Winning the Game of Free Travel With Miles, Points, & Perks
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If you love the miles & points hobby like I do, you’ve probably figured out how to make the most of the banks’ generosity in offering big credit card sign-up bonuses and perks.
But it’s important not to fall into the trap of paying interest and fees, because they’ll negate any rewards you earn!
In fact, there’s a reason banks spend so much money launching new cards and targeting new customers. Because they earn profits when folks apply for and use their cards.
But if you know the ins and outs of the credit card world, you can earn miles and points at little to no cost and get lots of Big Travel with Small Money!
Follow the Rules of Miles & Points
Because the banks’ number one goal is to make a profit, they want you to pay interest and fees, to make money and to justify any perks they offer.
They also want you to use their cards as often as possible, instead of a competitor’s card, because they’ll earn a commission with every transaction. And that’s why they offer rewards! Plus, they want to earn you as a customer AND keep you as a customer. In case you need another service they provide, like a bank account or loan, for example.
So be diligent when you apply for credit cards by choosing your credit cards carefully and tracking each card you apply for. Because lots of folks don’t redeem the rewards they earn or take advantage of cards’ perks, like annual travel credits.
Plus, if you can’t pay your bill on time and in full every month, I do NOT suggest getting into the miles & points hobby. Because any interest you accrue will likely negate the rewards you’re earning.
But don’t worry about the banks’ profits too much (ha!), because credit card companies make money from customers like us who pay their bills on time. They get a percentage of each sale from the merchant each time you make a purchase.
Bottom Line
If you take part in the game of miles & points, make sure to choose the cards you get carefully and pay close attention to statement balances and due dates . Because banks earn money when you pay interest and fees. And that’s why they entice you to sign-up for new cards with big sign-up bonuses.
Plus, if you can’t pay your balances off in full every month, the interest you accrue will negate any rewards you earn!
So learn how to maximize the miles & points you earn, and get Big Travel by playing the game wisely. 😉
Chase Sapphire Preferred® Card
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
Intro APR on purchases
N/A
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Rates & Fees
Other
MORE INFO
Chase Sapphire Preferred® Card
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
Intro APR on purchases
N/A
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Rates & Fees
Other
MORE INFO
Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)
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