Travel rewards help cut costs on summer vacations amid rising prices
Canadians are changing their travel plans this summer due to rising costs of flights and hotels, according to a new Leger poll.
The poll found one third of Canadians have changed or cancelled their vacation plans because of costs. Of those people, 43 per cent are opting for less expensive accommodation, 41 per cent are cutting back on activities and attractions, and 39 per cent are taking shorter trips.
“Travel costs are on the rise,” says Natasha Macmillan, director of everyday banking with Ratehub.ca. “People are active and wanting to get back out, so we’re starting to see those costs rise more and more over time.”
With demand and inflation driving costs up, Macmillan suggests optimizing travel reward credit cards to find deals.
“It’s a great way to save on travel, hotels, miles and much more by using it on everyday purchases.
“A lot of our employees have talked about how, over time, they’ve managed to pay for entire vacations, depending on their spending.”
Macmillan stresses it’s important not to sign up for multiple credit cards, but instead to find the card that works best for your spending and reward needs.
“For example… every week for a family of four, I’m spending $250 to $300 on groceries. How can I maximize my point rewards in that sense? Because it’s something I have to spend on and it’s going to be reoccurring, so let me try to identify a credit card that works for that expense.”
For people already using travel reward cards, it’s worth checking point balances before making travel plans.
“Chances are you’re sitting on a lot of points already that can be used to book things like flights, hotels or rental cars,” says Tamara Elliott, travel blogger at Globeguide.ca. “And if you don’t, now is the time to sign up
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