People who know my family in real life think we’re a bit nutty because we travel so much. Some think that because I write on a blog that I get to travel for free. That’s not true! I just know how to earn and use miles and points through credit card rewards.
I rely on big sign-up incentives offered by banks to open a new credit card. Those offers usually yield 50k-100k miles or points for free travel. To get the bonus, most offers require you to spend a set amount of money on the card during the first few months. Usually, that amount is $2k-$5k.
My husband and I each open a few new credit cards a year for these bonus points. We also put all of our monthly spending (gas, grocery store, utilities, kids’ activities) on credit cards. The important part is we pay off our balances in full every month so that we don’t pay interest on our purchases.
Some people are hesitant to open a new credit card just for miles and points. Maybe they’ve been using the same credit card for many years. Or, maybe they think they can’t charge enough expenses to reach the bonus.
The last few months of the year is really the best time to open a new credit card.
Why Now?
Expenses are Higher: Most families spend more money than normal during November and December. Holiday gifts and holiday travel can really add up. In addition, property taxes are a large chunk for those who don’t use an escrow account. Hopefully you have saved for these extra expenses. If you have, it makes sense to charge them on a new credit card for the bonus rewards.
Timing for the Southwest Airlines Companion Pass: When you earn 125,000 Southwest Rapid Rewards points in a year, you can get a Southwest Companion Pass. This pass allows you to bring a companion with you for free on all of your Southwest flights. If you earn the pass towards the beginning of the year, it’s valid for almost two years. Opening a new credit card that earns Southwest Rapid Rewards points now can put your in a good position to earn that Southwest Companion Pass in early 2022. See my post here.
Seize the Day
If the past few years have taught me anything, it’s that there’s no time like the present. Tomorrow is not a guarantee.
If you’ve been thinking about traveling somewhere that seems out of reach due to the cost, consider using miles and points to make the trip affordable. If you’re unsure of which credit card is best for your travel goals, feel free to send me an email at nancy@milesforfamily.com or look at our list of credit card offers here.
Author: Nancy
Nancy lives near Dallas, Texas, with her husband and three kids. Her favorite vacations include the beach, cruising and everything Disney.
We have all been there. The credit card sign up bonus is so enticing, but the annual fee looms in the distance and puts a damper on our enthusiasm for getting a new card. Now might be just the time to go ahead with that quest though because now you can earn free travel rewards without paying an annual fee at all!
@b2bleadwings Yes, many cards don’t have an annual fee.