McAlester News-Capital, McAlester, OK

Breaking News

Features

May 3, 2013

How credit cards can help pay for summer travel

(Continued)

Other cards, like the Capital OneVenture Card, can provide long-term value. It offers the miles equivalent of 2% cash back across all purchases as long as you redeem them for travel-related purchases.

Also in that category, the Blue Cash Preferred from American Express offers 6% cash back on groceries, 3% on gas and department store purchases, and 1% on everything else, making it a great card for everyday spending as well as road trips. It carries a $75 annual fee but you get a $150 initial rewards bonus for spending at least $1,000 during the first three months.

If you think that you might need several months to pay for your summer vacation, putting everything on a 0% interest card might save some money. Among the most attractive cards in this category, Papadimitriou says, is the Slate Card from Chase. Transferring existing debt to this card before using it to pay for your trip offers two distinct advantages. There's no balance transfer fee and it comes with a 15-month interest-free introductory period.

“I’m a big fan of the Island Approach, which entails using a different credit card for different types of transactions in order to amass the best possible collection of terms, but that’s certainly not for everyone,” Papadimitriou said. “Many consumers instead value the simplicity of having a single credit card in their wallets. But if you go that route, getting the right card for your needs becomes even more important. In other words, you should only get a rewards card if you always pay your bill in full and a travel rewards card if you embark on numerous trips each year.”

Another bit of advice if you are traveling outside the U.S. Papadimitriou says always pay your bill in the native currency. Most foreign businesses will let you pay for credit card purchases in dollars, but usually charge a fee to do the conversion.

Story provided by ConsumerAffairs.

Text Only | Photo Reprints
Features
Seasonal Content
AP Video
US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Crash Victims' Remains Reach Ukraine-held City Diplomatic Push Intensifies to End War in Gaza Obama Offers Condolences at Dutch Embassy Cat Fans Lap Up Feline Film Festival Raw: Lawmakers Scuffle in Ukraine's Parliament The Rock Finds His Inner 'Hercules' Michigan Plant's Goal: Flower and Die Raw: MH17 Passenger Remains in Kharkiv, Ukraine Raw: Israel Hits Gaza Targets, Destroys Mosques ShowBiz Minute: Hoffman, Oberst, Box Office WWII Vet Gets Medals, 70 Years Late Raw: Israel Bombs Multiple Targets in Gaza Veteran Creates Job During High Unemployment Raw: Cargo Craft Undocks From Space Station Widow: Jury Sent Big Tobacco a $23B Message New Orleans Plans to Recycle Cigarette Butts UN Security Council Calls for MH 17 Crash Probe Obama Bestows Medal of Honor on NH Veteran
NDN Video
Samsung Pre-Trolls The IPhone 6 With New Ad Jimmy Kimmel Introduces His Baby Girl Swim Daily, Nina Agdal in the Cook Islands Guilty Dog Apologizes to Baby for Stealing Her Toy Prince George Turns 1 and is Already a Trendsetter Train Collides With Semi Truck Carrying Lighter Fluid Kanye West Tells-All on Wedding in "GQ" Interview Tony Dungy Weighs in on Michael Sam Scarlett Johansson Set To Marry In August New Star Wars Episode XII X-Wing Revealed Obama: Putin must push separatists to aid MH17 probe Michigan inmates no longer allowed to wear orange due to 'OITNB' Adam Levine Ties the Knot Sebastian The Ibis Walks Beautiful Bride Down The Aisle | ACC Must See Moment NASA Ceremony Honors Moon Walker Neil Armstrong Faces of Souls Lost in Malaysian Plane Crash 105-year-old woman throws first pitch Man Creates Spreadsheet of Wife's Reasons for Turning Down Sex 'Weird Al' Is Wowed by Album's Success Rory McIlroy struggles, surges, wins British Open
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.