Forbes Advisor: 70% of travelers plan to redeem points for trips planned for the the rest of this year

Forbes Advisor survey reveals 87% of Americans plan to travel by year-end, with most using travel credit cards to fund trips, highlighting the persistent allure of travel despite economic challenges.

The article Forbes Advisor: 70% of travelers plan to redeem points for trips planned for the the rest of this year first appeared in TravelDailyNews International.

A travel credit card can be a valuable tool for those who travel enough and the way cardholders choose to leverage their card and its benefits can vary. One cardholder may save their points for a dream trip, while another user may only check their points balance when they’re starting to feel the desire to get away. But what are the favored travel card strategies nationwide? In a new survey, Forbes Advisor explored how consumers are leveraging their travel credit cards and redeeming points and miles for trips. The survey also examined travel trends for the rest of 2024.

Survey highlights include:

• The vast majority of respondents (87%) plan to travel before the end of the year, with 44% planning to travel domestically, 16% planning to travel internationally and 27% planning to travel both domestically and internationally.
  – Of the participants with upcoming travel plans this year, 80% will use their travel credit card to pay for those trips.
• 59% of travelers say they use their travel credit card both to book travel ahead of time and to pay for expenses during the trip.
• Half of consumers report redeeming points and miles only for travel expenses, while 44% said they have redeemed them for other expenses (ex. statement credits or cash back).
• Respondents were more likely to redeem points/miles for a domestic trip (44%) than an international trip (14%), though 34% said both are equally as likely.

Commenting on the study, Forbes Advisor Credit Cards Expert Becky Pokora says, “Americans are still keen to travel between now and the end of the year despite high costs – our survey found most respondents expect to charge a minimum of $2,000 on their travel credit cards for trips. For the past few years, we’ve seen travel establish its foothold as a regular expenditure rather than an occasional luxury despite inflation. With two peak travel seasons (summer and the holiday) still to come in 2024, we suspect Americans will do everything they can to commit to their travel intentions.”

The article Forbes Advisor: 70% of travelers plan to redeem points for trips planned for the the rest of this year first appeared in TravelDailyNews International.