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Using Credit Cards To Help Finance Summer Vacations

Author: Deborah Braley

Using credit cards to help finance summer vacations

In the midst of a reeling economy, many people are looking for ways to save money on their summer getaways. Often anticipated all year, no one wants to forgo their trip in the interest of financial belt tightening, but without prudence, vacations can easily make a dent in your finances.

However, one growing way many Americans are saving on summer trips is by using their credit card rewards to help foot a portion of the bill. When used wisely, plastic can provide you with good deals on hotel stays, plane tickets and entertainment.

Look for partnerships
Specific credit cards often have arrangements with merchants and retailers for increased bonuses. By checking with your provider, you can find out where to shop in order to receive the maximum rewards. Many banks have their own centers - or malls - that act as an intermediary between the banks and specific businesses. By using these malls to book trips or make other purchases, you will be earning extra incentives on purchases you'd likely be making anyhow. Understanding the structure of these partnerships can be a great way to save on vacation spending.

Get a new card
Signing up for a new credit card should only be done if you are in good standing with your current one. This method is used to cash in on the sizeable rewards that many companies offer as a signing bonus. By adding a new card to your account, you can use this period of increased rewards to help finance your trip. It is important to make sure you are on top of your payments and that you can easily incorporate a new card into your payment schedule.

Paying attention your card's specific system of rewards and bonuses can help you find creative ways to save money on summer vacations.

In Brief

  • Many Americans are saving on summer trips is by using their credit card rewards to help foot a portion of the bill

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