Here’s the thing: It’s possible to save and spend at the same time, if you can make smart use of your travel and credit card loyalty points. You just need to know how to maximize them.To maximize the value of your loyalty points, you need to figure out the cents per point first. To do this, you would use the following formula:This advertisement has not loaded yet, but your article continues below.
Also note that you’ll want to have a base value for comparison purposes too. Most loyalty sites value Aeroplan at 2 CPP and Marriott Bonvoy at .9 CPP. What that means is that if you find a redemption worth at least that much, it’s a good value. If the redemption falls below that threshold, you might be better off saving your points.If you collect loyalty points from a financial institution, you’ll have multiple redemption options such as travel rewards, gift cards, merchandise and more.
As for Aeroplan, the sweet spot comes with partner airlines since they use a fixed points program, as opposed to the dynamic pricing you find with Air Canada flights. If you’re able to find a reward seat on a partner airline, the points difference can be significant. Also, since Aeroplan uses a distance/zone rewards chart, there are a few natural routes that are favourable such as Toronto to New York and Vancouver to Tokyo.
That welcome bonus has a base value of $400, but if you transferred your points to Aeroplan, you could easily get a value of $800. The $100 annual travel credit effectively makes your annual fee $150 a year. As for the lounge passes, they have a value of about $40 each .
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