Let’s face it. No one likes sitting in the middle seat in row 53 near the bathrooms on a 12-hour flight to Asia. There is a better way to travel, and it doesn’t have to cost you a lot. With some planning and strategic points/miles accumulation, you can travel nearly cost-free in a luxurious lay-flat business or first-class seat. Many physicians feel overwhelmed by the idea of planning trips, and resort to using travel agents or picking the cheapest and/or quickest option, without considering that with a little bit of homework, you can travel comfortably for a very low cost. Here are some tips to get started:
Understand your travel needs. Is loyalty to an airline or alliance important?
The points and miles game is highest reward when traveling and booking internationally in business or first class. You should not consider airline loyalty for these bookings. However, for those who travel exclusively domestically, there is an incentive in having loyalty to an airline in order to accumulate status or points that can provide (some) perks when traveling domestically — for example, the ability to choose seats, get upgraded automatically, and check bags for free. This is only relevant for those who expect to travel significantly and should not be chased for the sake of status. Unfortunately, many airlines have devalued their loyalty programs, so it has become increasingly difficult to get automatic upgrades or perks even at the highest status levels. The same applies for hotels — if you travel a lot, try to stick to one hotel chain so you can take advantage of loyalty program perks.
Plan ahead and work backwards. Where do you want to go and when?
This may seem obvious, but it’s important to pick a destination (or several you would want to travel to), and then research how many miles would be required to travel to this destination. Once you have that information, you can strategically open credit cards that will help you accrue the miles needed to book that trip.
Some credit cards transfer points across several airlines, so it is a good idea to have a few of these open at all times to accumulate points and build a base that you can draw from at any time. Examples include the Capital One Venture X and Citi Thank You Cards. Note that some of these do carry high annual fees, which may be waived for a year depending on your initial offer.
Credit cards are points gold mines.
There is a common misconception that opening too many credit cards for the sign-on points bonus will hurt your credit. Although it is one of the many factors that is looked at when assigning your credit score, it is one that carries the least weight. It actually can be to your advantage to have a high revolving credit balance as long as you pay the credit card in full every month and pay on time. This is NOT a viable option for those who are carrying debt, as affinity credit cards (i.e. credit cards linked to an organizational brand) carry very high annual percentage rates (APRs) (often 17%+).
For those looking to make the most of their points earned, look at maximizing a sign-on offer. Anything above 80,000 points is considered a good sign-on offer. Maximize the number of points earned by opening cards for your partner/friend/family member if planning to travel with others. You can often also get a referral bonus.
Maximize “double or triple” stacking offers.
If you are planning a large purchase, many airline portals will offer multipliers for purchasing at certain retailers if you click through their website. For example, let’s say you want to buy a designer bag for $1000. If you go to the store and use your credit card, you’ll get 1000 miles/points for that in-store purchase. However, let’s say the American Airlines (AA) shopping portal is offering a 10x multiplier for shopping through a big department store (e.g. Neiman Marcus, Bloomingdale’s, Saks Fifth Avenue). In this case, if you use the AA shopping portal to make the purchase though the retailer’s site offering the multiplier, you will receive 10x bonus miles. This would get you 10,000 AA miles on top of what you will receive through the credit card. Your credit card may also offer additional incentives, and if you are lucky, you may have an additional promotion or multiplier on the same brand. So, with just a few extra clicks (and no visit to the actual store), you can receive at least 11,000 miles instead of the 1000 miles you would have received if you purchased in store or outside of the portal with the same credit card.
Certain cards offer 4-5x multipliers for hotels, restaurants, and grocery stores. This is a huge opportunity to also maximize points. Offer to pick up the tab if eating with a large group or paying for a work event. Miles will add up quickly.
What are good starter credit cards?
There are two general points categories — the first is credit cards that earn points in a specific airline program (e.g. United, Delta or American). A basic credit card in the program that you travel frequently with is a good idea to unlock certain perks, like free checked bags and priority boarding.
Depending on your credit score, the best types of cards are those that have transferable points currencies. Two cards that have a lot of value in this regard are:
Amex Gold Card: You earn 4X for restaurants and other categories and there are a number of perks that come with the card. The fee of $395 per year is offset by these perks, like a monthly Uber credit and a yearly Resy credit. These points transfer to a wide variety of airline and hotel partners.
Chase Reserve: Similar to the above, Chase Reserve and Preferred Reserve offer an extremely flexible transferable points “currency” to a wide variety of partners.
Note: When applying for cards, do take into account that many programs limit signups to a certain number of credit cards within 24 or 48 months. When starting out, this is usually not much of an issue, but it’s something to keep in mind if you take on the points hobby more seriously.
So, you’ve accumulated a good nest egg of points; now how do you find good value?
Everyone values points in different ways — but I still believe the most bang for your buck is in international business and first-class travel. These award tickets offer an outsized value relative to the costs of purchasing these tickets (and it’s fun to travel this way!). There are several places to search for value across airline websites and third-party sites. You may find that the best value comes from booking through an international airline partner or in selecting dates that are far in advance or close to your travel dates. There are several websites that can guide you through this process. Some of these are listed below:
Point Me to First Class (Facebook group for women physicians)
Boardingarea.com
Thepointsguy.com
Expertflyer.com
Getting started with points and miles doesn't require becoming an expert overnight. By identifying your travel goals, strategically opening a few transferable points credit cards, and taking advantage of sign-on bonuses and airline portals, you can realistically reach a business or first-class seat on an international flight with minimal out-of-pocket cost.
Dr. Kia is an associate professor of medicine at Northwestern University, Feinberg School of Medicine in Chicago.
She reported having no relevant disclosures.