Big Travel with Small Money

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Daraius Dubash presentation at 2012 LA FTU.

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Big Travel with Small Money

  1. 1. Web: www.MillionMileSecrets.comEmail: daraius@millionmilesecrets.comTwitter: @MilMileSecretsFacebook: facebook.com/MillionMileSecrets
  2. 2. Daraius“Duh-Rye-Us”
  3. 3. The Next 1 Hour- Why Collect Miles & Points?- Stuff Nobody Talks About- Earning Miles & Points- Using Miles & Points- Questions?
  4. 4. Million Mile Secrets Big Travel. Small Money.
  5. 5. Why Collect Miles & Points?Big Travel with Small Money - Save money - Have experiences you can’t afford - Save time/less stress for frequent travelers
  6. 6. Visiting Emily’s Grandma $600 Flights!
  7. 7. Jet Airways First Class Suite $10,000!
  8. 8. Flying to London to Propose to Emily! $5,000!
  9. 9. Thai First Class Massage
  10. 10. Escorted Through Airport
  11. 11. A $1,000+ Suite in Bora Bora
  12. 12. The Iguacu Falls to Ourselves for 4,800 SPG + $90!
  13. 13. Save Time
  14. 14. Why Collect Miles & Points?- Experiences Last Forever- Memories with Families & Friends- Save Money & Time
  15. 15. The Next 1 Hour- Why Collect Miles & Points?- Stuff Nobody Talks About- Earning Miles & Points- Using Miles & Points- Questions?
  16. 16. Stuff nobody talks about
  17. 17. My Goal
  18. 18. Travel for 2?
  19. 19. Family of 4?
  20. 20. First Class?
  21. 21. Or Coach?
  22. 22. Good Credit?
  23. 23. Earn Miles From Business Travel?
  24. 24. Set a GOAL for YOU!
  25. 25. Stuff nobody talks about - Ethics
  26. 26. Know your limits
  27. 27. Always someone with more
  28. 28. Lots of Grey Area
  29. 29. Front Page Test
  30. 30. Organization Is Key!
  31. 31. Get Organized Or…
  32. 32. Award Wallet ForTracking Miles & Points
  33. 33. Yodlee or Mint for Credit Cards
  34. 34. Tips to Stay Organized - Pay Bills Online - Set Outlook/I-Phone/Notes Reminders - Excel Spreadsheet to Track •Sign-up/Cancelled/bonus received/spending
  35. 35. Things WILL Go Wrong
  36. 36. How You React Matters
  37. 37. Know When To…
  38. 38. Sometimes “Good Enough” is Enough
  39. 39. Nothing is Certain
  40. 40. Hang Up & Call BackPolitely
  41. 41. My Wonderful Wife!
  42. 42. Double the Miles & Points
  43. 43. Stuff Nobody Talks About - Trade-off- Trade-Offs - Be aware of time invested - Flexible travel dates and routings
  44. 44. Stuff Nobody Talks About – Bonus!- Should I collect miles in all programs or just 1? - Flight miles in 1 program - Collect non-flight miles in ALL programs- Don’t forget hotel points- Hotel elite status could matter more- Earning is easy. Redeeming is harder!
  45. 45. The Next 1 Hour- Why Collect Miles & Points?- Stuff Nobody Talks About- Earning Miles & Points- Using Miles & Points- Questions?
  46. 46. Earning Miles & Points- Credit Cards- Debit Cards- Shopping- Dining- Banking/Investing- Promotions- Asking nicely!- Partners- Flying
  47. 47. Earning Miles & Points – Credit Cards The EASIEST way to earn hundreds of thousands of points
  48. 48. Earning Miles & Points – Credit Cards 1 MILLION+ miles/points in 2011 from 16 credit cards!
  49. 49. Only 240,000 Miles to the Moon
  50. 50. My Credit Score
  51. 51. Do NOT Apply for Credit Cards If You…Have amortgage in thenext 2 years
  52. 52. Do NOT Apply for Credit Cards If You…Can Not pay your balance inFULL each month
  53. 53. 3 Types of Credit Cards 1) Transferable Points 2) Airline/Hotel Cards 3) Cash Back
  54. 54. Types of Credit Cards -Transferable1a) Chase Ultimate Rewards
  55. 55. Types of Credit Cards - Transferable1b) American Express Starwood (SPG)
  56. 56. Types of Credit Cards - Transferable1c) American Express Membership Rewards
  57. 57. Types of Credit Cards – AirlinePerks : - Free bags - Priority boarding - Less miles for redemptions
  58. 58. Types of Credit Cards –HotelCould be worth paying fee for: - Free night certificates - Elite Status - Discounted award redemptions
  59. 59. Types of Credit Cards – Cash Back- 1 to 2% on purchases- ~5% on categories- Easy to understand- Good for coach travel- $5,000 business class ticket = $250,000 spending- $80,000 spending on AMEX SPG = 100,000 AA Miles
  60. 60. Earning Miles & Points – Credit Cards- How it works - Sign-up for card and get sign-on bonus (25K to 100K) - Usually have to spend a minimum amount $3,000 in 3 months - Then what?
  61. 61. What is theaverage householdincome in the US?
  62. 62. $50,000**2010 US Census
  63. 63. Earning Miles & Points – Credit Cards - Spend everything you earn, you’ll get only 50,000 miles/points - Pay-off is with the SIGN-UP BONUS, NOT everyday spending
  64. 64. Earning Miles & Points – Credit Cards- Churning is key! - Get same card again (YMMV): -
  65. 65. SpendingSpending on Cards with no/low NET cash outflow - Amazon Payments $1,000 per month free
  66. 66. SpendingSpending on Cards with no/low NET cash outflow - Vanilla Reloads & Bluebird
  67. 67. SpendingSpending on Cards with no/low NET cash outflow - William Paid for Rent - Charge Smart for loans Pre-Paid Cards - Wells Fargo (Don’t use Citi & BOA) - US Bank Visa Buxx - ALWAYS check for cash advance fees
  68. 68. Will my credit score go down?
  69. 69. 3 Credit Bureaus FICO Score Range: 300 to 850
  70. 70. Credit Score
  71. 71. Free Credit Score
  72. 72. How Many Cards? Do what you’re comfortable with
  73. 73. Earning Miles & Points – Credit Cards- Business Cards - Don’t need an established business - Selling stuff on ebay etc. - Use SSN as Tax ID number- Reconsideration - Call and ask to move credit lines to get approved for new card- Churning Strategy - Each bank will pull credit report from a credit bureau - Goal is to apply for cards with mix of 3 bureaus - In NJ most pulls from Experian- Retention - Citi great at offering incentive to keep card
  74. 74. Earning Miles & Points – Credit CardsBest Deals (Sign-up Bonus):- 2 Citi AAdvantage cards for 50,000 miles each - Use 2-browser trick - 100,000 miles = Business Class to Europe/South America
  75. 75. Earning Miles & Points – Credit CardsBest Deals (Sign-up Bonus):- 2 Chase Southwest cards for 50,000 points each - 100,000 out of 110,000 points needed for Companion Pass-Chase United Explorer - 55,000 miles after $2,000 within 3 months + $50 credit
  76. 76. Earning Miles & Points – Credit CardsBest Deals (Sign-up Bonus & Spending):-Chase Sapphire Preferred - 40,000 sign-up bonus, 2X points on dining/travel, no forex fees, TRANSFERABLE to United, Hyatt, British Airways, Southwest etc.-Chase Freedom - 10,000 sign up bonus, but 5X points on certain categories (gas, groceries, etc.). Points transferable to hotels/airlines if you have Chase Sapphire Preferred.- Chase Ink Bold (50,000 Points)- AMEX Starwood Preferred
  77. 77. Category Bonuses- 3X Airfare on Premier Rewards Gold- 2X on Travel/Dining on Chase Sapphire Preferred- Usually not worth it - $175 Annual Fee - Do the math- Chase Freedom 5X with No Annual Fee
  78. 78. Earning Miles & Points- Credit Cards- Debit Cards- Shopping- Dining- Banking/Investing- Promotions- Asking nicely!- Partners- Flying
  79. 79. Debit Cards- Suntrust Delta – 1 mile per $1- Bank of America Alaska Air – 0.5 mile per $1- UFB Direct – American Airlines - 0.5 mile per $1
  80. 80. Earning Miles & Points- Credit Cards- Shopping- Dining- Banking/Investing- Promotions- Asking nicely!- Partners- Flying
  81. 81. Earning Miles & Points – Shopping
  82. 82. 10X on Nordstrom Via Ultimate Rewards Mall -
  83. 83. Use Evrewards.com to FindBest Deal -
  84. 84. $1 purchase keeps milesfrom expiring
  85. 85. Earning Miles & Points – Dining
  86. 86. Earning Miles & Points – Dining- Airline & Hotels have dining programs- Sign-up for each and add your card online- Earn miles for every time you dine- Won’t go out of my way to eat…
  87. 87. Earning Miles & Points – Banking- Bank Direct •100 AAdvantage miles for every $1,000 up to $200,000 •25 AAdvantage miles for every $1,000 after $200,000
  88. 88. Earning Miles & Points – InvestingFidelity Brokerage Accounts •United, AA, and Delta
  89. 89. Earning Miles & Points – Promotions - Social Media - Email Sign-ups - Watch a video - Hotel/Airline Promotions
  90. 90. Earning Miles & Points – Asking Nicely - Credit Card Retention Bonuses - Goodwill Adjustments - Providing Feedback
  91. 91. Earning Miles & Points - Partners - Car Rentals - Hotels - Flowers - Magazines
  92. 92. Earning Miles & Points - Flying- The old-fashioned way!- Two types of miles - Elite & Redeemable- Usually 1 mile per flown mile- Earth’s circumference is 25,000 miles- More miles in First or Business Class (50% to 100%)- Elite miles earn status which gets you perks - Very valuable for frequent traveler
  93. 93. Earning Miles & Points - BlogsRead Different Blogs- Million Mile Secrets- View from the Wing- Frequent Miler- MileValue- One Mile at a Time- Wandering Aramean- Others
  94. 94. The Next 1 Hour- Why Collect Miles & Points?- Stuff Nobody Talks About- Earning Miles & Points- Using Miles & Points- Questions?
  95. 95. Using Miles & Points- Airline Availability- Hotels- Transferable Points
  96. 96. American Airlines Partners
  97. 97. Airline Availability- Airline availability on website sucks- Partner awards are KEY- Different tools to search for availability - ANA - Qantas - Air France- Be flexible
  98. 98. Airline Availability- Paid Tools - Expert Flyer - KVS - Award Nexus- Award Booking Service
  99. 99. Using Miles & Points - Hotels - Don’t forget hotels - No taxes on redemptions - Hotel awards are easier than airline seats
  100. 100. Transferable Points - Diversify - More options - Chase Ultimate Rewards, AMEX SPG, Membership Rewards
  101. 101. The Past 1 Hour- Why collect Miles and Points?- Stuff nobody talks about- Earning Miles & Points- Using Miles & Points- Questions?
  102. 102. Web: www.MillionMileSecrets.comEmail: daraius@millionmilesecrets.comTwitter: @MilMileSecretsFacebook: facebook.com/MillionMileSecrets
  103. 103. Back Up
  104. 104. App-O-Rama Every 3 to 4+ Months
  105. 105. App-O-Rama Planning- Different Credit Bureaus- Business + Personal- Plan for Minimum Spending- Call reconsideration to get approved
  106. 106. Reconsideration- Not approved online- Max out available credit or too many inquiries- Call Reconsideration Department after applying - Relationship, Credit Worthiness, Business Info - Good reason for wanting card - Show that you’re not a credit risk - Hang Up and Call Again!
  107. 107. Reconsideration- Chase- Max out available credit or too many inquiries- Call Reconsideration Department after applying - Relationship, Credit Worthiness, Business Info - Show that you’re not a credit risk - Hang Up and Call Again!

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