Travel is back with a vengeance after a two year slowdown and it shows no signs of slowing down. According to new data from Vacasa, 58% of respondents are planning to take a vacation this fall. It is an increase over 2021, when 53% of respondents planned to take a fall trip. And people will travel, even if they don’t have the funds to do it. The FOMO urge is very strong, especially with Millennials and Gen Z. A recent travel survey from Credello found that out of 500 Millennials surveyed, 45% said they’ve gone into debt for travel and would do it again.
You can see this overwhelming urge to travel reflected in a new TikTok trend in which people from these generations post a video of themselves traveling with the caption, “I’ll make the money back, but I’ll never be in my 20s again traveling to [insert destination].” Traveling and experiences are currency for these generations while for Gen X and Boomers it was cars and houses.
Travel is expensive. Even if you cut corners it is still a lot for most people. But one way to offset these costs is to use credit card reward points to offset the dining cost. This can be a great way to save money on your vacation and also help you earn points that can be used for future travel. Whatever method you choose, be sure to plan so that you can enjoy your trip without breaking the bank.
How do credit cards rewards work?
First of all, how do credit cards rewards work and how can they help you save money on travel? Credit card reward points can seem like a confusing and complex topic, but understanding how they work is actually pretty simple. Here's a quick guide to getting started. Credit card companies offer rewards programs as an incentive for customers to use their cards. Each time you make a purchase with your card, you earn points that can be redeemed for cash back, merchandise, or travel. Some credit card companies also offer vacation loans, which allow you to borrow against your points to pay for your trip.
To get started, just look for a credit card that offers the rewards program that best suits your needs. Then start using your card for all of your everyday purchases. Before you know it, you'll have plenty of points to redeem for the things you want.
Save on dining today and earn rewards for tomorrow
Americans spend a lot of money on dining out. Did you know that the average person spends about $1,200 on dining out every year? That might seem like a lot, but it's actually not that surprising when you think about all the money we spend on coffee, lunch, and dinner. And it's not just money that we're spending – we're also spending time. The average person spends about an hour and a half per day eating meals, which adds up to almost six hours per week. So wouldn’t be there a great way to earn money, in a sense, from something you enjoy doing?
It's no secret that dining out can be one of the quickest ways to rack up travel rewards. Whether grabbing a quick bite on your lunch break or enjoying a leisurely meal with friends, there are plenty of opportunities to earn rewards that can be used for future trips. One of the easiest ways to earn rewards on dining purchases is to use a credit card that offers bonus points or miles for restaurant spending. Many travel-branded credit cards offer elevated rewards rates on dining, so it's worth researching to find the card that best fits your needs.
Some of the best credit cards for dining include the Chase Sapphire Reserve, which offers 3 points per dollar spent on dining and travel, and the American Express Gold Card, which offers 4 points per dollar spent at U.S. restaurants. Other cards, such as the Citi Premier and the Wells Fargo Propel American Express card, also provide bonus points for dining purchases. Doing a bit of research makes it possible to find a credit card that offers rewards that best fit your spending habits.
A few other to consider are The Citi Prestige card which offers 5x points on airfare and dining expenses, and comes with a $250 annual airfare credit. It also includes VIP treatment at select restaurants and hotels around the world. You can also redeem your points for travel rewards, such as free flights and hotel stays. Plus, if you book your travel through the Citi Prestige Concierge, you can get access to special deals and perks.
Overall, the Citi Prestige card is a great option for anyone who loves to travel and dine out. The American Express Platinum card offers 5x points on airfare and dining expenses, and comes with a $200 annual airline fee credit. It also gives cardholders access to the American Express Global Lounge Collection, which includes over 1,000 airport lounges worldwide.
Programs like Chase Ultimate Dining offer cardholders significant discounts at some of the best restaurants in the country. To take advantage of these discounts, simply use your Chase Ultimate Dining card when you make a reservation. Then, present your card when you're ready to pay the bill. You'll instantly save on your total purchase, making it easy to enjoy a delicious meal without breaking the bank. So next time you plan a night out, use Chase Ultimate Dining to save on your dining expenses.
Another option is to use a mobile rewards app like Rewards Genius, which allows you to earn points or cash back on dining purchases at participating restaurants. Simply download the app and link it to your credit or debit card, and you'll start earning rewards with every qualifying purchase. With some planning, earning travel rewards on dining purchases can be effortless. So next time you plan a night out, remember that your dining choices could help you get closer to your next dream vacation.
Using your credit card wisely when dining out can help you rack up the rewards quickly. Just make sure to pay off your balance in full each month to avoid interest charges.