It's no secret that summer is typically the most expensive time to travel. With warm weather and kids out of school, demand for travel is high, which can send skyrocketing prices.
Like a Chase Sapphire Preferred As a cardholder, my rewards still help me save money when my family and I book travel. But as prices go up, the rewards I worked so hard to earn don’t stretch as far. What might have covered a large portion of a vacation a few months ago now covers only a small percentage of my family’s trip.
Gerri Detweiler, Credit Card Expert
I talked to Gerri DetweilerCredit card expert, author and CNET Fellow expert review committeeWho said there was no doubt about it, the number of points we use to cover the increasing cost of travel has definitely increased.
“If you’re flexible, there are still plenty of deals out there,” Detweiler said. “But it’s going to be harder to find them if you’re determined to go to a particularly popular location at a particularly popular time.”
Your credit card rewards can still help you get a last minute vacation – if you're flexible.
Using a credit card with transfer partners
No matter your rewards, destination or dates, Detweiler recommends being open-minded about the different ways to earn rewards to get the best savings.
The right travel credit card can help you pay less, even if the rewards don't cover the entire flight or hotel stay. To maximize your rewards, Detweiler recommends finding a card that lets you transfer your points to an airline, hotel, or other partner. You'll typically get more value from your rewards this way, rather than the industry standard of 1 cent per point.
I put his advice to the test with my Sapphire Preferred card. Chase has 14 Travel Partners (11 airlines and three hotels), and I can transfer my points to any of them. Even if I prefer to fly DeltaIf Southwest has a deal as a Chase partner, I might be able to stretch my points further for last-minute travel by switching airlines.
Detweiler recently transferred points from his Chase Sapphire Reserve® to fly with Air France, and it worked in his favor.
“I thought I was going to pay a lot to fly back from Europe in May,” Detweiler said. Instead, she used just 20,000 points (plus $67) to get from Paris to the United States, and she was pleasantly surprised.
Besides the credit card, there are other ways to earn points. Some bank accounts offer points, such as Detweiler's American Express Rewards checking account, which offers Membership Rewards points on certain purchases. Bask Bank also offers a savings account that offers American Airlines miles instead of interest, which can be helpful.
Don't criticize co-branded cards, especially if you're a brand loyalist
A lot of best travel credit card Lists, including CNET's, focus on general travel cards, which often offer better value than co-branded cards. Airline company And hotel rewards credit cards They're not as flexible, but there are times when they can give you a more luxurious experience, Detweiler said.
Many co-branded cards offer travel perks like free checked bags that cover the card fee. annual subscription. A hotel or airline credit card can also be a good option if you already earn rewards with the brand and can improve your loyalty status, such as reaching Gold or Silver Elite status with Marriott Bonvoy.
For example, if you choose the Marriott Bonvoy Boundless® Credit Card and if you're already a Marriott Bonvoy member, you'll get complimentary Silver Elite status, which earns you 10% more points and a free stay each year. You'll also get perks like late checkout when available.
If your airline or hotel of choice isn't currently offering a great welcome offer, you may want to consider looking at other brands to see if you can get a better deal on your next trip.
Avoid popular travel destinations
Instead of paying full price for popular destinations, consider a lesser-known travel destination that may be more affordable and can boost your credit card points a little more.
For example, I used Chase's travel portal to find prices for a trip to the world of disney near Orlando, Florida, from July 18-22. Hotels near the park for those dates would cost me $150-200 per night. Round-trip flights from Charlotte, North Carolina, were about $1,000. Total for a family of four was over $1,600.
I chose another family destination for the same dates. Instead of paying for airfare, I chose a beach town in Charleston, Southern California, a place close enough to drive to. Hotels average $250 a night (a bit more than Orlando), but I'd pay just $359 for a rental car for four days. The total cost of the trip is $1,359 — and would be even less if I were to drive my own car. That's a price difference of $241. And I haven't even factored in the savings I'd make on food or event tickets, which are notoriously high at Disney parks.
Don't forget about your card's other travel benefits
Yes, credit card rewards can save you money when booking travel, but there are some valuable cardholder benefits that are often overlooked.
For example, instead of booking a flight, you might rent a car if your destination is within driving distance. If you rent a car, take advantage of your credit card's collision damage waiver or car rental insurance, which can otherwise cost you a lot (prices vary). If you're flying, you can forgo travel insurance and its hefty price tag if your card already includes it. Just make sure you understand the limitations of your coverage. Detweiler noted that she's had to use her card's travel insurance on several occasions, and it's saved her money, since it's not always a cheap add-on.
“When planning a trip, I encourage you to look at the other benefits your card offers, so you can get the most out of them rather than just focusing on, ‘How many points can I get with this?’”
Start planning now
If you can't travel this summer, that's okay. Instead, take advantage of this time to start saving and planning a trip in advance. Since you have time, you can get better deals on flights and hotels in book early. And your points can stretch further. Detweiler recommends setting up alerts to see when fares are on sale. You can use Hopper, Google Flights And Sky scanner There are a few options.
“Be prepared to spend some time researching deals and setting up alerts to see when fares go on sale,” Detweiler said. Whether you pay with credit card rewards or cash, keep an eye on your booking to see if the price drops. If so, you may be able to cancel your tickets or reservations without paying a fee so you can rebook at a lower price. Some credit card travel portals also monitor travel prices and will alert you if a lower option becomes available.
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