Frequent fliers tend to be well versed as to where to go to find cheap travel options, whether cheap airplane tickets, discount hotel rooms, or cheap vacation packages. They are also experienced in using credit cards in such a manner as to maximize the number of points they earn.
Below are tips many frequent travelers follow in strategizing how to earn as many points as possible from credit card purchases to redeem for free travel:
Be on the lookout and take advantage of lucrative credit card sign up bonuses. Credit card companies often offer tens of thousands of miles to customers just for signing up and tens of thousands more for hitting certain spending targets. Such combined bonuses sometimes total as much as 100,000 miles from a single credit card.
Most credit card companies will not allow customers to earn bonus points for signing up for a new card only to 60 to 90 days close their accounts and sign up for the same card to earn additional new customer bonuses. However, many individual banks, including Chase, offer as many as 10 to 15 different credit cards and savvy customers can earn sign up bonuses from multiple cards from the same bank.
Be on the lookout for annual and seasonal promotions that airlines offer where customers can earn bonus points for various activities. Continental recently ran a Continental Airlines Mileathon promotion where members could earn miles for signing up for email subscriptions, making airline and hotel reservations. Those points could be redeemed for cash.
Many credit card companies still allow their customers to use their cards to purchase cash and thus earn points. Customers have been known to purchase dollar coins from the US Mint in increments of $1,000. The coins are shipped for free and can be deposited in a bank when received.
Savvy mileage strategists are constantly looking for new credit cards. New tantalizing credit card offers come out regularly. Users want to be careful though not to retain too many cards, since annual credit card fees can offset the value of the card if the user is not careful.
Being organized is critical to maximizing credit card points. It is advisable to create a spreadsheet that has the name of the card, the date the application was completed and approved, the bonus promised and when the bonus is posted. You should make note on a calendar a few weeks before an annual fee will be charged so that you can decide whether it is in your financial interest to keep the card. www.cheapfares.com