Finance

What You Should Know about Collecting Travel Points on a Credit Card

Choosing a suitable credit card for your needs can be a bit challenging considering the numerous credit card companies offering a variety of packages and rewards. You need to take your time and carefully scrutinize the variety of cards relative to your needs to identify one or two that will provide you with the best deals. If you can get one that offers you complimentary travel insurance, that would be awesome.

According to Simon Sule, the Managing Director of Credit Cards NZ, in most cases, the complimentary travel insurance that comes with credit cards are just as good as a standard multi-trip annual insurance that you get from an insurance provider and in some cases even better. You get such offers when you collect valuable points using your cards. Here is more of what you need to know about collecting these points.

The More Money You Spend, The More the Points

It is obvious, that the more money you spend on your cards, the more reward points you get. If you are a frequent traveler, either for business or for leisure, you should take full advantage of this. You can also rack up points if your company pays for your traveling. You can then use such points to travel for leisure or your personal businesses. If you want to avoid racking up unnecessary bills and thus miss out on points, consider limiting yourself to just one credit card.

Weigh the Spending Against Rewards offered

You should know that the travel reward points you get are not for free. You have to spend a specific amount of money within a given period to qualify for specific rewards. You must weigh your options to see which card gives you the best deal. You will find companies that require you to spend about two thousand dollars within three months to receive like 30,000 points, and another offering the same number of points but requiring you to spend a thousand less but in a month and a half period. Of course, there will be other factors at play, so you need to get the details before signing up for one.

Consider the Blackout Periods

Some companies require you to spend your points only on specific periods within the year while others have an open plan system. It is also upon you in this case to decide the card that best suits your schedule. Those that require you to spend only on particular periods can be way cheaper than those with open plans. If you like touring areas of interest during the low seasons, which is the best time to do so, you can enjoy the cheaper cards and also get to get amazing deals on your travels.

Free Air Tickets and Discounts

Collecting travel card points allows you to get free air tickets or good discounts on those tickets. You do not lose anything if you travel frequently since you will pay for the new ticket anyway. Instead of just paying for your travels, accumulate those points and enjoy the discounts on a rainy day. 

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