TREE - With 57% of Americans Planning a Trip in 2021 Travel Credit Cardholders Are Collecting More Rewards According to a ValuePenguin.com Survey

1 in 5 consumers says they plan to open a new travel credit card this year.

PR Newswire

NEW YORK , Jan. 26, 2021 /PRNewswire/ -- With a potential end to the coronavirus on the horizon and cabin fever at an all-time high, Americans are eager to take a much-needed vacation. In fact, not only have consumers planned a trip, at least 16% have already booked travel for this year.

"It's definitely not surprising to hear that people are starting to book trips with the news of a vaccine," said Stella Shon , travel credit cards writer at ValuePenguin. She also expressed, "this is a great time to open a new travel rewards credit card." She noted, the sign-up bonuses have never been better, and it can take up to three months to lock them in. In addition, since most people won't be traveling until the summer or the latter half of 2021, now is prime time for earning points.

Key findings:

• Nearly 6 in 10 (57%) Americans have a trip planned for 2021. Younger consumers are especially ambitious about their travel prospects, as 68% of millennials and 65% of Gen Z have a vacation on the books, compared to 57% of Gen X and 42% of baby boomers.
• As soon as the first vaccine doses went out, 22% of millennials, and 16% of respondents overall, booked a trip. What's more, 14% of respondents had purchased a flight within 30 days of taking the survey (which was conducted in late December).
• Consumers are most likely to splurge on special once-in-a-lifetime activities for their first big post-pandemic trip. The next top splurge was the destination itself, followed by lodging.
• While planning travel for the new year, 47% of travel credit cardholders are using those cards more to rack up rewards. Plus, nearly 1 in 5 consumers said they plan to open a new travel credit card to score a deal.
• 57% of consumers believe airlines should require passengers to have a COVID-19 vaccination to travel.

View full report: Travel and Travel Credit Cards in 2021

About ValuePenguin.com: ValuePenguin.com, part of LendingTree (NASDAQ: TREE), is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with the other possible choices they may have. For more information, please visit www.valuepenguin.com , like our Facebook page, or follow us on Twitter @ValuePenguin.

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SOURCE ValuePenguin.com