Some people could find themselves wrangling with summer travel bills well after Labor Day.
To that point, 36% of Americans said they plan to take on debt in order to travel this summer, according to a March survey from Bankrate.
The payment methods for summer travel expenses ranged from personal loans (5%) and buy now, pay later services (8%) to borrowing from family and friends (6%).
Additionally, 26% of summer travelers said they intend to use a credit card and pay over for the vacation over multiple billing cycles.
"The reason that's worrisome is because the average credit card charges more than 20%, which is close to a record high," said Ted Rossman, a senior credit card industry analyst at Bankrate.
Persons:
Ted Rossman, Gen Zs, Sabrina Romanoff
Organizations:
Labor, Finance, Disney