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Epoch Times
27-05-2025
- Business
- Epoch Times
6 Expert Tips to Travel Smart and Stay out of Debt
Ana Staples Traveling for vacation gets expensive fast. It's no wonder more than half of U.S. adults (54 percent) are planning to skip travel altogether this summer, according to Bankrate's Summer Travel Survey. And of those who do plan to travel, almost a third (29 percent) are expecting to go into debt to pay for it. Many Bankrate experts have a rule not to carry a credit card balance, but we sure love to travel. And I'm going to share with you our favorite tips on how we make vacations happen without going into debt. Plan Far in Advance It's such a romantic notion to fly somewhere on a whim. I'd love to be that person who suddenly decides on a Friday night to spend the weekend in Spain and then simply does it. Sadly, that would put me in the kind of debt I can't afford. If that's true for you too, plan as far in advance as you can, says Bankrate's credit cards writer Ryan Flanigan. 'You can often get better prices or availability the further out you book,' Flanigan explains. 'Also, you can budget how much you need to save or make a plan to earn the miles and points you need for your trip.' Use Credit Card Rewards Speaking of rewards credit cards, I would be able to afford very little travel without them. For that reason, I try to book flights and hotels for every trip with points and miles. Related Stories 5/5/2025 1/21/2025 Sarah Gage, Bankrate's credit cards managing editor, does the same. 'That way, my only expenses are food (outside of what I can get for free at the hotel), transit and excursions,' she says. 'It's not always doable—we're going to VidCon this year, and there's no way to do the hotel on points, for example—but it makes a major difference in the overall number and quality of trips we can take.' Besides, travel credit cards, as well as hotel and airline loyalty programs, sometimes offer extra perks. For example, I greatly enjoy expedited airport security and lounge access that comes with my Capital One Venture X Rewards Credit Card. Bankrate senior writer Katie Kelton earns her points with Southwest. Doing so gets her some free travel as well. 'Lately, my boyfriend and I have been making good use of the Southwest Companion Pass!' she says. 'It's gotten us to Hawaii and Montana just this year.' Have a Separate Savings Account It's best to save cash for everything that you don't pay for with rewards. Think the portion of the hotel costs you don't have enough points for, food, entertainment, shopping, and anything else you want to do on your vacation. I like to keep my travel fund separate from my emergency savings. This is the money I save specifically to spend on vacations without feeling guilty for touching my rainy day fund. It helps to compartmentalize and keep things structured. For both my emergency fund and travel fund, I have high-yield savings accounts. This type of account tends to offer much higher returns than a traditional savings account. Be Open-Minded on Destination Certain places are more expensive to go to than others. But spending less money doesn't mean you'll leave with fewer amazing memories. 'I'm a fan of letting the deal plan the trip,' says Brooklyn Lowery, a senior editor on Bankrate's credits cards team. 'We have some places we know we want to go, but we're also just travel-curious. If I spy a great flight deal—either points or cash—I'm likely to say, 'Let's go there!' and figure out the details later.' Lowery notes that such an approach doesn't always lead to the cheapest option overall, but the random destinations they've been to have never been disappointing. Liza Carrasquillo, a credit cards editor for Bankrate, also likes to rethink destinations. 'I can't afford to go to Japan to see the cherry blossoms right now, but I can take a long drive to Washington, D.C.,' she says. Be Flexible With Timing It helps to be flexible with where you're going—as well as when you're going there. For example, traveling during any kind of major holiday might save you some paid time off. The problem is, many people have the same idea. This causes increased travel demand and, as a result, higher airfare prices. Kelton also suggests traveling during the offseason, 'like eyeing Portugal in the early winter.' It also matters what day and time you're traveling, notes Carrasquillo. 'Flying super early or on red eye flights, as well as flying out during the week, can save money,' she says. Seek Ways to Bring Costs Down Finally, there are ways to bring your traveling budget down that go beyond flights and accommodations. Kelton offers some examples. 'I also often book with Turo because it's cheaper and has better options than traditional rental car companies,' she says. 'And I opt for Airbnbs because you can find unique, cool stays for as good or better prices than hotels.' I also like to get creative when it comes to saving on travel. For instance, I went to Germany for nine days last year and spent under $500. I used public transport and walked a lot, ate like a local and shopped for groceries. It was as unforgettable as it was inexpensive. The Bottom Line A vacation can be a tough thing to afford if you're hoping to travel. Plenty of people are even willing to go into debt for it—but it doesn't have to be that way. From planning far in advance to using credit card rewards and staying flexible, there are steps you can take to make your vacation happen without running a balance. Safe travels! Copyright 2025 Distributed by Tribune Content Agency, LLC. Dear Readers: We would love to hear from you. What topics would you like to read about? Please send your feedback and tips to
Yahoo
22-04-2025
- Business
- Yahoo
Capital One, Discover merger is officially a go
Capital One has finally received all of the necessary regulatory approvals for its acquisition of Discover, 14 months after first announcing the $35.3 billion deal. Once the deal officially closes on May 18, the combined entity will be the largest U.S. credit card issuer in terms of loan balances (roughly $250 billion). It's a flashy corporate move, but let's dig into the details about what it actually means for these two well-known entities. The crown jewel of Capital One's acquisition is Discover's payments network. While Discover currently ranks a distant fourth behind Visa, Mastercard and American Express in terms of credit card processing volume, owning a payments network is a key differentiator for Capital One as it seeks to expand its business. Visa and Mastercard are massive payments networks, but they're not lenders. That is, they only process transactions – they don't extend credit. Companies like Chase, Citibank and Wells Fargo are major lenders, but they don't operate their own credit card networks. Capital One used to fall under that umbrella, but now, like American Express, it will play both sides of the fence. Transaction processing is a steady revenue producer that doesn't bear the same risk as lending money. With each passing year, more transactions are made via credit and debit cards and cash continues to fall by the wayside. The typical credit card interchange fee is 2.2 percent, according to The Nilson Report. Most of that actually goes to the card issuer, even though the rate is set at the network level, but the payment processor gets a piece. Capital One will now earn a bigger slice of an ever-expanding pie, and there's the potential to achieve significant economies of scale. And not just on the credit card front, as Discover operates an even more prominent debit card network. Capital One, like Discover, built a reputation as a leading subprime credit card issuer. In fact, one of regulators' primary concerns was that the combined companies would have too much subprime market share. Both companies have expanded beyond those roots, though: Discover into more of a Main Street market position, catering to 'prime revolvers' (middle-class customers with good credit scores who carry credit card balances from month to month) and Capital One with more of a 'heavy spenders' philosophy, looking to court the kinds of affluent travelers who have historically gravitated more to American Express. Capital One has copied numerous pages from Amex's playbook in recent years, such as building out proprietary, Capital One airport lounges and introducing a luxury travel card (the Capital One Venture X Rewards Credit Card) with a hefty annual fee ($395) and a host of benefits such as airport lounge access, a $300 annual credit for purchases through Capital One Travel, a credit for a Global Entry or TSA PreCheck membership and more. Amex touts a multifaceted financial strategy that is less dependent on balance carriers and relies more heavily upon more predictable revenue sources such as card processing income and annual fees paid by its premium customer base. Capital One, especially with the Discover acquisition, is pushing into card processing. Plus, it already has a deeper subprime and middle-class customer base than Amex, and the Discover acquisition will further enhance that segment of its business. While Capital One and Discover both have deposits businesses, they're not nearly as diversified as the largest U.S. banks (Chase, Citi, Bank of America and Wells Fargo). These megabanks are major players in everything from deposits to credit cards, mortgage lending, auto loans, investments and more. They even have large trading desks. Capital One and Discover aren't as focused on most of those areas. That's another reason I see the combined Capital One and Discover entity challenging American Express' credit card market position more than trying to become Chase or Bank of America. Existing Capital One and Discover cards will remain as-is for the foreseeable future, as will communication methods such as customer service channels. That's another benefit to the acquisition: Discover has ranked first or second in the J.D. Power Credit Card Satisfaction Study every year since its inception in 2007. Guess who has the most first-place finishes? That's right — American Express. Improved customer service — of at least the perception of it — is yet another way Capital One can utilize the Discover acquisition to enhance its market position. Capital One's acquisition is a smart move that ultimately all comes back to American Express. Capital One is the hunter, and they're in hot pursuit of Amex's unique position as a card lender/network with a big-spending customer base that loves to travel and appreciates great customer service. Have a question about credit cards? E-mail me at and I'd be happy to help. Sign in to access your portfolio
Yahoo
28-03-2025
- Yahoo
30 Hours in the World's Best Economy Airline Seat
Kara and I have flown a lot since launching our YouTube channel — like, hundreds of flights. We've slept on airport floors, flown in more economy seats than we can count, and yes, we've even been lucky enough to sip champagne in business and first class at 35,000 feet. I would be lying if I didn't say that flying business or first class is the best thing ever, but sometimes, we'll still opt for an economy seat if it's a better deal. And if you're going to fly in economy, you might as well fly in the best one. Curious? I'm talking about the award-winning Qatar Airways. For all you miles and points fans out there, our team at Daily Drop took on the challenge of finding out if Qatar Airways economy is really as good as the hype suggests. To do that, they spent 30 hours straight flying in economy and documented the whole experience on YouTube so you don't have to. Thirty hours? You read that right. Our brave content creator, Brendan, and his wife recently completed a whopping 30-hour journey from Washington D.C. to Bali with Qatar Airways — all in economy. And they filmed the whole thing. Not only did they test out the full Qatar experience over two long-haul flights, but they also pulled it off for just a few hundred bucks instead of the usual $2,500 price tag. The journey began at Washington Dulles International Airport (IAD), where they kicked things off in style at the Capital One Lounge. Just because you're flying economy doesn't mean you can't enjoy a little pre-flight luxury, right? They got in thanks to their Capital One Venture X Rewards Credit Card. If you're looking for free breakfast, coffee, and a few snacks to save for later, then consider applying for a premium card like this that comes with airport lounge access. Once onboard the Qatar Airways A350, Brendan immediately noticed that this wasn't your typical cramped economy seat. No, it's not business class, but the seat was comfy and came with a modest pillow, a decent blanket, and a pair of headphones that, while functional, could certainly be improved. The entertainment system, however, was a different story. It was loaded with movies and TV shows, making the 12-hour flight much more bearable. The only minor setback was the lack of a standard headphone jack. This meant he couldn't use his AirPods and had to rely on the old-school headphones provided by the airline — I've been there before, and it's not fun. The in-flight dining? Surprisingly great. Qatar offered a choice of vegetarian pasta or chicken with vegetables. While not Michelin-star material, the food was much better than expected for economy and beat the mystery meat you sometimes get on planes. They even threw in some Biscoff cookies — a personal favorite of ours. It's the little things. Now, let's talk about how Brendan and his wife managed to secure those $2,500 tickets for only a couple hundred dollars. Qatar Airways is part of the oneworld alliance which allows for several options when booking flights using miles and points. The key here is knowing which miles program will give you the best deal. Qatar Airways uses Avios (the same frequent flyer miles used by British Airways), which made booking the tickets much easier. Brendan transferred 100,000 American Express Membership Rewards from The Platinum Card® from American Express and the American Express® Gold Card to Qatar Airways. They paid just $270 in taxes and fees total, so this redemption gave them a pretty solid value of about 2.27 cents per point. After a quick layover in Doha, it was time for round two — a 9-hour flight to Bali on an older Boeing 787. If there's one thing to note about flying economy on Qatar Airways, though, it's that the airline excels at providing a consistent experience across different aircraft. While the A350 was a bit newer and flashier, the Boeing 787 still offered a comfortable economy seat with decent amenities. So, does Qatar Airways offer the best economy seat in the world? While it's definitely up there, Brendan is not entirely convinced it deserves the title of 'best in the world.' The seats were comfortable, the food was decent, and the overall experience felt more premium than your typical economy flight. It wasn't life-changing, but it was absolutely one of the better economy experiences he's had. So, would Brendan fly Qatar Airways economy again? Absolutely! If you want to learn more about how you can use miles and points to fly for (nearly) free, check out Daily Drop. We send out a daily newsletter and create other helpful resources that teach you how to maximize credit card rewards get access to fancy lounges, and book bucket-list experiences.
