The travel season is in full swing, but travelers are experiencing a lot of problems, from rising transportation costs to flight cancellations. Among those who have already traveled in 2022, 79 percent have experienced at least one travel-related problem, according to Bankrate’s summer travel survey.
Does that mean you should postpone your trip? Not necessarily, says Ted Rossman, senior analyst at Bankrate Industry. If you are among the 58 percent of people who plan to travel for leisure at some point in 2022, know that there are methods to mitigate travel issues with your credit card in your pocket, or one you want to apply for sooner. of takeoff.
Most common inconveniences
“While many Americans are excited to travel again after being shut down for the past two years due to the pandemic, they are facing substantially higher costs and long waits,” Rossman says. This may interest you : New Research Reveals Women Scientists Are Less Credited Than Men – News @ Northeastern. “The situation may get worse before it improves, as accumulated demand is unleashed this summer.”
Of the 33 percent of American adults who have already traveled for pleasure and 12 percent for business this year, 79 percent said they have experienced at least one problem.
High travel costs topped the list of problems, with 57 percent of those travelers reporting higher prices than they had experienced before. This follows the results of an April 2022 survey by Bankrate, which found that 7 out of 10 Americans with summer vacation plans were changing their itineraries due to inflation.
Following the rise in prices, the main drawbacks include long waits (29%), poor customer service (27%) and hard-to-find availability (26%).
Losing funds along the way was another unfortunate experience. Of those travelers, 14 percent said they lost money due to canceled or interrupted plans.
Generations experience differences
Trip interruptions affected age groups differently: See the article : Bilt Rewards launches new travel portal, where card members can redeem points at 1.25 cents each.
People of different ages travel differently, so it’s no wonder they experience different challenges. Despite the different problems, all age groups are negatively affected: in each generation, at least 3 out of 4 travelers have experienced a travel-related problem this year.
Who’s seeing higher prices
Because people from all income groups and geographic areas are eager to explore the country and beyond, it will be essential to prepare for higher associated expenses. See the article : The best video games of June 2022: TMNT, Fire Emblem, and more. The survey found that:
So what exactly does it cost so much more? Among those who noticed higher prices in 2022 travel so far, the rising cost of transportation, cited by 85 percent of these travelers, is the most egregious. After that, 63 percent said accommodation costs more than usual and 54 percent said regular travel activities, such as dinner and sightseeing, were more than expected.
These answers are supported by data from the Bureau of Labor Statistics: According to the latest consumer price index, gas prices have risen 49 percent over the past year, airline fares have risen a 38 percent, “accommodation away from home” has increased by 22 percent and food. getting out costs 7 percent more.
However, high costs do not prevent everyone from traveling. The survey showed that 52 percent of travelers are willing to spend more than they normally feel comfortable on travel this year. 32% said they are willing to spend the same as in the past, and only 15% said they are willing to spend less on travel.
“High demand is combined with the highest inflation readings in four decades and staff shortages,” Rossman says. “If you’re still thinking about planning a trip, I’d suggest you act quickly, as prices are expected to stay high.”
How credit cards can help
The good news is that you can make up for travel delays and higher costs with the right payment tools.
“Consider using credit card rewards, air miles, or hotel points to cover the cost of your trip,” Rossman says. “And if you can be flexible, let the offers dictate when and where you travel, instead of putting your heart in a specific place at a specific time.”
Check your credit cards now. Check your rewards balance to see if you have enough to cover your airfare. If not, consider ways to quickly add more points or miles and get more value for travel rewards. Charging large and necessary expenses and then paying the bill in full before interest starts can add enough to qualify for a free flight. Also, if you have a travel credit card, review the benefits of your card. You may not be aware of all the travel benefits that will save you money.
If you don’t have a good rewards credit card right now, this may be the perfect time to get one. The best travel credit cards can save you hundreds or more trips. Here are some features to keep in mind:
Methodology
Bankrate commissioned YouGov Plc to conduct this survey of 3,378 adults in the United States from June 15 to 17, 2022.
Are travel cards worth?
A travel credit card is worth it when it allows you to earn points or miles that you can actually redeem for travel, benefits you can use to save time and money, and even protections to help when things go wrong on the road.
Are Travel Cards Better Than Cash? It is safer. A prepaid card is similar to having cash, but it’s safer than carrying too much or leaving it at the hotel even if it’s in the in-room safe. This is the main advantage of carrying one of these cards, as your money is safe in case of loss or theft of the card.
What is the point of a travel card?
A travel card is a type of credit card designed specifically for the needs of a traveler. A regular credit card offers rewards in the form of a cash refund or points that can be redeemed for gift cards, merchandise, and discounts. A travel credit card offers specific travel benefits.
What is a disadvantage of travel and entertainment cards?
As for the drawbacks, here are the main things to keep in mind: Many travel cards charge an annual fee, with premium travel cards exceeding $ 500 per year. Some travel cards charge overseas transaction fees, which apply to purchases made abroad.
What is the best way to take travel money to USA?
The best money options for travel
- Travel credit cards: almost perfect exchange rates and purchase protection.
- Travel debit cards: Almost perfect exchange rates with no credit check.
- Prepaid Travel Cards – Set a fare before you leave.
- Cash: Good as a backup when the card is not accepted.
What is the best way to bring vacation money to the United States? Credit Cards One of the safest ways to take holiday money is a credit card, as the security problem is minimal and you do not need to decide in advance how much money you will need. If you lose your credit card or have it stolen, you can contact the card provider and they will issue a replacement.
Is it better to take cash or card abroad?
The main advantage of using an overseas debit or credit card is that you will not pay overseas transaction fees every time you spend. While many will also not charge fees for cash withdrawals, you will usually be charged interest from the date of the transaction if you use a credit card.
Is it better to take cash or card to USA?
Many people think that it is better to withdraw cash from local ATMs when you arrive at your destination, in order to save on exchange fees and credit cards. On the other hand, others prefer to use a credit card while traveling because it can be more reliable and earn points in your account.
How do I get an American Express card?
In addition to having good to excellent credit and the rules about how many cards you can have or apply for, American Express will also review your credit report information, including your payment history and credit usage. Bottom line: You will need a good to excellent credit to be approved for an Amex card.
Can anyone get the American Express card? While it may be approved with a lower score, you will generally need excellent credit to qualify for the best American Express (premium) cards. The leading credit bureau Experian defines excellent credit as 800 or better and good credit as a score of 700 or better.
How rich do you have to be to have an American Express card?
You need an invitation to get it, unfortunately. You can also apply for an American Express Centurion® card online. While Amex doesn’t disclose the requirements, online reports say you have to spend at least $ 100,000 a year.
Is it easy to get approved for an American Express card?
In general, it’s harder to get an American Express card than it is to get a credit card from many other major issuers simply because all of Amex’s credit card offerings require good or excellent credit for approval.
How can I get an Amex card?
To create an online account or link a card to your existing online account, go to americanexpress.com/register. If you are an additional card member, when you set up your account online, you will need the basic card member’s date of birth and your personal information.
Can I use my Amex internationally?
American Express is accepted in more than 160 countries and territories internationally. This includes all members of the United Nations except those under US sanctions. However, Amex cards are more accepted in some international destinations than others.
Does American Express charge a fee for international use? American Express’s overseas transaction fees are 2.7% of all international transactions or 0%, depending on the Amex card. There are many American Express cards with no overseas transaction fees. These cards are usually the best options for traveling.
