Interestingly, a January 2024 Bankrate survey found that, of the 44% of credit cardholders carrying debt from month to month, 2 in 3 cardholders try to maximize rewards. If you can pay your balance in full, a travel credit card is a great way to earn while you spend and put rewards toward future trips.

Using travel credit cards can also help you to reap additional travel benefits like no foreign transaction fees or trip cancellation insurance. However, even with these rewards, it’s still worth considering the cost of carrying a balance to pay for travel.

“While the travel industry has rebounded from the chaos that immediately followed the pandemic, I’m sure there will still be plenty of delays and cancellations this summer,” Rossman says.

“It’s a good idea to pay with a credit card that offers generous travel insurance benefits such as trip cancellation and interruption insurance and stipends if your flight is delayed or your luggage is lost. Rental car insurance is another helpful benefit included on many cards.”

Domestic summer travel is the most popular option

Vacations are an important part of many people’s lives, whether at all-inclusive resorts or national parks. According to the survey, 53% of U.S. adults are planning a summer vacation this year.

Thirty-six percent of Americans plan to travel domestically, 15% plan to travel internationally and 12% plan to take a staycation (respondents could choose more than one option). Another 18% don’t know or are not sure of their plans yet.

Over four in 10 (43%) of the staycationers are also planning a domestic or international trip, so roughly 7% of U.S. adults will make a staycation their only summer vacation. If you’re facing cost concerns, making the most of local experiences may be easier on your wallet.

Younger Americans are more likely to get away — and use debt to pay for it

When school’s out for summer, students, young parents and other young people might be more likely to jet out of town than older generations.

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