Travel Credit Cards - WalletHub Survey

 With the summer travel season shaping up to be a hot one and roughly 1 in 4 consumers more interested in travel credit cards now than before Covid, according a new WalletHub survey, the personal-finance website today announced its picks for 2021’s Best Credit Cards for Summer Travel, highlighting deals worth $800+ in airfare, hotel reservations and more.

Below, please find key takeaways from WalletHub’s nationally representative survey and credit card report, along with commentary from WalletHub experts (audio files included).

• People Have Missed Travel Perks. More than a third of consumers missed being able to use travel credit card perks during the pandemic.
   
• Travelers Open to Paying With Rewards. 49% of people would use credit card rewards to pay for at least part of a vacation, up by 9% from before the pandemic.
   
• New Travel Concerns for 2021. Travelers are most concerned about weather and Covid this year, a change from money and terrorism pre-pandemic.
   
• Off-base Priorities for Some Travelers. 15% of people would skip a credit card payment over a vacation.
   
• Travel and Debt Are a Bad Mix. 28% of people say travel usually gets them into debt.
   
• Best Travel Credit Card of 2021. Capital One® Venture® Rewards Credit Card is the best credit card for summer travel because it offers an initial bonus worth at least $500 in travel, double miles on all purchases and a reasonable annual fee.

 
Q&A with WalletHub

Do you think the savings that a travel rewards credit card can provide are more or less important for consumers now than before the pandemic?

“The savings that a travel rewards credit card can provide are more important for consumers now than before the pandemic simply because Covid has hurt so many people financially. People need a vacation right now, and not everyone has the money to spare,” said Jill Gonzalez, WalletHub analyst. “The best travel credit cards can save you $500+ in the short term and around $2,000 over the course of two years, based on the average person’s spending habits.”  

Do you think the pandemic made people miss being able to use travel credit card perks?

“More than 1 in 3 people say they’ve missed being able to use travel credit card perks during the pandemic, according to a new WalletHub survey. There are lots of credit card benefits that make sense to long for, from airport lounge access to free flights and hotel nights, but it’s ultimately clear that what people really miss is travel itself,” said Jill Gonzalez, WalletHub analyst. “Feeling free to use travel credit card perks again is a sign that things are getting back to normal.”

Should people consider traveling if it will get them into debt?

“Traveling out of town is a luxury, not a necessity, and you should not plan a trip if you cannot afford it without leveraging debt. The 28% of people who say that travel usually gets them into debt are doing it wrong,” said Jill Gonzalez, WalletHub analyst. “There are plenty of low-cost or free ways to relax and have some fun while still sleeping in your own bed at night and saving up for next year.”