How To Travel More For Less
When it comes to traveling, our largest expenses without a doubt are airfare and lodging. But with careful planning, research, and having the right resources, we’ve been able to travel lavishly without spending a fortune, allowing us to splurge on other expenses like going out to fancy meals or enjoying a ride through the mountains of Ha Giang. Over the past few years, we’ve been studying aggressively to learn more about the credit card points and airline miles game. We know there is an overwhelming amount of information out there, so hopefully we can share some beginner tips on how you can also use our strategies on how to travel for less:
Choose the Right Credit Cards: When selecting credit cards that align with your travel aspirations and lifestyle, look for cards that offer generous sign-up bonuses, earning rates, and perks that cater to your travel style. Researching credit card transfer partners is paramount to ensure their loyalty programs encompass a variety of high-end properties that are best for you. While we love staying at private and boutique hotels, we prioritize our stays at Hyatt’s properties since we have Hyatt Globalist status. Strategizing your stays to gain hotel status will offer free upgrades, complimentary early and late checkout, free breakfast, waived resort fees, etc. In our experience, our international hotel reservations offered free upgrades without any issues, however, domestic hotel reservations in the U.S. were not as generous, and more often than not, we’ve been told “The hotel is fully booked and no upgrades can be accommodated”. As hotel lodging and airfare make up most of our travel costs, reducing these expenses can effectively diminish the “luxury” cost of luxury traveling.
Track and Optimize Spending: Keeping a record of expenses will help you stay on track and optimize your rewards. Maximize your earnings by using your credit card for everyday transactions, paying off the balance promptly, and avoiding interest charges. Some cards offer unique bonus categories, like dining or travel, which allow you to accumulate points even faster. Using the right credit card for your spending category will help you reach your points goals faster. Be sure to track the dates of when you opened our credit cards so you stay under the famous 5/24 rule.
Strategic Redemption: When booking travel your points, transferring to airline and hotel partners often presents the best value especially if there are limited-time offers such as bonus transfer points offered by the bank and their partner airlines. Pay attention to special point transfer offers by your bank as they often have limited windows for transfer; transferring your points during these times will make booking business-class flights and luxurious hotels even easier! By taking advantage of partnerships and leveraging elite status perks, you can easily decrease your overall spend on your luxury travels.
In addition to credit card points, tapping into other resources can further enhance your next travel experience while keeping costs low. Here are a few additional strategies:
Loyalty Programs: Make use of loyalty programs associated with airlines, hotels, and car rental companies. Accumulate points on premium credit cards such as American Express Platinum, Chase Reserve, Capital One Venture, etc., and enjoy special privileges such as priority boarding, access to exclusive lounges, and free upgrades.
Use Cash Back Portals: When booking hotels, rentals, or shopping online, always use a cash-back portal such as Rakuten to get cash back in either cash or American Express points. We opt for American Express points since we value those a lot more than simply a few dollars back on our purchases.
Travel Hacking: Stay informed about travel industry trends and promotions. Be flexible with your travel plans to take advantage of discounted fares, flash sales, or mistake fares, which can often result in substantial savings.
Villa Rentals & Home-sharing: Consider villa rentals or home-sharing platforms when traveling with longer stays. These options often provide a luxurious environment and amenities at a fraction of the cost compared to traditional luxury hotel chains.
Off-Season Travel: Embrace off-season travel to popular destinations. Not only can you relish the same luxury experiences at a reduced rate, but you'll also avoid crowds, making your journey more intimate and exclusive.
Initially, all of this information may seem overwhelming and discouraging but once you understand how the different partnerships and transfer points work, you’ll soon understand that it isn’t rocket science but convoluted by design - credit card, airline, and hotel partnerships don’t want to make it easy for the common consumer to get things for cheap or even free.
Maintaining a mindful approach to spending is crucial. Avoid unnecessary expenses by carefully planning your itinerary, seeking out local recommendations, and exploring affordable alternatives. Remember, luxury travel doesn't have to break the bank if you make the most of credit card points and other valuable resources at your disposal.
