One of the reasons that many people sign up for rewards credit cards is the opportunity to earn travel rewards that can be used to save money on airfare, hotel rooms, and other travel costs. When used smart, travel rewards credit cards can really help you save money with free stuff.
However, you do have to be careful. Here are two strategies for earning travel rewards faster:
Choose One Travel Rewards Program and Get a Card to Go With It
Do your research and choose one rewards program that works best for you. Most of the airlines offer some sort of travel rewards program. Once you have an idea of what travel rewards program offers you good flexibility in reward points redemption, and is connected with a variety of partners, sign up for a credit card with the appropriate branding.
There are many credit cards that are connected to airline rewards programs, from credit cards branded AAdvantage, to those connected to Delta SkyMiles, to Rapid Reward branded Southwest credit cards, and others, it’s possible to boost the miles you earn, since you will receive miles from spending, as well as from flights that you take. Figure out what will benefit you the most, and then sign up for the travel reward program and the credit card that best fits your lifestyle.
It really is important to focus on one program. Otherwise, you could spread out your rewards points and not get the best bang for your buck. Choose a program you like, and stick with it, flying on that airline, and making it a point to stay in hotels that are considered partners. That way, you will concentrate your points-earning power and earn substantial rewards faster.
Spend as Much as You Can on the Card – And Pay it Off Each Month
Now that you have a branded rewards credit card that helps you earn travel rewards faster, it’s time to spend, spend, spend. This doesn’t mean that you spend irresponsibly, racking up unnecessary debt for unplanned purchases.
Instead, spend within your personal budget. Use your travel loyalty program credit card to buy groceries, purchase gas, and pay bills. You’ll rack up the points faster the more you spend.
You do have to be careful, though. If you pay interest, you could wind up paying enough in fees that you offset the value of your rewards. In order to efficiently earn maximum travel rewards, you need to pay off your credit card balance each month. Your best option is to make sure that you only spend what you would normally.
Once you have a plan worked out, you can maximize your points. Soon, you’ll be earning free vacations and other perks faster than you thought possible.