Trying to save money with credit card sign-up bonuses might make you spend more than you can afford, according to a new survey.
How rewarding are those credit card sign-up bonuses, really? A new survey suggests that some people trying to save money with travel rewards cards end up overspending so that they can collect the bonus offer.
Millions of Americans are still traveling this summer despite the costs of plane tickets, gasoline, rental cars and lodging all going up in 2022, according to NerdWallet. And some travel price increases are even outpacing record inflation, which has reached its highest levels in 41-years. The ValuePenguin poll commissioned by Qualtrics was conducted online in June 2022, surveying 1,008 American consumers. It found almost half of Americans are thinking about applying for a travel credit card in the next six months. And among those who have already been approved for a new travel rewards card, more than 4 in 10 opened their card specifically for the sign-up bonus.
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