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Yahoo
13-05-2025
- Business
- Yahoo
A beginner's guide to travel hacking
Travel hacking is the process of maximizing credit card rewards to earn free or discounted flights, hotel stays, upgrades, and other travel expenses. The learning curve for optimizing travel rewards can be steep, especially if you're brand new to the world of points and miles. With this guide, however, you can gain the confidence necessary to get started on your travel hacking journey. Many credit cards offer travel rewards in the form of points or miles. Depending on the card you choose, you may earn a flat rewards rate on every purchase you make, or you may get a tiered rewards structure with bonus points on certain spending categories and a low base rewards rate on everything else. Here are some of the main types of travel rewards. Typically offered by a credit card issuer, a general travel rewards program may allow you to redeem your rewards in a few ways: Book travel through the card issuer's travel portal. Book directly with an eligible travel merchant and request a statement credit. Transfer your points to select airline and hotel loyalty programs. When redeeming rewards with the card issuer, your points or miles typically have a set value, which may vary depending on how you use your rewards. However, if you transfer your points to another program, their value will be based on where you move them. Examples of general travel rewards programs include American Express Membership Rewards, Capital One Miles, Chase Ultimate Rewards, and Citi ThankYou Rewards. Airline rewards are offered through co-branded credit cards with specific airlines, such as American Airlines, Delta Air Lines, or JetBlue Airways. Depending on the airline loyalty program, you may have several options for redeeming your miles. However, the best option is typically booking award flights, which are limited in use. Rewards values can vary based on the rewards program and your flight details. In addition to rewards, many airline credit cards also offer perks when you fly with the co-branded airline, such as free checked baggage, priority boarding, inflight discounts, and more. Similar to airline miles, hotel points generally offer limited flexibility. You'll typically earn points with a specific hotel brand, and while some programs may offer multiple redemption options, your best bet is to use your rewards for free hotel stays. The value of your points will vary depending on the loyalty program you choose and the details of your hotel stay. On top of rewards, many hotel credit cards offer perks like elite status with the co-branded hotel chain and a complimentary one-night stay every year or an annual points bonus, among other benefits. One of the most challenging aspects of travel hacking is ensuring you have the right cards in your wallet. Whether you already have some cards you like or you're looking to start from scratch, here are some factors to consider. Your rewards preferences: Consider whether you'd prefer the flexibility of a general travel rewards card or the added value that an airline or hotel card can provide. For instance, if you're particularly loyal to a specific airline or hotel brand, a co-branded card can make sense over a general travel card. Your spending habits: As you compare credit card options, check the rewards rates and compare them to your typical spending. If your largest expense is groceries or dining, look for travel cards that offer bonus rewards on those categories. However, if you prefer simplicity, consider a flat-rate rewards card. Your budget: Some travel cards offer premium benefits, but you may have to pay a steep annual fee to get them. If you can't afford to pay hundreds of dollars annually, many solid mid-tier travel cards charge annual fees of around $100. It can sometimes make sense to apply for travel credit cards across multiple rewards programs. Diversifying your rewards can give you more flexibility to cover various travel expenses and protect you from potential devaluations with certain loyalty programs. The first step to redeeming rewards for travel is earning them. Here are some potential ways you can make the most of your spending to earn valuable points or miles. Read more: 9 weird ways to use a credit card and max out your rewards Many travel credit cards offer welcome bonuses worth hundreds of dollars on free or discounted travel. As you compare travel cards, check that you can meet the minimum spending requirement with your normal budget and compare the current bonus offer to previous offers to ensure you get the best possible deal. There's no rewards credit card that's best suited for every purchase. While some may offer great rewards rates on travel-specific purchases, others may prioritize everyday spending categories like groceries, gas, restaurants, and streaming services. If you're comfortable managing multiple cards, choose a few that allow you to make the most of your spending in different categories. Take a look at your spending habits to determine where you can use your credit cards, including situations where you might be using another payment method, such as cash or a debit card. Just keep in mind that some merchants may charge a convenience fee if you pay with a credit card. In these cases, the fee is often higher than the rewards rate you'll earn, so it might not be worth it. Travel hacking only works when you spend within your means and pay your bill on time and in full monthly. Carrying a balance from month to month can result in costly interest charges, which may diminish or even neutralize any value you generate from rewards. Once you've earned enough rewards to book a trip, the next step is to make the most of your points and miles. Here are some tips to help you get started: Avoid subpar redemptions: The standard redemption rate is one cent per point or mile if you have a general travel credit card. Anything below that is generally not worth it. Consider transferring points: If your general travel card has transfer partners, you may get more value by transferring your rewards compared to using them with the card issuer's rewards program. Research redemptions: If you have hotel points or airline miles or you're thinking about transferring general travel points, it's crucial to research different redemption options. This may include checking redemption requirements for travel dates and hotel properties or flights. This process can be time-consuming, but it can pay off big time in the long run. Learn from experts: With countless points and miles experts out there, it's easy to find tips and tricks to maximize your redemptions. Some travel rewards websites even collect data to provide average values for different loyalty programs, redemption sweet spots, limited-time offers, and more. As previously mentioned, many travel credit cards offer a variety of perks in addition to their rewards. You may get one or more added benefits depending on which card you pick. Examples include: Complimentary airport lounge access Application fee credit for Global Entry, NEXUS, or TSA PreCheck Annual travel credits Annual points or miles bonuses Trip insurance protections No foreign transaction fees Free checked bags Priority boarding Free hotel stays Complimentary elite status Companion flight passes With the right card, these perks can offer as much value as the rewards program, if not more. In fact, a good way to tell if a card's annual fee is worth it is to compare the value of the perks it offers to the yearly cost of maintaining the card. Travel hacking takes time, strategizing, and careful planning, but the rewards can be well worth the effort. Choosing the right credit cards, maximizing your earning power, and strategically redeeming points can all help you unlock incredible travel experiences at a fraction of the cost. Additionally, some credit card perks can compound your savings or elevate your travel experience, providing even more value. While travel hacking may be daunting, staying informed and connecting with others who enjoy the hobby can help you feel more confident about the process and your experience. Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
Forbes
25-04-2025
- Business
- Forbes
Chase Sapphire Preferred Benefits: A Goldmine Of Travel Perks
Serious about travel? Then you need a card that's just as ambitious as you are. The Chase Sapphire Preferred® Card doesn't cut corners. You'll get generous travel perks, ultra-flexible points and a welcome bonus so big your head will spin. Factor in a wallet-friendly annual fee, and it's no wonder it consistently earns top marks. Let's unlock the treasure trove of travel benefits this card brings to the table. Up to 5x Reward Rate Earn 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on allRead More 100,000 bonus points $95 19.99% - 28.24% Variable Excellent, Good (700 - 749) For a limited time, cardholders can earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening. That's the highest offer we've ever seen on the card and one you won't want to miss. While your bonus (and any other Chase Ultimate Rewards® you earn) can be redeemed as cash back, you'll get even more value by applying them toward travel. Redeem those points for bookings made with Chase Travel℠ and you'll receive $1,250 in value thanks to a 25% bonus—with no complicated redemption strategies, learning curves or blackout dates to worry about. Or transfer your points to partnering airlines and hotels and potentially save even more. In addition to its welcome offer, the Sapphire Preferred earns Ultimate Rewards® on every purchase: Cardholders get an annual boost, too. Each year after your card member anniversary, you'll receive a points bonus worth 10% of your total purchases for the year. That's like finding free money, and it's another easy way to get extra value from your Sapphire Preferred. The card's real magic lies in the redemption options. Points can be redeemed as a statement credit, for trips booked through the Chase Travel website with a 25% bonus or by transferring points to Chase's airline and hotel partners. The flexibility means the card will remain a good fit even as your travel preferences or lifestyle change. Chase Ultimate Rewards Travel Partners For travelers willing to take the extra step, transferring your points to travel partners can lead to exceptional rewards. With 100,000 Ultimate Rewards, you could take any one of these high-value trips for free and still have points left over. Chase hands over a $50 hotel credit each year to cardholders, which is one of the best Sapphire Preferred benefits. To earn your statement credit, you'll simply need to make one or more hotel bookings via Chase Travel and pay with your Sapphire Preferred credit card. There's no minimum purchase requirement and no restrictions on when or where you can use it. Anyone who travels even once per year should be able to make good use of this perk. Compared to other midrange travel rewards cards, the Sapphire Preferred outdoes itself with a selection of essential travel protections. Most trips paid for with your Chase Sapphire Preferred® Card will be automatically covered under several forms of trip insurance: Though this benefit is standard among premium travel rewards cards, it shouldn't be overlooked. There are no foreign transaction fees on the Sapphire Preferred, which can save you serious cash throughout your cardholder relationship. Other cards charge up to 3% on every purchase made in other currencies, but you won't pay an extra dime when paying with the Sapphire Preferred. Find the best travel credit card for your travel needs. The Chase Sapphire Preferred strikes a winning balance between an accessible annual fee and valuable travel benefits that nearly anyone can use. Its flexible rewards, robust trip protections and easy-to-use Chase Travel Hotel Credit make it a popular package for travelers. With the limited-time 100,000-point bonus, it's even more exciting. Cardholders can enjoy an upfront prize while setting themselves up with the ongoing benefits of the Sapphire Preferred.
