A recent study found that 23% of rewards credit card holders have not redeemed their rewards in the past year. If you don't want to leave any money on the table, it's important to take advantage of travel rewards credit cards to get the most benefits.
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If you travel often or want to get more out of your travel credit card, we can help you find a way to make it happen. Explore insights to help you efficiently earn and redeem rewards, use Travel Parks, and optimize the management of your card features.
Find the travel rewards credit card that's right for you
All travel rewards credit cards have different perks, so you need to choose the right credit card for your situation. You also need to find a rewards program that you understand, so you understand how point redemption works and what you need to be aware of. It doesn't matter how many rewards you accumulate if you don't know how to maximize your redemption.
For example, if you travel frequently, you might want to find a credit card that gives you points based on your spending on flights and accommodations.
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Earn maximum points on everyday purchases
To get the most out of your points, you need to find a credit card that allows you to easily accumulate points based on your daily spending.
“To maximize your chances of earning travel rewards, in addition to credit card sign-up bonuses, consider how you spend your everyday purchases,” says Daniel Desir Corbett, personal finance expert at The Thought Card. Knowing when to use a credit card is essential.”
Therefore, it makes sense to take the time to check out different credit card offers so you don't miss out on potential points.
“The best way to use a travel credit card is to understand what purchases will earn you the most cash back and reward points,” says Scott Lieberman, founder of Touchdown Money .
Once you determine which card earns you points the fastest, you can start collecting and enjoying travel-related perks.
Find airline-specific credit cards
Philip Parker, founder of Card Payment Options, says, “If you fly regularly, especially if you're going to the same place, you can choose a credit card that's affiliated with a particular airline, and you'll get all of that airline. You will get the best benefits if you can use it on your travels.” . “Not only does this allow you to accumulate travel rewards faster, but these cards also allow you to achieve status faster, which can lead to seat and priority boarding upgrades.”
Finding an airline-specific credit card can help you save money by earning points faster and earning you free flights and other perks. If you're not loyal to a particular airline, try these suggestions instead.
Find flexible options to maximize your rewards
Some travel credit cards have partnerships with other hotel companies and airlines where you can transfer reward points.
“To get the most out of your travel credit card, we always recommend leveraging transferable points,” said Gauri Manglik, CEO and co-founder of Instrumentl. “With the right card, you can earn points that can be transferred to various airline and hotel loyalty programs at a 1:1 ratio. You get incredible redemption value.”
Mr. Manglik shared specific examples of transferring points to get maximum value.
“I recently booked a business class flight to Asia using points transferred from Chase Sapphire Reserve to United MileagePlus. The cash price was over $5,000, but I redeemed only 70,000 points. That's more than 7 cents per point, and with a little research and planning, you can earn great prizes with your transferable points. can do.”
While this is the best way to maximize the redemption value of your points, it's worth pointing out that it often requires extensive research into loyalty programs.
Take advantage of additional travel benefits
Mr. Lieberman emphasized the importance of looking out for additional travel credit benefits to get even more financial benefits. Here are some things to consider:
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priority boarding
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free checked baggage
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Lounge access
Look for travel credit cards with unique perks that fit your lifestyle. If you travel frequently for work, you may want to find a card that provides lounge access so you can work comfortably even if your travel is delayed.
Lieberman added, “For example, when you use your Marriott Bonvoy credit card, you're automatically granted Gold status with Marriott, which means you get complimentary expanded internet, and you save money when you carry your card with you throughout your stay.'' You don't have to pay. It makes a big difference when you use all your rewards.”
Track points using tools
All travel experts agree that tracking points is important. “It's a good idea to create a calendar or set a reminder when your offer is about to expire,” says Lieberman. “This will prevent you from losing your benefits.”
You can track points in Notepad or a spreadsheet, but adding cards to your portfolio can complicate things.
Corbett advised: “We recommend using a travel rewards app like CardPointers because it tracks all your cards, active and expired offers, and bonus categories. Rental cars, airlines, gas stations, office. It shows you the best cards in your wallet for all kinds of purchases, including supplies, restaurants, and more.”
3 additional tips to get the most out of your travel credit card
Here are some additional tips to help you get the most out of your travel credit card.
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You can save even more when you use your rewards travel credit card to book travel accommodations with companies that also offer rewards programs. This way, you can earn points from your credit card and other benefits offered through loyalty programs.
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Look out for special promotions. Travel credit cards tend to offer point and mile promotions based on specific spending.
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Save on major expenses with a new travel credit card. If you have a big expense coming up, like a home renovation or a vacation, you might want to save up for a new credit card to earn bonus points if there's a minimum spending requirement.
lastly
A travel rewards credit card is a useful tool to enhance your travel experience and get more out of your spending. They can also enhance your travel experience by offering perks like lounge access and priority boarding. You can also redeem points to get free flights and accommodations with money you're already spending.
It's important to find the right travel rewards credit card for your specific purpose. Once you get the right credit card or combination of cards, you can use these cards for everyday purchases to earn travel points and optimize your spending.
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This article originally appeared on GOBankingRates.com: 9 Ways to Get the Most Out of Your Travel Credit Card
