Getting the most from your frequent flier and rewards points
You can get rewards points for just about any purchase you make. Whether its points that accrue on the credit card with which you pay or it’s signing up for a particular frequent buyer/flier program; reward points are everywhere. So, how to you capitalize on these programs and take most advantage of them? Several simple rules should be followed.
- Focus your rewards. Stick to It! As an example, I target Southwest Airline miles. Southwest Airlines has one of the most aggressive frequent flier programs. You can easily earn free flights and it’s simple to cash them in. You get credit for every segment you fly, sometimes you get double points. All you need is 16 points and you earn a free round trip.
- Target your Rewards. Find programs that can be converted from one type of reward to your target reward. Hertz rental miles can be converted into Southwest Miles as can Marriott hotel miles. Both programs occasionally also offer double points. However, these programs post directly to your Southwest Airlines account. So, when you stay at a Marriott or rent from Hertz, you can get .5 points on Southwest. So, fly to Chicago, earn 1 Southwest point. Stay at a Marriott and rent from Hertz, earn .5 pts each. Fly home, another Southwest point. That’s 3 quick points, only 13 more to go!
- Combine Offers. All things being equal use a credit card that gains you points towards your target reward. Southwest Airlines has a credit card that earns miles for everything you purchase as well as double points if you pay for Southwest air travel with the card. So, take the same trip above and you will earn 5 points instead of three and earn a portion of another point based upon how much you spend in total. So, we are now up to 5 points, only 11 left.
- Covert Offers. Convert existing program miles into target rewards. American Express allows you to cash out reward points for Southwest Airline miles. If you use American Express for corporate expenses, make sure you track those points and cash them out for Southwest Miles. Pay your wireless phone bill with American Express and you get triple rewards points! 1,500 Amex Rewards points earns you a free round trip on Southwest.
Last year I took my entire family of 9 on vacation to Disney World on Southwest for free. I worked ever mileage program possible during the year to cash in rewards points for airline miles. In the end, I saved over $1900 in travel expense!
