Are Americans, And Their Wallets, Ready For Summer Vacation?

Summer is upon us, and many Americans are ready to get outside and do the things they were not able to do last year during the pandemic. According to a report from CNBC, nearly 70% of Airbnb searches for Memorial Day weekend 2021 are for off-the-beaten-path locations that are 50-300 miles from travelers’ homes.

However, travel miles might not make up a large part of the vacation equation. A WalletHub survey found that 55% of respondents have never used credit card rewards to pay for at least part of a vacation. In addition, 77% of people are less interested in travel credit cards now than before COVID, and for those who already have them, 49% don’t use the rewards on their travel cards for anything!

If your credit union is planning to entice their members to sign up for a travel card, the miles they earn on that card need to go toward products and services they will use. Get a sense of their spending habits and how they travel. It also helps to make sure that it’s simple to access and use the miles they earn.

Are Americans, And Their Wallets, Ready For Summer Vacation?

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