Traveling can be a mind expanding, enriching, not to mention just plain fun experience. However, one of the biggest problems people have with traveling is just the sheer expense. But expense doesn't have to be that big of a deal. There are plenty of ways to make a trip work for you and your budget. One of the best ways to save a lot of money on your next trip is to take advantage of frequent frequent flyer miles programs. There are a lot of these programs out there but the first I would like to talk about is the frequent flyer rewards credit cards that are out there. If you do a little homework you can get a lot in return by taking advantage of these credit card programs. There are a plethera of cards out there and almost all of them offer a bonus for getting the card or spending a certain amount within a time frame. This is where yo can really stack up miles quick if you keep these points in mind:
Sign up Bonuses
This is probably the the best way to earn miles fast. Most cards have stipulations for recieving the bonus so make sure you read the fine print. The most common stipulation is to spend a certain amount of money in a certain amount of time. Go for the biggest sign up bonuses first and use that card for all your expenses until the threshold is met. Then depending on how good thier miles to $1 spent is, you can keep using it as you please, or move on to the next big bonus card. most of these bonuses range from 25,000 to 50,000 miles so its well worth the effort. Usually we stick with the cards that have $1000-$3000 spending minimums with thin 3-6 months. There are however other offers that require just one larger purchase to get your bonus so always keep those in mind as well.
As you embark on this free miles journey remember that you can only sign up once for a card so go one at a time so that you can make sure that you can meet the minimum requirements whithin the given timeframe. The key is to only spend what you would normally spend on an everyday basis if you didnt have the card. Its easy to get caught up in the frenzy of earning free miles, but its just as easy to overspend and then all of a sudden those miles arent so free anymore. Play it safe and if you cant afford to pay off the card balance every month then look for a lower threshold. Some of the better cards out there are Citibank AA Advantage, Chase Saphire, American Express premier rewards gold card, and pretty much any of the Airline sponsored cards out there.
Rewards for every dollar spent
Next to signup bonuses, this is the quickest way to build up miles. Check the rate of miles earned per dollar spent and go for the best one. Sometimes cards will also offer a higher percentage on certain types of spending which can also maximize your rewards. Currently, we have two cards, one that is great for spending at restaurants and gass stations and one that is better for everything else. Diversify!
Other Perks
Many of these cards not only get you miles but also have special perks such as discounts on hotels, dining, or parking. Look into them and take advantage of every opportunity. This is probably the only time that I give a company my email for "future promotions" because it really is worth the extra spam. Periodically there will also be special events where you can earn even more miles so always keep an eye on the offers.
If your card is affiliated with a specific airline, dont forget to merge your credit card with the airlines frequent flyer program. All these programs, wether they are for miles, hotel stays, or rental cars tend to connect with each other so if you play your cards right (no pun intended) you can end up earning hotel stays by using the free miles you are spending. Not a bad deal!
Annual Fees
Some cards also require an annual fee to have thier cards, which in the end comes down to personal preference. If you travel alot a fee card may be a great deal, especially considering many of these cards have reduce international transaction fees wich make it work the annual fee. If you dont travel that much then you may want to stick with the no annual fee cards. In the end its up to you to balance the pros and cons of every card.
Credit Score
While it is true that if you sign up for and cancel multiple credit cards this can hurt your credit score, If you again take your time and build up those miles before switching, and keep the balance paid off, you really shouldnt see any changes in the long run.
In the end it is up to you to decide if a travel credit card is for you. Just remember your limitations and make sure you do your homework and you can be traveling the world on the cheap in no time!
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