Travel Rewards - My Early Steps
I made mention to my love of travel in a previous post. I just wanted to outline some of the sources I use to gather information on travel deals, credit card offers / reviews.
There is a wealth of information online about all of these topics and it takes time to delve through data points to find out what works and what does not work. A lot of this information is primarily going to be useful for people that live within the United States.
I can't wait until there is a bit more competition within the travel market in Canada, so that travel by air becomes a bit more affordable for certain destinations. I have a lot of friends back in Toronto that would definitely be interested in travelling more often, but airfare and accommodation costs add up quickly. There definitely aren't as many rewards based financial products that assist in helping reach travel goals in Canada when comparing to the amount of products available within the United States. I understand there is a large disparity between the population of Canada and the United States, and due to different banking policies, it may not be as advantageous for Canadian banks to offer the same type of perks that are offered on products down here.
Given that we can't change how the market operates, I'm going to get into sources I use for gathering information on travel deals and cards within the United States. For my people back in Canada, there are a few blogs / boards that have information that can be found from a quick Google search that includes the keyword "Canada" as the rest of results will be geared towards U.S. residents for the most part.
Blogs I keep up with for travel information and deals are:
There is a wealth of information online about all of these topics and it takes time to delve through data points to find out what works and what does not work. A lot of this information is primarily going to be useful for people that live within the United States.
I can't wait until there is a bit more competition within the travel market in Canada, so that travel by air becomes a bit more affordable for certain destinations. I have a lot of friends back in Toronto that would definitely be interested in travelling more often, but airfare and accommodation costs add up quickly. There definitely aren't as many rewards based financial products that assist in helping reach travel goals in Canada when comparing to the amount of products available within the United States. I understand there is a large disparity between the population of Canada and the United States, and due to different banking policies, it may not be as advantageous for Canadian banks to offer the same type of perks that are offered on products down here.
Given that we can't change how the market operates, I'm going to get into sources I use for gathering information on travel deals and cards within the United States. For my people back in Canada, there are a few blogs / boards that have information that can be found from a quick Google search that includes the keyword "Canada" as the rest of results will be geared towards U.S. residents for the most part.
Blogs I keep up with for travel information and deals are:
The following are YouTube Channels I subscribe to that cover credit card reviews and spend optimization techniques:
One of the sites that doesn't necessarily fit into either of the above categories, that I check to get a better understanding of certain card products and how they work is Doctor of Credit.
The most important rule that will be repeated through most of these sources will be that if you're getting involved in using credit products to maximize on travel rewards or cash back, be sure to PAY YOUR BALANCE IN FULL EVERY MONTH to avoid interest fees, which would take away from the rewards you're earning by using the product on daily spend. The best thing to do is to use your card products on things you would use cash or a debit card for and do not get into the habit of spending more than you have. If you know that you do not have the self-control to spend less than you have with this "hobby", then it may not be for you. I would not want to encourage or see anyone go into debt chasing miles or points. For the people skeptical about having multiple cards to maximize on spend, The Points Guy's team has an article about all of that here.
One of the other things I've learned in these early stages is that selecting a credit product to suit your needs for maximizing spend will depend on how you spend regularly (you don't want to spend more than you normally do to earn miles / points / cash back). Another factor for the travel related credit products is where you live, where you will be travelling and what is best for you. There is a lot to figure out with which products you select and how you use them. The "best" product may vary for most people because most people's financial situations are different. If you can't draw a conclusion from the above sources, you can definitely reach out to me for some advice. I by no means am a financial expert, but may be able to give you some perspective that can help you make the most of the products offered to you.
Lastly, I want to list the cards I am currently using to maximize spend or travel bonuses. (Disclaimer: the ones with links are my referral links where you will earn some sort of sign-up bonus and I will also earn a referral bonus from the issuer.)
I am currently using the following cards:
- American Express Gold Rewards Card (Canada)
- American Express AeroplanePlus Platinum Card (Canada) - I will be switching to the regular Platinum Card as it fits my needs better before my next annual fee is due
- American Express Blue Cash Everyday Card
- American Express Hilton Honors Card
- Barclaycard JetBlue Business Card
- Chase Freedom Card
- Citi Double Cash Card
I will get into the cards I'm looking to acquire over the next few years in another post. What cards are you using to maximize spend and earn more miles / points? What resources are you using for information on products and deals?
Much Love!!!!
Comments
Post a Comment