Vaccinated Americans can now travel to parts of Europe – what to know and how to pay

Most of Europe will allow vaccinated Americans to travel without restrictions, paving the way for international travel this summer. (iStock)

Fully vaccinated Americans can ditch their masks, and now they have one more thing to celebrate: a lifting of travel restrictions in parts of Europe this summer.

The 27 member states of the European Union, including popular tourist destinations like France, Spain and Italy, will reopen their borders to vaccinated travelers this summer, a EU spokesperson confirmed on Wednesday. The new plan allows vacationers to travel without a mandatory quarantine period, negative COVID-19 test, or other restrictions that have previously made international travel out of reach.

Has your desire to travel been limited by your wallet as well as by the pandemic? Read on for tips on how to pay for a vacation in Europe and visit Credible’s online marketplace to purchase vacation loans, travel credit cards and high yield savings accounts.

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Who can visit the countries of the European Union this summer?

Travelers who have received a full dose of an EU-approved vaccine – including Moderna, Pfizer and Johnson & Johnson – will be allowed entry into certain European countries this summer, provided they have received their final dose in at least 14 days before the trip.

Additionally, vaccinated travelers will no longer need to quarantine or present a negative COVID-19 test upon arrival in an EU country, unless the individual country requires it.

Three in four U.S. adults (75%) have received at least one dose of the vaccine as of May 10, according to Census Bureau data. The vast majority of them have already scheduled their follow-up dose.

Most EU countries will follow these guidelines, with the exception of Ireland. The map below shows a list of EU countries that have agreed to join this plan. Iceland, Liechtenstein, Norway and Switzerland which are not members of the EU will also follow the EU guidelines.

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How to pay for a trip to Europe

The EU may have given the green light for vaccinated travelers to cross the borders of its countries, but the coronavirus pandemic is not the only thing preventing many people from traveling to Europe. International travel can be expensive, especially to popular European tourist destinations.

If you need a vacation but don’t have the cash to pay for transatlantic airline tickets and extended hotel stays, there are several ways you can finance a trip to Europe.

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Travel loans

Travel loans, also known as vacation loans, are simply a type of Personal loan. These loans are disbursed into your bank account in a lump sum and are repaid in fixed monthly installments over a period of months or years. Interest rate vary from around 6% to 36%, depending on your credit score. You should check and monitor your credit score before applying to see if this option is right for you.

Since travel loans do not require collateral, lenders rely on your financial history to determine their eligibility.

If you decide to take out a personal loan to finance your vacation in Europe, it’s important to shop around for the lowest possible interest rate. You can shop at Credible’s online marketplace to compare rates and pre-qualify for a personal loan.

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Credit card rewards

Responsible credit card users with good credit history might consider upgrading to a travel rewards card to earn free or discounted airline tickets, hotel stays, and other travel accommodations. .

Here’s how it works: you open a Travel Rewards credit card, use it to pay for your daily purchases, and pay it back at the end of each month to avoid interest charges. This way you can earn points for your vacation in Europe, while making the purchases you have already planned.

Some cards even offer a signup bonus, which can earn you credit for your trip. Just read the fine print of your card contract, avoiding annual fees if possible. You can compare travel credit cards on Credible.

High yield savings

It’s a good financial rule to avoid get into debt for unnecessary purchases, including travel. But when you’re confined to your four walls for over a year, waiting doesn’t seem like an option.

Fortunately, there is a way to grow your savings even faster: by opening a high yield savings account. These accounts have a higher Annual Percentage Return (APY) than a traditional savings account, allowing you to earn more money on your travel fund.

Credible’s online marketplace allows you to compare high yield savings accounts so that you can get the highest savings rate for your situation.

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Have a financial question, but don’t know who to ask? Email the Credible Money Expert at [email protected] and your question can be answered by Credible in our Money Expert section.

About Wanda Wall

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