Scribbler Logo

    You have 4 summaries left

    ChooseFI

    442 | Intermediate Travel Rewards

    Mon Jun 19 2023
    Travel RewardsCredit CardsPointsFlightsHotelsRedemptionFlexibilityMaximizing Savings

    Description

    The episode covers intermediate and advanced topics on travel rewards, including earning and redeeming points for flights and hotel stays. It emphasizes the importance of responsible credit card habits and offers tips on maximizing savings and finding award availability. The guest shares personal experiences and insights, highlighting the value of flexibility and strategic timing. The episode also discusses tools and resources for converting credit card currencies, booking multiple award seats, and learning more about travel rewards. Overall, it provides a comprehensive guide to navigating the world of travel rewards.

    Insights

    Flexibility is Key

    Having flexibility in travel dates and destinations increases the likelihood of finding award seats and cheaper fares.

    Booking in Advance

    Booking flights and hotels early, especially around 330 days ahead of time, can provide better availability and itineraries.

    Consider Taxes and Fees

    When evaluating the value of using points for travel, it's important to consider taxes and fees, especially for international flights.

    Maximizing Hotel Rewards

    Using hotel points and free night certificates can lead to significant savings on accommodations, especially when strategically timed.

    Credit Card Benefits

    Credit cards with annual fees can offer great deals and opportunities for enjoyable weekend vacations or city getaways.

    Learning Resources

    Podcasts, conferences, Instagram stories, and reels are valuable sources of information for learning more about travel rewards.

    Value vs. Optimization

    Getting a deal that makes you happy is more important than optimizing every redemption, but aim for at least 1.25 or 1.5 cents per point.

    Booking Multiple Award Seats

    Booking four award seats is possible with flexibility and booking in advance. Splitting the booking can save points if there is a difference in price.

    Converting Credit Card Currencies

    Tools like Point.me can help convert credit card currencies to airline miles, allowing for more options when booking flights.

    Expertise and Assistance

    There are award booking services available for those who need assistance, and it's beneficial to learn from their expertise.

    Chapters

    1. Travel Rewards 201: Intermediate Version
    2. Travelroads 101: Credit Cards and Responsible Habits
    3. Booking Flights and Award Seats
    4. Flexibility and Splurging on Travel
    5. Converting Credit Card Currencies and Booking Options
    6. Maximizing Savings and Finding Award Seats
    7. Award Prices, Searching Tools, and Splitting Itineraries
    8. Booking Multiple Award Seats and Tips for Redemption
    9. Transferring Miles and Booking Services
    10. Learning Resources and Maximizing Value
    11. Considering Taxes, Fees, and Hotel Rewards
    12. Maximizing Savings on Accommodations and Credit Card Benefits
    Summary
    Transcript

    Travel Rewards 201: Intermediate Version

    00:00 - 06:40

    • The guest, Susie, is a mom and physician with extensive knowledge of travel rewards.
    • Susie recently went on a trip to London using points for flights and hotel nights.
    • She also earned a significant amount of points through a program called Mech Rewards.
    • During spring break, Susie stayed at Bahamara in the Bahamas using points to book two rooms.
    • Food at these resorts can be expensive despite using points for accommodations.
    • Brad and his family also stayed in the Bahamas at Atlantis using Marriott points for their stay.
    • They were able to get the fifth night free through Marriott's promotion.
    • Susie emphasizes responsible credit card habits when it comes to earning travel rewards.

    Travelroads 101: Credit Cards and Responsible Habits

    06:21 - 12:38

    • Before diving into travel awards, it's important to have smart financial habits and pay off credit cards on time and in full.
    • The Traveler's Triangle is a concept that helps with booking trips.
    • The three parts of the Traveler's Triangle are how much you want to pay, whether in cash or points, when you can travel, and where you want to go.
    • Flexibility in at least one corner of the triangle allows for better vacation options.
    • Booking trips during school breaks requires planning ahead due to limited flexibility.
    • Choosing destinations based on availability and affordability can lead to exciting experiences.
    • Having flexibility in travel dates can help find cheaper fares and award availability.
    • Cheap fares may come with longer layovers or awkward itineraries.
    • Booking early, especially around 330 days ahead of time, can provide first dibs on award availability and better itineraries.

    Booking Flights and Award Seats

    12:22 - 18:49

    • Most American airlines open their schedules for booking around 330 days ahead of time.
    • The schedules are released day by day, allowing travelers to book flights as they become available.
    • Booking round trips in miles can sometimes be cheaper than booking two one-way flights.
    • Award availability for flights may occur later on, but some people use tools like Expert Flyer to monitor availability.
    • Booking with miles allows for easy cancellation and return of miles to your account.
    • Flexibility is key when it comes to booking award seats, as there are a limited number available and they can be booked quickly by knowledgeable travelers.
    • Having flexibility in travel dates and destinations increases the likelihood of finding award seats.
    • Some people who are well-versed in points and miles systems book award seats as early as 330 days ahead of time.

    Flexibility and Splurging on Travel

    18:20 - 24:51

    • Flexibility with destination trumps limited travel times due to family commitments.
    • Having kids prevents booking higher award cabins like business class or first class.
    • Experiencing business class or premium seats makes it hard to go back to economy.
    • Occasionally splurging on a life let seat for long flights is worth it.
    • Encountered other travel hackers on a flight and had fun networking with them.
    • Zach Hood, creator of Travel Freely and Cash Freely, is a friend and will be a guest on the show.
    • Point.me is a user-friendly search tool for finding award space and converting different currencies to airline miles.
    • $240 annual fee for using Point.me.

    Converting Credit Card Currencies and Booking Options

    24:23 - 30:59

    • Point.me is a useful tool for converting credit card currencies to airline miles.
    • Alliances between airlines allow for cheaper flights using different mileage programs.
    • Using Turkish miles instead of American Airlines miles can save on flights to Hawaii.
    • Booking with other airlines may incur fees for canceling or reinstating miles.
    • Using British Airways or Air France miles can be cheaper than using Delta miles.
    • The Thompson Hotel in New York City and American Airlines offer good redemption options.
    • Canceling and rebooking hotels is easy with no downsides.

    Maximizing Savings and Finding Award Seats

    30:37 - 36:57

    • Hotels can be easily canceled and rebooked without any downside.
    • Starting small is a good approach to using points for travel.
    • Transfer bonuses can help save money and points when booking tickets.
    • Knowing when transfer bonuses are available is key to maximizing savings.
    • Point.me offers a free trial for $5 or a monthly subscription for $ dollars.
    • Using Google flights can help determine cheap destinations for point awards.
    • There may be a loose correlation between cheap cash flights and saver level award availability.
    • Airlines control the number of award seats available based on demand and pricing.
    • Dynamic pricing has replaced fixed award charts for many airlines.

    Award Prices, Searching Tools, and Splitting Itineraries

    36:34 - 43:08

    • Award prices and points can vary based on location, demand, and time of year.
    • Some airlines still use distance-based award charts, which can be advantageous for those who know how to use them.
    • There are various award searching tools available, such as Award Logic and Seats.arrow, but they may not be user-friendly for everyone.
    • Seats.arrow is primarily for last-minute international flights and requires breaking down the itinerary into individual segments.
    • Expert Flyer is a tool that alerts users when desired flight availability becomes available.
    • Air France and KLM often have good award availability for families traveling to Europe.
    • Splitting itineraries to save points is possible by booking some seats with awards and others with cash.
    • Using cash for one seat while redeeming points for the rest of the family may be an option if there are attractive cash offers or discounts available.

    Booking Multiple Award Seats and Tips for Redemption

    42:53 - 49:09

    • Booking four award seats is possible if you have flexibility and book in advance.
    • Using point.me, search for one person to find the lowest amount of points for an itinerary, then search for four people to see if the lowest points change.
    • Splitting the booking can save you points if there is a difference in price between two and four seats.
    • Check the airline's website to verify availability and avoid phantom award availability.
    • Book directly with the airline whenever possible, except when using Capital One Visa's travel portal.
    • Opening frequent flyer accounts with foreign airlines in advance can help streamline the booking process.

    Transferring Miles and Booking Services

    48:44 - 55:24

    • In order to transfer miles from a credit card to certain airlines, it is recommended to open frequent flyer accounts with those airlines in advance.
    • During a Bahamas scuba vacation, the speaker used Qantas Miles instead of American Miles, which was cheaper.
    • The process of linking British Airways miles to an American account can be done through a Google search or by calling British Airways.
    • There are award booking services available for those who need assistance, with Boundless Miles being a reasonably priced option.
    • If using a booking service, it is beneficial to ask them how they did it and learn from their expertise.
    • Instagram stories and reels can provide helpful information about travel rewards and points.

    Learning Resources and Maximizing Value

    54:58 - 1:01:26

    • Instagram and their stories and reels are a good way to learn travel rewards tips.
    • There are podcasts like Miles to Memories, Miles to Go, Geo Breeze, and Frequent Myler that provide helpful information.
    • Attending conferences like Frequent Travel University can provide advanced techniques and networking opportunities.
    • Learning travel rewards is about accumulating small pieces of knowledge over time.
    • To determine if a deal is good, consider the value per point compared to cash price minus taxes and fees.
    • Aim for at least 1.25 or 1.5 cents per point depending on your credit card.
    • Getting a deal that makes you happy is more important than optimizing every redemption.

    Considering Taxes, Fees, and Hotel Rewards

    1:01:04 - 1:07:31

    • Opportunity cost is important to consider when evaluating the value of using points for travel.
    • US domestic point bookings have a $5.60 one-way fee, while international flights vary in taxes and fees.
    • Some airlines, like British Airways, are notorious for high taxes and fees.
    • Hotels offer significant value through award charts and free night certificates.
    • Having multiple hotel credit cards can provide access to free hotel nights with high point values.
    • Example: Stayed at a Marriott Platinum hotel in London using a Ritz certificate worth $1,000 per night.

    Maximizing Savings on Accommodations and Credit Card Benefits

    1:07:13 - 1:13:25

    • Using hotel points and free night certificates can lead to significant savings on accommodations.
    • By strategically timing travel and utilizing credit card benefits, it's possible to find sweet spot rewards and get high-value redemptions.
    • The guest shares an example of using a nearly expired free night certificate for a category four Hyatt hotel room that would have cost $800 per night.
    • The redemption value was estimated at around six cents per point, but the experience of attending a Taylor Swift concert with their daughter was priceless.
    • Credit cards with annual fees can offer great deals and opportunities for enjoyable weekend vacations or city getaways.
    • The guest can be reached through their private Facebook blog called Sonic Travelers or on Instagram as @SusieSpad.
    1