Credit card companies offer rewards that can be used for travel, including airline tickets, hotel stays and even entrance to theme parks. Many people have taken exotic vacations using their travel reward points. For people who use their credit cards to make large purchases or for business expenses, reward points can add up quickly.
If you’re the type of person who doesn’t carry a large balance on your credit cards, or you pay off your credit cards every month, travel rewards are a great deal. If you tend to carry a large balance or your spending tends to get out of control, you may actually be paying more than you think for a few extra travel rewards. As your credit card debt piles up, the interest rate far exceed any benefits you might receive from a rewards card.
Believe it or not, you can actually put a price tag on travel rewards points. Frequent Flyer milers are one of the most popular travel rewards, and they’re valued at roughly one or two cents per mile. One of the best ways to increase the value of your frequent flyer miles is to use them for upgrades or discounts on traditional airline tickets.
Some travel reward points are restricted to use with one airline or hotel. If you are loyal to one airline, you can earn more points by applying for a credit card affiliated with that airline. If you want to be able to select your airline, American Expressand Diner’s Club are both known for their flexible travel rewards systems.
- Hotels: Marriott Rewards, Hyatt Gold , Hilton HHonors , Starwood – Online travel agency Orbitz.com has revealed that the most searched hotel amenities are Free parking, airport shuttle, swimming pool, pets welcome, and that the hotel has a spa or fitness center.Â Free parking and a fitness center to stretch out some seem to be the most sought after but there are other amenities such as gourmet coffee and free water that you can appreciate as an elite member of some rewards programs.Â Little things like free bottled water really add up if you have to take medication.
- Air Miles – The most important points you can earn are miles because they add up to more against the dollar. One Airline mile is worth more than 5 points in most hotel programs.
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