Have you ever wondered how some of your friend’s travel to exotic places seemingly for free? They brag about how they use their points to book airline trips, hotel stays and resort stays. Some might call it a game, but it turns out that just about everyone can save a great deal of money and travel for free with the right set of travel reward cards.
The first step is figure out what kind of traveler you are. For example, if airline travel is your thing, you may want to focus on collecting points that can be used to book flights. Then there are the hotel loyalty cards that collect points based on every stay at the partner hotel you are aligned with. You can also use this same credit card to collect points towards hotel stays. There are several credit cards that collect points which can be used on either hotels or flights, while at the same time collecting points on the hotel loyalty member card. Double dipping!
Once you have decided, pick several cards that will meet your goals from a travel reward perspective and apply for these cards. You may want to close any other credit card accounts that you have to help manage your credit score. Always pay the balance on your credit card statement by the due date to maintain your credit rating and to avoid placing your account in jeopardy from a points collection and use perspective.
If you have a particular trip that you would like to take, focus on collecting points on the credit card that will deliver the type of trip you’re aiming for. For example, if you are planning a trip that involves flying on a particular airline and staying at a specific hotel, focus on using the travel reward cards that will get you their the quickest.
One final point, some travel reward cards charge an annual fee. These still may be worthwhile if you can use some of the benefits they deliver to save you money, i.e. travel insurance, free nights at a hotel etc.
