FMOOD 0199: Should You Keep a Credit Card for Travel Purposes? - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.

Should you keep a credit card for travel purposes? Some folks believe so, and I do agree with some of the valid points offered with doing so. First of all, the fraud protection and ease of disputing a charge is quite easy with a credit card. This is a big deal to me.

 

If you travel often for work and are reimbursed for expenses, using a credit card is an easy way to keep your expenses for work and for your home budget completely separated. Once you have been reimbursed for expenses, you can immediately pay the balance on the card. It will save you from having to enter a lot of otherwise unnecessary line items and details into your monthly budget for work-related expenses, and to me, that makes sense to keep the two completely separated.

 

Many hotels also require a credit card on file, even if you are paying with cash. From their perspective, they don't know who you are or if you are going to trash the room. They want to have recourse to recover charges or other damages, and they likely won't accept checks or even cash without a credit card being on file first.

 

Now, if you're someone who knows already that you won't be responsible with a credit card, you'll want to stay away. You're better off sticking to a debit card so that you're not tempted to overspend. When considering your choices, there is no right or wrong answer; each individual needs to do what's best based on their own perceived credit responsibility level.

 

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