Are you looking to make your dream vacation a reality, but don’t have enough funds saved up? Utilizing credit cards can be a great way to take your trip right away and pay it back over time. Here are some tips on how to properly use credit cards to fund your vacation:
1. Stay within Your Means: The key to using credit cards correctly is only spending what you can afford. Figure out how much you actually need and set yourself a budget before reaching for the card.
2. Consolidate Your Credit Cards: If you already have multiple credit cards, consolidate them into one so that you can more easily manage and track payments. Make sure the card has no annual fees or high interest rates as this will come back to haunt you later down the line.
3. Use Rewards Points & Cashback Opportunities: Check for any rewards points or cashback opportunities provided by your credit card service provider so that you can get some of those hard earned vacation dollars back in your pocket!
4. Take Advantage of Payment Holidays: Most credit card providers offer payment holidays, where they will temporarily suspend interest charges when payments are made late or on time depending on their policy. Take advantage of these offers if possible as this will save you a lot of money in the long run!
5. Make Payments On Time Whenever Possible: To avoid being hit with late fees and interest rates, always make sure to make payments whenever possible and keep track of deadlines for payment due dates. You should also remember to pay off any balances in a timely manner as this will help improve your overall credit score over time! Following these tips will help ensure that using credit cards responsibly isn’t just an option, but a smart decision that saves money and sets yourself up for success on all future vacations!
Top 10 Credit Cards for Traveling Rewards and Cashback
1. Chase Sapphire Preferred Card: This credit card offers generous rewards points for travel, dining, and entertainment purchases. Additionally, you can earn up to $300 in statement credits annually on travel purchases and 2X points per dollar spent on dining and travel worldwide.
2. Capital One Venture Rewards Credit Card: With this card, you can earn unlimited 2x miles for every purchase you make, no matter what it is. You also get 10x miles when booking hotels through Hotels.com/ venture and the first year’s annual fee is waived.
3. Bank of America Travel Rewards Credit Card: With this card, you get 1.5 points per dollar spent on all purchases with no limit to the number of points you can accumulate plus a 25% bonus after spending more than $500 within three months of account opening.
4. Barclaycard Arrival Plus World Elite Mastercard: Earn 2x miles on every purchase with no categories or caps plus 5% miles back when redeemed for travel statement credits within 120 days of your purchase!
5. American Express Gold Card: Enjoy up to 4x Membership Rewards Points at restaurants around the world and Grocery Stores including delivery services while earning 3x Points on flights booked directly from airlines or through AmexTravel.
6. Citi Premier Card: Earn 3x ThankYou Points per dollar spent on travel including gas stations, 2x points at restaurants & entertainment venues and 1 point for other eligible purchases! Plus get an additional 25% bonus value when using your points for airfare/hotel bookings through Citi’s ThankYou portal!
7. Wells Fargo Propel American Express® Card: With this card you will receive triple points (3X) at U.S Restaurants, select transportation & travel including Uber rides and Lyft rides as well as streaming services along with double points (2X) everywhere else that accepts American Express!
8. Discover it Miles: Explore the possibilities with no foreign transaction fees nor annual fees plus an unlimited 1-3% cashback depending on how much money is spent each month! Use those rewards towards future trips instead of having to pay out of pocket by redeeming them for airline tickets or hotel stays!
9. The Amex EveryDay Credit Card from American Express: Get rewarded with 20% extra reward dollars as long as 20 or more transactions are made each month and all without any annual fees attached to it! You’ll also enjoy 0% introductory APR up to 15 months so you can manage your finances better over time too!
10. UBS Visa Infinite Luxury Hotel Collection Card: Receive special room upgrades along with a complimentary 4th night when booking two consecutive nights in any participating hotels worldwide! On top of that, take advantage of 6X points per dollar spent at luxury hotel properties such as Ritz Carlton or Shangri-La Hotels & Resorts while getting 3X elsewhere too