Congratulations! You’ve landed on the single most important article to help you maximize your travels. Whether you’re a student shopping for the right credit card, weekend traveler, or credit card connoisseur, this article will transform your perspective on the world of credit cards in Canada.
“SPEND LESS, TRAVEL MORE!”
It’s as simple as it sounds, my attitude towards new destinations, new experiences and new friendships isn’t complicated. The way I see it is this – everyone needs to spend money for something. However, the way money flows from your bank account to merchants can be the most powerful lever to maximize your opportunities.
Credit cards and rewards programs are the tools that will allow us to fly first class and stay in 5-star hotels for free. Here is a step by step guide on getting started.
Step 1: Show some love to loyalty programs and they’ll love you back
You can open loyalty program accounts for free! For example, if you live and/or work in Toronto, you’ll likely fly with Air Canada or Westjet at least some of the time, so signing up for an Aeroplan account makes the most sense. Depending on your travel frequency, destinations, and habits, opening accounts with Aeroplan, Delta, Westjet, and HHonors program will help you accumulate points every time you frequent.
Step 2: Choose the right credit cards with the right rewards
To help jumpstart your points balance, the easiest way is to sign up for the credit card with the best signup bonus and valuation per dollar spent. Here are 3 top travel credit cards in Canada to help you get started:
Step 3: Know your credit cards like you know your lover’s name
Be sure to keep a good credit history and payment schedule. This means to pay off your entire monthly balance or else the interest paid will negate any points accumulated. The rule of thumb is to only use cash for purchases when you absolutely need to. And always say yes to booking group travels, booking for friends allows you to quickly accumulate points towards first-class tickets or few nights at 5-stars, yes you’d have to collect payments from your friends, but you sure wouldn’t complain about sipping on the finest Krug above 33,000 Feet in a lie-flat seat.
Step 4: Set your vacation goal and achieve it
The question becomes: “Would you rather fly first class on Emirates or take two trips in coach on Jet Airways?”. Having a trackable goal in mind will help you stay focused on the points and miles hobby, it sure can be your strategy to opening rewards credit cards, earning miles, and redeeming them in the most worthwhile way. From Beijing, to Amsterdam, to London, to Mexico, I have used my Amex points to travel to places in ways I never imagined.