You’ve probably been accumulating travel miles on your rewards credit card without giving it much thought. It’s one of those things that’s easy to forget about. However, now that more countries are beginning to open their borders to travelers, now is as good a time as ever to start cashing in those reward points. Here are a few ways you can make the most of those miles.
Read the Fine Print
Most credit cards come with fees, restrictions and perks. It’s important that you familiarize yourself with each of these categories. Knowing this information will help you maximize your rewards. Additionally, avoid signing up for a card that has reward restrictions. You want to make sure you’re using one that will reward you for all your purchases. Most really great travel reward credit cards will have an annual fee. However, when you’re accumulating points and using them to save money on your travel expenses, that fee doesn’t seem like such an inconvenience.
Loyalty Programs
If you’re the type of person who consistently turns down offers to join travel related loyalty programs, you might want to reconsider. Latoya Irby, a writer for thebalance.com states, “Most hotels and airlines have loyalty programs that will also pay rewards for your stays and flights. Signing up for these programs is free and you can boost your rewards when you provide your loyalty rewards number during booking. Stick to the same hotel and airline brands as much as you can. The more you use the same brands, the more points you can earn.” If you find a hotel chain or airline you love, stick with them. It will be easy for you to earn extra rewards with them.
Pay Off Balance
Did you know that if you’re not paying off your balance each month, the finance charges you accrue negatively impact your reward points? It’s incredibly important to only charge what you can afford to pay off completely. This is the only way you can truly use your credit card for ‘free’. You won’t be charged any fees, and you’ll still be able to reap the benefits of extra reward points. If you’re going to have a credit card, this is the best way to go about it.
Welcome Bonus
Many travel reward cards will offer you a sign-up or welcome bonus for opening an account with them. Pick a card that has an easy-to-earn bonus. These special offers are usually substantial and some are even enough for a free flight right from the start. However, this is where it’s important you read the fine print. The last thing you want is to sign up for a card because of the amazing perks and then not be able to earn them.
Travel reward credit cards are an amazing tool to use for discounts when you use them correctly. Make them work for you by being both a responsible credit card user and a savvy consumer.