If you’ve got the travel bug, you might find that it’s a dangerously addictive hobby that can leave you broke if you are not careful enough. Travelling to new places is exciting but finding your bank balance ruined is not.
On the other hand, a smart traveller can save up a lot if they accumulate and use travel awards to finance their vacations. In fact, many travellers only travel on their travel awards, successfully financing their whole trip with them. If you’re wondering how you can do that, take a look at the following:
What are Travel Awards?
Travel awards are points which are earned from a travel credit card or other plans by your bank. Whether you’re buying a house, refinancing a mortgage or conducting some other bank and finance related transaction, you can earn travel rewards with ease. In fact, there are not a lot of things that don’t offer any travel awards from their transactions.
When a person earns travel rewards, these are accumulated and are given to the person in the form of airline miles, free hotel stays, memberships and more that can be used to cover almost 80% of the total travel expenses you might incur on your journey.
Now if you are thinking about using a travel award to finance your vacation, here’s how you can do that with ease:
Deciding the Location
Before you know how many travel points you need to get to a location, you need to determine just where, who and why you are going. The ‘who ‘and ‘why’ may not be as important but the where is definitely one you have to consider.
Based on the location, you may or may not have better options than using your travel awards. You will have to do a little bit of research in order to figure out which hotels and airlines offer their services at the travel destinations and which travel cards offer the best deals and points. Sometimes, your chosen card may not be the best one for a certain location.
Researching Your Options
When you are considering a travel card option, opt for more than one and pick the top two out of the bunch. Make sure that even if one doesn’t cover a certain location, hotel or airline that the other one does. This makes up for the shortcoming of the first card. In turn, it gives you a way to collect travel rewards without having to miss out from travelling to certain locations just because the travel award is not operable over there.
Before you book a ticket or apply for a visa, make sure you have the right amount of award points in your account. This may take a little while to accumulate. Even if it doesn’t take long to collect them, do not start travelling without having those reward points chalked up.
Without reward points, you’ll end up facing a lot of the expenses. Any travel points you in this trip will only be usable the next time you go so keep that in mind.