9 WAYS TO GET THE MOST OUT OF YOUR TRAVEL CREDIT CARD

A recent study found that 23% of reward credit cardholders haven’t used their rewards in the past year. If you don’t want to leave money on the table, it’s important that you take advantage of your travel rewards credit card so that you get the maximum benefits from it.

Trending Now: Ramit Sethi: Track These 4 Numbers To Become a Millionaire

Try This: How To Get $340 Per Year in Cash Back on Gas and Other Things You Already Buy

If you travel often or just want to get more out of your travel credit card, we will help you figure out how to make this happen. We will look at insights into earning and redeeming rewards efficiently, navigating travel parks, and managing card features to optimize them.

Sponsored: Owe the IRS $10K or more? Schedule a FREE consultation to see if you qualify for tax relief.

Find a Travel Rewards Credit Card That Works for You

All travel rewards credit cards have different benefits, and you want to ensure that you choose the right one for your situation. You’ll also want to find a reward program that you understand so you know how point redemption works and what to look out for. There’s no point in accumulating rewards if you don’t know how to redeem them for the maximum value. 

For example, if you travel often, you’ll want to find a credit card that offers points based on spending for flights or travel accommodations.

Check Out: 10 Things Frugal People Always Buy at Yard Sales To Save Money

Maximize Your Points With Everyday Spending

On the topic of maximizing your points, you’ll want to find a credit card that will reward you for your daily spending so that you can easily accumulate points. 

“In addition to credit card sign-up bonuses, knowing which credit card to use with everyday purchases is essential to maximizing your travel rewards earning potential,” said Danielle Desir Corbett, personal finance expert at The Thought Card.

This is why it makes sense to take the time to review different credit card offers so you don’t miss out on potential points. 

“The best thing to do with a travel credit card is understand what purchases get you the most cash back or reward points,” shared Scott Lieberman, founder of Touchdown Money. 

When you determine which card will help you earn points the quickest, you can begin collecting and enjoying travel-related perks. 

Find Airline-Specific Credit Cards

“If you fly regularly, especially to the same places, then choosing a credit card that partners with a specific airline can offer the best benefits if you can use that airline for all of your traveling,” said Phillip Parker, founder of Card Payment Options. “Not only does this help you amass travel rewards more quickly but such cards can help you achieve status much faster, which can lead to upgrades for seating as well as priority boarding.”

Finding an airline-specific credit card will help you earn points quicker, which will allow you to earn free flights and other perks that will help you save money. If you aren’t loyal to a specific airline, try our next suggestion instead.

Look for Flexible Options To Maximize Rewards

Some travel credit cards will have partnerships with other hotel and airline companies that let you transfer reward points. 

“When it comes to getting the most out of a travel credit card, I always recommend taking advantage of transferable points,” remarked Gauri Manglik, CEO and co-founder of Instrumentl. “With the right card, you can earn points that transfer to various airline and hotel loyalty programs at a 1:1 ratio. This flexibility provides incredible redemption value if you know where to look.”

Manglik shared a specific example of transferring points for maximum value.

“I recently booked a business-class flight to Asia using points transferred from my Chase Sapphire Reserve to United MileagePlus. The cash price was over $5,000, but I redeemed just 70,000 points. That’s a value of over 7 cents per point, far exceeding the card’s base earn rate. With a bit of research and planning, transferable points can unlock amazing awards.”

It’s worth pointing out that even though this is the best method for obtaining the highest redemption value for points, it often comes with extensive research on loyalty programs. 

Take Advantage of Additional Travel-Related Perks 

Lieberman stressed the importance of looking out for additional perks with your travel credit to obtain further financial advantages. Here are a few to consider:

• Priority boarding
• Free checked bags
• Lounge access

You’ll want to look for travel credit cards with unique perks that make sense for your lifestyle. If you travel often for work, you may want to find a card that offers lounge access so that you can work in comfort when there are travel delays. 

Lieberman added, “For example, the Marriott Bonvoy credit card grants automatic Gold status at Marriott. That means free enhanced internet, so you’ll never have to pay for that when staying and carrying the card. Using all your rewards makes a big difference.”

Use Tools To Track Your Points 

All travel experts agree that tracking your points is essential. “I recommend keeping a calendar or setting reminders for when rewards are about to expire,” noted Lieberman. “This can help prevent you from losing out on any perks.”

While you can track your points on a notepad or a spreadsheet, it can get complicated as you add more cards to your portfolio.

Corbett advised, “I recommend using a travel rewards app like CardPointers because it keeps track of all your cards, active and expiring offers, and bonus categories. It shows you the best cards in your wallet for every type of purchase, whether car rentals, airline, gas stations, office supplies, restaurants, or something else.”

3 Additional Tips for Getting the Most From Your Travel Credit Card

Here are a few additional tips that could help you get the most out of your travel credit card:

• Double dip by using your rewards travel credit card to book your travel accommodations with companies that also have reward programs. This way, you could earn points from your credit card and any other perks provided through a loyalty program. 
• Look out for special promotions. Travel credit cards tend to run promotional offers for points or miles based on specific spending. 
• Save your major expenses for new travel credit cards. If you have significant expenses coming up, like a home renovation or vacation, you’ll want to save them for a new credit card to earn bonus points when there’s a minimum spending requirement. 

Closing Thoughts 

Your travel rewards credit card can be a helpful tool to improve your experience on trips and get more out of your spending. It can also offer perks like lounge access and priority boarding to improve your travel experience. You can also redeem your points to earn free flights and accommodations through the money you would spend already.

It’s crucial that you find the right travel rewards credit card for your specific goals. Once you have the right credit card or combination of cards, you can optimize your spending by using these cards for your daily purchases as your travel points add up.

More From GOBankingRates

• I Earn Over $30K a Week in Semi-Passive Income on Amazon - Here's How
• 10 Cars That Outlast the Average Vehicle
• This is One of the Best Ways to Boost Your Retirement Savings in 2024
• 7 Things You'll Be Happy You Downgraded in Retirement

This article originally appeared on GOBankingRates.com: 9 Ways To Get the Most Out of Your Travel Credit Card

2024-05-03T17:10:51Z dg43tfdfdgfd