Summer Vacation Spending Survey: 8 in 10 Travelers Will Use Credit Cards This Summer

When Americans travel this summer, almost all of them will put it on their credit cards – and more than a quarter (30%) of them will spend at least $5,000.

A new Debt.com survey of 500 Americans shows 83% will pay for their trip using credit cards. Why credit cards? More than half (56%) say they’ll “earn cashback and rewards,” while 19% “can’t afford to pay cash, but still feel the need to get away this summer.”

For many, this is a repeat habit.

Just under 3 in 5 (59%) “have gone into debt for summer travel in the past.” Just over 1 in 3 (38%) say that debt restricted their back-to-school spending – and 46% had to cut back spending during the winter holidays.

Key findings

• Nearly 3 in 5 summer travelers will use credit cards to pay for a vacation. Of those respondents, 3 in 10 (30%) plan to charge at least $5,000 for their vacation – with 7% planning to charge $15,000 or more.
• Just under 1 in 5 (19%) said they’re using credit cards because they “can’t afford to pay cash to travel.” That includes 25% of Gen X, 18% of Millennials, 14% of Baby Boomers, and 9% of Gen Z.
• Just under 3 in 5 (59%) of respondents have previously gone into credit card debt for summer travel. That includes 66% of Gen X, 64% of Millennials, 47% of Baby Boomers, and 34% of Gen Z.
• More than 1 in 4 (27%) said they previously took on at least $5,000 for summer travel. It took 1 in 4 of them six months to a year to pay back the debt. Meanwhile, it took 15% more than a year.
• Over 1 in 3 (37%) of respondents said their summer travel debt later “restricted their back-to-school spending. That includes just under half (49%) of Gen X, 42% of Millennials, 30% of Gen Z, and 11% of Baby Boomers.
• More than 4 in 10 (46%) said their summer travel debt “restricted their holiday spending.” That includes More than half (57%) of Gen X, 47% of Millennials, 46% of Gen Z, and 22% of Baby Boomers.

How many people finance vacations?

What will summer travelers use credit cards to pay for?

How summer travelers pay for vacation when they don’t have cash

Why will summer travelers use credit cards for vacation?

Which generation has the most credit card debt from travel?

How summer travel credit card debt restricts future spending

How many Americans have summer travel credit card debt

Full survey results

Do you plan on using credit cards for summer travel?
Yes	82%
No	18%

How much do you plan on charging on your credit cards?
$0-$1,500	30%
$1,500-$2,500	21%
$2,500-$5,000	20%
$5,000-$7,000	11%
$7,000-$10,000	9%
$10,000-$15,000	4%
$15,000+	5%

What type of travel will you use credit cards for?
Vacation	64%
Wedding	8%
Visit family	20%
Funeral	2%
Honeymoon	1%
Visit friends	3%
Music event or festival	2%

Why will you use credit cards and possibly go into debt to travel this summer?
I can’t afford to pay cash to travel, but feel I need to	19%
I’ll earn more credit card cashback/rewards and I’ll just pay it back later in the year	57%
I’m young and have time to pay it off	7%
It’s a bucket list item	4%
I deserve it after working hard all year	6%
Life is short and you only live once	7%

How long do you think it will take you to pay the credit card debt back?
1-3 months	44%
3-6 months	20%
6-12 months	21%
1-2 years	10%
3-5 years	4%
Never, I don’t believe I can pay it back.	1%

Have you ever gone into credit card debt for summer travel in the past?
Yes	59%
No	41%

How much credit card debt did you take on for that summer trip?
$0-$1,500	39%
$1,500-$2,500	18%
$2,500-$5,000	15%
$5,000-$7,000	12%
$7,000-$10,000	5%
$10,000-$15,000	4%
$15,000+	5%

What type of summer travel caused you to go into debt?
Vacation	62%
Wedding	8%
Visit family	17%
Funeral	4%
Honeymoon	3%
Visit friends	4%
Music event or festival	2%

Why did you take on credit card debt for that summer trip?
I couldn’t afford it, but felt I needed to	19%
After years in lockdown from the pandemic, it was my “revenge travel”	17%
I thought I’d earn more cashback and rewards on my credit card and pay it back	34%
I was young and foolish with my money	7%
It was a bucket list item	5%
I deserved it after working hard all year	9%
Life is short and you only live once	10%

How long did it take you to pay the debt back?
1-3 months	40%
3-6 months	21%
6-12 months	23%
1-2 years	10%
3-5 years	4%
I haven’t fully paid it back and still owe money on the debt	2%

Did summer travel debt later restrict your back-to-school shopping?
Yes	38%
No	38%
Not applicable	24%

Did summer travel debt later restrict your holiday spending?
Yes	46%
No	54%

Methodology: Debt.com surveyed more than 500 Americans and asked 12 questions about their summer travel plans. People responded from all 50 states and Washington, DC and were aged 18 and above. Responses were collected through SurveyMonkey. Percentages were rounded up to the nearest whole number and might not total 100 percent. The survey was conducted on May 22, 2024.