Even the most seasoned travel hackers have slipped up with their credit card rewards redemptions.
Even the most seasoned travel hackers aren't always perfect when it comes to redeeming their creditWhen it comes to optimizing credit card rewards to their fullest potential, a lot of math—and luck—is often involved. But newbies might find themselves making, which can defeat their purpose of being assets all together.
“When you upgrade an existing card account, there’s no bonus for you,” Rathner says. “That’s a lot I missed out on when I was younger and had a smaller travel budget.” Considering there are multiple options for points redemption, Grossman’s decision paralysis can be a common mistake. Redeeming points and miles is mostly a math game where calculating the best redemption values is key to success—but it’s also a game of luck.
Although the points and miles game is centered around spending the least amount of money as possible, paying for the convenience of someone else crunching numbers and finding the best reward trip for you might be worth it, depending on your willingness to spend time searching for awards and experience with various programs.
Adza adds that at the time, she and her husband were only Gold members in Starwood’s loyalty program. Now, they are both Platinum members and have seen first hand how valuable the higher tier of loyalty can be. For example, Platinum members have unique benefits that Gold members don’t have, like welcome gifts, 50% bonus points on stays and lounge access.
“The American Express Go Shopping portal is one of the worst ways to redeem points,” Jung says. “Most of the items listed give a valuation of 0.5 cents per point—half of what Chase is doing on the portal. Amex also has promotions where they reduce the point cost estimate, but I have never found it to be as valuable as transferring points or still using it for travel.”
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