10 Essential Key Terms for Mastering Points and Miles

To successfully navigate the world of travel hacking, here are some key terms you should know:

1. Points and Miles: These are the currency of loyalty programs offered by airlines, hotels, and credit card companies.

2. Award Charts: Charts provided by airlines and hotels that show how many points or miles are needed for a particular flight or hotel stay.

3. Points Per Dollar: The amount of points you will earn for every dollar spent on a credit card, usually depending on set categories.

4. Transferable Points: Points that can be transferred between different loyalty programs, usually through partnerships between credit card issuers and travel partners.

5. Elite Status: Higher tiers of loyalty within airline or hotel programs that offer additional perks such as priority boarding, complimentary upgrades, and bonus points.

6. Minimum Spend: The amount of money you need to spend on a credit card within a specified time period in order to qualify for a sign-up bonus.

7. Sign Up Bonus: The amount of points you will earn by applying for a credit card and meeting the minimum spend requirement.

8. Annual Fee: The fee charged by credit card companies for the privilege of holding a particular credit card, often associated with premium travel cards that offer lucrative benefits.

9. Transfer Partners: Other loyalty programs or airlines/hotels with which you can transfer your points or miles.

10. Cent Per Point: This refers to the value you are getting when redeeming points. To get this you divide the cash cost of the redemption by the amount of points needed to get it free.

Understanding these terms will give you a solid foundation for navigating the complex world of travel hacking and maximizing your rewards.

Go get those points!

Chavy