Credit Card Bonuses: Making Use of Your Travel Points
Did you know that credit card companies actually award travel points to their clients? Apparently, a lot of Canadians must have missed that information, because less than just 30 % of credit card holders in Canada use travel points they have accumulated to pay for their trips out of the country.
Statistics are up for expenses acquired by Canadians who regularly travel to foreign destinations. The number is staggering; for the first quarter alone of 2010, Canadians spend a collective $ 4.7 billion, according to surveys done by the Canadian Tourism Commission.
Few Canadian credit card holders even bother checking the number of travel points they’ve garnered every time they get their statements of accounts. Granted, it’s not at the front of one’s mind when checking out credit balances incurred over the past month, but it’s a lost opportunity, considering the large amount of money one can spend on an out-of-town excursion.
Keeping track—as well as making use of—your travel points is not as difficult as it seems.
Here’s an idea. If you’re planning to sign up for a credit account, make sure to check out their rewards program. Different credit companies offer different bonuses; some of them give you discounts on plane tickets, while others provide affordable hotel deals. Some programs allow you to avail of discounts after only a few months’ accumulation of points, whereas others make you wait a little longer before you can use your travel points on round trip airplane tickets.
If you’re currently subscribed to a company and are dissatisfied with their current points system, consider transferring to another rewards programs, as most companies have various bonus services for their clients.
Think ahead to when you might be able to use your points. The closer your vacation date is, the greater chances you have of making the most out of the points you currently have. Whether you decide to wait a little longer to allow them to accumulate, it’s definitely a better alternative to letting your travel points sit forgotten in a dusty corner.
