Need a break, don't have the cash - Would you put $3k on credit card for vacation?

[Anonymous]

I'll break with the crowd, OP.

Yes, I would. I have done this before. Sometimes, you do not have the cash on hand to buy the tickets when you need them. If you have a plan to pay them off over a relatively short period of time, and you are truly at the end of your rope, go for it.

[Anonymous]

Anonymous wrote:I'll break with the crowd, OP.

Yes, I would. I have done this before. Sometimes, you do not have the cash on hand to buy the tickets when you need them. If you have a plan to pay them off over a relatively short period of time, and you are truly at the end of your rope, go for it.

Okay, and I have to, but in this case, her friend suggested aiming to pay it off by year end, so you're talking eight months here. OP hasn't clarified if that's what she would do, but that's a long time to be paying interest on a cc. Unless she can somehow transfer the balance to a no-interest cc?

[Anonymous]

No. I would only charge something I couldn't pay off that month if it were an emergency.

[Anonymous]

I sometimes get a new credit card because of the bonus offers. Often I get $800 in travel out of it. I never carry a balance on the card, though. If you have enough self control, you could gain some travel funds that way. Look on the Points Guy website for offers.

[Anonymous]

Anonymous wrote:The title says it all. I am frazzled and need/want a nice vacation. I have money in the bank, but it's earmarked for other purposes (ie house repairs, summer camp, etc). So I don't want to dip into those savings to pay for the vacay. Sooooo, a friend mentioned just putting it on a credit card, and aim to pay it off by year-end. She said that's what she does.

I am very averse to debt, and don't ever carry a credit card balance. I use a card for everyday purchases but pay it off every week. I've got a mortgage, student loan, and a car loan, and I am trying to pay these debts off as quickly as feasibly possible. So I feel kind of guilty even thinking about taking a decent vacation while still paying off these debts. BUT I really want to go on one, I need it.

Wwyd? I considered a cheaper vacation, but that's what I've been doing, and quite frankly that gets old. It costs $$$ to see the places I want to go, and I'd like to move beyond just checking out local US spots (even though they are super duper affordable).

-Do any of you put vacay on the credit card, and pay it off later?
-How much?
-How long does it take you to pay it off?
-Do you ever feel bad about this debt hanging over you?

What qualifies as a nice vacation? Can you get it for less than $3k? How many people would travel? Would it be just you?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'll break with the crowd, OP.

Yes, I would. I have done this before. Sometimes, you do not have the cash on hand to buy the tickets when you need them. If you have a plan to pay them off over a relatively short period of time, and you are truly at the end of your rope, go for it.

Okay, and I have to, but in this case, her friend suggested aiming to pay it off by year end, so you're talking eight months here. OP hasn't clarified if that's what she would do, but that's a long time to be paying interest on a cc. Unless she can somehow transfer the balance to a no-interest cc?

I think it kind of depends on what's going on with the OP. If she is so frazzled that she needs a break now, from a mental health perspective, it might be worth it to her to pay interest for a bit in order to get the respite she needs now. Is it a super smart financial decision? Probably not. But if that's not the most important consideration, it's not like she's doomed forever if she carries a balance for a couple months.

I do think there are cheaper vacations than $3k that she could take, pretty easily.

[Anonymous]

Can you open new card with 0% for 12 months? That's the only way I'd consider putting a vacation on a credit card.

[Anonymous]

$1K yes. $3K nope.

[Anonymous]

Why does it have to be a $3000 vacation? You can have a nice "break" for far less than that.

[Anonymous]

I'm the OP, thank you for the very honest feedback. I really needed to hear it.

Honestly, my thoughts are the same as you guys, but I guess my desire to get away for a break is getting the best of me, wearing me down.

I did consider doing something small this year, and saving up for a very nice trip next year. Problem is, I always say that, then use all the money I save up for something else. For instance, last year I saved up $$$, then used it to buy a house in a better school district for my child. So I saved up again for this year, then had unexpected house expenses (higher taxes, roof rats, trees cut down due to storms).

So I feel there will always be something. But I don't want to keep putting off travel, because you just never know what may happen in life. Death, illness, cancer, disability.

*sigh* First world problems...

[Anonymous]

I get that it gets old and tiring to constantly be paying debt, and you need a treat. However, I'd look for ways to avoid 3K on a credit card!

first, if you think you can pay it off in a year, why not save for 6 months, then pay off the remainder in the next 6 months? Or save for a year for a dream vacation? Put the money in a separate pot, keep paying on other debts, and then take the vacation when you've earned it.

The bottom line is you already have a debt burden. I think the debt burden you will feel when you come back and additional 3K in debt will wipe out the positive feelings from vacation.

If you're paying more than the minimums on your current debt, you could also cut back a little to create a separate vacation pot, too, for a few months and that could help you save faster.

[Anonymous]

Bad idea. The $3,000 will turn into $5,000 before you know it.
Travel is a priority for me, so I have a completely separate account where I save money for it, part of my paycheck is a straight deposit to that account. A vacation is more relaxing when you don't have to worry about how you will pay for it and how long it will take you to pay. Start saving now, then enjoy the vacation. Go off season if you can.

[Anonymous]

Anonymous wrote:$1K yes. $3K nope.

Exactly

[Anonymous]

Anonymous wrote:The title says it all. I am frazzled and need/want a nice vacation. I have money in the bank, but it's earmarked for other purposes (ie house repairs, summer camp, etc). So I don't want to dip into those savings to pay for the vacay. Sooooo, a friend mentioned just putting it on a credit card, and aim to pay it off by year-end. She said that's what she does.

I am very averse to debt, and don't ever carry a credit card balance. I use a card for everyday purchases but pay it off every week. I've got a mortgage, student loan, and a car loan, and I am trying to pay these debts off as quickly as feasibly possible. So I feel kind of guilty even thinking about taking a decent vacation while still paying off these debts. BUT I really want to go on one, I need it.

Wwyd? I considered a cheaper vacation, but that's what I've been doing, and quite frankly that gets old. It costs $$$ to see the places I want to go, and I'd like to move beyond just checking out local US spots (even though they are super duper affordable).

-Do any of you put vacay on the credit card, and pay it off later?
-How much?
-How long does it take you to pay it off?
-Do you ever feel bad about this debt hanging over you?

This question should be on the money finace thread....don't put 3k on a credit card if you can't afford the trip straight up. Consider a stacation if you just need the time off. Visit local things you can drive to or go to a spa in the neighborhood.

[Anonymous]

How old is your child? Where are you proposing to go? What is your HHI? I might do it depending on how old my child was and if it was going to be a memorable vacation you and your child will remember.