Play the Travel Rewards Game and Win |
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by: Janna Weiss
Credit card rewards come in all shapes and sizes. For the frequent traveler, reward cards can be an amazing value – if you use them right. Have you ever wondered how to maximize your credit card rewards? If so, read on to learn how to get the most value out of your travel rewards.
In the past, airline reward cards were a very big deal. Many card holders argue that their value has declined, but frequent fliers will still do well to take advantage of these rewards. But card holders need to be smart about what they choose to spend their reward points on. Free airline tickets always sound nice, but you might actually make your points go farther by purchasing a coach ticket and using your credit card rewards to upgrade to business class.
You’ve probably heard the old adage about the hazards of putting all your eggs in one basket. With reward cards, the opposite is true. Don’t dilute your credit card rewards by spreading out your spending over several cards. Instead, focus on the reward cards that give you the most travel perks. Use them to pay recurring bills and everyday expenses. Just be sure to pay off your balance in full each month, or you’ll decrease the value of your earned rewards by paying hefty interest fees!
To get the most value out of your travel reward cards, sign up for every major airline’s frequent flier program. Sign-up is free, and you’ll be privy to alerts that only members receive. Also, look for partnerships between hotels, car rental agencies, stores, and airlines. These official partnerships will maximize the value of your travel reward points.
One of the biggest threats to your points is apathy. If you let the points expire, you won’t be able to use them. Always read the fine print in your credit card agreement regarding the expiration of rewards. Also, some reward cards allow you to combine your points with those of another account holder. The time frame for this varies; some point consolidations have a relatively small window of opportunity, so make sure you know the rules. If you get close to your goal, buy the remainder of the points you need at a web site like Points.com. You can also donate or trade your rewards there.
Airline travel rewards might have decreased in value, but with a few clever strategies, you can still play the travel reward game – and win!
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