December 11, 2023
Realistic Points and Miles Strategies
Pam
I know many of you wonder how we travel so often and acquire so many credit card points and miles. First of all, this is our job, so we definitely are more intense about points and miles than you need to be. We also prioritize a LOT of travel so that we can show you how to do it, rather than talk about how you can create your own strategies. Let’s talk about some realistic points/miles strategies for the normal person or family.
Number of Signup Bonuses You Should Get
Each of us at THM gets about 4-6 new credit cards each year for ourselves AND our spouses. That is a LOT, and since most of you won’t be traveling to the degree we travel, you don’t need to get that many cards. However, having 200,000 extra points and miles in your stockpile is always recommended for emergencies and last-minute trips if that works for you.
If you want to have one nice trip a year for your family of four, you should plan on trying to earn about 350,000 points and miles a year. I break this idea down this way:
- 35k/night at a nice Hyatt for a week = 245 points
- 25K/person to fly to your destination = 100 points/miles
Both can be averaged down or up depending on your destination, but this is standard for US and Mexico options. If you are a couple or have a larger family, you will need more points and miles. If you want to go on more trips, figure that in.
A trip to Hawaii each year is a realistic strategy with credit card points and miles.
How to Get 300-400K Points and Miles a Year
Getting 300-400K points and miles a year should be pretty easy for most people, especially if you can get business cards. I would say that you could average the usual signup bonus at around 75K, so 4-5 cards should cover what you need for a nice family trip. These three credit card signup bonuses would be perfect for the beginner with a Player 2 who could also get one or two of them with referrals.
Realistic Points and Miles Redemptions
Another area where you need to have realistic points/miles strategies is when it comes to redemptions. Because we have a lot of flexibility, we can wait for that insanely good price. IF you don’t have that kind of flexibility, you may have to pay more in points and miles for your particular trip. Don’t fret that. Let it go, and remember that free is free, and you can always earn more credit card points and miles.
Sometimes, I pay more than I’d like to, too. If I can’t find a low redemption on a certain date that matches my plans, I swallow hard and do it! Don’t let the joy of the trip be robbed because you didn’t get the absolute best value out of your points and miles!
I have an upcoming trip to the Maldives, where I paid way too much in miles to fly Singapore Airlines, but it worked with my dates!
Bottom Line
Even if you don’t find the same cheap deal we found or earn as many credit card points and miles as we do in a year, you can be very successful with earning and using credit card points and miles. Having realistic points/miles strategies for YOU is important. You be You! This hobby is a gift, so don’t let your expectations take the joy of it away from you!
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Great post and good point on setting realistic goals. I don’t always comment but do enjoy all of your posts. Thank you!
Thanks so much – I’m glad you find them helpful!
This was a great post. It’s hard to compete with someone that does this as a job when many of us do it as a hobby, so I appreciate the realistic goals!
We totally get it – we don’t want people to compare themselves to us at all as it is our job. Having realistic strategies and traveling for nearly free once or twice a year is the norm for most people!
25K one way. You can sometimes find Southwest flights for 25K RT.
How do you all feel about using credit card services such as Melio and/or Plastiq in order to pay a vendor with a credit card that wouldn’t otherwise accept them. I realize the fee these companies charge is 2.9% but the way I see it, I get 2% back with my Venture X card, and therefore I only need 1.5c redemption value to break even on that exchange. I ask this as a business owner who spends a lot of money at places that don’t accept cards- this could be a way to significantly boost my annual points earnings.
Thanks for the input.
It’s not a bad idea but I don’t thing either accepts Venture Cards. I could be wrong but check it out. I don’t mind paying a fee for the use of credit cards sometimes, especially when I’m trying to make a minimum spend. You just need to do the math and make sure it makes sense for you and your business.
Is there an an app that keeps track of CC monthly offers in addition to benfor AmEx/Chase/Cap1 etc. It’s a hassle to go into each online account and select each offer especially with AmEx since I have to go in to my number and my husband’s number and activate account credit or additional points offers on both. Then I have to attempt to remember which card has which offers and benefits.