There is a particularly understated joy in finding different life hacks that improve our quality of life. Perhaps this is why I find myself fascinated with Pinterest: at my fingertips is a comprehensive list of items and activities that can improve my overall quality of life.
With a little cleverness and creativity, life hacks are not simply limited to making the perfect holiday-season casserole, or using all of my leftover wine corks to create a festive wreath. By understanding how to put good credit to work, you can take creative control of your cards for more opportunities to earn points and miles. Here are three hacks every traveler can apply to their current strategy.
Put Extra Money Down
With the holiday season winding down, many frugal travelers are looking towards their next adventures in 2017. In order to fund those trips, many of us will be turning to our favorite points and miles currencies to help us get there, which may require the addition of new cards to our arsenal. Before starting those applications, now may be the perfect time to put a little extra money down on those pesky long-term balances.
Why add an extra payment before a round of credit card applications? The way credit is being reported is changing, with some banks adding payment history to the traditional credit decision factors. By adding an extra payment (over and above the minimum), creditors may look more favorably on those applications, increasing your chances to get that credit card. When it comes to high-value applications, including the Chase Sapphire Preferred (which offers the equivalent of $625 in travel after a $4,000 minimum spend in three months), anything to help your standing gets you that much closer to your next adventure.
Buy Instead of Fly to Maximize Miles
As opposed to flying, one of the easiest ways to earn points and miles involve being smart about managing our spending through our favorite cards. Through creative spending and maximizing point bonus categories on our favorite cards, frugal travelers can get a lot closer to their next adventures.
While it may not be a new lifehack, smart travelers who are making purchases often compare prices online and through points malls before making a purchasing decision. Through buying at the best price through a points mall with bonus miles, or purchasing a gift card at a grocery store to maximize a points category, frugal travelers can continue to build up points quickly through the things they already buy on a regular basis.
The Payment Shuffle
For those travelers who want to use their resources to pay off other balances, why not ask your credit card company to switch a payment date? Even the best shoppers may find themselves a little behind as a result of the holiday season. By being generous to others with gifts and earning points, anyone can find themselves spending a little bit more than they anticipated, leaving a trail of credit card bills in their wake.
By moving a payment date back (or forward, depending on your needs), travelers can change around how they make payment to their needs. As a result, frugal travelers can get ahead on higher balances, while moving lower balances around to keep their bank balance in a healthy and happy place.
When frugal travelers put their credit to work, the results can pay for themselves several times over. By knowing and applying each of these lifehacks, every traveler can use their credit to their advantage and earn points towards seeing the world at a low overall price.
How do you lifehack your credit to build up points and miles? Share your best tips in the comments below!
Written by Frugal Travel Guy @ http://www.frugaltravelguy.com
Written by Frugal Travel Guy @ http://www.frugaltravelguy.com