Holiday season is quickly approaching, and inflation is impacting travel options for many Americans.
A new survey from Bankrate found most travelers are looking for ways to take a trip without breaking the bank, and many travelers are now considering taking a car instead of a plane to their destination.
This comes ahead of what is expected to be the busiest holiday travel season in at least four years.
About half of those surveyed in the new Bankrate report say they plan to rely on credit cards for their travel plans this year, and 21% say what they spend will carry over into the coming months.
“Seventy-seven percent of holiday travelers are making adjustments,” said Bankrate senior industry analyst Ted Rossman. “They don’t want to skip the trip entirely. They’re willing to drive instead of fly. They’re willing to stay in cheaper accommodations or pick cheaper activities.”
Rossman said you might find deals if you have flexible travel days.
“Could you go early? Or could you stay later? If you’re willing to fly the morning of Thanksgiving, that actually might be a big cost savings opportunity and hopefully you still get there in time for the family dinner,” Rossman said.
And make your money work for you.
“Take stock of your rewards points and miles, whether it’s cash back, credit card rewards or airline miles or hotel points, you may be sitting on more value than you realize,” Rossman said.
Other concerns for travelers are flight delays and cancellations, especially after a rough holiday travel season last year.
But you can book with a credit card that has strong travel insurance protections.
“A lot of cards will include these at no added cost, and they help with everything from damaged rental cars to canceled or delayed flights to lost or delayed luggage,” Rossman said.
If you haven’t done it yet, experts recommend booking your travel now rather than hoping for last-minute travel deals. The savings could be as high as 30%.