Last winter, 33 million Americans wanted to travel during the holiday period. However, they didn’t have enough money to cover the costs. While 16% of consumers planned on using a credit card to pay for their vacations, almost half of them didn’t know that airlines offered rewards programs. For example, the Southwest VISA card gives travelers a $75 credit that they can spend each year, alongside reward points for every dollar spent.
Because of airline and hotel prices, many people miss out on opportunities that allow them to visit new places and grow from their experiences. Others forgo professional development workshops and conferences to dodge airfare and/or lodging costs.
A rewards travel credit card, on the other hand, has two key benefits in one program. First, you build your credit. Second, consumers gain points by spending on general expenses. When they make purchases at the grocery store or gas station, card holders can tally up their rewards until it’s vacation time. Above all else, getting out of town is good for your heart and general health.
A Best of Both Worlds Scenario
Almost all commercial airline companies offer a benefits credit card. Some of them have several programs and credit amounts, just as banks do.
This is advantageous because of the low-cost or (at times) free travel opportunities. Even more so when the rewards apply to different types of purchases.
For example, the Southwest VISA gifts users a point for every dollar they spend. It doesn’t matter if consumers buy items at a gas station, retail store, or online.
Moreover, Southwest VISA cardholders are awarded two points on each dollar they use to purchase tickets or book a hotel.
Apart from the savings, travel lines of credit let you build your score and qualify for larger funding amounts in the future.
In other words, travelers can use this feature to cover daily expenses (as they normally would). After that, they strengthen their credit scores and qualify for cheap plane tickets and/or hotels.
Students can take advantage of this to attend conferences and seminars. They grow their networks and expand their future career prospectives while also saving money on travel expenses.
Parents will experience new things with their children, and retirees have the chance to vacation in a tropical getaway.
Traveling allows people to visit new places, make friends, and grow on a personal level. In addition to this, getting out of town for a brief period can help reduce stress, anxiety, and fatigue.
As a matter of fact, men who regularly go on vacation are 32% less likely to die from heart disease. Amongst women, there is a direct correlation between cardiovascular health and how often they travel.
Putting a dollar value on personal wellbeing is hard. However, it goes without saying that low stress and high workplace productivity can lead to plenty of financial rewards.
Add to that the savings on medical costs at an older age or during retirement. Travelers can thank their healthy heart for this.
What If I Don’t Like to Travel? Programs Like the Southwest VISA Are Still Beneficial
Getting a rewards credit card is still advantageous for several reasons. Being able to grow your credit score, in its own respect, is a great prize.
Similarly, many airline companies allow consumers to transfer their travel benefits to friends or family members.
The Southwest VISA, for instance, lets cardholders transfer up to 60,000 rewards points per day to a traveler of their choosing.
Another key point to consider is that most Americans prefer to vacation and visit new places. Affordability, however, is the key obstacle.
For example, during the summer of 2018, 49% of US consumers did not travel. Half of them (a quarter of Americans) said that is was too expensive to do so.
Most people opt out of vacationing because of the cost. Without taking this into account, it is easy to mistakenly believe that American workers prefer to stay in-town.
Spend Money, Build Credit, and Get Rewarded
Travel credit cards can make life easy. Consumers earn points for shopping at their favorite stores and taking care of other daily expenses.
After that, their rewards add up and allow them to travel for little-to-no costs. Some programs, including the Southwest VISA, give extra points on certain purchases.
Those who don’t like to leave town may transfer their points to friends or family. However, the odds are that most consumers will start treating themselves by going on vacations that they previously couldn’t afford.
Just as importantly, they build credit while doing so.