Ever dreamed of jetting off to exotic locations and staying in luxurious resorts without spending a fortune? Travel hacking expert Megan Lanford reveals how to turn this dream into reality using credit card points. In this episode of INHABIT, we’ll explore how to transform your everyday expenses into unforgettable travel experiences.

The Power of Credit Card Points:

Megan Lanford, a stay-at-home mom turned travel hacking guru, has mastered the art of traveling on a budget. By strategically using credit card points, she’s gone from struggling to afford one vacation a year to taking over six trips annually, saving an incredible $20,000 per year. Here’s how you can do the same:

1. Understanding Sign-Up Bonuses:

The key to accumulating massive points quickly lies in credit card sign-up bonuses. Megan explains, “When you sign up for a credit card, you have to spend a certain amount of money in a certain amount of months to get that sign-up bonus, which is a large chunk of points.”

Example: One of Megan’s clients flew first-class to Naples, Italy, spending only $14 on taxes for a ticket that would typically cost $10,000 – all from one credit card sign-up bonus!

2. Responsible Credit Card Use:

Contrary to popular belief, travel hacking doesn’t mean accumulating debt. Megan emphasizes, “You are not accumulating any credit card debt. You’re actually extremely budgeting when you do this.” The key is to pay off your balance in full each month and only spend what you normally would on everyday expenses.

3. Choosing the Right Cards:

Start with cards that align with your travel goals. Megan recommends beginning with Chase cards due to their manageable spending requirements and valuable points. As you become more comfortable, you can expand to other card issuers.

4. Maximizing Points:

To truly maximize your points, Megan suggests opening a new credit card every 3 months (alternating between you and your partner if applicable). This strategy allows you to continually earn large sign-up bonuses.

5. Tracking Your Progress:

Use apps like Buddy for budgeting and Travel Freely to track your credit cards and point accumulation. These tools help you stay organized and on top of your travel hacking game.

Luxury Travel on a Budget:

With the right strategy, you can enjoy high-end travel experiences at a fraction of the cost. Some examples from Megan’s clients include:

• Staying at a $1,200/night resort in Positano, Italy for free
• Booking a Waldorf Astoria in Cabo that typically costs $1,500-$2,000 per night for $0
• Flying first-class to international destinations for less than the cost of a fast-food meal

Tips for Getting Started:

1. Start small: Begin with one credit card and a manageable spending requirement.
2. Stay within your budget: Only spend what you normally would on everyday expenses.
3. Put cards on autopay: Avoid late fees and maintain a good credit score.
4. Space out applications: Wait 60-90 days between new credit card applications.
5. Consider your travel goals: Choose cards that align with your preferred airlines and hotel chains.

Conclusion:

Travel hacking with credit card points opens up a world of luxury travel opportunities without the hefty price tag. By following Megan Lanford’s expert advice and approaching credit card rewards strategically, you can transform your travel dreams into reality. Remember to always use credit responsibly and within your means.

Ready to start your travel hacking journey? Download Megan’s free Travel Points 101 Guide and follow her on Instagram @pointstooparadise for more tips and tricks.

Listen Now

You can listen to the full episode on Apple Podcasts or on Spotify.

Have you tried travel hacking with credit card points? Share your experiences in the comments below!