While you might think that most people sitting in the First Class segment of the plane are super wealthy, that may not necessarily be the case all the time. Many people who fly First Class have simply learned how to make the most of their credit card rewards to save on their travel. Curious how you can be like these savvy people? Read on to find out what we at GET.com have gathered for you below.
1. Accumulate Miles With Sign-Up Bonuses
The first and best place to start saving money on flights using credit card rewards is to sign up for an airline credit card that will net you a sign-up bonus. The number of miles awarded through the bonus will vary among credit card issuers and airlines. It also often depends on the promotion that is being made available at specific times. You might be pleasantly surprised to discover that one sign-up bonus can give you enough points to win you either an almost free or completely free flight.
It's not too late into the game, though. Here are the 6 best credit card bonuses available today.
2. Maximizing Your Points
Paying careful attention to where and how you charge your credit card can also help you to make the most of your points. For example, some cards will give you the option to earn a bonus if you charge purchases at certain retailers. Instead of earning one point for every dollar spent, you could earn two points for every dollar spent at that retailer. This is often the case at supermarkets.
Suppose you need to give a gift or you are planning to go out to dinner. Rather than paying cash for a gift card or for your dinner, stop by the store and purchase a gift card you can use to pay for what you were already going to purchase. The key is to make sure you pay off the purchases every month in full so that you are not also accruing interest.
3. Use Plastic To Pay
Earn as many miles as possible by using your card to pay for your regular expenses and bills, including incidental purchases and groceries. Each mile adds up, so be sure your card is working for you and helping you earn miles.
The trick to making this approach work is to only use your rewards credit cards for expenses or items you would pay for anyway and not spend more money than you ordinarily would just to get points or miles.
4. Avoid Hoarding Miles
A common tactic among many people is to hoard their earned miles in an effort to keep their elite status. Since airlines frequently devalue its point systems, which can increase the number of points you need to redeem a free flight, it is arguably not quite a smart move to hoard your miles.
The best option is to go ahead and redeem your miles as soon as you have enough of them for a free flight. Frequent flyers will usually regain their elite status rather quickly, and if you are not a frequent flyer, the benefits associated with elite status simply aren't beneficial enough to risk hoarding your miles.