How to Mitigate Post Vacation Credit Card Debt

The busiest travel season is now upon us, that’s right it’s Summer time. But before you go soaking up the sea, sand and sun, here are some tips to help mitigate post vacation credit card debt:

1).Know credit card payment dates.

Missing payments hurts your credit score. Therefore, when traveling, it is essential that you set up payment ahead of time, using mobile banking. That way, even when lounging on the beach, you can rest assured that your credit card payment is made on time. As you should know, paying off credit card balances on time will help establish a good payment history.

2). Select a card with travel benefits.

If you are a travel fanatic and your vacation includes a lot of travel? Do some research and consider switching to a credit card that offers better travel-related rewards that can save money on airfare, hotels and car rentals. Don’t run up a credit balance just for points, even though that could raise your credit utilization ratio.

3) Go old school — bring traveler’s checks.

Use traveler’s checks to avoid relying on a credit card when vacationing abroad – and to protect against credit card theft. They’re replaceable, convenient and won’t impact your credit report if stolen.

5) Check your credit before and after travel.

Approach credit proactively. Check your credit report before and after a trip. If your identity has been compromised while you were traveling, the sooner suspicious or fraudulent activity is detected, the sooner you can take action to resolve the problem. You can get a free copy of your credit report each year from CRIF NM. Whether you want to admit it, life is always better with good credit.

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