How I Earned $2,979 Worth of Travel by Putting an Engagement Ring on a Credit Card
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INSIDER SECRET: Credit card welcome bonuses are the fastest way to earn free travel. If you’re a big spender or have a big purchase coming up, your free travel opportunities are practically endless.
Do any of these scenarios describe you?
- You’re in the market for new appliances
- You’re about to make a down payment on a car
- You’re renovating your home
- You’ve recently popped the question
I’ll tell you now, if the answer is yes, it’s time to open a travel credit card. You can get thousands of dollars in value just from opening a card and using those big purchases to earn gigantic welcome bonuses.
My wife and I were married a couple months ago. I opened a card before I purchased her ring and used that spending to earn a welcome bonus worth $2,979 in travel. I’ll show you the four easy steps I followed to do it.
Get Free Travel by Opening a Credit Card Before Big Purchases
First, let me say that if you can’t afford a big purchase, don’t put it on a credit card. You don’t want a balance hanging on a travel credit card, because they have laughably steep interest rates.
If you can pay your balance within a month, your wildest dreams are about to come true.
1. Assess Your Travel Goals
My wife and I are traveling to South Africa later this year. By the time we return home, we’ll have circumnavigated the globe by flying east. Our trip will include the Middle East, Africa and Asia. The difficult part is deciding what we most want to do.
- Spend time in Israel (my absolute favorite place on earth)
- Explore the glitz of Singapore
- Book a hotel stay in the stunning Maldives
We’ve also got plenty of other less glamorous, but worthwhile travel goals:
- Attend a seminar in Chicago
- Visit family in Oklahoma for Thanksgiving
2. Find the Cards That’ll Save You the Most Money
Based on the list above, I can decide which credit card(s) will help me fulfill those goals.
For example, if we decide to go to Israel, we would open a credit card like the Capital One® Venture® Rewards Credit Card. You can use the welcome bonus toward nearly any travel purchase. I could easily get five free nights at a high-quality Airbnb in the heart of Jerusalem.
I decided to pursue a free hotel stay in the Maldives, so I opened a Marriott credit card. Marriott has some unbelievable hotels in the Maldives.
3. Open the Card That Saves the Most Money
I opened the Marriott Bonvoy Boundless™ Credit Card (the offer was 100,000 points after spending $4,500 within the first three months of account opening. This offer is no longer available and is not as generous now).
We’ll be staying at the St. Regis Maldives Vommuli Resort, which consistently sells for ~$1,300 per night. Thanks to a deal from earlier this year (you can subscribe to our newsletter so you don’t miss such things), I estimate that earning this welcome bonus will save me $2,979 on our hotel stay.
To be fair, I never would have paid $1,300 per night for any hotel room. This isn’t money I had planned to spend anyway, so it’s not exactly “savings.”
4. Swipe Your Card for Your Big Purchase
Now for the easy part. Once you receive your card, put your big purchase on the card. You should have your miles or points within a month
I used the new card to purchase my wife’s engagement ring. I earned the bonus straightaway, and I paid the card off.
This was money I planned to spend anyway. If I had just placed my purchase on a credit card I already had, this trip to the Maldives would be out of the question. I received 1,100% more value by opening a card before making the purchase. It’s like I received $2,979 off the engagement ring toward an amazing honeymoon.
Rich people aren’t the only ones who can afford to globe trot. Anyone with a large upcoming expense can do it, too.
If you’re anticipating a big purchase in the near future, open a travel credit card first. It’s an effortless way to make hundreds (even thousands) of dollars. Just be sure you’ve got the funds to pay your bill in full and avoid interest payments.
This is just one example of an easy way to free travel. There are countless others, which you can learn about if you subscribe to our newsletter. We’ll shoot you an email when we see an travel deal we can’t ignore.
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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.
Either $5 or 5% of the amount of each transfer, whichever is greater.
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