The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Information on this website may not be current. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; we do not recommend or endorse the contents of any third-party sites. Readers of this website should contact their attorney, accountant or credit counselor to obtain advice with respect to their particular situation. No reader, user, or browser of this site should act or not act on the basis of information on this site. Always seek personal legal, financial or credit advice for your relevant jurisdiction. Only your individual attorney or advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, contributors, contributing firms, or their respective employers.
Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them. Compensation is not a factor in the substantive evaluation of any product.
[UPDATE: Some offers mentioned below have expired and/or are no longer available on our site. You can view the current offers from our partners in our credit card marketplace. DISCLOSURE: Cards from our partners are mentioned below.]
If you’re looking to drive down the costs of a vacation, it may be time to whip out your credit card or, perhaps, even apply for a new one.
A great travel rewards card provides several ways to save, none of which necessitate carrying a balance. Here are some spending strategies you should be putting to use this summer.
Put points toward airfare or hotel accommodations.
If you’ve been squirreling away your points all winter, now is the time to cash them in. Charge airfare, hotel accommodations or other travel expenses to your favorite credit card, than arrange to have points, miles or cash back applied as a statement credit before it comes time to pay the bill.
You can also get extra points or miles to use on future travel purchases, such as a Labor Day mini-break, by booking a June trip through your credit card bonus mall. Many issuers have partnerships with several popular travel engines that offer big earning enhancers on these purchases. For instance, Discover is currently offering an additional 5% cash back on Travelocity and Expedia bookings made through ShopDiscover. These malls also often feature exclusive cardholder perks or discounts. For instance, Citi ThankYou points are worth 33% more when a customer books through the bank’s ThankYou Travel Center.
[Free Resource: Check your credit score and report card for free before applying for a credit card]
Look for a particularly lucrative sign-on bonus.
Big sign-on bonuses can net enough points to cover a night’s stay at a hotel or, in some cases, a domestic plane ticket. So, if your credit is in good shape, you may want to apply for a new travel card. Just remember to opt for a bonus that you can readily qualify for since you don’t want to spend all summer trying to reach a high spending threshold.
Charge purchases abroad with a card that doesn’t feature foreign transaction fees.
If you are going abroad, take along a credit card that doesn’t charge fees on foreign transactions, which can cost consumers up to 3% of each purchase. Capital One, for instance, scrapped these charges on its products, including its popular Venture Rewards card, which also offers two travel miles back on every dollar spent.
[Credit Cards: Research and compare airline miles credit cards at Credit.com]
Rent a car with your credit card.
If you’re taking a road trip or need a car to get around your destination of choice, a good credit card can also be useful. Rental car companies also offer big discounts and extra cash back in the aforementioned bonus malls. Bank of America, for example, is currently offering cardholders earn two extra points per dollar spent at Avis and Budget Rent-a-Car through its WorldPoints Mall. Some issuers, including American Express and Visa, offer secondary collision coverage on rental cars also.
Image: pasotraspaso, via Flickr
April 9, 2024
Credit Cards
October 21, 2020
Credit Cards
August 3, 2020
Credit Cards