'No bonus is worth going into debt': Americans are overspending for travel perks

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'No bonus is worth going into debt': Americans are overspending for travel perks
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Among those who have already been approved for a new travel rewards card, 45% opened theirs specifically for the sign-up bonus, according to a new survey. Many of them ended up spending more than they could afford.

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. See also: ‘Nobody wants to work anymore’ has been said for 100 years. It wasn’t true then, and it isn’t true now.

Any scenario where people are spending more than they can afford is not a sustainable idea, so it’s best to spend within your means. Consult MarketWatch’s personal finance section if you are looking for additional tips on spending responsibly and making your credit cards work for you.

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