If there’s one thing you should do before you start gathering points and miles, it’s make sure you have a goal. That goal will be different for everyone. Some people might want to travel in business or first class for the first time ever. Others could be looking for a way to make their honeymoon or anniversary trip one that they’ll never forget by staying at a fancy resort for a week. Or maybe you want to take the entire family on vacation to Orlando and need to save some money (because theme park tickets are so expensive).
For each of those trips, it’s necessary to earn different types of reward points. Whether it’s hotel points, a flexible point from a bank that’s transferable to various programs, or even a card that earns cash back, all of them are useful for different kinds of travel. The points can also be useless if you choose the wrong type for your needs. A cashback card isn’t going to get you a first-class ticket. Well, not in most cases.
Goal setting isn’t easy. You have to sit down and decide what you want. A simple way to think about your goal is to break it down into three questions.
Questions To Ask When Making A Goal
- Where do you want to travel?
- How would you like to get there?
- Where do you want to stay when you get there?
Do you want to take your whole family to Hawaii in economy class to stay at the Disney Vacation Club timeshare? You’re going to focus on ways to get airfare that usually has plenty of award availability in economy class.
What if you want to take that bucket list trip to Southeast Asia in business class? Focusing on earning miles with an airline that partners with other airlines flying in the region, like Star Alliance members, will make your trip a possibility.
If you want to travel to London and stay at the St. Pancras London Hotel, you’ll have to collect Marriott Bonvoy points.
Sharon and I try to have at least an idea of our travel goals for the next 1-3 years. Because my job requires me to submit vacation requests, I’m forced to plan our trips for the following year by November.
In some years, we’ve redeemed fewer points than usual, so I’ve ended up with a large balance that could cover trips for several years.
Don’t Plan Too Far Ahead
It’s also important to know, if you are collecting points or miles, you can’t look too far out because the airlines and hotels can devalue points without notice. By devaluation, I mean a program increasing the number of points or miles required to redeem an award. In recent years, major programs have increased award prices with little or no notice.
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If you’re lucky, a program will give notice about any changes and let you book at the old prices for a while, but sudden changes are becoming more commonplace. When setting a goal, make sure you can earn enough points to take a trip within a reasonable amount of time.
Beware Of The Unattainable Goal
When setting a goal, you need to make sure that the miles you are earning are for a reward that’s going to be possible to redeem. Say that an airline offers the trip you want for 50,000 miles, but they only release seats at that price for 2 days of the year. Unless your schedule is extremely flexible, those miles are useless.
Once You’ve Met Your Goal, Then It’s Time to Diversify
As I mentioned, once I had enough miles and points for our planned trips, I began stashing balances with the major U.S. airlines (Delta, American, and United) and collecting flexible points like Membership Rewards and Ultimate Rewards. I also keep a healthy amount of Southwest miles for domestic travel. I even applied for my first true cashback card.
This strategy has paid off when plans change unexpectedly. For example, when we scored tickets to see Harry Potter and the Cursed Child in New York, I was able to make the trip happen thanks to having the right miles ready to use. Here’s how that worked out.
Final Thoughts
When you’re getting started with points and miles, it’s crucial to know exactly why you’re earning them. Working toward an undefined goal can leave you with the wrong type of points or miles when it’s time to book your dream trip. By setting a clear objective, choosing the right rewards to match it, and adjusting your strategy once you’ve reached that goal, you’ll be prepared for both the trips you’ve planned and the opportunities that pop up unexpectedly.
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