Actually, it’s not, but that doesn’t mean it’s for everyone.
How Travel Hacking Works
Before you jump into these deals, it helps to understand how the process actually works so you can decide if it’s really the best option for you.
You sign for the card and many times there is an initial bonus along with a limited time offer of extra rewards if you use their card. Sometimes, you can get a huge amount like 50,000 points plus double your earnings the first three to six months.
Why are banks, credit cards issuers, and travel companies so generous with these bonuses?
Simple. It’s because they expect to make money from the majority of the customers they acquire from the deals so be aware of that when you sign up.
However, if you’re looking to beat the pack and can navigate the rules they have in place, you can get a lot of fantastic deals and free travel.
Benefits and Traps of Hacking Frequent Flier Miles
Is this system for everybody? No, but it can be a huge pay off for those who use it systematically and for the sole purpose of maximizing their travel rewards.
Most definitely I would NOT recommend it to someone who currently has credit card debt.
Being a master with credit card rewards takes self-discipline and some amount of organization.
If you’re struggling with paying off your cards every month, you will only be hurting yourself.
Instead, I suggest paying off all of your high-interest debt and see if you can stay on top of things for at least 6 months.
From there you can test out and try travel hacking.
I don’t want you to put your finances in jeopardy.
Maximize Your Travel Hacking with a Community
If you think you want to try it out, there are plenty of places you can try out.
I tend to browse through Four Howur Work Week and The Art of Non-Conformity since Tim and Chris have traveled all around the world and are familiar with different deals.
Elle Martinez helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second..