At the end of each year, we should all go over a miles-and-points checklist to make sure that we’ve used all of our credit-card benefits, to see where we stand with our annual free-night certificates, and to check that we’re on target to achieve any status milestones we have in mind. There are also a few other things that can be smart to think about at the end of the year, such as points purchases.  I’ll discuss all of these so you can be sure you have everything covered as we head into the next year.

 

Checking All Your Credit-Card Benefits

We have a whole post about using annual card benefits associated with some of our favorite credit cards. Go through this list and make sure you’re using each of these benefits before they expire.  One easy way to keep track from year to year is to set up a spreadsheet and check off how and when you used each benefit. That can also help you evaluate whether you’re actually using a card’s benefits enough to keep it or whether you should consider downgrading or closing the card.

 

Which Calendar Matters?

Many of our credit-card benefits renew and expire with the calendar year (January 1 through December 31). But there are also a few credit-card benefits that take effect and expire on a “cardmember year,” meaning that it depends on when you applied for the card.

For instance, if you have the card_name, the $300 yearly travel credit is based on the cardmember year. So this credit renews each year on the anniversary of when you first got your card, not every year on January 1.  But the two $50 Saks Fifth Avenue credit benefits you receive with the American Express Platinum Card reset every year on January 1 and July 1, so for those credits, you’ll need to think about the calendar year, not the cardmember year.

So when you’re evaluating which benefits you’ve taken advantage of at year-end, remember to take into account any of your cards with benefits that renew and expire on a cardmember year, not a calendar year.  Even if you have two different types of “years” to keep track of, the end of the year is still a great time to assess where you are and set up a plan to use all your benefits.  

 

Airport Benefits

TSA PreCheck®, Global Entry, or CLEAR

Remember that if you have a TSA PreCheck®, Global Entry, or CLEAR credit on more than one credit card but you can’t use them all on yourself or your immediate family, you can offer to use your card to pay a friend or family member’s application fee.  This is a great way to share your benefits and not let them go to waste!  TSA PreCheck® credits and Global Entry credits are not annual credits, so you don’t need to use them by the end of your first year as a cardholder, but the end of the year is still a good time to make sure you have a plan for them if you haven’t already used them.

 

 

Lounge Passes

If you have the card_name, you receive two United Club lounge passes each year. You get these every cardholder anniversary, based on when you got the card. If you’re not going to be able to use the passes before they expire, you can share these passes with someone else.

The card_name also comes with two passes to a Capital One lounge. This benefit is also based on your cardholder anniversary, and unfortunately, you can’t share the passes with someone else. (Note: this benefit will end 1/1/25).

 

Hotel Benefits

Annual Free-Night Certificates

At the end of the year, I also like to look at my annual free-night certificates. I check to see which ones are still outstanding and then make a plan about when to use them. I even put an appointment into my calendar about a month before they will expire—I definitely don’t want to waste one!

Most hotel co-branded cards give you a free annual night certificate. Make sure you’re using them and make tentative plans for the next year as well if you plan to keep the cards.

 

 

Max Out Any Additional Bonuses for Spending

For some cards, like the World of Hyatt Credit Card or the American Express Hilton Aspire, you can earn a free-night certificate if you spend $15,000 on that card in a calendar year. If you’re close to that spending threshold and can use a free-night certificate for the following year, make sure to hit that spend before 12/31.

All information about the World of Hyatt Credit Card has been collected independently by Travel Mom Squad. The World of Hyatt Credit Card is no longer available through Travel Mom Squad.

 

Status Benefits

If airline or hotel elite status is important to you, then checking how close you are to reaching it is imperative at year-end.

 

Airline Status

I always have elite status with United because I generally pay for my domestic flights and prefer to save my points and miles for international business class. I just checked my status for this year and realized that I am 186 PQP short of getting Platinum Elite Status with United. It would be a huge mistake if I didn’t earn those last few qualifying points when I am so close! To reach that status, I will be upgrading to first class on my next flight in December. Talk about cutting it close!

 

 

Hotel Status

If you are just a night or two away from reaching a Milestone Reward with Hyatt, you might want to book a staycation to earn that reward. Booking the nights you need to hit your milestones at a local Category 1 or 2 Hyatt is an easy way to do this.

 

Transactions To Make Before Year’s End

Transferring Points or Buying Points

Marriott will let you transfer points to a family member, but they only allow you to transfer a certain number of points each year. I once wanted to transfer 200,000 Marriott Bonvoy points to my husband so that he could book a hotel for us because he had higher hotel elite status. I was so bummed to learn there is a max threshold of 100,000 points that you’re allowed to transfer each year. Always review whether you might want to do this at the end of each year.

There are not many times when buying points makes sense unless you have a plan for them. However, sometimes, it really does make sense! If I want to stay at a Kimpton or other IHG hotel, I might prefer to buy points if the cost of buying points for a specific stay would be less than the cash rate for that stay. Of course, I’d have to do the math to make sure it’s a good deal. You can only purchase 150,000 IHG points per year, so if you will need extra IHG points next year, it would make sense to take the time now to figure that out and buy some at this year end AND some next year so you don’t find yourself short next year.

Other hotels and airlines also limit the number of points you can buy every year, so be sure to check those thresholds annually.

 

 

Consider Putting Spending on Infrequently Used Cards

I have a lot of cards that I keep in the proverbial “sock drawer.”  Occasionally, credit-card companies will close cards that you don’t ever use after too long of a period of inactivity. The end of the year is a good time to review these cards and make a couple of small purchases on them to keep them active, particularly if they are some of your oldest cards and benefit your credit-card score.

 

Bottom Line

This is the perfect time of year to perform an end-of-year miles & points checklist. As you do so, plan which cards you might want to keep, cancel, or downgrade this next year.  Credit cards come with some fantastic benefits and perks. Make sure that you take advantage of every single one of them!