Unlocking the Power of Points: Your First Steps Towards Reward Travel
Before becoming full-time travelers in 2019, we were pretty much in the dark about the world of points and rewards travel. Sure, we had a credit card that was earning points, but our knowledge on how to redeem them, let alone optimize them, was practically nonexistent. But once we understood the incredible benefits it can offer and the significant savings it could yield, we quickly recognized the value in investing our time to grasp the basics. Fast forward nearly four years of full time travel and our points and rewards travel strategy has saved us tens of thousands of dollars. So, we're here to vouch for its authenticity and its potential to change your travel experience. You might already be sitting on valuable rewards without even realizing it! If you’re a newbie like we were, let's get you up to speed on the basics.
What are Travel Reward Points?
Simply put, travel reward points are a form of currency that you earn through loyalty programs. These points can be redeemed to cover or reduce the costs of various aspects of travel, including flights, accommodation, and car rentals.
How Do You Get Started with Travel Reward Points?
You'd be surprised at the number of points you might already have at your disposal. Here's how to get started:
Step 1: Organize Your Existing Loyalty Programs
Maybe it's been some time since you've audited all the travel loyalty programs you're part of - no worries! Your first step on this journey is to get organized. Begin by exploring all the airline frequent flyer programs, hotel loyalty programs, and car rental memberships you've ever signed up for. If it's been a while since you've logged in, updating your password might be necessary – a common scenario.
To keep things organized:
Update and store your login information and passwords in a secure manner.
Check each program individually to see how many points you've managed to accumulate.
Consider creating a spreadsheet or keeping a dedicated notebook for these programs, including details like the name of the program, your current points balance, and login details. This will serve as your master document for managing your rewards programs.
This step will help you understand your current position and potential.
Step 2: Inventory Your Credit Card Rewards
Switching focus, now consider your credit card rewards. If you're enrolled in cards that offer reward points instead of cashback, these can be utilized for various travel expenses like flights, hotels, and car rentals, among other things. Investigate the reward structure of each card and calculate the number of points you've earned.
To keep things organized:
Add a new section to your spreadsheet or notebook for credit card reward programs. Note down details such as the card name, reward structure, and current points tally.
Step 3: Don't Forget Your Travel Companions
To keep things organized:
Create an additional section or page in your spreadsheet or notebook dedicated to your travel companions' points and rewards programs, following the same format as before.
Preparing for Future Rewards Travel Adventures
The points you currently have might already hold enough value to provide you with some immediate benefits. But if you find yourself falling short, or confused about how to redeem them, don't worry, our upcoming articles will help. We'll cover the basics such as:
How to select the loyalty programs that are best for you
How to maximize your redemptions
Understanding the 'how' and 'why' behind transferring points between loyalty programs
Strategically boosting your points accumulation based on your spending patterns
If you have specific questions about your situation or don’t want to wait for the next article, I offer one-on-one assistance and am happy to offer my help and guidance. You can book an appointment with me here.
Safe and happy travels,
Adam
