If you want to travel without spending any money, credit cards can be an incredible resource if used wisely. Just be careful how and when you use them!
Understanding how the system works is essential to making the most of it. Here are a few points you should keep in mind when starting a betting account: 1. Sign-up bonuses
Sign-up bonuses
Credit card issuers provide sign-up bonuses as a enticement for potential customers to open new accounts with them, offering rewards points, cash back or airline miles as incentives. Although these credit card offers can help you earn free travel opportunities, be mindful of any conditions attached.
Spending a certain amount within a certain timeframe (this could range from several months up to a year of credit card ownership) in order to receive your bonus may require spending minimum amounts within that time period, with fees and costs not counting toward it.
Avoid incurring extra charges such as balance transfers or cash advances that incur fees without providing rewards in return. Furthermore, avoid incurring high-interest debt just so you can earn travel rewards; doing so could cost hundreds or even thousands in interest charges and diminish their value significantly.
Ongoing rewards
Credit card rewards programs offer many perks that can help make travel for free possible, including taking advantage of airline signup bonuses and using points and miles as an alternative form of airfare payment. To truly capitalize on these opportunities, however, it’s crucial that you understand all of their rules and use your card with care.
When selecting a credit card program, select one which provides maximum value to fit your spending habits and budget. When possible, look for cards offering bonus points in categories you spend the most money in as well as no annual fees.
Payment and interest charges should also be minimized every month to maximize rewards you’ve earned and minimize interest charges, otherwise this could cancel out any gains from earning them. When redeeming rewards for statement credits, be sure to book travel at low season in order to maximize value and compare award fares and hotel costs for best prices before redeeming awards for statement credit redemptions.
Booking travel through the card issuer
Credit card companies encourage their cardholders to use them for travel purposes, so they offer online portals that make booking flights, hotels, rental cars and cruises with cash or points easier than ever before. You may even be able to book activities such as cruises.
Some travel cards provide additional perks when booking through their portal, such as price match guarantees. Chase allows customers to book airfare, hotels and rental cars through its portal and offers up to five times more miles on those bookings!
Booking travel through credit card travel portals isn’t usually recommended; typically you’ll get better redemption value by booking directly with an airline, hotel or travel agency. Furthermore, in case something goes wrong on your trip (like an airline cancels its flight or your hotel loses your reservation), then contact with your credit card company instead of their respective airlines and hotels could be necessary to rectify matters.
Taxes and fees
Credit cards provide many advantages that can make travel less costly, including better fraud protection than cash and the ability to avoid foreign exchange fees. They also often offer better exchange rates than ATMs or currency stands, and some even offer accidental and sickness coverage while traveling overseas.
Some travel credit cards impose minimum spending requirements or annual fees that you should be aware of, so read the card’s terms and conditions carefully to discover any hidden charges that might affect you.
Before applying for a credit card, always take time to consider the value of rewards points and miles. Bankrate’s points and miles valuations page is an invaluable resource that will enable you to understand what your rewards really equate to, helping you plan trips using credit cards without breaking the bank – soon you will become adept at travelling for nearly free! Happy travels!
