Everyone would love to fly free, enjoy an upgrade to business class or earn a free hotel stay. But lest you think you don't travel enough to earn these benefits, think again. Kim Wonderley shares some travel hacks to quickly amass rewards points in this week's Road Report.
It's true, you don't need to be a frequent flier to reap the benefits of rewards points.
The best way to jump start compiling points is to sign up for one of the credit cards that offer generous sign up bonuses.
Now, this assumes you have good credit and that you're able to rack up a minimum amount of purchases within three months of receiving the card. One example is the popular Chase Sapphire Reserve, which has a sign-up bonus of 50,000 miles for customers who spend $4,000 within the first three months. It has a yearly fee of $95.
It's easier to hit the $4,000 threshold than you might thnk.Pay your bills, charge your insurance payments, buy groceries and electronics, like a TV or computer, with the card.
American Express and Capitol One have similar products, so shop around. For a card with no annual fee, look at the Bank of America Travel Card.
Most of these cards offer at least double points for purchases. Of course, you need to be smart about this and pay off your balance every month in full in order to maintain a good credit rating.
Brand loyalty will also help you amass points. Do you have a favorite hotel chain? Starwood hotels include Marriott, Westin, and Sheraton. Likewise, airline loyalty allows you to build points quicker. One option to explore is anAlaska Airlines program which partners with American Airlines and British Airways and many more.
Finally, if you have multiple sources for rewards, keep track of it all for free at AwardWallet.com. Plus Award Wallet will also alert you if points are about to expire or your balances change. This a wonderful resource to centralize all rewards programs.
