Is it a bad idea to put holiday on the credit card?

[noseykaren]

Desperate for some kind of break not bothered where we go whether it's abroad or a caravan holiday over here.

We've still not paid of last years holiday abroad, we didn't plan to go anywhere as we've just brought a house and all the money is saved for moving and decorating.

OH reluctant to use the credit card again, is it a bad idea?

If you haven’t paid off last years then it seems risky. I use a credit card for big purchases and I wouldn’t be against using it for a holiday but I’d plan to carefully do it was paid off within 6 months or similar

Bad idea, it is completely inessential and you haven’t paid off old debts. Keep the credit on the credit card for any emergencies with the house. Pay off last years holiday and don’t go into Christmas with huge debts.

Thanks I think I will just have to suck it up 🥴

I knew we wasn't going on holiday this year but now that it's come to it I'm struggling.

How sure are you and your partner of your future incomes if the world economy keeps diving? I'd take that into account as well.

You haven't paid off last years yet. Give it a miss this year and book one next year. It's obviously playing on your mind a little bit hence your post on MN. Allocate a little pot of treat money instead and have a few days out that way you won't feel too sorry for yourself.

Very bad idea if you are living beyond your means which, as you haven't last year's off yet, you are.

Yes if you’ve not yet paid off last years.

If you have the money it’s worth putting it in cc as you have a better chance of getting money back if there is a problem though

Yes, very bad idea. You couldn't afford last year's holiday if you've not paid that off yet...

Can you think of a cheaper alternative - visiting friends, doing a house swap with friends who live elsewhere?

Yes it is when you haven't paid off the last holiday, you'll now have two holidays to pay off. What happens next year if you haven't paid of these two holidays, will you add a third? You'll be up to your eyes in debt before you know it.

We always book our holiday with a cc for the extra payment protection then pay it all of in one from our savings account.

We aren't going on holiday either. We are doing home visits to lots of local places. We are lucky that we are in a touristy area so there's plenty to do.

Decided to plough the savings for this year's holiday into a bigger, better one instead.

Could you do that? Pay off the other one. Start saving.

If you are struggling at the thought of missing one year of holiday then I think you need to get to grips a bit. It's a really bad idea. I dont think you should ever put it on a credit card unless you are doing it for protection and have the funds to pay it back immediately. Also you havent paid last one back and want to take on more debt, that is financially irresponsible and how you can easily land up with debt problems.
You have managed to buy a home though so be grateful you could do that.

In your circumstances, I would say it's a very bad idea!!! You already have credit card debt and a new house. You risk getting into a downward spiral of debt.

It totally depends, my credit card has 0% interest, it couldn't be any lower and it would be silly of me to pay off the balance earlier than I need to.

Agreed - tho' that sounds like a very different set of circumstances to the OP's.

OP - do you have any idea how much it's cost you so far to service the debt from last year's holiday? This might help you work it out.

www.moneyadviceservice.org.uk/en/tools/credit-card-calculator

It’s a bad idea for all the aforementioned reasons, but even if you could afford it, travelling abroad for a holiday currently is just too risky.

Generally speaking in the current climate with COVID-19, booking on a credit card would be sensible in case things have to get cancelled, a travel company or airline goes under etc etc., but as you haven’t paid last years off it would not be a good idea.
Go camping! Pay off last year’s big bill, maybe go abroad next year.

I was all prepared to say go for it, but the priority needs to be paying last years off. This is how debts become unmanageable.

Definitely not. The focus needs to be on paying off last years holiday ASAP before you look to do anything else.
It sucks because I think everyone could do with a break right now but honestly I think going into more debt for a holiday which will be widely different from usual and is still potentially very risky is not the wisest choice

It was a good idea for us. Our holiday abroad got cancelled, the holiday company won't refund us but we're claiming the money back from Barclaycard. It gives you more security to pay with a credit card. If you'll have trouble paying it back then you need to think carefully.