RICHMOND, Va. (WWBT) - According to a new creditcards.com reports-- 39% of holiday air travelers will incur credit card debt. Add in the sobering fact that the average Thanksgiving air traveler will spend about $822. December air travelers will spend $1,033.
If you’re planning to stay in a hotel or airbnb, the average expected expense is $536 for Thanksgiving and $673 for the December holidays.
And the most popular method of payment is a credit card-- which often means you’ll accrue interest on those charges and those trips will cost you even more.
Now a significant number of Americans will use rewards points to offset at least some of the costs but, a similar number plan on incurring debt to see their families.
This is your stark reminder to budget for travel when you’re planning out your spending in November and December. If you put anything on a credit card-- your best option is to pay it off in full. If you need to carry a credit card balance, use a card with the lowest interest rate you can get.
Copyright 2019 WWBT. All rights reserved.