Imagine lounging on a beach in Hawaii, exploring the vibrant streets of New York City, or strolling through the romantic lanes of Europe, all without breaking the bank. Sounds too good to be true, right? Well, it’s not! We’ll walk you through the ins and outs of credit card points, minimum spending requirements, and other travel hacks that can turn your dream vacation into a reality.
Credit Card Points and Welcome Offers
When you sign up for a credit card, you often receive a bonus or welcome offer. For example, you might earn 50,000 points after spending $3,000 in 3 months. These points can be worth at least $500 towards travel, sometimes even up to $1,000 or more! The key is to use your credit card for everyday expenses and meet the minimum spending requirement. Once you’ve earned the points, you can redeem them for flights and hotel stays, allowing you to travel for free or nearly free.
Planning your credit card applications around big purchases can also help you meet the spending requirement. Whether you’re buying new furniture, undergoing a medical procedure, or doing some Christmas shopping, these are all great opportunities to earn more points.
Choosing the Right Cards for Your Travel Goals
If you have a specific destination in mind, it’s a good idea to choose cards that will help you achieve your travel goals. For instance, you might want to get cards that earn points for a particular hotel brand or airline. If you don’t have a specific destination in mind, focus on cards that earn flexible points, like the Chase Sapphire Preferred.
Keep an eye out for increased welcome offers on airline and hotel cards. These limited-time offers can help you earn more points and plan your vacation around those specific points. Make sure to subscribe to our emails and follow us on social media so you don’t miss out on these opportunities!
Maximizing Your Points
One strategy to maximize your points is to sign up for one card after another. This approach can help you rack up a significant amount of points in a short period of time. However, keep in mind that you’ll need to pay annual fees for these cards. It’s important to weigh the benefits of the cards against the annual fees to ensure you’re getting the best value.
Remember, you need to keep the card for the entire first year. If you cancel your card before it has been 12 months, the credit card company can take away your points.
Planning Your Free Vacation
The number of cards you’ll need to plan your nearly free vacation depends on various factors. For example, you could plan a trip for 2 to Hawaii using 3-4 cards, a trip to NYC for one card, and a roundtrip flight to Europe with one card. It might take around 6-9 months to save up enough points for a trip, depending on your spending habits.
You can also refer your spouse or partner to the same card to earn a referral bonus. This way, you can earn more points and get closer to your dream vacation.
Understanding the Chase 5/24 Rule
The Chase 5/24 rule states that if you have opened 5 or more new credit cards in the past 24 months, from any bank, you will not be approved for a new credit card from Chase. This is important because Chase issues many of the best travel reward credit cards available. Therefore, we recommend starting with Chase cards.
Most business cards don’t count towards your 5/24 count. However, if you are over 5/24, you won’t be approved for Chase business cards.
Managing Your Credit Responsibly
It’s crucial to manage your credit responsibly. Only get into this hobby if you can pay off your card in full each month. If you’re paying interest, you’re not really getting a free vacation, but getting into debt instead. Aim to have a credit score of 700+.
Keeping track of your credit cards and points can be easy with the right tools. The Travel Freely app, for example, can help you manage your cards, keep track of your Chase 5/24 status, annual fees, bonus deadlines, and more.
Escape the Ordinary
Earning and using credit card points and miles can seem overwhelming at first, but with the right knowledge and tools, it can be a rewarding hobby. Our goal is to simplify points and miles travel so you can enjoy nearly free vacations without spending countless hours learning the ropes. So why wait? Start your journey to free travel today!
