A tip for anyone with a low monthly spend amount: look at your year ahead to see if you have any upcoming payments that would help you hit the minimum spend. I am a single person household and keep my monthly budget low. Normally I would struggle to hit the minimum spend within the timeframe paying just my normal expenses. When I knew I had an upcoming procedure that I would need to pay out of pocket, I researched and made sure I applied for an airline credit card before the procedure. (Made sure it would be in my hand by the procedure date.) I was able to knock out the minimum spend with that one payment, and bought my tickets to a friend’s destination wedding with the points I earned!
I am so glad you talked about paying the card off and not getting another if you are not disciplined enough to keep them paid off. Many are not ready to have a credit card. Love your channel!
I got rid of all my credit cards when I was getting out of debt with Dave Ramsey. With that being said, I've herd this term from a few different TH-cam channels and have remained intrigued. This is the most thorough explanation that I have herd of the process. Thank you for that!
If one can use CC responsibly they can be an excellent tool. I think of mine as a debit card. I don't use it unless I already have the money to cover the charge. Navigating life without a CC is extremely hard these days
@@mbarnes1300 I'm assuming that's why she alternates opening a card in her name and then the next year in her husband's name. So her credit will only take the hit for canceling every two years?
I love my Discover card - no annual fee, and we get about $1000 cash back every year. We use that to get gift cards that are usually priced at 90% of the card value, so we end up with more like $1100. I have thought about playing some of the games moving from card to card, but I just don't have the energy... But I did make sure recently that all of our utility bills are charged to our credit card instead of our bank so that we always get points.
yes so many people arent taking advantage of this. earn money on what ur spending. if ur going to spend it anyway on necessities and pay it off everymonth u can make money on the deal whether its cash back or gift cards. it drives me crazy to hear so many people say they dont have a credit card they are missing out. of course this is for responsible people that dont have to carry a balance
I have Mom's utilities and mail order Rx on my discover, that way if she's ever in hospital, we don't have to worry about utility not getting paid (this happened once, so that's why I set it up this way - no issue with late utility payment). I get the points, she's never missing a payment and she pays me directly. Same for her Rx. She never misses refills, I get points, she pays me back. Also have my utilities and auto pay toll tags, groceries, gas. Win win win!
How do you get $1000 every year. I'm new to this and I try to fully understand credit card churning. I know sign bonus is only once for a lifetime for some credit card issues or every 2 years for other.
AHHHH so happy to hear your disclaimer (as a former needer and teacher for Dave Ramsey and still a user of YNAB) ITS SOOO TRUE - if you can't pay the man don't do this :) but FOR THE REST of us BRING IT ON :) glenda
This was perfect! Exactly what I needed right now. I’m close to paying off my credit card debt and to start traveling more so this helped a ton. Hearing you say that you only do one card a year was a super help also!
I told my friend to do this with NO credit card and she did and got into debt . Oh man I feel so awful!!!! I pay mine off every month but most people don't do it.
We use the Sam’s card every month like Sarah from our tribe of many. Pay it off every month. I’d love to see how you redeem the air miles. We’ve never flown as a family because of the cost. We always drive. If I can get tickets for my family of 6 to travel that would Be awesome.
Great video Christine! We are starting to do a lot of air travel coming up and I am going to try this. I have never had a card that gives miles. New adventures for me lol
We are very disciplined and pay off our cards every month. I have both the Southwest and Delta cards. I have had both for years and have not had to pay for a flight ever since I got them.
How many points equals $1 of ticket purchase price? I don't understand what the points are the equivalent to-what does it get me. I do this with cash back because I found that the card companies kept changing the point equivalents.
We rotate between 2 cards we have had for a long time. One to pay our annual fee for Costco and generally cash back to pay for prescription glasses. The other is Southwest for flying miles. I have paid minimal for airline tickets for me, our son, and even purchased for other people. Paid off every month. It does take discipline and a couple of times we got in a bit of a pickle but still paid no interest, it was just extremely tight a couple of months.
I am 5 years into card efforts. My credit score has never been higher. My vacations are easily usually 25-33% off, could be more if I focused entirely on points use. It is a very valuable effort for those who want to put in the effort, effort is kinda small. Airlines cards use and close. Hotel cards are mostly use and keep for free night carts annually. Points programs are mostly find one and stay with it, like stay with chase or stay with cap1 or stay with Amex….but not all 3 unless you know you can spend a lot and I mean a lot to support more than one of those.
Love this! I'm looking to seeing if this will work for Canadians as well. I want to travel but it's sooo expensive 😫. Hoping this will work so I can finally do all the traveling I want for a cheap as possible. Thanks for this video!
Check on Southwest - I think ? they are double pointing your cable bills every month ? I have not done it but I think about it ..I love my SW card BUT that's because we fly with them FREQUENTLY - much more than any other airline - Glenda
I'm not as sophisticated as you are, but I 100% churn cards for 0% interest for 15 months. No fees allows me to use the card for free, to have a credit card and NEVER pay fees (as long as I make payments on time). With the zero percent, I have a card to use when desired and pay nothing for it. You are right that you CAN NOT have an issue with spending if you want to do this. Just don't. But if you don't have that concern, churning cards is a great way to use credit. Doing this has upped my and my husband's credit score by a couple hundred points. We're in the good/excellent range.
I love southwest my flights have been $11 for the past 5 yrs its a keeper for me. American is not great for me the initisl points allowance got me no where.
canceling the cards will hurt your credit a little. but as christine said she onl does one foemr her and dave every other year. she also said NOT to do this if you are trying to build your credit because of an upcoming mortgage ur trying to get or a car loan or something important. if it hurts your credit a little, but so what unless u need it for something soon. a little ding when u dont need to worry about it is no big deal. she also said be responsible with it and make sure ur paying all your biils in full and ontime.
hummmm I have never heard of Credit Card Churning. Interesting Video. We are doing the Dave Ramsey Baby Steps so credit cards are a NO NO. I would be curious how cancelling a credit card after only 6-12 months then applying for and opening a new credit card the following year would negatively effect credit report?1?!?! And per the Ramsey plan... your goal is to get to the point where you have NO credit score (because you don't owe anyone money/have any loans). So if you do that then you will not qualify for any credit cards (I assume)... This is all thought provoking. Thanks FFM! 🙂
I did Ramsey 12 yr ago and the goal is to have no credit debt (credit card or any loans, except mortgage) NOT 0 credit score, just wanted to clarify. Even without credit cards or loans, the credit agencies they still keep track of your credit score (if you pay bills on time; Unused payed credit cards history is still on file for like 10 years) hope it helps😊
Thanks! I’ve been waiting for you to do this video. :-) I have done the cash rewards and cash sign up bonus stuff but I want to learn about the miles cards. Thx. Like how do the mileage points actually work is what I wanted to know. Let’s say I get a card and there’s 50k points. How many miles is that really 50k miles and how do you spend them? Super confused. Thx.
my question is how much is a ticket with points. i dont fly often so i dont know how this points thing works. how much will 80,000 points get u for a ticket. i understand the different rates for airlines and places but an example would be helpful. like lets say chicago ord to lax a regular ticket on american would be *xyz* and a ticket on points would be comparable to how many points. does that make sense? thanks in advance
where I live there isn't bery good deals on credit cards and points but I do the same thing with our Home Loan......Can't tell you what it is otherwise everyone will be doing it. Your banks have to oer this deal too.
I'm curious about the card cancelling. I've always heard that you shouldn't cancel credit cards because having credit cards open increases your credit availability (assuming it is getting paid off each month), which can improve your credit score. I'm curious of your thoughts on this. Love the financial content!
I was also wondering about canceling and opening other credit cards. Also, what if you circle through all the cards and want to re-open the cards you canceled?
I would love to see your planning for how to spend these points... Do you plan your trip first and then churn to earn miles or do you churn and THEN plan?
How exactly does the whole redeeming mileage points process work? I’ve doen the sign up cash and cash rewards cards but the point stuff is confusing. How do you use them? Someone please explain. That’s what I was hoping this video would include.
Not if you have a long credit track record like Christine has. IF you have significant available credit on other cards, it lengthens one's credit history by eliminating the newest card.
not really no. we have our credit card with macquarie and it’s a qantas rewards card. expensive but worth it. as you say, qantas has a monopoly on the market so it’s hard to get a great deal when there’s hardly any players in the field. we just stick with the one card and accumulate a ton of points. we’ve flown a heap for free and regularly upgrade to business (for the whole family) for next to nothing. we basically live off our credit card then pay the balance every month in full. so all the points and zero interest. i’m yet to find a better way to do it. hey christine, unrelated to this video, but would you ever give us a tour of your home gym? would love to see what you’ve got and your equipment and how you use it for your workouts.
What are your thoughts on store credit cards? I have a Lowes credit card that saves 5% on purchases (basically the tax) but I literally put the purchase on the card and immediately pay it off at the same register. Do you have any experience with Amazon or Walmart cards?
Intrigued. Are all these cards business cc or personal cc? I'm one year out from Ch7 and rebuilding my credit. I've been able to get a couple cards and spend a little and pay off. Not allow myself to get in a bad place ever again. A lot of bad finances is money issues but also mind, anxiety issues etc .
@@truthseeker6370 totally agree. I definitely would not. It was just interesting to see. I completely understand. I was also left a single parent with a lot of debts and barely making 20+ years until I couldn't anymore. Starting over at 50 is hard but it's going well so far 🙏🏻
By now there have to be rules against cancelling cards after a short while. No? LOL I mean... Back here in Belgium there are villages and towns that no longer have cash machines due to all banks wanting people to only go digital, except they force this on us, we rank lowest on the scale of ATMs in this country. And banks don't even want to admit they are in the wrong. You could never do that with a card here. Ever.
There are considerable advantages to being a country where 50 states agree on many of the same processes. We do not pay for fraud protection, we don't buy life insurance for our credit card balances - much more. We don't know how lucky we are.
does the short lived credit cards not affect your score? I thought your credit history was averaged rather than just based on your longest credit account.
How often do these miles, etc usually last? Can you save them for years? Especially the travel ones. We have a little guy so won't be traveling much for awhile so I've been doing points to redeem for gift cards.
Points generally do not expire if they are a transferable currency (ie Capital one points, Amex membership rewards points, Chase ultimate rewards points) The don't expire but they do lose their value. Airlines are constantly updating their award charts. You might be able to get a flight this year for 10,000 points but in a few years it could change to 40,000 points. I would wait until you are closer to traveling again before you start to earn your points. Just know that if you earn the points and do not redeem the points and cancel the card, the points are gone.
@@thebudgetlifestyle1656 Yea see that's my problem with the whole "point" thing. How much is that actually? Like you said, you go to buy tickets, can you buy 2 or only 1? You have no idea until you've already done it. So it's tough.
@@loveGG3 I would suggest following some dedicated traveling hacking bloggers/instagramers to get a better feel for it. But just as an example, I just flew from New York to Frankfurt in Business class on Singapore airlines for 72,000 points I transferred from Chase Ultimate Reward points which I got with one CC sign up bonus. The value of that ticket was $1800. That roughly equates to 2.5c per point which is a good redemption
If done correctly it will actually raise your score in the long run. That is because you will have a lower spend to credit limit ratio. You will get a temporary ding to your credit score right after you get a new card but it will rebound in a couple of months. I have been travel hacking/CC churning for a few years and my score is better than before I started. ( I do it at a higher pace than she does though)
A tip for anyone with a low monthly spend amount: look at your year ahead to see if you have any upcoming payments that would help you hit the minimum spend. I am a single person household and keep my monthly budget low. Normally I would struggle to hit the minimum spend within the timeframe paying just my normal expenses. When I knew I had an upcoming procedure that I would need to pay out of pocket, I researched and made sure I applied for an airline credit card before the procedure. (Made sure it would be in my hand by the procedure date.) I was able to knock out the minimum spend with that one payment, and bought my tickets to a friend’s destination wedding with the points I earned!
I am so glad you talked about paying the card off and not getting another if you are not disciplined enough to keep them paid off. Many are not ready to have a credit card. Love your channel!
I got rid of all my credit cards when I was getting out of debt with Dave Ramsey. With that being said, I've herd this term from a few different TH-cam channels and have remained intrigued. This is the most thorough explanation that I have herd of the process. Thank you for that!
If one can use CC responsibly they can be an excellent tool. I think of mine as a debit card. I don't use it unless I already have the money to cover the charge. Navigating life without a CC is extremely hard these days
But what about your credit history for your credit score?
@@mbarnes1300 I'm assuming that's why she alternates opening a card in her name and then the next year in her husband's name. So her credit will only take the hit for canceling every two years?
I love my Discover card - no annual fee, and we get about $1000 cash back every year. We use that to get gift cards that are usually priced at 90% of the card value, so we end up with more like $1100. I have thought about playing some of the games moving from card to card, but I just don't have the energy... But I did make sure recently that all of our utility bills are charged to our credit card instead of our bank so that we always get points.
plus they have great US-based customer service too
yes so many people arent taking advantage of this. earn money on what ur spending.
if ur going to spend it anyway on necessities and pay it off everymonth u can make money on the deal whether its cash back or gift cards.
it drives me crazy to hear so many people say they dont have a credit card they are missing out.
of course this is for responsible people that dont have to carry a balance
@@ohemptysad … yes, i love you can always talk to someone in person if needed and you can understand them.
I have Mom's utilities and mail order Rx on my discover, that way if she's ever in hospital, we don't have to worry about utility not getting paid (this happened once, so that's why I set it up this way - no issue with late utility payment). I get the points, she's never missing a payment and she pays me directly. Same for her Rx. She never misses refills, I get points, she pays me back.
Also have my utilities and auto pay toll tags, groceries, gas.
Win win win!
How do you get $1000 every year. I'm new to this and I try to fully understand credit card churning. I know sign bonus is only once for a lifetime for some credit card issues or every 2 years for other.
Very cool twist, rotating spouses on card churning😉.
Great video!!
Can you do a follow up about paying with points to buy tickets?💚
AHHHH so happy to hear your disclaimer (as a former needer and teacher for Dave Ramsey and still a user of YNAB) ITS SOOO TRUE - if you can't pay the man don't do this :) but FOR THE REST of us BRING IT ON :) glenda
Our banker told us, when we were applying for a loan to buy a house, that canceling credit cards can hurt your credit score
You can disable it
This was perfect! Exactly what I needed right now. I’m close to paying off my credit card debt and to start traveling more so this helped a ton. Hearing you say that you only do one card a year was a super help also!
your very disciplined! I don’t think I could be, I’m learning with baby steps
Genius! We've been trying to determine the cheapest way to visit family in Texas. Bam!
Thanks for this! Would love to see how you/if you decide what flights are the best to maximize your points when you turn them in ❤️
I told my friend to do this with NO credit card and she did and got into debt . Oh man I feel so awful!!!! I pay mine off every month but most people don't do it.
Thanks Christine for your advice. I've been kind of doing that for years.
We use the Sam’s card every month like Sarah from our tribe of many. Pay it off every month. I’d love to see how you redeem the air miles. We’ve never flown as a family because of the cost. We always drive. If I can get tickets for my family of 6 to travel that would
Be awesome.
Great video Christine! We are starting to do a lot of air travel coming up and I am going to try this. I have never had a card that gives miles. New adventures for me lol
We are very disciplined and pay off our cards every month. I have both the Southwest and Delta cards. I have had both for years and have not had to pay for a flight ever since I got them.
How do redeeming the points work for buying flights ?
Love learning these types of financial hacks. Great content! Thanks and Merry Christmas!
This was great information Christine!!
How many points equals $1 of ticket purchase price? I don't understand what the points are the equivalent to-what does it get me. I do this with cash back because I found that the card companies kept changing the point equivalents.
Delta, 1000 points is about $10. Don't get too excited!
We rotate between 2 cards we have had for a long time. One to pay our annual fee for Costco and generally cash back to pay for prescription glasses. The other is Southwest for flying miles. I have paid minimal for airline tickets for me, our son, and even purchased for other people. Paid off every month. It does take discipline and a couple of times we got in a bit of a pickle but still paid no interest, it was just extremely tight a couple of months.
I am 5 years into card efforts. My credit score has never been higher. My vacations are easily usually 25-33% off, could be more if I focused entirely on points use. It is a very valuable effort for those who want to put in the effort, effort is kinda small. Airlines cards use and close. Hotel cards are mostly use and keep for free night carts annually. Points programs are mostly find one and stay with it, like stay with chase or stay with cap1 or stay with Amex….but not all 3 unless you know you can spend a lot and I mean a lot to support more than one of those.
Love this! I'm looking to seeing if this will work for Canadians as well. I want to travel but it's sooo expensive 😫. Hoping this will work so I can finally do all the traveling I want for a cheap as possible. Thanks for this video!
I know!!! What’s with the cost of travel here in 🇨🇦. I feel ya girl.
This is Absolutely nothing to do with credit card question BUT are you allergic to that necklace? lol
Also, great info Christine!
Hi Christine 👋
Check on Southwest - I think ? they are double pointing your cable bills every month ? I have not done it but I think about it ..I love my SW card BUT that's because we fly with them FREQUENTLY - much more than any other airline - Glenda
Very interesting video🤔. Thank you for the information. I may try this in the coming year to gain some travel points.
I'm not as sophisticated as you are, but I 100% churn cards for 0% interest for 15 months. No fees allows me to use the card for free, to have a credit card and NEVER pay fees (as long as I make payments on time). With the zero percent, I have a card to use when desired and pay nothing for it.
You are right that you CAN NOT have an issue with spending if you want to do this. Just don't. But if you don't have that concern, churning cards is a great way to use credit. Doing this has upped my and my husband's credit score by a couple hundred points. We're in the good/excellent range.
That was a very clear explanation, thank you Christine.
You are so welcome!
How many plane tickets typically does 70,000 - 80,000 points get you?
Yep, Did the Capital one Venture X and onto the Citi Premiere!
I love southwest my flights have been $11 for the past 5 yrs its a keeper for me. American is not great for me the initisl points allowance got me no where.
love this info. would pair well with the faredrop app too, I bet.
As for your longevity card.. how often have they bumped up the credit ceiling? lol.
canceling the cards will hurt your credit a little. but as christine said she onl does one foemr her and dave every other year.
she also said NOT to do this if you are trying to build your credit because of an upcoming mortgage ur trying to get or a car loan or something important.
if it hurts your credit a little, but so what unless u need it for something soon. a little ding when u dont need to worry about it is no big deal.
she also said be responsible with it and make sure ur paying all your biils in full and ontime.
Get Global Entry it has TSA Pre-Check in it and if you ever do international travel you get to skip the lines… 100% Global Entry for the WIN!!!!
NO. GLOBAL ENTRY DOES NOT HAVE TSA PRE-CHECK
hummmm I have never heard of Credit Card Churning. Interesting Video. We are doing the Dave Ramsey Baby Steps so credit cards are a NO NO. I would be curious how cancelling a credit card after only 6-12 months then applying for and opening a new credit card the following year would negatively effect credit report?1?!?! And per the Ramsey plan... your goal is to get to the point where you have NO credit score (because you don't owe anyone money/have any loans). So if you do that then you will not qualify for any credit cards (I assume)... This is all thought provoking. Thanks FFM! 🙂
I did Ramsey 12 yr ago and the goal is to have no credit debt (credit card or any loans, except mortgage) NOT 0 credit score, just wanted to clarify.
Even without credit cards or loans, the credit agencies they still keep track of your credit score (if you pay bills on time; Unused payed credit cards history is still on file for like 10 years) hope it helps😊
Thanks!
I’ve been waiting for you to do this video. :-)
I have done the cash rewards and cash sign up bonus stuff but I want to learn about the miles cards. Thx.
Like how do the mileage points actually work is what I wanted to know.
Let’s say I get a card and there’s 50k points. How many miles is that really 50k miles and how do you spend them?
Super confused. Thx.
late to this travel hack game with cc's... why cancel the cards if you don't intend on really using them much? won;t. that lower your credit?
my question is how much is a ticket with points. i dont fly often so i dont know how this points thing works. how much will 80,000 points get u for a ticket. i understand the different rates for airlines and places but an example would be helpful. like lets say chicago ord to lax a regular ticket on american would be *xyz* and a ticket on points would be comparable to how many points. does that make sense? thanks in advance
Doesn’t that hinder your credit score to cancel and close the credit card Christine????!!!😮
Would they ever flag you? Would they ever not allow you to do it a second time?
where I live there isn't bery good deals on credit cards and points but I do the same thing with our Home Loan......Can't tell you what it is otherwise everyone will be doing it. Your banks have to oer this deal too.
I'm curious about the card cancelling. I've always heard that you shouldn't cancel credit cards because having credit cards open increases your credit availability (assuming it is getting paid off each month), which can improve your credit score. I'm curious of your thoughts on this. Love the financial content!
I was also wondering about canceling and opening other credit cards. Also, what if you circle through all the cards and want to re-open the cards you canceled?
I would love to see your planning for how to spend these points... Do you plan your trip first and then churn to earn miles or do you churn and THEN plan?
Instead of cancelling the CC you can just downgrade the card to a no annual fee card. It is better for your credit score then to cancel.
How exactly does the whole redeeming mileage points process work?
I’ve doen the sign up cash and cash rewards cards but the point stuff is confusing.
How do you use them?
Someone please explain.
That’s what I was hoping this video would include.
When you cancel the cards does this not hurt your credit?
That’s my same question. Hopefully , someone can answer that
Do you have to have a plane trip in mind before you do this? I was thinking American Airlines but I don’t have a place to go yet
Usually not, I just accumulate and decide later.
When you cancel the card, doesn't that mess with your credit score?
Not if you have a long credit track record like Christine has. IF you have significant available credit on other cards, it lengthens one's credit history by eliminating the newest card.
Have you had cards try to pull back points if you close within a year?
Doesn't canceling cards hurt your credit score?
Any Australians know how to make this work! I think it’s more monopolised by Qantas and their frequent flyer points
not really no. we have our credit card with macquarie and it’s a qantas rewards card. expensive but worth it. as you say, qantas has a monopoly on the market so it’s hard to get a great deal when there’s hardly any players in the field. we just stick with the one card and accumulate a ton of points. we’ve flown a heap for free and regularly upgrade to business (for the whole family) for next to nothing. we basically live off our credit card then pay the balance every month in full. so all the points and zero interest. i’m yet to find a better way to do it.
hey christine, unrelated to this video, but would you ever give us a tour of your home gym? would love to see what you’ve got and your equipment and how you use it for your workouts.
What are your thoughts on store credit cards? I have a Lowes credit card that saves 5% on purchases (basically the tax) but I literally put the purchase on the card and immediately pay it off at the same register. Do you have any experience with Amazon or Walmart cards?
Lovin it ❤
Yea, but closing cards hurts your credit. Is that why you alternate between you and your husband?
If you don't plan to use your credit for a big purchase in the next year and a half, doing this is okay.
Intrigued. Are all these cards business cc or personal cc? I'm one year out from Ch7 and rebuilding my credit. I've been able to get a couple cards and spend a little and pay off. Not allow myself to get in a bad place ever again. A lot of bad finances is money issues but also mind, anxiety issues etc .
@Wordofhope as someone 1 yr out of chapter 7 bankruptcy should definitely Not try this approach. Financial success is 80% behavior based and 20% math.
@@truthseeker6370 totally agree. I definitely would not. It was just interesting to see. I completely understand. I was also left a single parent with a lot of debts and barely making 20+ years until I couldn't anymore. Starting over at 50 is hard but it's going well so far 🙏🏻
What happens if you don’t hit the spending threshold? You just don’t get the points?
correct
But when you keep on canceling your credit card you are hurting your credit score tho…….
Does it hurt your credit to cancel cards?
By now there have to be rules against cancelling cards after a short while. No? LOL I mean... Back here in Belgium there are villages and towns that no longer have cash machines due to all banks wanting people to only go digital, except they force this on us, we rank lowest on the scale of ATMs in this country. And banks don't even want to admit they are in the wrong. You could never do that with a card here. Ever.
There are considerable advantages to being a country where 50 states agree on many of the same processes. We do not pay for fraud protection, we don't buy life insurance for our credit card balances - much more. We don't know how lucky we are.
Do you ever run into black out date issues?
Not so far!
On average how many points do u need for a plane ticket ?
I was wondering the same thing.
does the short lived credit cards not affect your score? I thought your credit history was averaged rather than just based on your longest credit account.
I believe it averages your open accounts, so your closed ones are excluded
@@Julia-uw7fp oh good. Thank you
In general how many points is it for a plane ticket?
It depends where you go and when, just like different airline prices based on location and time.
For the ones with no annual fees, do you have to cancel them for this process to work? Wouldn't you continue to earn points?
How often do these miles, etc usually last? Can you save them for years? Especially the travel ones. We have a little guy so won't be traveling much for awhile so I've been doing points to redeem for gift cards.
Points generally do not expire if they are a transferable currency (ie Capital one points, Amex membership rewards points, Chase ultimate rewards points) The don't expire but they do lose their value. Airlines are constantly updating their award charts. You might be able to get a flight this year for 10,000 points but in a few years it could change to 40,000 points. I would wait until you are closer to traveling again before you start to earn your points. Just know that if you earn the points and do not redeem the points and cancel the card, the points are gone.
@@thebudgetlifestyle1656 Yea see that's my problem with the whole "point" thing. How much is that actually? Like you said, you go to buy tickets, can you buy 2 or only 1? You have no idea until you've already done it. So it's tough.
Good to know!
@@loveGG3 I would suggest following some dedicated traveling hacking bloggers/instagramers to get a better feel for it. But just as an example, I just flew from New York to Frankfurt in Business class on Singapore airlines for 72,000 points I transferred from Chase Ultimate Reward points which I got with one CC sign up bonus. The value of that ticket was $1800. That roughly equates to 2.5c per point which is a good redemption
Yeah I’ve done the cash rewards cards and sign up bonus cards for cash but I’m so confused on the travel points cards. How exactly does it work?
How many points to you use for a flight?
I've done one way flights for as low as 6000 points each.
How does this affect your credit score?
She covers that. It does impact your credit score some. She knows that but she's not going to be applying for a mortgage so it's not a problem.
If done correctly it will actually raise your score in the long run. That is because you will have a lower spend to credit limit ratio. You will get a temporary ding to your credit score right after you get a new card but it will rebound in a couple of months. I have been travel hacking/CC churning for a few years and my score is better than before I started. ( I do it at a higher pace than she does though)