Inflation Worries Affecting Summer Travel Plans

WalletHub, a personal finance website, announced its picks for the Best Travel Credit Cards. The announcement is accompanied by a new WalletHub survey that found that 3 in 5 Americans are saying that inflation is affecting their travel plans.

  • Inflation Deflating Travel Plans: 3 in 5 Americans say inflation is affecting their travel plans.
  • Frugal Summer Ahead: 55% of Americans plan on spending less money this summer than last summer.
  • Debt-Worthy Vacations: 1 in 4 people say it’s worth going into debt for a good vacation.
  • Vacation-Bill Blues: Roughly 3 in 5 people think about post-vacation credit card bills while they’re on vacation.
  • Packing New Credit: 16% more people than last year say they are “very likely” to apply for a new credit card before vacation this summer.
  • Rewards-Fueled Vacations: 38% of people plan to use credit card rewards to pay for a vacation this year.
  • Vacation Hunger Strike: 38% of Americans say they would stop dining out for a year to earn a free summer vacation.
  • Best Travel Credit Card: The Capital One Venture Rewards Credit Card is the best credit card for summer travel because it offers an initial bonus worth $750 in travel, along with double miles on all purchases and a reasonable annual fee.

See the full results of WalletHub’s Summer Travel Credit Card Survey and read WalletHub’s commentary below. The key takeaways from above as well as the commentary below are available in audio and video formats. Feel free to embed the YouTube video or edit the raw files as you see fit.