Military Finance

Now that you have found travel discounts, don’t charge your vacation to a credit card. You’ll end up paying more in interest than you saved with your discounts. Instead, borrow the money you need and know exactly how much you’ll pay and when you will have it paid back.

Ways to protect your money while on vacation

Don’t travel with cash—While having some cash on hand is handy to pay cab fare or for tips, it’s best to go with travelers checks. Unlike cash, they can be replaced if lost or stolen, making them a great choice even if you’re just going across country. And if you’re travelling outside the U.S., then you don’t have to exchange all your bills and coins to local currency.

Avoid credit cards— They are easy to use, but the interest and fees can wind up costing you a lot more than you had planned. Instead, set a budget for your trip and get travelers checks for that amount. This keeps your travel budget from being ruined and can save you thousands of dollars in interest charges. If you just don’t have the money, consider an installment loan for travel as an alternative to credit cards.

Look for all-inclusive trips—The advantage to going to an all-inclusive resort or on an all-inclusive cruise is that you don’t need money to pay for meals, drinks, and perhaps even some attractions. Just make sure to see what is not included (i.e. some don’t include alcoholic beverages) so you’re not caught by surprise.

Watch your wallet—Tourist hotbeds not only attract sight seers, they also attract thieves ready to prey on those unfamiliar with their surroundings. Keep your wallet or money clip in your front pocket so it’s more difficult for someone pick your pocket. If female, leave the purse behind and only carry what you need. Money belts can also be an effective way to keep your money safe.

Military Travel Loans

Need help in getting home from deployment? Going to see family and friends? Taking the family on a vacation? Pioneer Military Lending can help with a number of specialty loan products designed just for military travel. They also have military loans from $500 to $10,000 for all ranks and branches. Get a military loan from the best resource we have found, PioneerMilitaryLending.com.

The Home Leave Assistance Loan
• Get up to $1,000 at a special low interest rate and APR
• Available for active-duty military members of all ranks who participate in the current R&R program from Iraq and Afghanistan
• Easy monthly payments
• Your loan application will be priority processed for quick response
• Spouses with a General Power of Attorney can apply

Apply for Home Leave Assistance Loan

Find more specialty travel loans from a company that understands your unique financial situation at PioneerMilitaryLending.com.

What to look for in a finance company

Full disclosure—

A quality lender will tell you up-front about the interest rate and Annual Percentage Rate (APR), as well as any fees associated with your travel loan. A predatory lender most often will not.

Debt ratio—

Any company you get a travel loan from should make sure you can pay the loan back, since if you can’t it can cost them money and, more importantly, ruin your credit score. If they do not calculate your debt ratio, then they are more interested in getting the fees than improving your financial situation.

The military lifestyle—

Service members often have artificially low credit scores due to frequent moves and lower-than-average pay. Any company you get a travel loan from should take your military status into consideration when deciding to lend you money.

Credit reporting—

Your best chance to improve your credit score is to prove you can pay your loan on time and in full. If the company doesn’t report positive payment information to a credit bureau, then it’s not helping you.

Financial education—

Make sure the lender you are working with has a goal of having better-educated, long-term customers who can successfully manage their finances. Knowledge is the best way to ensure you are getting the best deal possible.

Guarantee or return policy—

You may get a travel loan, only to discover you didn’t really need one after all, or that you could have received a better deal somewhere else. Check and see if the company has any type of guarantee or return policy that allows you to return your travel loan if, you don’t need it or find a better deal.