Summary: I’ll be the first to admit it: reading about credit cards isn’t the most exciting way to spend an afternoon. But, learning how to leverage credit card rewards is one of the best and fastest ways to earn flights, accommodation, and other perks. The first step is to apply for new credit cards that offer travel points as incentives to new customers. Be strategic about it and choose cards that can help you achieve a specific travel goal. For example, if you’re low on Visa points, then you should research the bonuses on Visa reward cards. If I want to visit Paris, I’ll apply for a Delta Airlines because they have a partnership wth Air France and I can use the reward points to book a trip to France. In the past few months, I’ve applied for American Airlines AAdvantage card and received 50,000 air miles. That was enough to book a trip to Peru and climb Machu Picchu. I’ve also signed up for Hilton Airlines HHonors, and Marriott Hotels Rewards credit card and received 80,000 points. I can use them to stay between three to five nights at one of their hotels, depending on the city and country I’m visiting. These simple actions earned me 130,000 points that I can use to travel for free. Choose Credit Cards Carefully You can’t just apply for a new credit card, use the points, cancel it, and apply again. Most companies will require you to wait around 24 months before you can benefit from their sign-up reward again. That’s why you need to be careful about the credit cards you choose and ensure that the sign-up bonus allows you to get one step closer to one of your travel goals. I usually don’t sign up for more than three new credit cards every year. With this strategy, I can meet any minimum spending limit (I’ll talk about it in a second,) and avoid any potential issues that might occur. Issuers are less likely to approve you if they notice that you’ve applied for multiple credit cards lately. Chase, for example, won’t allow you to apply for a new credit card if you’ve opened more than five bank cards in the past 24 months. Be Smart with Spending In the movie “Up in the Air,” Ryan Bingham (played by George Clooney,) is obsessed with reaching the ten million frequent flyer miles. Rayan pays close attention to what he buys and how he pays for it so that he never misses the chance to earn points. You should do the same. If a credit card gets you two, three, or five points per dollar spent, then it would be silly not to take advantage of it as much as possible. For example, American Express EveryDay Preferred gets you three points per dollar spent on groceries. Or, American Express Premier Reward Gold earns you three miles per dollar spent on flights. So, next time when you shop, whether it’s for airline tickets, hotel rooms or just grocery, pick the card that earns you the most points. After all, why would waste time to collect one point at a time when you can score three at once? Website: ianbalina.com Instagram: www.instagram.com/diaryofamademan/ Twitter: twitter.com/diaryofamademan Snapchat: www.snapchat.com/add/diaryofamademan Facebook: www.facebook.com/diaryofamademan/
