I take a vacation with a friend each January that we... - Travel with Credit Cards Questions


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Credit Card Applications » Questions » User Questions » Travel with Credit Cards » I take a vacation with a friend each January that we split. Would it be wise to open up...

I take a vacation with a friend each January that we split. Would it be wise to open up a 0% interest rate card each year to charge this vacation to and get the rewards seeing as I would be completely paying it off by the time the promotional period would be over? Or should I just continue to use my existing credit card for this?

Answered on | Updated on March 31st, 2015
The content is accurate at the time of publication and is subject to change.

If you are sure you will be able to reap rewards and pay off the cards by the due date you can use this method. However, you should remember that multiple hard inquiries are not good for your credit score and credit card issuers may become suspicious.  The issuers do not like credit card churning. Instead, you can get two or three credit cards which earn different rewards and come without an annual fee. If your existing credit card does not earn rewards, you may want to replace it with a travel rewards credit card like the Discover it® Miles. This card comes with 0% intro APR on purchases (when the introductory interest rate is over, the ongoing APR will apply) and low APR on balance transfers. It will allow you to earn 1.5 miles per dollar spent. Miles can be redeemed for cash or travel expenses like tickets, hotel rooms, and rental cards. If you want to avoid interest payments, you can apply for another 0% intro APR credit card. Choose the one with rewards and with no annual fee. Think which credit card or combination of credit cards will be best for before you apply.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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