Bankrate also found that 29% of summer travelers will be choosing cheaper accommodations or destinations, a bigger share than 22% last year. And 26% — up from 19% — will be traveling fewer days.Aristide Economopoulos / Getty Images
“We couldn’t find a hotel for less than $450 in Portland, Maine, and the cost of traveling from there to Montreal was prohibitive,” he said, “so Ottawa, here we come!”34% doing so this yearCashing in travel points rather than stashing them away not only frees up money for other expenses, but it can also be a good inflation-fighting tactic, said French of NerdWallet.
But, thanks to rising rates, the remaining 26% who said they expect to carry travel-related balances could end up paying a lot more for their trips than they’d planned.“won’t move the needle much” on credit card rates, said Ted Rossman, a senior industry analyst for Bankrate, but after 10 consecutive increases, “the cumulative effect is significant,” he said.