoy Brilliant® American Express® Card: “I got an offer of 20,000 points for $2,000 in spending in three months — was hoping for a bit more since I was on the fence about keeping the card but decided to keep it for one more year!” — Becca Manheimer, senior director of marketing and communications
The Platinum Card® from American Express: “Renewal came up, and they offered a $150 statement credit.” — Tom Grahsler, director of video
Marriott Bonvoy Business® American Express® Card: “I was given the option to earn a $200 statement credit for adding an authorized user and spending $2,000 on the card in the next six months — effectively a return of 10%.” — Nick Ewen, director of content
The Platinum Card® from American Express: “I had just one offer, which was 50,000 Membership Rewards points after spending $4,000 in the next three months, so I immediately jumped on it! — Danyal Ahmed, credit card writer
Bottom line
Every time an annual fee hits on one of your cards, you have to make the decision to keep it open, downgrade or cancel it. Even if you think you know what you want to do, you can’t be sure until you have all the information in front of you.
Spending five to 10 minutes on the phone might net you enough points for a one-way flight to Europe or South America on a card you already wanted to keep open. In terms of pure return on time, there aren’t many deals better than that.
For rates and fees of the Amex Platinum, please click here.
Additional reporting by Danyal Ahmed, Ethan Steinberg and Madison Blancaflor.
Some of the forecasters who were first out of the box to predict a U.S. recession are starting to hedge their bets as inflation ebbs and the economy remains resilient.
Deutsche Bank Vice Chair of Research Peter Hooper and Fannie Mae chief economist Doug Duncan now say it’s essentially a toss-up whether the economy suffers a recession or enjoys a soft landing and keeps growing, though both still believe a downturn is more likely than not.
Nomura Securities International senior economist Aichi Amemiya is also sticking by his firm’s recession forecast, though he added, “it’s getting to be a close call.”
The sentiment was echoed in Bloomberg’s July survey of economists, in which estimates for gross domestic product were revised higher for the second and third quarter. However, forecasters still say there’s a 60% chance the U.S. will fall into recession in the next 12 months.
Duncan said housing starts and home prices have been stronger than expected, providing the economy with support. Amemiya also referenced the strength of new automobile sales.
Paradoxically, Hooper credits the Federal Reserve’s steep rate hiking campaign for the reduced risk of a recession. That’s helped re-anchor inflation expectations, increasing the chances price pressures can ease without a meaningful decline in the economy.
Economists surveyed by Bloomberg are growing more optimistic as inflation cools. The personal consumption expenditures price index — the Fed’s preferred inflation metric — is seen rising 2.2% in the final quarter of 2024, according to the July survey. Last month, economists expected 2.3%.
Excluding food and energy, the so-called core PCE price index will likely moderate through the first half of next year by more than predicted last month. Economists also see the consumer price index cooling faster through the end of next year.
The survey of 73 economists, conducted from July 14-19, was taken just after the latest CPI report showed the U.S. inflation rate slid in June to a more than two-year low. That prompted many traders to bet that next week’s expected interest-rate hike by the Fed will be the last of this cycle.
“The Fed is likely to skip September after a July hike. The next opportunity in November will likely take place against the background of a recession, as real rates become more restrictive,” Philip Marey, senior U.S. strategist at Rabobank, said in a survey response. “Therefore, we do not expect the second hike in the dot plot to materialize.”
Economists in the survey also now expect fewer rate cuts from the Fed next year.
When the Wander Card debuted in 2021, its issuing bank was quick to point out that it’s not a “typical travel credit card” that involves miles, luxury lounges or lavish vacations. And while all that’s true, note that it charges the same annual fee as credit cards that have those perks.
Issued by Credit One (not to be confused with Capital One), the Wander Card does stand out, however, as one of the only travel credit cards available to those with fair credit — aka average credit — an underserved market that typically includes those with FICO scores of 630 to 689. Most travel credit cards from major players like Chase, American Express and Citi require at least good credit, meaning scores of 690 or higher.
If you meet that threshold and don’t mind paying an annual fee in exchange for valuable travel rewards and perks, you can pass on the Wander Card. You’ll get much more out of other similarly priced travel cards.
Here are five things to know about the Credit One Wander Card.
1. It has an annual fee typical of travel credit cards
The Wander Card carries a $95 annual fee, which is assessed upon account opening.
But those cards offer you a lot more back.
🤓Nerdy Tip
The minimum credit limit on the Wander Card is $500.
2. But it lacks the perks typical of travel credit cards
The Credit One Wander Card comes with the same price tag as other travel cards, but it doesn’t boast the same benefits. For example, the Capital One Venture Rewards Credit Card packs several perks that can offset its $95 annual fee, including a $100 credit for Global Entry or TSA PreCheck. The card also comes with travel insurance and car rental insurance — plus, it gets you two visits to eligible airport lounges per year.
The Wander Card only offers travel accident insurance. On the plus side, it doesn’t charge foreign transaction fees, but that should be a given for any travel credit card that you might take abroad.
3. You’ll get solid rewards on travel expenses
As to be expected in a travel card, the Wander Card offers its highest rewards rates on travel purchases. You’ll earn:
10x points on eligible hotels and car rentals booked using the Credit One Bank travel platform, accessed via the link in the Credit One Bank mobile app or your online account.
5x points on flights, dining and gas as well as on eligible travel not booked using the Credit One Bank travel partner.
1x points on all other purchases.
4. There are flexible redemption options
Credit One Wander cardholders have a healthy menu of redemption options for their points, which never expire as long as the account is in good standing. Points may be redeemed for:
Statement credits. (Cardholders must redeem in increments of 1,000 points.)
Gift cards.
Merchandise.
Eligible activities.
Points are worth 1 cent when redeemed for a statement credit. However, point values may vary when redeemed for gift cards, goods and activities.
Travel redemptions are facilitated by Aspire Loyalty Travel Solutions.
5. It has a modest sign-up bonus
As of this writing, the Wander Card comes with the following sign-up bonus: Earn 10,000 bonus points after spending $1,000 on eligible purchases in the first 90 days from your account opening that can be redeemed for a $100 statement credit, gift cards, or travel.
That’s a decent offer if you have only fair credit; many cards for fair credit don’t offer any sign-up bonus.
But again, if you have at least good credit, you can find far, far more lucrative bonus offers on cards with comparable annual fees. The aforementioned Chase Sapphire Preferred® Card, for instance, offers the following: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards®.
Airline credit cards typically offer standard benefits, like bonus miles on airfare purchases, free checked bags and priority boarding. But one of the most valuable perks any airline credit card can offer is a companion ticket that can cut your cost of travel in half.
Thanks to its high welcome bonuses, earning structure and airfare discounts, the British Airways Visa Signature Card has long been considered one of the best credit cards from a foreign airline offered in the U.S., especially when you consider British Airways’ extensive U.S. route network. But it also comes with one of the most interesting companion travel benefits: the Travel Together Ticket.
The rules around redeeming this perk have recently been improved, and it is now easier to use and more valuable than ever.
Here are the details on this companion deal and how to maximize it.
How to earn the British Airways Travel Together Ticket
U.S.-based British Airways Visa Signature Card cardholders who spend $30,000 on their card in a calendar year can earn a Travel Together Ticket (posted within 4-6 weeks). The voucher is valid for outbound travel up to 24 months from the issue date (the return flight can be after that).
The British Airways Visa Signature Card offers 75,000 Avios after spending $5,000 in the first three months and exclusive offers when flying the carrier, such as a 10% discount on British Airways flights originating in the U.S., up to $600 in statement credits for award flight taxes and fees every year and earns 3 Avios per $1 spent with British Airways, Aer Lingus, Iberia and Level. The annual fee is $95.
Only the main cardholder with a registered address in the U.S. is eligible to earn the Travel Together Ticket; additional cardholers are not. Only one voucher can be earned each calendar year, even if the cardholder spends more than $30,000 on the card.
Rules for redeeming The Travel Together Ticket
The Travel Together Ticket comes with several conditions worth considering when it comes time to redeem it, some of which are positive and some negative.
Previously, these vouchers could only be applied to award bookings using British Airways Avios and on British Airways-operated flights. However, this rule has recently been relaxed, so they can now be redeemed on flights operated by Aer Lingus and Iberia, though note you must still book your flight(s) through British Airways Executive Club.
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The Travel Together Ticket differs from other companion tickets, which are more like a two-for-one paid deal. In this case, you’re getting a two-for-one award redemption but are still responsible for the taxes and other carrier-imposed charges on your ticket (which can be substantial). This also means you’ve got to find two awards open on the same itinerary in the same cabin. If you wish to travel in first class, two award seats on the same flight can be tough to come by.
For solo travel, you can redeem it for 50% of the Avios required for one passenger, which is a handy perk if you would rather travel alone and save Avios.
Previously, the voucher could only be used on round-trip itineraries originating in the United States. However, this rule has also recently been relaxed, so voucher holders can now commence their itinerary anywhere in the world that British Airways, Iberia or Aer Lingus operates from (provided there is Avios availability).
Your companion must be booked in the same cabin on your itinerary (unless you redeem it for solo travel). So if you book a business-class award for yourself, you must find a second one for your companion on the same itinerary. Stopovers are allowed.
Though the terms are not explicit, you should plan to have your card open and in good standing at the time your want to use your Travel Together Ticket.
Related: How to avoid fuel surcharges on award travel
When it makes sense to redeem the Travel Together Ticket
Now we come to the real question: Is it worth using the Travel Together Ticket? The answer depends on how you plan to redeem it.
British Airways awards are notorious for high taxes and surcharges on flights through London. While this generally makes economy awards a bad value, it can still be worth paying less than $2,000 per person to fly in business or first class as part of an award ticket compared to shelling out the cash fare, which will be many thousands of dollars, especially with premium fares across the Atlantic as high as they currently are.
BA introduced a new option in 2022 called Reward Flight Saver to use more Avios to reduce the cost of the taxes and surcharges on Avios redemptions.
British Airways award availability between the U.S. and Europe tends to be much better than what U.S. and other European carriers make available. So if you want to book an award, your chances of finding it are good.
The other key benefit is that British Airways has retained an award chart, so you can be confident of how many Avios you will need on any day — no 400,000 points per flight pricing with this program.
Related: Dynamic pricing vs. fuel surcharges — which is the lesser of two evils for your next redemption?
Now, let’s take four scenarios and compare the cost of using the Travel Together Ticket compared to purchasing airfare to determine whether this is a good deal.
To make things simpler, we’ll look at a single route from Atlanta (ATL) to London Heathrow (LHR) over a single set of dates in November since award availability was open across all four cabins offered by BA on these flights (these are off-peak dates). The taxes and fees are typical examples of what you would expect to pay, both for two people traveling together and solo travelers, given the ticket can also be redeemed for solo travel.
First up, economy. A round-trip award on this itinerary for two people using the lowest surcharge Reward Flight Saver option would cost 120,000 Avios plus 300 British pounds ($393) in taxes/fees.
If you were using this as a Travel Together Ticket, you’d still be paying 60,000 Avios plus $393 for two tickets. This is because you would only be charged the Avios for one passenger but the fees, taxes and surcharges for both. Compare that to the regular economy fare on the same dates of around $1,000 per person for non-stop flights and this would be a great way to use Avios to save hundreds of dollars.
If you are a solo traveler, you can redeem the Travel Together Ticket for 30,000 Avios plus $196 in fees, taxes and surcharges, saving over $800 on the cash fares for the same flight.
Related: A review of British Airways’ A350 in economy from London to Dubai
Now for premium economy. Here’s a sample award from the same week that would cost 190,000 Avios plus 660 British pounds ($864) for two passengers.
A paid fare on the same dates would be $1,813 per person, so $3,626 for two passengers. With a Travel Together Ticket for two passengers, you would be charged 95,000 Avios plus $864, saving you thousands off the cash ticket.
Solo travelers could redeem 45,000 Avios plus pay $432 in taxes and surcharges, another excellent way to save big on the $1,813 cash fare.
Related: Is British Airways premium economy worth it on the Boeing 777-300ER?
In business class, British Airways will charge 360,000 Avios plus 900 British pounds ($1,179) in taxes and surcharges for two passengers at the Reward Flight Saver rate.
With the 50% reduction in Avios with the Travel Together Ticker, you would still be charged a huge 180,000 Avios plus the full $1,179 co-payment. However, with cash fares on these dates close to $4,000 each roundtrip in business class, you would still save thousands of dollars using the voucher.
For solo travelers, just 90,000 Avios plus under $600 in taxes and fees saves versus $4,000 for a cash ticket is a great deal.
Related: British Airways’ Club Suites don’t disappoint: On board a retrofitted 777 from London to New York
Reward Flight Savers are not offered in first class, so while you’ll only need marginally more Avios than the business class rates above, you must pay the full fees, taxes and surcharges. For two passengers using a Travel Together Ticket this would be 170,000 Avios roundtrip plus an eye-watering 3,263 British pounds ($4,279).
While this would represent a decent saving on the cash fares of almost $6,000 per person, given the thousands of dollars of surcharges you must pay for a first class redemption, using the voucher for business class instead would be a much better deal.
How to earn Avios
If you want to use a Travel Together Ticket but don’t have enough British Airways Avios in your Executive Club account, British Airways is a transfer partner of Capital One, Chase Ultimate Rewards, American Express Membership Rewards, Bilt Rewards and Marriott Bonvoy, making Avios one of the easiest currencies to earn.
Points transfer from Chase, Bilt and Amex at a 1:1 ratio (in addition to occasional transfer bonuses of up to 40%), while Marriott points transfer to Avios at a 3:1 ratio. Plus, you’ll get a 5,000-Avios bonus for every 60,000 Marriott points transferred.
The following cards all currently offer strong welcome bonuses that you could easily convert to Avios:
American Express® Gold Card: Earn 60,000 Membership Rewards points after you spend $4,000 on purchases in the first six months of account opening. Terms apply.
The Platinum Card® from American Express: Earn 80,000 Membership Rewards points after you spend $6,000 on purchases within the first six months of card membership. Check to see if you’re targeted for a 125,000-point welcome offer through CardMatch (offer subject to change at any time). Terms apply.
Capital One Venture Rewards Credit Card: (see rates and fees) Earn 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening.
Capital One Venture X Rewards Credit Card: (see rates and fees) Earn 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening.
Chase Sapphire Preferred Card: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.
Chase Sapphire Reserve: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.
Ink Business Preferred Credit Card: Earn 100,000 bonus points after you spend $8,000 on purchases in the first three months from account opening.
Bottom line
The British Airways Visa Signature Card’s Travel Together Ticket can save you thousands of dollars on British Airways, Iberia or Aer Lingus flights from anywhere in the world by allowing two passengers to travel together, in any cabin with award availability and only pay the Avios required for one passenger. The spending requirement to earn the perk is high, though.
Following last years Reward Flight Saver rollout to allow passengers to reduce the notorious BA carrier-imposed surcharges by paying more Avios, this voucher is a valuable credit card perk for economy, premium economy and business class flights. However, the savings are less in first class as the Reward Flight Saver option is not available.
Earlier this week, HUD Secretary Shaun Donovan mentioned that the first-time homebuyer tax credit could be used as a down payment, but that may no longer be the case.
The mortgagee letter with the program details has since been removed from the HUD website; a call to the FHA confirmed this had occurred.
The employee I spoke with said the program is essentially pulled as of now, but nothing official has been released regarding the fate of the so-called tax credit advance.
So as it stands now, it appears as if the tax credit cannot be used for a down payment. It’s unclear why the FHA withdrew (or at least stalled) the program, though it could have something to do with perceived risk involved.
Allowing first-time homebuyers to purchase a property with nothing down is certainly high-risk, and the practice of using tax credits for down payments is fairly similar to the seller paid down payment assistance loans that nearly sunk the FHA.
Last summer, FHA Commissioner Brian D. Montgomery said the agency realized $4.6 billion in “unanticipated long-term losses,” largely due to an increased number of seller-funded loans in its portfolio.
The loans, which accounted for 14 percent of all FHA loans outstanding and 31 percent of all FHA foreclosures, are no longer available.
If they hadn’t been banned, the FHA would have needed appropriations of $2.5 billion to operate.
While I’m sure the loan program could help some borrowers in need, it could also lead to abuses, which may outweigh the positives.
Disability insurance is the most underrated type of insurance, and one that I routinely would see clients skip. Who ever thinks they will become disabled?
Hard truth – According to some statistics from the Council for Disability Awareness, 1 in 4 workers who are 20 years old will be disabled before they retire. That’s a shocking number for most people to consider. If you can’t perform your job, you can’t earn money, and that’s where a disability insurance plan can save the day.
The best disability insurance companies make it easy to get a quote online. Below you can quickly get a quote from top rated disability insurance companies we recommend, or keep reading to learn more about disability insurance and its uses.
Table of Contents
Quotes From Top Rated Disability Insurance Companies We Recommend
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#1
Quotes from the top disability carriers to ensure you find the best rates
Helps thousands of consumers apply for disability insurance each year
Rated Excellent on TrustPilot
Benefit terms range from 3 months to age 67
Choose your waiting period
Multiple riders add flexibility to your policy
#2
Benefit periods from as little as 2 years or all the way to retirement age
Family care benefit provides coverage for up to a year if policyholder has to take off work to care for a child, spouse, or parent
10% discount to business owners and an additional 10% to preferred occupational classes.
Offers the option of Full Coverage for Mental/Nervous disabilities or a 10% discount for a 2 year limitation.
Rated A (Excellent) by A.M. Best for financial strength
What is Disability Insurance?
The idea behind disability insurance is simple.
It operates similar to a traditional life insurance plan, but instead of paying out upon your death, it pays out if you become disabled.
Coverage for these plans can vary in the size. Just like with other kinds of insurance plans, every disability policy is different.
If you already know what you want and just want to browse different rates from several carriers, click here.
Some plans are going to replace 45 %of your income, while others are going to give more replacement at 65%.
The more replacement coverage you want, the more you’re going to pay for your plan.
The Differences with Workman’s Compensation
When an employee suffers an injury on the job, oftentimes their employer will compensate them through worker’s compensation.
It is important to understand the difference between disability insurance and worker’s compensation – because the two are not the same thing.
The key difference between workers’ compensation and disability insurance is that workers’ compensation (or workers’ comp) pays for injuries that are work-related. Employers will obtain workers’ comp insurance in order to pay for incidents that occur on the job.
If workers sustain injuries on the job, it is oftentimes up to the employer to pay for the person’s medical bills, as well as for the individual’s lost wages if the employee must take time off work because of the injury.
An employee who collects payment via workers’ comp will typically, however, not have a long-term disability, but rather a temporary injury from which he or she will soon return.
On the other hand, disability insurance pays for a percentage of a person’s earnings if the insured is not able to work due to an injury or illness – regardless of whether that injury or accident happened at work or elsewhere.
In addition, if the disability insurance policy is an individual policy (versus an employer-sponsored group plan), the insured will be covered under the policy regardless of who he or she is employed through.
According to the Council for Disability Awareness, less than 5 percent of disabling accidents and illnesses are work related.
This means that the other 95 percent are not – and that these other 95 percent are also not covered by workers’ compensation insurance.
What About Social Security Disability Benefits?
It can be extremely difficult to qualify for Social Security’s disability benefits. For example, Social Security will only pay benefits if a person is considered to be totally disabled. This means that the individual cannot do work that they did previously, nor can they do other jobs either.
In addition, the person’s disability must have lasted, or be expected to last, for at least one year or result in death.
An individual must also have collected enough work credits in order to qualify for Social Security disability benefits.
You can take a look at the 2019 Social Security Administration limits and rates for OASDI and social security here.
The number of credits will be dependent on the age that the individual is when he or she becomes disabled.
With that in mind, the importance of disability insurance becomes even more clear.
This type of insurance can provide you with the additional funds that you need to help pay living expenses – without the need to dip into savings, retirement assets, or worse yet – use credit – for the purpose of paying day to day bills until you are back on the job.
If Social Security deems that a person’s situation qualifies, there is still a five month waiting period before benefits are paid.
This, too, can create a financial hardship for many people in terms of paying living expenses – especially if there are added medical costs due to the illness or injury that has been suffered.
So, we know Social Security won’t give the money you need and workman’s comp probably won’t cover it, so now what?
This is why you should explore a private disability insurance policy.
Types of Disability Insurance
The two main types of coverage are long-term disability and short-term disability.
You can probably guess from the name, but short-term policies are designed to cover employees for a much shorter time, anything shorter than two years.
Long-term disability, on the other hand, is built for anything past two years. A long-term disability insurance policy could continue to pay out for the rest of your life if it’s needed but typically runs from 5-10 years.
Some of the common causes for short-term disability insurance include:
having a baby
a severe illness
a major injury.
Long-term disability could include a lot of things, but some common causes are:
cancer
muscular disorders
cardiovascular complications
or serious injuries
Long-Term Disability vs. Short-Term Disability
Aside from the obvious, there are a few key differences between long-term disability and short-term disability.
One of those is the waiting period for a payout.
With short-term, policyholders can start receiving weekly checks as quickly as a 1 to 7 days after you file a claim for the policy.
With a long-term disability insurance policy, on the other hand, it can be anywhere from 90 days to 180 days.
If you’re looking at the cost difference between the two plans, short-term policies are going to be significantly more affordable than its long-term counterpart. Long-term plans can give you years more coverage which could translate to thousands and thousands of additional coverage from the insurance company.
Another key difference between the two kinds of plans is how you can get the coverage.
A lot of companies offer their employees short-term disability insurance, but almost no companies have a long-term disability insurance program.
If you want to get the long-term coverage, you’ll have to purchase a plan through a private insurance company. If your company offers any type of short-term disability insurance, you should always enroll in the program.
Group, Individual, Multi-life
Inside of the two main types of disability insurance are several “sub-types” of coverage.
One of those is group coverage.
These are policies which are offered through an employer and are offered to all the employees. Group coverage could be either short-term disability or long-term disability.
Employer-sponsored short-term plans are designed to pay for any disabilities which occur outside of the workplace. Short-term disabilities are much more common than long-term disabilities which could impact you for the rest of your life.
Individual Disability Insurance
If your company doesn’t have any sponsored plans, you can purchase a private policy through an insurance company.
You’ll be required to answer some medical questions and depending on the plan, take a medical exam.
Multi-Life Disability Insurance
When you’re shopping around for a disability insurance policy, you’ll probably come across plans being sold as “multi-life plans.”
The idea of these plans is to get several key people in a business (think of several doctors in a practice) to all apply at the same time with their plan.
The insurance company markets these policies as multi-life so they can offer simpler underwriting processes and pass some of the savings onto the policyholders.
Is Group Disability Enough?
For the employees who are lucky enough to get disability insurance through their employer, you still might be lacking. Just because you have a plan through your job, it might not be enough.
Let’s say you’re not able to go to work because of an accident. You can’t get to your job and pull in your paycheck, are you going to be able to pay for all of your monthly bills without having to make any extreme sacrifices.
To determine if your group disability insurance is enough, you’ll need to do some basic math.
Look at your plan and see how much coverage it provides.
For this example, let’s say it pays 50% of your salary. Now, take a look at your bills and expenses.
If the total of those numbers is more than 50% of your income, then your group disability isn’t enough.
If you’ve crunched the numbers and came to the jarring realization your group plan isn’t enough, the best choice is to purchase an additional individual plan.
Both of the policies can work together, and your individual plan can pick up the slack left behind.
What’s the Difference Between Owner-Occupation and Any-Occupation?
One of the most important things to understand about disability insurance plans are the differences between an owner-occupation plan and an any-occupation plan.
They may sound the same, but they completely change how your plan operates and the coverage it will give you.
First, let’s look at owner-occupation (sometimes called own-occupation protection). Policies with this protection will only pay out if you can no longer to the duties and tasks required to you by your job.
If you’re an electrician, but you can not do the simple tasks required on a day-to-day basis, then an own-occupation plan will pay you the benefits.
Any-occupation policies will only pay the benefits of the plan if you can no longer perform any occupation based on your education and work experience.
As you can tell, any-occupation policies have much stricter rules on the circumstances in which they will pay the policyholder.
Type of Disability Insurance
Description of Disability Insurance
Short-term disability insurance
Provides coverage for a limited period of time, usually up to 6 months, and replaces a portion of your income if you are unable to work due to illness or injury.
Long-term disability insurance
Provides coverage for a longer period of time, typically until retirement age, and replaces a portion of your income if you are unable to work due to illness or injury.
Group disability insurance
Provided by an employer as part of a benefits package, group disability insurance offers coverage to all employees and may be offered as short-term or long-term disability insurance.
Individual disability insurance
Purchased by an individual, this type of disability insurance offers customized coverage and can be either short-term or long-term disability insurance.
Own-occupation disability insurance
Offers coverage if you are unable to work in your specific occupation due to illness or injury, even if you are able to work in a different occupation.
Any-occupation disability insurance
Offers coverage only if you are unable to work in any occupation due to illness or injury.
Residual disability insurance
Offers coverage if you are able to work but have a reduction in income due to illness or injury.
How Much Does Disability Insurance Cost?
Now for the part everyone wants to know, how much is a disability insurance plan going to cost you?
Well, there are a lot of different factors which are going to affect how much the premiums are. It’s difficult for me to give an exact number without knowing your exact situation.
For example, the age of the applicant is going to play a major role in the premium rates. If a 25-year old applies for a policy, it’s going to be significantly cheaper than a plan for a 45-year old.
The general rule of thumb for disability insurance is the premiums are going to be anywhere from 1% to 3% of your gross income.
If you are making $100,000, you can budget for $1,000 – $3,000 every year.
As I mentioned, there are dozens of different factors which will completely change how much you pay.
If you’re a smoker, then you’re going to pay much more for your plan.
If you have a riskier job, you’re going to pay more.
The rule of thumb is exactly that.
How Much Disability Insurance Do You Need?
I alluded to the amount of disability insurance earlier in this article, but now let’s take a hard look at how much coverage you should have.
Not having enough disability insurance protection could cause some serious financial strain if something were to happen.
First, let’s look at your living expenses. If you don’t already have a budget, take some time to look at all of your monthly bills (power bill, water bill, mortgage payment, etc.) and your spending (groceries, gas, etc.).
On top of those monthly expenses, add in a few “unexpected” bills as well. You never know when something is going to break or an extra bill is going to pop up.
You want to have some cushion in your budgeting. Otherwise, you end up living paycheck-to-paycheck.
After you have the monthly expenses number, you can do some subtracting.
If you aren’t working, your expenses are going to look very different than they do now. For example, if you aren’t driving to work every day, you probably won’t be spending as much on gas.
You won’t be spending money on work clothes, and you will probably cut out some additional “entertainment expenses” as well.
Now you have a new number, your monthly expenses minus some tweaks.
The next number you want to add to the equation is any income you’ll make from other sources besides your disability insurance plan.
This category can include any money from your investments, money from your spouse or partner’s job (or a second job if they decide to add another job) and any additional disability income you may qualify for.
If you’re the main income earner in your home, then having disability insurance is one of the most important purchases you can make.
Key Man
For most people, they purchase disability insurance for their family and loved ones. for others, they buy a plan to protect their business.
If you’re one of the foundational workers in your business (ex. an owner, CEO, etc.), then you should consider buying a disability insurance policy for your company.
Key man plans operate a little differently than a traditional disability policy. With these policies, the business pays the premiums for the plan, and if something were to happen to you and you couldn’t perform your job, then the business is going to get the money from the payout.
These policies are a way for the companies to protect themselves against financial struggles if a key person in the business were unable to work because of illness or injury.
The company can use this money to outsource those duties or to hire someone to replace the key person while they are out with the disability.
Disability Insurance for High Income Occupations
There is a certain group of people which disability insurance could have some serious problems.
If you are a high-income earner, the standard disability insurance policy simply may not be enough. Just about every insurance company which sells one of these plans is going to have an income limit.
Regardless of the percentage they replace, they are not going to offer more than that limit.
Typically, these are doctors or lawyers who own their own firms, for example.
Some policyholders may find the insurance company’s limit is below the 60% they offer in income insurance.
If you’re one of these people, there are some things you can do to get the protection you need, regardless of how much money you make every year.
One option is to choose a company who offers higher limits. Each company has different coverage limits on their policy. We can help you shop around until you find one with a high enough limit for your needs.
Another route is to buy two separate plans from different companies. Sure, you’ll pay more in premiums every month, but you’ll have the protection in place if you ever need it.
Where to Get a Disability Insurance Quote
You now know the basics of disability insurance coverage, it’s time to go out and find a policy of your own.
There are more than 40 insurance companies which sell these plans. As I mentioned, they are all different. Some are going to have higher limits, offer a larger percentage, or have cheaper rates.
You need to find a company which suits your needs.
Before you pick a company, compare the rates and plans from several companies. You don’t buy the first house you see, why would you buy the first policy you find?
Sure, you can use your own time to contact those 40+ companies individually, or you can use a tool which will do the dirty work for you.
If you’ve decided you want to get disability insurance or supplement the coverage you already have from work, check out PolicyGenius. They are one of the few companies out there which can gather quotes from dozens of companies for disability insurance, all in one place.
PolicyGenius allows you to tailor your quotes to exactly the kind of policy you’re looking for; the perfect amount of coverage with the proper waiting period.
They know shopping for insurance isn’t easy, but they make it as quick as possible.
FAQs – Best Disability Insurance Quotes
How can I get the best disability insurance quotes?
To get the best disability insurance quotes, it’s important to shop around and compare policies from different insurance companies. You can request quotes online or by speaking with a licensed insurance agent. Be sure to provide accurate information about your occupation, income, and health to receive an accurate quote.
What factors can affect the cost of disability insurance?
The cost of disability insurance can be affected by several factors, including your age, occupation, health status, and the type and amount of coverage you select. Policies with longer benefit periods or more comprehensive coverage may be more expensive.
How much disability insurance coverage do I need?
The amount of disability insurance coverage you need depends on factors such as your income, monthly expenses, and savings. A general guideline is to have enough coverage to replace 60% to 80% of your income, but this may vary depending on your individual circumstances.
Cruise passengers do not get bumped as often as airline passengers do, and you aren’t likely to find out there’s no room for you on the ship during the boarding process the way you might on a flight. But cruises can be oversold or canceled in advance for a variety of reasons.
Cruise lines employ some of the same approaches to inventory management as their airline counterparts, resulting in the ever-dreaded bumps. Plus, ship upgrade initiatives or mechanical repairs may cause changes to itineraries departing within weeks, months or even years.
For more cruise news, reviews and tips, sign up for TPG’s cruise newsletter.
But wait, some of us don’t dread airline bumps — we may, in fact, seek them out. Could the same apply to cruising? The biggest difference is that you’ll rarely be able to volunteer to be bumped, though that can happen in some situations. For example, Royal Caribbean overbooked Allure of the Seas earlier this year and contacted passengers to ask if they would voluntarily swap ships or sailing dates to free up rooms.
Whether you get a rare volunteer option or are involuntarily bumped from a canceled or oversold cruise, there’s a chance that you might come out ahead. First, let’s look at the reasons cruise lines bump passengers, then at the kinds of compensation you might expect if you get bumped from a cruise.
Reasons cruise lines bump passengers
Because cruise lines and their passengers have far less flexibility than airlines and flyers, every effort is made to avoid bumping guests that have confirmed cruise bookings — but there are several reasons it can happen.
Probably the most common reason for a cruise bump is maintenance and/or safety. Storms sometimes cause cancellations, and even though cruise lines schedule routine maintenance and upgrades, unexpected problems do crop up between those scheduled dry docks. Think damage from collisions, fires, rogue waves or engine failures — all of which have happened on cruise ships, sending them to the repair dock and resulting in last-minute canceled cruises.
Nobody wants to have their cruise canceled that way, but neither should you want to board a ship that might be less than seaworthy. The events that cause this type of bump often make the news, possibly alerting you to your potential bump before it happens. That’s small consolation for a canceled cruise, but it might allow you to begin rearranging your travel plans a bit sooner.
Related: Are cruises safe? Here’s what you need to know about cruise ship security and safety
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Behind-the-scenes cruise line maneuvers can cause bumps that rarely make the mainstream news. Fleet changes and charter sales are two of those issues. Luckily, both of these types of cancellations usually provide months of lead time for cruise passengers to make changes to their travel plans.
You’d think dry docks are planned well before a ship’s future itineraries are announced, but don’t be surprised if dry docks for upgrades or maintenance are scheduled after cruises start booking. That recently happened with Royal Caribbean’s Freedom of the Seas, causing cancellations of cruises in December 2024 and January 2025. Early planners were bumped from their trips, including holiday sailings.
Fleet changes happen when a cruise line either feels it can make more money from moving a ship to a different destination or occasionally when a destination becomes impossible to cruise to. Currently, the slow resumption of cruising in Asia (especially China) has caused strings of cancellations and bumps.
Fleet changes can also result from ship sales or even transfers between sister companies (like Carnival Cruise Line taking some of sister brand Costa Cruises’ ships). Occasionally these can be short-notice situations, but not usually.
Charter sales are when the cruise line sells a large block or the entire capacity of a ship to a charter company. These sales are worth millions to the cruise line. They generally avoid charters of ships that are already heavily booked, but it does sometimes happen, triggering a number of cancellation emails.
Then there is the oversell. It’s easy to assume that cruise lines could manage their cabin inventory through their complicated multistaged cancellation policies without the need to oversell. After all, guests who cancel their cruise at the last minute are not given refunds. Why can’t the ship sail with a few empty cabins?
Cruise ships often sail with empty rooms, and most lines use upgrade options to eke out a few extra dollars from unsold rooms at the last minute. But the important factor is that cruisers spend hundreds (if not thousands) on things like drinks packages, spa services, port excursions and specialty dining. Empty cabins don’t generate that additional money, so cruise lines oversell popular sailings as airlines do with flights. They hedge their bets, and sometimes the gamble fails.
Related: How to get a free or cheap cruise ship cabin upgrade
What passengers can expect from the cruise line if they are canceled or bumped
In the case of storm cancellations or emergency maintenance needs that occur pre-cruise, you will likely get a refund of your cruise fare or credit toward a future cruise. In general, cruise lines would rather not give out refunds, so they use bonuses of additional future cruise credits if you choose credit rather than a refund. You will get little assistance for your non-cruise travel arrangements unless those were booked through the cruise line.
Fleet changes generally involve offers to move your reservation to a different ship sailing a similar itinerary, the ship you booked on different dates, or a different ship and itinerary altogether. Again, refunds are the cruise line’s least favorite choice, so you may expect bonus credit if you opt to either move your reservation or accept credit for an alternative cruise. Because this kind of bump usually comes with advance notice, the offer you get may not include huge bonuses.
Celebrity Cruises recently had a fleet-change situation roughly six months out and offered affected guests alternative cruises and as much as $500 toward ancillary travel cancellation or change fees, which might not be enough to cover nonrefundable airline tickets for many destinations.
Related: 6 tips for booking your 1st cruise
Oversold cruises, though still quite rare, can result in enticing options for those who either accept a voluntary bump or anyone subject to an involuntary one. Possibilities include upgraded cabins on the alternative cruises offered, price freezes so your new booking doesn’t cost more, and a longer cruise than the canceled one at the same rate.
The options you are offered could go the other way, though. During one of its recent oversell situations, Royal Caribbean offered those being bumped from its largest class of ships a replacement cruise on a midsize ship. Sure, it was a similar itinerary, but a cruise on an Oasis-class ship is an entirely different experience than a sailing on a Voyager-class vessel.
Related: The 6 classes of Royal Caribbean cruise ships, explained
The good news is that the closer it gets to the oversold cruise, the better the offers are likely to be. The caveat, though, is that you may already have paid for airfare, hotel stays and other pre- and post-cruise bookings that cannot be canceled without paying a penalty.
Does travel insurance help with cruise cancellations or bumps?
Having travel insurance that covers cancellation of the full amount of your travel, including airline tickets and hotel reservations, is always the safest choice on any cruise. Insurance coverage can be tricky, so read all policy details carefully before you choose.
The first thing to know is you cannot be reimbursed for your cruise fare from travel insurance if you accept a refund, alternative cruise or future cruise credit from the cruise line. Where it can come in handy is if you had already paid for nonrefundable flights, hotel stays or tours before your cruise was canceled or changed.
I checked the fine print on several policies designed specifically for cruises, and none of the policies I looked at would cover your extra costs like nonrefundable airline tickets or change fees if you take a voluntary bump. Even involuntary bumps due to cruise line fleet changes don’t appear to be covered, and forced cancellations due to an oversell by the cruise line are not listed as covered reasons on any insurance policy I checked.
Related: Cruise travel insurance: What it covers and why you need it
If you were really concerned about cancellations, you could purchase a “cancel for any reason” add-on to your insurance plan. These can be pricey and possibly not worth the cost just to protect against an unexpected bump.
Cruise line cancellations due to mechanical failures would likely be covered under the common carrier clause, but only the amounts for which the cruise line doesn’t reimburse you. If your cruise line offers you $500 toward flight and hotel changes, and you are out $1,000, you can file for the extra $500 with insurance. If the cancellation happens before you leave, you’ll use trip cancellation coverage. If it happens after you have left home, you will file under trip interruption coverage.
Insurance payouts for cancellations due to weather have specific conditions regarding when you paid for the insurance coverage (often it must be 14 days before the cancellation) and whether the storm was named or not at the time you purchased coverage.
Related: The 5 best cruise travel insurance plans
Having a ‘Plan B’ may help you come out ahead on cruise bumps
Just knowing that your cruise could be canceled is a good starting point. Consider that situation when deciding on the rest of your travel plans. Perhaps you want to choose the hotel rate that lets you cancel up until 24 hours before your stay, no matter how tempting the lower, prepaid nonrefundable rate looks. The same goes with airfare.
Also, consider what you might do if your cruise gets canceled or changed. If you do book nonrefundable flights or hotel rooms, are you willing to use them even if you don’t take the cruise you planned? Can you change the dates or destinations? Would you consider booking a trip on another cruise line from the same port on the same dates to salvage your vacation — or would you enjoy a land-based holiday in Florida, Seattle or the area around your intended departure port?
Planning for the unexpected is especially important if your cruise is a one-way trip where you fly into one port and home from another (like some Alaska cruises). Having a Plan B is also crucial if your cruise involves a group or an event like a wedding.
What to do if you are notified of a bump or cancellation
When you are notified of a change in cruise plans, the first step is to read the notice carefully to understand your options. If you booked through a travel agency, call your adviser if they do not reach out first. Have them explain the reason for the bump and any options the cruise line offers. A valued agent may even check cabin availability on other sailings for you before they call.
The cruise line will often offer complimentary replacements on smaller ships or slightly different itineraries. If you don’t have an agent, your next step should be researching your options (including cabin availability) before committing to any of the cruise line’s choices. If you are picky about ship size, where the ship stops or cabin type or placement, you wouldn’t want to swap to the proposed alternative sailing if it wouldn’t make you happy.
Once you get a representative (or your travel adviser) on the line, clarify whether your reimbursement options include bonus future cruise credit or a refund. If you’re not offered the compensation you prefer, it never hurts to ask for it. The cruise line wants to keep you as a valued customer and knows it has inconvenienced you. The greater the inconvenience, the more the line might be willing to give.
Related: Is it better to book a cruise through a travel agent? We say yes
Finally, don’t wait too long to decide. You won’t necessarily know how many passengers are being bumped, but it could be hundreds, all scrambling to rebook something. Even if you’re inclined to wait a full year for a replacement cruise, the dates or cabin you want might fill up.
One of the worst situations I’ve heard of was a group of friends traveling together in six cabins. Half were canceled due to an oversell of the cruise. Handling that kind of bump takes coordination among the travelers, as well as with the cruise line. In theory, the reservations should have been linked, which might have avoided the split, but because the cruise lines don’t share their algorithms for who gets bumped, it’s impossible to know how any situation can play out.
Bottom line
If you cruise often, you might eventually be subject to a cancellation or bump. Being prepared with insurance coverage, refundable travel arrangements and a plan for what to do with your vacation time if it happens to you can make a cruise cancellation far less difficult to deal with.
My family once had a cruise trip canceled by a hurricane. Once we got our refunds squared away, we hit the road for what turned out to be an epic road trip. What’s your backup plan?
Whether you’re thinking of renting a beach home or planning a multifaceted trip requiring a flight, hotel stay and car rental, you now have an opportunity to earn rewards, receive discounts and reach elite status through a new loyalty program.
Expedia Group brands including online travel agencies Hotels.com, Expedia and vacation rental site Vrbo are joining forces for a program called One Key.
One Key has replaced the existing travel rewards programs used by Hotels.com and Expedia. The inclusion of Vrbo makes it the first loyalty program among major vacation rental sites as well.
Note that there are some limitations around booking through an online travel agency, and previous Hotels.com Rewards loyalists may find earning a free night is more difficult under the new program.
However, for some travelers, One Key will provide an avenue to earn rewards for almost every element of their trip, from flights to hotels to vacation rentals to experiences.
Here are some things to know about the One Key program.
How the One Key loyalty program works
The One Key program combines the booking possibilities from three sites into a lot of earning potential. It’s probably most beneficial for the more infrequent travelers who may not stay or fly enough with one brand to earn perks but could use rewards on all of their travel spending combined.
In other words, it doesn’t matter which of the three sites you’re using. Loyalty currency you earn and elite status progress you make will all count toward a single program.
Like with most loyalty programs, One Key is free to join.
How to earn rewards on Vrbo, Hotels.com and Expedia
The One Key program will use a new loyalty currency: OneKeyCash. Members will be able to earn through:
Eligible stays on Hotels.com.
Eligible rentals on Vrbo.
Eligible flights, hotels, rental cars or activities on Expedia.
Members will receive 2% in OneKeyCash for every dollar spent on eligible hotels, vacation rentals, activities, packages, car rentals and cruises and 0.2% in OneKeyCash for every dollar spent on eligible flights. That means if you spent $100 for a hotel night, you’d earn $2 worth of OneKeyCash.
🤓Nerdy Tip
You can double dip and earn more rewards by using a travel credit card to pay for your booking and adding your frequent flyer account number to any flight reservations.
The earnings rates get higher for certain hotel reservations as members earn elite status in the One Key program.
In a nice benefit for families, whichever member makes the booking earns the rewards for their whole traveling party. So, a parent reserving flights and a hotel for the whole family would earn all of the OneKeyCash for the trip.
Can you transfer OneKeyCash?
You won’t be able to transfer OneKeyCash to another member’s account. However, you will be able to book travel for another member. So, if you have OneKeyCash in your account and no plans to use it, you can book a trip for a family member or friend with your rewards.
Redeeming OneKeyCash
OneKeyCash is equal to $1. For most bookings where you pay upfront, you’ll be able to apply the OneKeyCash you’ve earned toward the cost. For example, if you had $20 worth of OneKeyCash, you could apply it to your next hotel booking on Hotels.com for a $20 discount off the total price.
There is one key exception: For flights booked with OneKeyCash, you’ll need to have enough in your account to cover the entire booking.
OneKeyCash can be used on booking participating rentals in U.S. dollars.
Earning elite status through One Key
The earnings, discounts and perks improve as you earn status in the One Key program. And because the loyalty program encompasses flights, hotels, rental cars and more, it is possible to earn elite status in just one trip.
Trip elements
Many major loyalty programs are built around revenue-based models for elite status, but One Key uses what it calls “trip elements.”
A trip element includes any of the following:
One air ticket.
One room night.
One vacation rental night.
One night on a cruise.
One day’s car rental.
One round-trip ground transportation ticket — like a taxi, shuttle, etc.
One activity ticket.
Trip elements must be worth $25 or more (not including taxes or fees) to count.
How to earn One Key elite status
Members reach elite status levels by accumulating trip elements. Here’s what it takes to qualify for each tier:
One Key status tier
Requirements to earn
One Key Blue
No benchmark; entry level.
One Key Silver
Five trip elements within a year.
One Key Gold
15 trip elements within a year.
One Key Platinum
30 trip elements within a year.
You can see how it’s possible to quickly reach status levels. Let’s say a member books the following as part of a trip:
A flight for a family of four (on Expedia) = 4 trip elements.
A seven-day car rental (on Expedia) = 7 trip elements.
A seven-night rental property stay (on Vrbo) = 7 trip elements.
Two activities during the week (on Expedia) = 2 trip elements.
This fairly ordinary vacation booking totals 20 trip elements, enough for the One Key member to reach Gold status and be two-thirds of the way to Platinum.
For any of these trip elements to count and to earn status and loyalty currency, the member will need to book while logged-in to their One Key account.
One Key elite status
Clearly, earning elite status in the One Key program is easy. But what does it get you?
Members who join the One Key program (known as Blue members from the outset) enjoy some limited benefits like discounts on some hotel stays and free price tracking. The latter is a great tool for finding the best deal.
Like with any tiered loyalty program, as you work your way up the ladder, you’ll retain the lower-tier benefits but accumulate new perks along the way.
Here are the perks for One Key’s elite status tiers:
Elite status tier
Trip elements required
Perks (accumulated by tier)
One Key Blue
None; entry-level status.
Earn OneKeyCash on eligible bookings.
Free price tracking.
10% member discounts on eligible properties.
One Key Silver
Five trip elements.
15% member discounts on eligible properties.
50% extra OneKeyCash on stays at VIP Access properties booked on Expedia or Hotels.com.
Priority traveler support.
One Key Gold
15 trip elements.
20% member discounts on eligible properties.
100% extra OneKeyCash on stays at VIP Access properties booked through Expedia or Hotels.com.
Extra perks at VIP Access properties like food and beverage discounts, late checkouts, early check-ins and room upgrades (when available).
Free price drop protection on eligible flight bookings made on the Expedia app.
One Key Platinum
30 trip elements.
200% extra OneKeyCash on stays at VIP Access properties booked through Expedia or Hotels.com.
Platinum VIP support.
One-time Expedia launch discount of 10% (good for up to $100 in savings).
Some of the most notable benefits of elite status are the perks at VIP Access properties, which are a collection of hotels that “consistently receive the highest guest reviews on Expedia Group and meet stringent standards of quality.” For flights, the price drop protection is a great way to ensure you’re getting the lowest price. If your fare drops in price, you’ll get the difference refunded to your account in the form of OneKeyCash.
Is it worth using the One Key program?
Though booking through an online travel agency or using the One Key loyalty program may not make sense for most avid travelers, it can certainly be helpful for others.
Here are a few of the benefits to consider.
Search a full range of options when booking
One of the compelling reasons to use an online travel agency like Expedia or Hotels.com is that it searches a wide range of brands. This can be helpful in finding the cheapest prices and, in some cases, alternative options like a small, family-run, boutique hotel off the beaten path.
Bundling your bookings
Another benefit of using a site like Expedia to book your trip is that it can help you keep all the details of your trip organized in one location, including the hotel stay, flight reservation and car rental. Sometimes, bundling can help you tap in to discounts, too.
Earn rewards for Vrbo stays
Even the most avid points, miles and travel enthusiasts will want to take advantage of Vrbo’s participation in the One Key program. Previously, there was no true way to earn rewards for stays at a Vrbo property (such as a beach house).
By logging-in to your One Key account when booking your Vrbo reservation, you’ll be able to earn OneKeyCash, which you could use for a future flight, hotel stay, rental car, activity or rental property.
Great for infrequent travelers hoping to earn perks
Though online travel agencies often don’t make sense for frequent travelers who are pursuing elite status and points or miles with airline and hotel loyalty programs, the One Key program can be a great way for less frequent (or less loyal) travelers to get some return on their investment.
Don’t have any hope of reaching elite status with the likes of Hilton or Marriott but planning a trip or two for the family with a car rental, Vrbo stay and maybe even a flight?
A weeklong Vrbo stay with an accompanying car rental and flight is enough to earn you Gold status. This alone could help you potentially enjoy a room upgrade and perhaps a food and beverage credit at your next hotel stay, when available (provided it’s at one of the program’s VIP Access hotels).
Earn for one thing, use for another
Likely the most notable benefit of the One Key program is that you can earn loyalty currency for one booking activity and use the rewards on another.
Booking a rental car will help you earn OneKeyCash and make progress toward elite status you can redeem or enjoy during a hotel stay. Booking a flight could help offset the cost of a future Vrbo stay. And so on.
The interconnectivity of the program across Expedia, Hotels.com and Vrbo’s platforms makes it possible to earn and redeem in a variety of ways.
Drawbacks of One Key
Though there are some enticing reasons to use the One Key program, there are some clear drawbacks — when it comes to the program itself and to online travel agencies more broadly.
Earning free nights harder than with Hotels.com Rewards
For travelers who have used the Hotels.com Rewards program through the years, the earning and redeeming setup of the One Key program may well come as a disappointment.
With Hotels.com’s previous program, you earned a free night by collecting “stamps” — one stamp for each night stayed, and 10 stamps got you a free night. The free night was worth the average of the rate of the 10 nights you stayed. So, if you stayed five nights at a rate of $50 and five nights at a rate of $100 (a total of $750 in spending), your free night would be worth $75 — a 10% return on your investment.
Under One Key, you get 2% OneKeyCash for every dollar spent at hotels and Vrbo properties — a significantly lower rate of return.
Harder to earn and use other hotel loyalty program benefits
Oftentimes when you use an online travel agency, you’re not able to earn points or enjoy elite status perks with a separate hotel loyalty program.
So, if you’re a frequent traveler who has reached (or is pursuing) elite status with a major hotel chain, note that you may not earn any points or elite qualifying credit for the stay with the hotel’s loyalty program. For this reason, avid travelers may be better off booking direct.
It is worth noting, though, that when it comes to booking flights, you will earn both airline miles and OneKeyCash.
Reservation changes can be more complicated
For instance, airline customer service representatives frequently have more limited ability to change a ticket booked through an online travel agency. While all of these booking sites do offer their own customer service representatives and, indeed, enhanced customer support for the higher-level elite status members, having a “go-between” can often be a headache.
Elite status perks limited to certain reservations
Another noticeable weakness of the One Key loyalty program is that some of the elite status perks are confined to certain types of reservations.
Sure, you can earn and redeem OneKeyCash (and earn elite status) for a hotel stay, a flight, a rental car reservation, a cruise or an activity.
However, to fully enjoy the program’s complement of elite status benefits like property credits and upgrades, you’ll need to book a hotel through Hotels.com and Expedia — and not just any hotel; it’ll need to be one of the VIP Access properties.
Recap of the One Key program
The new program is unlikely to be a groundbreaking option for the most experienced travelers. And Hotels.com Rewards loyalists may find the path to a free night a bit trickier.
But it does make it possible to earn rewards on one site and redeem on another — particularly for those who frequently rent vacation homes with Vrbo. And it figures to give even more infrequent travelers a path to elite status.
Regardless of whether you’re booking with Expedia, Hotels.com or Vrbo, be sure to use a travel credit card that offers bonus earnings categories for general travel purchases, which will allow you to rack up credit card rewards on top of your earnings in the One Key program.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for: