A financial educator, who has been traveling using miles for ten years, explains how to maximize earnings in miles and loyalty points.
Credit card loyalty and mileage programs can be a way to secure a good holiday discount, among other purchases. The advantage of these programs is that they convert purchases that would have already been made into credits.
Renato Góes, Mileage Financial Education Specialist and Financial Influencer, explains how to best use the card to get the most out of its benefits.
For Goes, in the first place, It is important to know your credit card and register for its loyalty program, this is the first step to accumulate points and convert these points into miles: “If you are not yet enrolled in these programs, or your card does not have this option, you are missing the opportunity to convert an expense which would already take the form of an investment in miles “.
A tip from the expert is to start making all purchases and fixed accounts on the credit card, and anticipate the payment of the invoice amount: “In this case you are not spending more, you are just transferring the payment method, that would be charged, for a way that will generate the miles for you, which is via your credit card. the point here is choose the cards that give value to this relationship with the customer and offers the functionality to advance the invoice, for example. So, you just have to change the means of payment for an expense that you would have already done “.
Want to earn miles like an expert? Rodrigo Góes, who has been traveling with miles for ten years, tells how he himself earns miles: “I strongly believe in conscious shopping and that’s why I try to financial education and I try to earn miles, because for me it’s the smartest way to spend. Therefore, in the vast majority of my expenses I use the credit card “.
Góes says he uses debit or cash payment as an exception, when he has a very large discount in cash or cash, or if the venue does not accept credit cards: “If the purchase price is the same for payment by debit or on credit, my choice will always be to pay on credit and thus accumulate miles with an expense that is already included in my budget, ”he said.
How to choose the credit card to accumulate points and miles?
Rodrigo Góes explains that it is necessary to research which credit card and points program makes the most sense for your reality: “For example, some credit cards mark directly with the airline and therefore the expense is already transformed into miles. In others, you earn points on the credit card loyalty program and then transfer them to the airline’s program. In some cases this can be more useful, as the customer can take advantage of bonus point transfer programs. This is a promotion that occurs on a recurring basis across frequent flyer programs. With this you can increase your total balance in many cases has promotions with a bonus of up to 60% in addition to the transfer“, he has declared.
When is it worth paying for a card to participate in loyalty programs?
“Here we have a few points to consider when it comes to the credit card annuity rate. First of all, in many cases, you can negotiate with the bank, get a discount on the annuity, if you have a relationship with the bank, with investments, insurance, you can also bring this annuity to zero, then it is worth negotiating. Goes said.
So, it pays to get information from the financial institution you already have a relationship with.
Those who do not obtain this annuity discount must take into account how much they are generating in miles and benefits compared to the annual fee.
In this case it may be interesting to make an account directly with an interesting airline for the customer’s travel plans, for example to obtain miles and to have the possibility of having free companion tickets, which compensate for the payment of the subscription to the program.
Source: Terra
Benjamin Smith is a fashion journalist and author at Gossipify, known for his coverage of the latest fashion trends and industry insights. He writes about clothing, shoes, accessories, and runway shows, providing in-depth analysis and unique perspectives. He’s respected for his ability to spot emerging designers and trends, and for providing practical fashion advice to readers.
