For the millions of millennials stuck living with their parents or struggling with finances on their own, credit cards promising thousands of frequent flier miles on sign-up seem wonderful to pay for a getaway. But beware, experts said at the "More for Your Money" panel at the L.A. Times Travel Show on Saturday.
Rosen advised travelers that "the credit card game" is a long-term strategy. "The more attention you pay to building credit, the better deals you will get down the road," Rosen said. "You want to get to the point you can get any card you want."
Travel deals blogger DiScala said that in the short term, young consumers should only spend what they know they can pay off. The interest rates on miles-rewards credit cards are often much higher than on regular or cash-rewards cards.
Rosen also noted that although sign-up bonuses might be lucrative, people shouldn't sign up for a new card every year. Instead, cardholders should contact their existing credit card company to ask for a new deal, such as waiving an impending annual fee.