Your credit card could help cut the cost of your summer vacation

Whether you're traveling by plane, train or automobile, rising fuel costs could make your summer vacation more expensive this year.

Global jet fuel prices are about 80% higher than they were a year ago, according to International Air Transport Association (IATA) data, and many U.S. airlines are turning to price hikes to cover these costs. On top of this, there's one less budget-friendly travel option available to consumers with the recent shutdown of Spirit Airlines.

Regardless of your mode of transportation, there's a chance your credit card could be hiding complimentary perks for your travels — from TSA application credits to rental car protections. CNBC Select takes a look at some easy-to-forget credits that can help you save money during your summer vacation.

TSA PreCheck or Global Entry application credits have become a staple of most travel cards, including those with slightly lower annual fees. It's one of those perks that you might not activate when you get the card (unless you need it immediately), and the membership only lasts five years — so you'll have to reapply, which is easy to forget.

Most cards only credit you for one or the other, not both, so carefully consider which program you'd use the most. TSA PreCheck offers expedited security screening, but Global Entry can help those returning from abroad.

The U.S. Bank Altitude® Connect Visa Signature® Card comes with a $0 annual fee and offers a statement credit to cover the application fee of either your TSA PreCheck or Global Entry application. It also comes with a 12-month Priority Pass Select membership, which can help you access lounges (even if you do still have to pay a fee).

You could be covered with trip cancellation and interruption coverage just by paying with the right travel credit card. While the insurance provided by your card isn't the same as Cancel For Any Reason (CFAR) insurance, it typically covers a wide range of qualifiers — from a simple cancellation to sickness, severe weather or other covered situations.

You'll have to make your travel purchases either partly or fully with the card that has the coverage, and since each card's policy may vary slightly, it's best to read the fine print before assuming you'll always be covered.

The Chase Sapphire Preferred® Card (see rates and fees) has some of the best travel protections, all wrapped up in a $95-annual-fee card. It comes with trip cancellation and interruption insurance, trip delay reimbursement, baggage delay insurance and travel and emergency assistance. If your trip is cut short for a covered reason, you can get reimbursed up to $10,000 per covered traveler and $20,000 per trip (for your pre-paid, non-refundable travel expenses).

It's worth noting that the insurance provided by cards typically only covers basic protections such as emergency medical benefits, trip cancellation and interruption insurance; they may not cover more in-depth situations, like pre-existing medical conditions. Plus, the limits on these coverages are often lower and might not cover 100% of the expense, depending on your needs.

Many travel cards offer credits of varying sizes to be used while you travel, typically on hotels or flights, but credits are open-ended. Travel cards with lower annual fees might have credits of just $50, but credits can range well into the hundreds of dollars for more premium cards. Further, some credits require you to stay at specific locations or book via the issuer's portal, while others are more open-ended and cover anything that "codes" as travel, like train tickets, taxi fares or even hotel room service.

If you're looking for a card loaded with these travel credits, the Citi Strata Elite℠ Card could be a good fit. Its $595 annual fee is lower than some of the highest premium cards and comes with a handful of credits:

• Up to $300 in annual hotel credit: Book two or more nights at a hotel through CitiTravel.com, once per calendar year
• Up to $200 in annual Splurge Credit℠: Choose up to two eligible brands (including American Airlines, 1stDibs, Best Buy, Future Personal Training and Live Nation) to receive a combined reimbursement of up to $200 in statement credits per calendar year
• Up to $200 in annual Blacklane Credit: Book premium global chauffeur service Blacklane and receive up to $100 in statement credits between January and June and another $100 between July and December

While the Blacklane credit might be less applicable, you also get Priority Pass™ Select membership, a credit for your Global Entry or TSA PreCheck application and four Admirals Club Citi Strata Elite passes each calendar year.

While a free checked bag perk is commonly featured on co-branded airline credit cards, if you don't travel frequently, you might have forgotten they exist. Many airlines have recently increased the prices of checked bags, so you're likely to pay $45 per checked bag or $90 roundtrip.

For instance, a standard checked bag at United Airlines costs $50 one-way. With the United℠ Explorer Card (see rates and fees), you and one companion on your reservation will each get a free checked bag, round-trip, which could save you $200. The card also waives its annual fee for the first year, so only in year two will you be charged the $150 annual fee.

Elevated status with a rental car agency is typically reserved for more premium travel cards, while rental car coverage is a more widely available perk. Elevated status can unlock perks like faster pickup, better vehicle selection and other upgrades, and rental car coverage is what covers you if you actually get in an accident.

Depending on the exact card, your coverage could be primary or secondary. With primary coverage, your card's insurance will kick in before your personal insurance; however, secondary coverage only applies after your personal auto insurance.

If you're in the market for a card that provides both benefits, consider the Capital One Venture X Rewards Credit Card. It offers complimentary Hertz President Circle status*, which unlocks the widest selection of available rental vehicles, a complimentary car-class upgrade and more. The Venture X's rental insurance is primary (as long as you waive the rental company's collision damage option) and reimburses you for damages caused by theft or collision, up to $75,000.

One thing to be aware of: The card isn't the greatest for extended trips. It only covers rental periods of 15 consecutive days (within your country of residence) and 31 consecutive days outside your home country; longer periods will not be covered.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

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For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.