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Earlier this year, I wrote why I think credit card points are better than Bitcoin. Since that post was published, the price of 1 Bitcoin has dropped by more than $7,300, or 68%.
Based on prior comments and angry emails I received, I know a lot of folks are super passionate about cryptocurrencies. And while I realize there isn’t a direct relationship between “funny” money like Bitcoin and credit card rewards, I think folks could get a much better return on investment by learning about the miles & points hobby.
For example, just last month my wife and I traveled in First Class to Hong Kong. The retail value of the trip was $35,000, but we only paid $184 out of pocket! This vacation wouldn’t have happened without investing some time researching and planning. And it likely wouldn’t have happened if I was consumed with daily price fluctuations of a made up “currency.”
Here’s what I love most about the miles & points hobby – if you’re willing to spend time learning and researching, no travel goal is off limits. And you can save a ton of money while you’re at it! Personally, all of the money I save by not having to pay for travel goes toward long-term investments and retirement savings. Taking advantage of the best travel credit card offers allows me to get thousands of dollars worth of travel to destinations around the world, including Bali, Cape Town, Hawaii, New Zealand, and many others!
Note, I’m not here to provide personal finance advice. You should consult with an investment professional for those important decisions. But I’ve seen many acquaintances become consumed with cryptocurrencies. And I think their time could be better spent on something more rewarding, like learning to travel for free!
And it’s not just me benefiting from the miles & points hobby. Just take a look at these posts with award travel success stores shared by Million Mile Secrets team members and readers:
- This Retired Veteran Is Using Miles & Points for an Epic 29-Country (and Counting) Journey!
- 1.1 MILLION Miles & Points for Nearly $66,000 Worth of Travel to New Zealand and Sydney!
- Over $20,000 Saved on a Family Vacation for 5 to Europe!
- Reader Nico Used Miles to Visit 21 Countries in 12 Months!
So instead of spending time and money in cryptocurrencies you can’t control, you can invest time in planning your next adventure. Then, start collecting the right miles & points to get you to your destination.
When friends and family ask which card is the best one to get started with, I usually recommend the Chase Sapphire Preferred®. This card comes with a sign-up bonus of 50,000 Chase Ultimate Rewards points when you spend $4,000 on purchases within the first 3 months of opening your account. Check out our guide with tips on how to meet minimum spending requirements.
Chase Ultimate Rewards points give you a lot of flexibility. They’re worth 1 cent each toward cash back. Or you can increase the value of your points by booking airfare or hotel stays through the Chase portal. And for maximum value, you could transfer points directly to Chase’s airline and hotel partners to book award travel.
Of course, earning rewards isn’t a long-term investment strategy. But in my opinion, dedicating time into learning how to use miles is worth more than throwing money at Bitcoin because with miles you have a guaranteed return of experiencing fantastic trips.
All comments are welcome below!