Credit Cards: Your Portal to All the Ends of the Earth

Close your eyes and imagine your ideal vacation. Is it a backpacking tour through Europe...a 14-day cruise through the Caribbean or the South Pacific...an all-American cross country road trip? No one can blame you for dreaming big. You just need your motivation and financial prowess to carry you toward your goals!

In order to make your dream vacation a reality, you will have to assess a few key aspects of the trip. When do you plan to travel - peak season or off peak? Where exactly are you going and how are you getting there? How do you intend to pay for everything... paper or plastic? If plastic, how soon will you be able to afford to pay back your borrowed funding?

Trips to other continents may involve the transportation cost of airfare alone, but remember you may have to front money for ground travel in taxicabs, busses, trains and trams, subways or otherwise. If you are traveling to a relatively accessible destination not all that far from home, you'll be able to escape the airfare, but the ever-rising cost of gasoline will drain your poor piggy bank dry. Considering a cruise? One if by land, two if by sea, add in the airfare and kiss your savings goodbye. Prepare to foot the bill for gas costs, airline tickets and the actual cost of the cruise itself, usually requiring at least $1,000. Transportation costs can become burdensome, but remember, there are things you can do to lessen the financial blow.

TIP 1: Open up an account with a credit card that gives you a gasoline rebate every time you fill up at the pump. Even if you are only saving five cents on every dollar spent at the pump, those pennies do add up!

TIP 2: Apply for a Frequent Flyer program and rack in free airline miles to use on future vacations. Wouldn't it be nice to travel for free and only worry about lodging, meals and souvenirs?

TIP 3: Plan a spontaneous, short notice cruise or vacation and cash in on last minute deals. Companies would usually rather fill all the seats or rooms at a discount than miss out on business altogether.

Paving your way by plastic may seem like the most convenient way to finance your trip, but you'll have to practice responsible habits when it comes to paying back your balance. Racking up an extensive credit card balance may negatively impact your credit score if you are unable to pay it back in a reasonable fashion. At the very least, you should always pay each month's minimum balance on time. By missing payments or sending them in late, interest rates shoot sky high, leaving you forever chasing your tail in vain attempts to pay back your balance.

A colleague of mine spent a semester in Australia, basically living off of her credit card while she was away. She still has about $2,000 to pay back on her credit card account, but carries no regrets.

"The only regret that I have is that I didn't go to New Zealand and put more on there," my friend said.

She recently transferred her credit card balance to a new account, thus securing zero percent interest for an introductory period. She hopes to whittle down her remaining balance to an insignificant amount during the period while no interest is charged.

With some responsible planning and solid resources you should have no trouble in repaying the amount you borrowed on your trip. Neglecting to take the vacation of a lifetime simply because you cannot afford to front cash for the entire trip is no reason to give up on your dream getaway. To make your ultimate vacation a reality, dream big - save as much money as you possibly can and do research to find a credit card with low interest rates. Prior to your departure, make a commitment to adhere yourself to a responsible payment plan so you can wade your way through the debt you accumulate; take advantage of the power of plastic. After all, there's no time like the present!