If you’re just getting started in points and miles, also known as award travel,  make sure to check out the The Basics of Points & Miles blog post.  In addition, check out what I call The Three Pillars of Award Travel to build a sustainable card strategy for years to come.

Frequently Asked Questions

 

“What about my credit score?”

This is a commonly asked question, and rightfully so!  If you have financial discipline, and are in the habit of paying all your bills on time – you’re already on the right track.  Award travel will actually help and increase your credit score over time!  Yes, your credit will take a small dip every time you open a new account.  This is due to what is known as a “hard inquiry,” and also the average age of accounts decreasing.  It will quickly rebound due to your overall credit utilization decreasing.  Here’s a great article on what factors make up your credit score.

“Do I need to spend more to earn points?”

No, again a common misconception.  You’re spending what you would already spend on regular, monthly expenses: gas, groceries, dining, streaming services, etc.  For example, the signup bonus on the Chase Sapphire Preferred® Card is generally 60k points after meeting a minimum spend of $4k in 3 months.  So if you just signed up for this card, you would use it for all your normal expenses until you meet the minimum spend, atleast.  Of course, you can continue to use the card afterwards too.  (But point being, make sure to meet the minimum spend!)  You’re earning points from purchases you already make, and have to make, to live each and every day.

“Do you pay interest?”

Nope, not at all!  That defeats the purpose.  We’re not trying to live a life we can’t afford.  Rather, we are trying to work smart.  First rule of points & miles: pay all bills on time, no exceptions.  If you aren’t there yet, don’t get into points and miles just yet.  You won’t be “saving” on travel then.  Financial discipline can pay off big in the form of travel rewards.

“What about those annual fees?”

When you get a new credit card, the annual fees are always worth it for the first year.  You’ll get a big signup bonus.  The best travel credit cards have perks and benefits that outweigh the fees.

Let’s look at the Capital One Venture X Rewards Credit Card.  This is the only premium credit card my husband and I each hold.  It comes with a $395 annual fee.  But it also comes with benefits such as:

• Annual $300 travel credit (needs to be used in the Capital One Travel portal)
• 10K anniversary miles
• $120 Global Entry (which includes TSA PreCheck) credit
• Access to 3 different lounge programs (Capital One, Plaza Premium, & Priority Pass)

These benefits are worth more than $395, even if you only travel a couple times a year!  If you find yourself not traveling as much, and/or not making use of perks on credit cards – and this goes for any card – you can always call in to the bank, and downgrade your card to a no-fee card option.  *This is also known as a product change, and should only be done after holding a card for atleast 1 year.*

“How do you keep track of all those credit cards and fees?”

Ahh, great question!  I use the TravelFreely app.  It’s FREE, and keeps track of all credit cards in your household without needing to input any sensitive information.  It reminds you of all annual fee and minimum fee deadlines, so you don’t need to try to remember dates!

What about authorized users?

Almost all cards will allow you to add a number of authorized users to your credit card.  But it is better for that individual, or multiple, to get their own card(s).  Why?  Because he/she will get their own bonus points from the signup bonus which is, simply put, more points for travel together!  If you add an authorized user to your credit card, this won’t be possible.  And doing so, adds to your 5/24 status.

You can of course add young adults and teens as authorized users to your card as feasible for you.  But as their credit slowly builds up, and they are eligible to get their own cards – it’s better for them to not miss out on that signup bonus, and apply on their own.

*Never add authorized users during the application process.  There are some cards that can offer you additional points/miles if you do so at a later time – and you can consider if that is worth it for you.*

What is two-player mode?

If you have a spouse, partner or loved one, you can refer each other to cards and earn referral points.  By doing so, you earn more points to travel together!

Let’s say you sign up for the Chase Sapphire Preferred® Credit Card.  You’ll earn atleast 60k points after meeting the minimum spend of $4k in the first 3 months.  You then can refer your spouse, earning 10k referral points.  Your spouse signs up for the card, earning 60k points.  That’s a minimum of 130k points total, if not more – don’t forget points you earn from using the card (outside of the signup bonus offer).

*There’s currently an offer on this card for 100k points!  This elevated offer is ENDING SOON!*

Don’t forget to share your referral link with family and friends.  I’m sure they’ll want to earn points so they can travel better like you!

How often do I need to sign up for credit cards?

This is up to you, and your comfort level.  As a family of 5, I need a lot more points than someone traveling solo or a couple.  I also need 2 hotel rooms everywhere I go.  My strategy will look different compared to someone else’s, and we are always in a points-earning mode!  (It takes a lot of points for us to go well, anywhere!)

You can also earn points/miles from:

• Shopping portals
• Dining programs
• Merchant offers
• Referral bonuses
• Bank bonuses
• Opening checking accounts

But it’s no secret that the fastest way to earn points and miles is by signing up for a new card to earn that signup bonus.  This is where organization and strategy come into play.

Am I eligible for business cards?

You may be, and not even know it!  You don’t need a big side hustle or business to be eligible.  If you are involved in a networking marketing business, nannying, have a side hustle such as babysitting or selling on FB marketplace, for example – you can apply for a business credit card.  They often have higher signup, and referral bonuses!  Check out this post on what counts as a business – you may be surprised!  If you are eligible and aren’t applying, you’re leaving a lot of points on the table.

 

Please open card links in a new browser window when applying.  Apply as a guest, and don’t log in. 

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