Vacation Loans

Take a break without breaking the bank

Make that trip happen, whether it’s cruises, flying, road trip, all-inclusive resort, or family time at the beach. Vacation loans can have fixed rates, which allows you to determine your repayment terms on your schedule.

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What is a vacation loan?

A vacation loan is simply a personal loan that a borrower uses to cover vacation costs. Whether you’re planning a dream honeymoon, a family getaway, or a once-in-a-lifetime solo trip, a vacation loan offers a lump sum of money upfront that you repay over time in fixed monthly payments.

Since it’s a personal loan, the funds can be used flexibly—for flights, hotels, rental cars, tours, or even travel insurance.

Is a vacation loan right for me?

Vacations should be enjoyable, not financially stressful. The best vacation loans offer lower interest rates than most credit cards, which can make them a more responsible alternative. A vacation loan might be worth considering if:

• You want to lock in travel deals now but pay over time
• You prefer predictable, fixed payments vs. carrying a balance on a high-interest credit card
• You’ve budgeted for the monthly loan payments and want to avoid dipping into savings

Before taking out a vacation loan, it’s a good idea to compare costs, plan your budget, and explore all payment options. However, no debt should be taken on lightly. If you have bad credit, you won’t likely qualify for low rates. In that case, your dream vacation might just have to wait.

Benefits of using a personal loan for vacation travel

When used thoughtfully, a vacation loan can offer peace of mind and financial flexibility:

• Fixed monthly payments: Know exactly what you owe each month—no surprises
• Lower interest rates than many credit cards (if you qualify)
• No collateral required

Compared to other financing options, a personal loan can make it easier to stay in control of your travel budget.

How to get a vacation loan

Follow these steps to take out a vacation loan:

• Check your creditworthiness. Pull your credit report to make sure you meet the eligibility standards. Most lenders require a good credit score, low debt-to-income ratio, and strong credit history.
• Shop loan options. Compare loan rates and loan terms among different lenders, including online lenders and credit unions. Consider annual percentage rate (APR), as well as fees like late fees, origination fees, and prepayment penalties.
• Prequalify. Prequalification lets you see what rates you qualify for without incurring a hard credit check.
• Apply. When you’ve selected a lender, it’s time to start the application process. You’ll need to provide your loan purpose, preferred loan amount, cosigner details (if applicable), and whether you want a variable or fixed rate.
• Accept or reject the loan offer. Read over the loan disclosures. Make sure the repayment terms and monthly payment fit within your budget before you accept.

Tips for financing your next trip

• Set a total trip budget before borrowing
• Consider using the loan only for fixed costs (like flights and hotels)
• Look for deals and travel rewards that help offset costs
• Avoid borrowing more than you can reasonably repay

Responsible borrowing helps you enjoy your trip without lingering stress.

FAQs about vacation loans

Can I use a personal loan for a vacation?

Is a vacation loan better than using a credit card?

How does the personal loan process work?

Have more questions? Visit the Help Center.

Explore Your Options

Planning a vacation? Make it stress-free with a financing option that works for your budget. Earnest personal loans come with no fees required1, flexible terms, and fast funding.

1 You may qualify for a lower interest rate by electing to pay an optional origination fee that is equal to 4% of your total loan amount. The fee is deducted from your loan proceeds at disbursement. This fee is not required and it will not impact your loan approval.

Loan proceeds may not be used for postsecondary educational expenses, including refinancing federal or private student loans.