Most of the Americans are missing out $22 billion in free travel expenses annually

Tuesday, April 10, 2018

Most of the Americans are missing out on billions of dollars of free travel annually by failing to take the advantages of travel credit cards.

Collectively, the Americans leave $22 billion worth of free travel expenses on the table per year.

It is according to NerdWallet that on an individual level, those who don’t take advantage of travel rewards cards miss out on an average of $277 a year. That number is even higher for new cardholders who earn lavish sign-up offers.

These offers alone are worth an average of $450 after fees. Combined with points earned throughout the first year, the new cardholders receive an average of $901 in rewards.

In fact, the fear of taking on debt keeps 34 percent of Americans from signing up for a travel card at all. And if any one already in debt, it’s probably best to stay away.

But for consumers who can stay within their budget and plan to travel anyway, a travel rewards card will save them money over time, as rewards will reduce what they spend out of pocket for travels.

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