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Miles and Points 101 (Ep.28a)

UPDATE: COVID-19 has played havoc with travel and this has left many of you with cards and points you haven't been able to use - and now the annual renewal fees are hitting. Thanks to Raul for turning me on to this article in MONEY magazine, talking about some of the strategies you might consider with those cards...

Now on to the episode:

This week is our opportunity to take a deep dive into the subject of credit card and loyalty program miles and points! If you want to fly as much as you can for as little cash as you can, this is the episode for you.

My guest is Brandon Neth, social media and audience growth guru for FinanceBuzz.com. I first heard Brandon on Danielle Desir's "The Thought Card" podcast and thought he was absolutely brilliant. Then I discovered his powerful Facebook Group called FBZ Elite - Travel and Points (private Facebook Group) and I was hooked on learning about this miles and points game. You'll find some valuable information here.

We'll talk about foundational information, how to get started, how to protect your credit, and maximize your points and benefits. And this is just part one. Next week, we'll talk airlines, hotels, car rentals, and other loyalty opportunities.

Subjects covered include:

  • Humble beginnings (doesn't require tons of money, just spending habits)
  • Brandon's journey: using a miles and points for a nomadic lifestyle through 76 countries
  • International works really well for the miles and points
  • How U.S. residents have a greater advantage in the miles and points game.
  • What is Neth-class?
  • Roughing it, the luxury class, or mid-level?
  • Could you never pay for a flight again?
  • Dave Ramsey, baby steps and getting out of debt
  • Developing good financial habits - only buy what you buy and don't carry a balance
  • Blowing through $100,000 before discovering financial literacy
  • The right way to open up credit accounts. Understanding minimum points.
  • The 5/24 rule (FinanceBuzz.com Beginner's Guide)
  • Points aren't all created equal: Transferable, Co-branded, Fixed Value
  • Business class transfered points could be up to 25 cents per point
  • Look at your situation and which work for you
  • Maxing out benefits of Chase for business owners
  • Justification for high annual fees
  • Added benefits of cards include savings on TSA PreCheck, Global Entry, travel insurance, baggage protection, airport lounges (Priority Pass), free food and drinks.
  • American Express and Delta SkyMiles companion fare vs Southwest companion pass
  • Which card to use where
  • Making sure you don't make a mistake.

Brandon's Full Explanation of Point Values


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