Some consider this the currency of the caveman, and it's true that fewer establishments accept traveler's checks these days, and it can be difficult to exchange them in certain places. Nevertheless, they're a cheap and secure way to carry extra money, particularly on trips to urban areas. Both Citibank (under the Visa brand) and American Express issue traveler's checks in the United States, but Amex is better known and more widely accepted; you can also avoid hefty surcharges by cashing Amex checks at Amex offices. Whatever you do, keep track of all the serial numbers in case the checks are lost or stolen.
Traveler's checks can be difficult to exchange in Mexico and are therefore not recommended.