**Saving on Summer Travel: Maximizing Your Savings with Travel Rewards**
With summer vacations upon us, it’s time to plan your getaways without breaking the bank. This year, instead of giving in to the sky-high prices of summer travel, there are smart ways to use your travel rewards points to significantly reduce your spending.
According to a study by Fatshimetrie, the cost of summer travel is down this year. However, the average domestic flight fare in the United States remains high, averaging $455. While that’s a 13% reduction from last summer, traveling this summer can be expensive. That’s why leveraging your points and miles for airfare and hotel stays is a smart move.
Here are some tips for earning and effectively using your travel rewards points for your summer vacation. Learn about the best travel credit cards for earning points, how to maximize your rewards use, and tips for finding flights and hotels using your points.
**Earn a Welcome Bonus with a New Credit Card**
The key to getting free travel with your travel rewards is earning them in the first place. If you need a boost to your travel rewards account, consider adding a new credit card to your wallet.
Many of the best travel credit cards offer welcome bonuses that will help you rack up travel points quickly. Right now, several credit cards are offering $1,000 or more in travel bonuses if you meet the minimum purchase requirement.
For example, the popular Chase Sapphire Preferred® Card is a great option to consider. Right now, you can get a $300 travel credit with Chase Travel℠, plus 60,000 bonus points after spending $4,000 in the first three months.
The Points Guy estimates Chase Ultimate Rewards® points to be worth 2.05 cents each, which means those 60,000 Ultimate Rewards points are worth $1,200 or more when redeemed with Chase transfer partners.
By quickly racking up rewards through a welcome bonus, you can top up your accounts and use them for free travel during your much-needed summer vacation.
**Focus on Earning Flexible Travel Rewards Points**
However, it’s not just about earning any type of travel rewards points. It’s best to focus on earning flexible travel rewards. That’s because flexible rewards like Chase Ultimate Rewards points, American Express Membership Rewards points, Bilt Rewards points, Citi ThankYou points, and Capital One miles offer more versatility than earning rewards in a single airline or hotel loyalty program.
The main benefit of flexible rewards is that they can be redeemed with multiple airline and hotel partners. Each flexible currency has its own portfolio of airline and hotel transfer partners. These cards also allow members to redeem them through their travel portals at a fixed value.
For example, you can redeem American Express Membership Rewards points through the American Express travel portal, but you can also transfer them to American Express airline and hotel partners. The credit card issuer has 20 air and hotel transfer partners, including Delta SkyMiles, British Airways Executive Club, JetBlue TrueBlue, Virgin Atlantic Flying Club, Marriott Bonvoy, Hilton Honors and others.
Transferring points to an air or hotel transfer partner means you can take advantage of different redemption “deals” within each partner program. For example, you can transfer Amex, Bilt, Chase and Capital One points to the British Airways Executive Club program to book short-haul flights with American and Alaska for less than 10,000 points roundtrip.
This flexibility allows transferable credit card rewards to provide great value and flexibility. Unlike airline- or hotel-specific credit cards, these allow you to book flights and hotel stays that best fit your travel plans.
**Involve your spouse to earn more points**
If you are a couple, you can earn rewards faster if your partner also spends on the right cards. By including your partner in the point accumulation for your next trip, you have two options to do so. The first is to add your partner as an additional credit cardholder to earn points together.
It is essential to know the benefits of earning these rewards points to plan your trips more advantageously. With careful planning and wise use of your travel rewards points, you can have an exceptional summer vacation without breaking the bank. Follow these wise tips and maximize your savings for unforgettable trips.