77. New to Points and Miles? Start Here! Your Beginner's Guide to Points & Miles in 2024

Points Talk with the Travel Mom Squad

Alex, Pam and Jess

Places & Travel, Education, Society & Culture, How To

4.9 • 734 Ratings

🗓️ 21 May 2024

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ever wonder how some people manage to jet off on amazing vacations without breaking the bank? Today, we're spilling the secrets on how to start traveling almost free by harnessing the power of credit card points and miles. Whether you're a points newbie or just need a refresher, this episode is your passport to becoming a savvy traveler in 2024.

Hey, it's us, the Travel Mom Squad—Alex, Pam, and Jess! Grab a cup of coffee, and let's break down the basics of earning and redeeming points. It's way simpler than you think, and no, you definitely don't need to be rich or spend a fortune to start racking up those miles.

Here's what we're unpacking today:

The Real Scoop on Credit Card Bonuses: Learn how welcome offers work and why you don’t have to spend extra to benefit.
Choosing the Right Cards: We dive into why not all cards are created equal and how you can pick the best ones to start stacking up free flights and hotel stays.
Smart Spending: Tips on using your card like a debit card to avoid debt while earning points on every dollar you spend.
Annual Fees Demystified: Think of annual fees as an investment that pays off in free travel. We'll explain how the benefits far outweigh the costs.

We'll also share personal stories and simple strategies to get the most out of your cards without altering your lifestyle. Plus, we'll cover some common myths and mistakes to avoid, ensuring your credit score stays intact and your travel dreams soar.

Ready to turn your everyday spending into your next vacation? Let’s demystify the points game together. Hit play to dive into the world of points and miles and discover how easy it is to travel for nearly free. Share this episode with friends and family who dream of exploring the world without emptying their wallets!

Links For All Things Travel Mom Squad: stan.store/travelmomsquad

Episode Minute By Minute:

0:00 Intro: Alex introduces the basics of credit card points and miles.
1:11 Clearing Misconceptions: Jess discusses the reality of earning points without excessive spending.
2:46 Credit Card Bonuses: Pam explains how sign-up bonuses work and how to meet spending requirements wisely.
6:24 Long-term Strategy: Jess touches on the sustainability of credit card point strategies over the years.
9:10 Annual Fees Explained: Jess dives into why paying annual fees can be worth it with the right cards.
11:15 Cost-Benefit Analysis: Jess and Pam discuss how the benefits often outweigh the costs of annual fees.
14:18 Card Management After One Year: Pam explains options for managing your credit cards after the annual fee posts.
18:32 Pace Yourself: Jess emphasizes the importance of pacing in the credit card points game to avoid red flags with banks.
20:12 Credit Score Concerns: Alex addresses concerns about the impact of opening new credit cards on credit scores.
25:00 Types of Credit Cards: Jess explains the difference between co-branded cards and flexible point cards.
27:40 Two-Player Mode: Pam discusses how partnering up can maximize point earnings.
29:56 The Chase 5/24 Rule: Alex explains one of the most important rules in the credit card points game.

Transcript

Click on a timestamp to play from that location

0:00.0	If you're new to the show or a longtime listener who's been trying to get your family and friends
0:04.2	to get the gist of this whole earning and redeeming credit card points and miles to travel
0:09.3	for an early free thing, this episode is for you. Today, we're taking it back to the basics.
0:15.0	Welcome to Points Talk with the Travel Mom Squad. We are three moms who've discovered how to
0:19.9	leverage credit card welcome offers
0:21.6	to get hundreds of thousands of dollars of travel expenses for nearly free. We've used credit
0:27.1	card points of miles to take vacations to places like Hawaii, Paris, Greece, Maldives, Japan,
0:33.1	and so much more. And the best part, we each still have 800 plus credit scores. Imagine being able to
0:39.5	take the vacation of your dreams for nearly free. It's totally possible and we're here to show you how.
0:46.0	Hey, I'm Alex. And I'm Pam, Alex's mom. And I'm Jess. Let's talk points. It's been a while since we covered the basics of the points in
0:57.0	Miles game. So today we thought it was time for a refresher. There are some misconceptions out there
1:03.0	about opening credit cards and earning points for nearly free travel. So let's start out with what
1:09.5	this is not. So we are not opening a credit card, spending
1:16.7	tons and tons of money on them each month. We get a lot of people in our emails and DMs who say,
1:24.3	like, oh my gosh, you earned one million points. You must have spent one million
1:29.3	dollars. And that could not be further from the truth. We would not be successful in this if we were
1:35.5	requiring people to spend a million dollars to earn these points. The other thing is we aren't rich.
1:40.9	We don't have millions of dollars to spend. and that's why we got into this hobby.
1:45.3	If we had millions of dollars, we wouldn't need credit card points in miles. We would just pay
1:51.0	cash for all our trips, and it would be a drop in the bucket. So we're not rich. We don't have
1:56.7	millions of dollars. That is not how we're earning millions of points. In actuality, besides some
2:02.6	of the annual fees that we pay, which we're going to cover in a bit, and you're going to see that
	...

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