Let me start by assuring you that you read the title correctly. Yes, it’s $5,000, not $500. Well, I admit that this could be hard to believe, and that’s why I plan to reveal tips I have personally tried that allowed me to save up $5,000 for my honeymoon through travel points.
The most important advantage of a credit card is usually the sign-up bonus. But before discussing this point, I want to make a quick disclaimer. Some people hunt credit cards with attractive sign-up bonuses and close their accounts after they use up the bonus to avoid any future costs in case the card carries an annual fee.
I want to start by saying that, although nothing illegal about this, it does not sound ethical, and I highly encourage you to avoid bad karma, especially when planning to travel.
This being said, keep an eye out for credit cards with high sign-up bonuses, sometimes they have a double offer for a limited time. What happened with me personally is that my sign-up bonus was around $500 after spending a specific target within a specific timeframe. Some sign-up bonuses come in the form of a free ticket which in some cases could value even more.
Sign-up Bonus More Than Once
Despite the fact that most credit card issuers forbid having two of the exact same card at once, some of them have rules in place allowing you can get sign-up bonuses from the same card, and having certain rules describing how often. For instance, Chase allows customers to re-apply for the sign-up bonus if they have not already gotten it in the previous 24 months.
Other credit card companies have similar rules. Although it is possible to obtain a sign-up bonus with some cards more than once, you probably shouldn’t make this your objective
Double Rewards Points
One of the ways I was able to save up $5,000 for my honeymoon through travel points is to hunt for double reward points that are offered occasionally.
You can find offers for specific periods of time, usually around holidays, to gain multiple reward points for every dollar you spend.
This is sometimes tied to flying with certain airlines, staying in a specific hotel, or using a pacific car rental service. Do not take it for granted, do your calculations first, and if it suits you, you could accumulate points on your card much faster.
Always use the credit card website for booking
Most credit card companies offer the flexibility to use their reward points to pay for all or part of your trip whether it was purchased on their website or not. But some credit cards make you earn up to 3X points for all your travel purchases if done through their website. This is an easy way to maximize your travel points
Travel points for travel and only travel
Take this as a general rule: redeem travel points only for travel. Never fall for the catchy offers to exchange your travel points for department stores gift cards or gas station gift cards.
From experience, they might look attractive at first, but you will definitely get more by redeeming them toward travel, almost always.
Never redeem your travel points for $50 purchases. This strategy makes you use up all your reward points and will never make you feel it was worth your while.
Instead, try to work towards a larger goal, you will be surprised how fast you accumulate points. Be patient and let the snowball roll downhill
To satisfy the demands of just about anybody, travel points provide a variety of advantages and rewards. They can make your dream trip closer by earning points during your everyday purchases
Wondering how to choose your honeymoon destination? Check my recent article here