Years ago, when I first began optimizing my credit card rewards strategies, I opted to focus on cash back credit cards. At the time, I assumed that award travel would be more complicated and less flexible, and I wanted a simpler solution.
However, since then, I’ve come to realize how wrong I was. The benefits of award travel far outweigh the complexities. Sure, it might be a bit daunting to figure out at first, but the rewards can be massive.
If you’re trying to up your rewards game and are wondering what all the fuss is about, you’ve come to the right place. I’ll outline the pros and cons of award travel, so you can see for yourself how the challenges and prizes stack up.
Pro: Premium Experiences at a Fraction of the Price
Let’s get the obvious one out of the way first: you’re here because you’re awesome, and you want to do awesome things with your life. Award travel opens doors for incredible opportunities that would otherwise be unrealistic for most of us.
Let’s take a one-way flight in ANA First Class from North America to Asia. This can be booked for as few as 110,000 Aeroplan points, which can be earned with a single welcome bonus from a premium Aeroplan credit card, plus a $599 annual fee.
In this case, the cash cost for a First Class award flight is cheaper than an economy ticket!
Alternatively, with a cash booking, you could book the same route for thousands upon thousands of dollars. Even if you can afford it, you’d be foolish not to pursue the same booking with points instead.
The value isn’t only found at the highest of the high-end redemptions, either. You can achieve similar experiences on many business class redemptions that will still knock your socks off.
Once you get to your destination, luxurious hotels await, where points bookings are much more achievable than cash prices.
If you’ve ever wanted to visit a decadent desert oasis paradise, the Al Maha Desert Resort Dubai is tough to beat. The resort offers high-end dining and two complimentary activities per day, all included in the price of your room. But even in low season, a five-night stay will set you back nearly $6,500 (CAD).
Instead, you could pay 368,000 Marriott Bonvoy points for the same incredible all-inclusive package.
With a few welcome bonuses and less than $1,000 in annual fees, you and your partner could…
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