The summer travel season is upon us, and more consumers are looking for cheaper ways to travel. According to a new survey by Capital One, a little more than half of those that plan to travel this summer will use credit card rewards points. The survey last year found that only 42% of those that planned to travel were going to take advantage of their credit card rewards to help fund their travel.
For those that planned on using their rewards points, 58% planned on using the points for airfare, 42% for hotel costs, and 18% planned to use the points for gasoline.
The tough economy is putting more pressure on consumers to find more affordable ways to take a vacation. Card owners want to get the most out of their rewards points and lessen the impact of spending money on a vacation on their finances.