Research tells us that vacations are essential for unwinding and de-stressing from the grind of daily life. It also suggests that those who vacation regularly come back to work invigorated, with more creativity and new ideas. Without a doubt, taking a vacation is a good idea, and cruises provide a fantastic value for your vacation dollar.
That being said, as with any vacation, a cruise is still a major purchase, and smart consumers give careful thought to how they plan to pay for it. The best option is to simply to pay cash up front, and not worry about financing your vacation plans.
Realistically, however, that’s not an option for the majority of consumers. Most of us will have to borrow money to vacation. That’s nothing new: the average consumer carries a debt in some fashion, and it generally comes with additional finance charges.
There is, however, a way to borrow money without accruing finance charges: No fee, No Interest credit cards. They’re offered from a variety of sources, and allow you to borrow money for a specified amount of time, without paying interest. If you pay off the money borrowed within the agreed-upon payment window, you won’t pay any interest charges at all.
Bear in mind, however, that if the debt is not paid off in time, you may be responsible for interest charges that cover the entire borrowing period. So as with any debt, you must be very responsible about your repayment schedule.
Want to learn more? Here’s a specific example of how the process works. The Citi Bank Simplicity card has no late fees, no penalty fees, and no annual fee–and charges you no interest on your balance for 18 months! This allows you to pay for your cruise a little bit at a time without any extra costs. In essence, the bank is letting you use their money for free for that 18 month period.
CitiBank is but one option: click here to see a variety of No Interest Credit Card offers.
If you decide to finance your cruise vacation this way, be sure to read the credit card terms and conditions very carefully, and make sure you understand your obligation. Then enjoy your vacation- interest free!