Accumulating Points – A Step-by-Step Plan
Thank you for the incredible response to my Let’s Get to the Point blog. I am completely amazed and so very grateful!
If you are feeling overwhelmed and thoroughly confused about the world of credit cards, and points, and how to bring it all together, don’t worry. You are not alone. Nothing this worthwhile comes easy. The great news is, I am here to help you decipher all the rules and help you make a plan. The most important step is always the FIRST ONE! You can do this . . . if you just take small baby steps. I’m also here to help you with a step-by-step plan for accumulating points.
I just want to share this GREAT news
I’ve been on this journey for years now. In fact, I didn’t even feel comfortable sharing until I had a certain level of comfort, and knew FOR A FACT that what I THOUGHT was possible TRULY WAS possible! Now I want to scream it from the rooftops!! Let’s walk through this, step-by-step, to begin accumulating points.
SO, HERE WE GO
Step #1 – Know what your credit score is.
Go to creditkarma.com, create an account by following the instructions, and see what your credit score is. This is a FREE service and it WILL NOT affect your credit score. If your score is somewhere in the range of 650 or above, then move onto Step #2. If it is not, then continue working on building and increasing your credit score.
Step #2 – Research the right card for you.
Depending on your comfort level with credit cards, you’re going to apply for one of two. The first – the CHASE Freedom Unlimited, offers you a flat 1.5 points per $1 spent. This is your best option and the quickest route to accumulating points fast. To read more about the Chase Freedom Unlimited, or to apply, see this link.
The second option, which is my very favorite credit card for those that are new to the credit card/points world (because of its incredible value) is called the Chase Sapphire Preferred. While you will pay a $95 annual fee to have this card, the value of the bonus in the first year alone is $750!! And that’s BEFORE you tally all of your points spent throughout the year. If you spend $30,000 over the course of a year (and you will want to put ALL of your expenses on this card), you’ll have a minimum of 90,000 points, and likely a whole lot more. To read more about the Chase Sapphire Preferred, or to apply, see this link.
Step #3 – Make sure to meet minimum spend.
As soon as you receive your credit card in the mail, you will register it through the Chase website. Immediately begin using that as your primary source of spend. This means that if you are at the grocery store, use this card. If you are at the gas station, use this card. If you are paying any utility bill that accepts credit cards, use this card.
Step #4 – Track all of your spending
Create a simple spreadsheet which will allow you to track every single penny that you spend. The key here is to NEVER spend more than what you have in your checking account. The goal is to earn points on what you would spend ANYWAY; not to spend outside of your budget or more than you can afford to pay off in any given month. In fact, I make several credit card payments per month, just to keep the balance at a more manageable level. It terrifies me to see $1,000 on my credit card, and so I rarely do. Oh, and if you need help creating a spreadsheet, don’t hesitate to reach out to me HERE. . . I have a proven system and can give you some valuable pointers.
Step #5 – Research how you’d like to spend your bonus points.
As you are putting all of your expenses on your card, and faithfully subtracting them on your spreadsheet, you’ll be spending the required amount to receive the credit card bonus. For the CHASE Sapphire Card, that amount is $4,000. Once you’ve spent $4,000, in three months, you will earn 80,000 points (which currently is an elevated bonus). The value of these points are $1,200 if you choose to cash them out through the Chase Ultimate Rewards portal. And because you are putting ALL of your expenses on this card, you’ll continue to earn A LOT more points, increasing the value with every single swipe.
Step #6 – Make frequent payments
Log in to your Chase portal and make credit card payments as often as you’d like. You are allowed to make a payment every single day. Sometimes it does take a day or two for charges to hit your account, so it is important to check frequently in order to pay off those charges.
Step #7 – NEVER carry a balance.
Never, I repeat NEVER, carry a balance on your credit card. This will negate ANY benefits of accumulating points. The interest rates are far too high for you to ever come out ahead. This might be the most important thing that I will post on this page!
Step #8 – Let me help!
If you have ANY questions AT ALL, feel free to email me HERE, or message me on Facebook or Instagram. I will get back to you as soon as possible and am always happy to answer any questions. I look forward to hearing from you!
*This post contains affiliate links. We may earn a small commission, or a referral bonus, for recommendations – at no cost to you. We only recommend products that we personally use, trust, and enjoy.
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Greetings! Very helpful advice in this particular article!
It’s the little changes that lead to the most important changes.
Many thanks for sharing!
I have a couple of cards that earn points. Thanks for the great tips to get the most value from them.
Shirley, you’re so welcome. The ability to earn points on a credit card has changed our lives. Thanks for stopping by. Blessings.
We might be opening a new card at some point. Thanks for the info!
Emily, highly recommended. Our family of six spent two full weeks on a $34,000 trip and spent $3,000 (most of that was on excursions and dining out). Feel free to reach out to me if you have questions. I’d be happy to help if I can.
This is a great summary of ways to earn more points – we have many friends that take some pretty good trips on points! Hope to get there one day!
Tiffany, it’s definitely the WAY TO GO! I wish I had learned all of this earlier. When my kids were little, our annual vacation was to our family lakehouse, in Virginia (because it was so inexpensive). If I had known that we could have been traveling the world with the money that we spent anyway, it would have been a game changer! If you have questions, do not hesitate to reach out! Blessings!
I will have to try one of these. I signed up for a card to get points but the point system stinks. I have earned the points but they give us the crap and it’s such a headache. I might have to try one of these instead.
Karie, I agree that having the right cards matter. If you need help understanding the one that you have, do not hesitate to reach out. My info can be found in the “About Me” tab. Blessings!
Thanks for this great content – I hope to travel the world again one day soon, and will be using your site to learn more about how to do it with points!
Thanks Christina!! And I can’t wait to check out your website – I used to be obsessed with scrapbooking (but got overwhelmed keeping up all the memories with four kids)! If you have any questions about points, feel free to reach out – I’m always happy to help! Blessings!
Thanks for sharing this useful information. We need all the help we can get these days!
Adrienne, you’re so welcome! Thanks for stopping by. Blessings!
Great process! Definitely smart to pay off the card more often than once a month. That’ll probably keep a lot of people from spending more than they should.
Eva, if I didn’t pay off my credit cards every few days, I think I’d be in a panic! Thanks for your kind words!! Blessings!
Great Advice!
Thank you Barbara, and thanks for stopping by! Blessings!
This is great! I think it’s very important to do your research on what kind of credit card to get since they all offer different benefits and have different money limits.
Mariah, you’re exactly right! The cards that you carry are so important and that can vary from person to person, and household to household! Thanks for stopping by. Blessings!
Great suggestions for traveling with points! That’s the only way we travel and I agree that researching and using the right card for your individual situation is key!
Tara, exactly right! Thanks for stopping by, and happy travels (when we can get back out there)! Blessings!
I love reading and learning more about using points. We travel using our points too and I’m always on the hunt for new tips!
Casandra, thanks for stopping by, and feel free to search through any post here at http://www.letsgettothepoint.com. If you ever have questions, feel free to reach out to me. Blessings!
It was perfect the first time. I’ve learned so much from you as well! Keep it up – great post!
Very informative
Thank you Amanda!
Thanks for sharing these great tips. I’m trying really hard to get a hold on my finances this year. I wasn’t expecting to be out of work for as long as it has been but I’m still on track.
Well done Adrienne! My advice for now would be to NOT overextend your self. Give yourself some grace – it’s a difficult time for sure! If you have any questions, feel free to reach out! Blessings!
Just wow! My points card sucks! Lol… have book marked this for later research!
Marianne, bless your heart!! It’s OK. Some points are better than no points. And stick around! You’ll learn exactly which cards to use to accumulate the MOST points. There are six people in my family. We’re planning our next trip (depending on travel restrictions). Our top two choices right now are the Big Island, plus Kauai, plus one two-day stop in Honolulu, OR New Zealand. Because we have almost twice as long to accumulate points, I think we should go for the gusto!! Thanks for bookmarking, and if you have ANY questions, do not hesitate to reach out! Blessings!
Great post for all those points and what they can be used for! I’m not a credit card user, only in emergency, but this helps to understand it more!!
I understand Holly! Actually, we weren’t credit card people either – followed the Dave Ramsey plan. Then I learned how beneficial they were for establishing credit and even more beneficial for accumulating points. Now my kids get to see the world, which is something that I never thought was possible. We’re extremely strict about paying off our debt every week (sometimes several times per week). My husband, who is math minded, created a spreadsheet that subtracts from our debit account what I charge on the credit card. Therefore we NEVER charge more than what we can afford. When we’re out of money in the checking account, I’m done! Thanks for stopping by. Blessings!
Credit card points are a great way to earn perks if you manage them right. Great article.
Angella, thank you for your kind words. And I agree! You must be very careful and not overextend yourself, but the perks are INCREDIBLE!
This sounds fun! I know Dave Ramsey says no to Credit, but if you are able to pay it off AND still get the rewards then I think it’s awesome!
100% agreed Chantelle! We are big Dave Ramsey fans. His target market generally has a hard time paying off their balance, so I understand his stance on credit cards. And secretly, I think he MUST be using them or he would be leaving thousands of dollars on the table. As long as people have that sinking fund and can pay off those cards every month (and sometimes every week), than points are a great option!
Fantastic tips! The world of points has been a rough go for us—trying to figure out how to maximize the benefits of the points. I’ll be sharing this with my husband.
Magan, it’s a process. Give yourself a little grace, especially now, when things a bit tough. Just learn the process, one step and one card at a time. If you ever have questions, feel free to reach out. I’m always happy to help! Blessings.
I only have 2 cards….one has no annual fee yet earns points for credit cards, $$ into your checking account, and is free to use Internationally with no fees! The other is my Southwest Credit Card – I have started to pay some recurring household bills with this just to get points and then pay the credit card bill when I would normally pay the actual bill – win win!
Judean, you are off to a fantastic start!! If you have the ability to get a business card as well, you could earn the coveted SW companion pass this year, and it would still be good for all of 2021! If you have questions, search my blog for Southwest Companion Pass. If you still have questions, feel free to reach out. I’m always happy to help!! Blessings.
I love free stuff! But my problem is I get so busy that, oftentimes, I leave my free stuff on the table and forget to use it. 🙄 This is fantastic info though and I’ll refer back to it when I’m ready to make my credit and expenses work for me.
Tammica, I can’t even imagine how busy you are with all those beautiful littles! Thanks for the save and if you ever have questions, feel free to reach out! Blessings!
Travel rewards card are key in the travel business. And never carrying a balance is critical!
I agree Sandi! Points travel only works for those that can pay off their cards every single month (or in our case, every week)! Blessings!
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Earlene (which by the way, is one of my favorite Aunt’s name), thank you for your kind words. And good luck on your presentation. I’d love to hear how it goes. And which university do you attend? Blessings!
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