What is Award Travel?
Award travel is the art of using points and miles earned from credit cards, loyalty programs, and other sources to book flights, hotels, and other travel experiences for little to no cash.
The Basics of Award Travel
Award travel allows you to exchange points or miles for airline tickets, hotel stays, and other travel experiences instead of paying cash. These points can be earned through credit card spending, airline loyalty programs, hotel stays, and various other methods.
Types of Points and Miles
There are several categories of points and miles:
- Airline miles: Earned by flying with specific airlines or their partners
- Hotel points: Earned through stays at hotel chains like Marriott, Hilton, and Hyatt
- Transferable points: Credit card points that can be transferred to multiple airline and hotel partners
- Bank travel portals: Points that can be used directly through bank travel booking platforms
The Value of Award Travel
Award travel often provides the best value when booking premium cabins (business or first class) on international flights, where the cash price might be thousands of dollars, but the points cost represents a fraction of that value. Strategic booking can yield 2-10 cents per point in value, compared to the standard 1-1.5 cents typically offered through cash-back options.
Developing Your Award Travel Strategy
A successful award travel strategy involves:
- Identifying your travel goals
- Selecting the right credit cards and loyalty programs
- Understanding award charts and sweet spots
- Being flexible with dates and destinations
- Planning well in advance for the best availability
- Using tools like Award Travel Finder to simplify the search process