Breaking Down Credit Card Rewards with Brian Kelly
Brian Kelly runs The Points Guy to maximize dedicated reward programs website and credit card offers so much to get free travel and elite status as one only can. He knows the reward reservation systems, points programs and credit cards inside and out. Today Brian shares his secrets
Nomadic Matt :. How did you "The Points Guy"
Brian Kelly: I started young. I passionate about points, since I was 13 years old when I a family trip to the Cayman Islands scheduled airline miles with my father. At the time I was a sophomore in college, I was a US Airways Elite Flyer.
While working for a bank Wall Street after college I was constantly on the road, earn tons of miles and points and elite status with airlines and hotels, and that to me is a great journey of life in my spare time finance allows. I would travel to Europe for the weekend of miles and points with (I sat behind Madonna in British Airways First Class once - that was memorable), Went to a blowout luxury trip to the Seychelles with my partner for just a few hundred dollars with points , and hopped across the country.
I started blogging about news in the world points, as well as my own areas of expertise, and people began to read. Then began a lot of people to read it, and I decided to start blogging full time. That was almost a year ago, and it was phenomenal! Challenging and exciting and motivating all at the same time.
collected over the years, how many miles do you have? How many credit cards do you have to open it, must be done?
Of Credit, I have drawn in millions of points and miles. Literally. Last year alone, only through bonuses credit card application and expenditure, I raked over 0,000 points in. That took to do about seven cards.
Many people are concerned that credit card "churning and burning" is to hurt their credit score. What do you say?
I would never apply for multiple cards at once, as "churners" often someone do with less than healthy credit advice. For one thing, you probably will not get accepted. Secondly, you should first focus on fixing your credit, so you'll take full advantage of the lucrative credit card offers that are out there.
As I said, only 10% of your credit score is based on new credit - if the banks to carry out a credit application when you apply for a new card. Otherwise, the most important factors, your payment history and the amount of money you owe, the amount are combined to 65% of your credit score. So before you even think of new cards on the application, you have to your credit, to ensure and that you have a decent score.
If your credit is good, then apply for new cards, it should not hurt. Your score usually falls just a few points for a new card to open (of 850), so that the impact is minimal.
Have you cancel many of your cards or just keep going forever?
I notice some of my cards, mostly strong annual fees for the cards I'm not avoid actively or any kind of benefit from derive. But in order to take account fully close, I try, usually to ask for the bank, either the annual fee or downgrade on a no-fee card dispense so that the credit line remains open and keeps my credit score healthy ,
The whole point of the points is to find value, so if you find a credit card that will offer something of value for you, that makes it a good deal. The $ 450 annual fee on the Amex Platinum card seems some incriminating, but others love the $ 0 airline discount you get from it, lounge access, and to collect a variety of other benefits, including points Membership Rewards, while the lower for could seek the renewal fee the Amex Premier card Rewards gold prefer-with only an annual fee $ 175, where you will receive three points per dollar spent on flight and two points per dollar spent on gas and groceries, but not those higher level reductions. Still others might flexibility, prefer to use their points to a fixed value, like Capital One, the flight they want to buy, when they want, and in a premium cabin to fly they are not, while those who fly want to shop could remain internationally or in a fancy hotel suite points in their airline rack want and / or get the hotel program of choice through a co-branded card. It really depends on what you want to do with these points, and if you have a strategy in mind, go to the cards you get there fastest.
With so many deals out there to by so many different companies, what your top would three tips for maximizing these deals for free hotels or flights
1. Strategize - Write Signing ~~ POS = HEADCOMP not easy for any card with a OK deal on. If you have a particular trip or destination in mind, focus your efforts on the cards that you get the most miles on the airline that you will get where you need to go, and the hotel where you're staying.
2. focus not only on the sign-up bonus - are the best cards are those that allow for sustainable points your spending habits to earn through. And for that matter, make sure that you can put all the costs on a points earning card, so that you maximize your earning potential.
3. Make your homework - See what bonuses that credit cards that you have in interested are offered historically and make sure that you can get the best
Did you earn points in other ways besides these sign up bonuses. ?
Of course. I travel a lot so miles of sitting the good old fashioned way in a plane and go somewhere I earn. In terms of credit, are the best, not necessarily only those with the biggest bonuses. In my opinion the best points earn cards those that allow you to get your points to obtain lucrative earn bonuses category expenditure. For example, while the current Chase Sapphire Preferred bonus offer up to 40,000 key points from its peak of 50,000 reward, I still think it's a great card, because you all double points on travel and dining expenses (basically what I do) receive, and those categories are fairly broad, so that you can earn a lot of points. You could then connect the dots with the decisive points rewarded with the Chase Freedom Card quarter spending bonus categories earn, where you earn five points per dollar spent on things like food, office supplies, gas stations or certain retailers like Amazon. Suddenly you're looking at a ton of extra points. These are the types of cards worth holding, even after you have redeemed your sign up bonus.
How many miles a year do you fly? Is it all on points?
Last year I flew about 150,000 miles, and although some of these trips were with Miles (as seen from the United States to Mauritius in the Indian Ocean via Paris), and I recently traveled to Asia three weeks United and British Airways use miles, I pay for a lot of my tickets. After all, you have to make some of these miles and elite status fly.
for one minute Explain why you think these credit card offers are so good? Is it only the points that you get, or do you get other benefits such as the elite status?
It all depends on what you're looking. If you transferable points like the flexibility that can be used on a variety of airlines or hotels, then American Express Membership Rewards and Chase would look ultimate reward programs for you while if you want to be able to buy any ticket each time and care not fly coach, perhaps a points system determined value as Capital one venture Rewards is the way to go. If you go flying a lot of a particular airline, is perhaps the co-branded card you on, how Delta SkyMiles Amex should look that gets perks like free checked bags for up to nine people on your you elite status Reservation ( a great value) discounted SkyClub goes, and 20% discount on Delta in flight food and entertainment, as well as other positive results such as hear two miles per dollar; or the newly launched United Club Card, which gives at airports not only membership in the United Club, but also perks such as two free checked bags for the cardholder and one accompanying person, priority access and elite status with both Hyatt and Avis. That's a lot of value.
What is your favorite travel credit card?
I mentioned it earlier, but I love the Chase Sapphire Preferred card. It's probably my favorite card at the moment. The Ultimate Rewards points I earn is used, it can be transferred to a variety of partners, including United, British Airways, Korean Air, and Southwest, hotels including Hyatt, Priority Club (Intercontinental), Marriott and Ritz-Carlton, and Amtrak, so can I use it for just about everything. In addition, I get two points per dollar I spend on food and travel, which includes a lot of categories, such as taxis and even parking. I transferred recently the points that I got to bulk application and uses it business class from New York to Singapore with Singapore Airlines 60,000 miles and $ 2.50 USD in taxes / fees to fly. This was a great deliverance. It is also made of metal, so it feels good and it looks cool in my wallet.
. For more great tips on how to use airline credit cards and (legal) milk the points system for free travel make sure you read Brian Blog You can also use it to follow on Twitter
Disclaimer :. This content is not provided by American Express are available or commissioned. Here opinions expressed are author's alone, not those of American Express, and have not been reviewed by American Express, approved or otherwise endorsed. This site may be compensated through the links on this page through American Express Affiliate Program.
0 Response to "Breaking Down Credit Card Rewards with Brian Kelly"
Posting Komentar