E276: Maximizing Luxury Travel with Credit Card Points with Eli 'The Travel Guy' Facenda

The Erik Cabral Show

Find out all there is to know about taking advantage of your credit card points and how you can travel the world the best way possible. In this episode, Erik Cabral speaks with Eli “The Travel Guy” Facenda, the founder of Freedom Travel Systems, a travel company that helps people maximize luxury travel with their points, without all the headache and frustration of trying to figure it all out for themselves.

Eli is a travel-loving entrepreneur with a nerd-like passion for maximizing credit card points for world-class travel experiences. He's visited over 40 countries in the last five years and is able to leverage these credit card points to get an average of about $100,000 of luxury travel every year. Find out how you, too, can travel like a pro!

Here are some power takeaways from today’s conversation:

• How Eli got into the travel hacking world

• How to get the most out of your points

• Using credit card points vs. cash backs

• How to choose credit cards

• How to get started with business credit

Episode Highlights:

[15:06] How to Maximize Your Points

Maximizing travel rewards involves a few key strategies such as:

1. Choose the right credit cards and allocate expenses in a way that earns more effective points. This means being mindful of which points are most valuable and not making the mistake of accumulating points that can't be used well.

2. Upgrade everyday travels by utilizing card benefits and playing the status game well. Aim to take advantage of perks such as free Uber rides, priority check-ins, TSA pre-check and lounge access for complimentary food, drinks, and Wi-Fi.

3. Use points more effectively by converting them into airlines and hotels loyalty programs for up to 10 times more value. Whether you're planning a luxury international trip or a family trip to Disney, this strategy can help you get the most out of your points.

Business owners and non-business owners alike can utilize these strategies to earn and maximize travel rewards.

[18:21] Credit Card Points vs. Cashbacks

If you feel like you trust yourself with your finances, then credit cards and, specifically, points will always make sense if you're someone who travels. If you don't travel at all, then cashback can make sense. If you want to earn the most effective points starting out, you want to be looking at these transferable bank points that can convert from the banks into airlines and hotels.

[20:36] How to Choose Credit Cards

To optimize your credit cards, consider which airlines you fly frequently, your nearest airport, and your typical expenses. For instance, if you spend heavily on groceries and dining, the AMEX Gold card earns four points per dollar. A card like Frontier, which only earns one point per dollar and can't be used widely, is a poor choice. Having a clear strategy before choosing a card is crucial. Additionally, loyalty programs are highly profitable for airlines, which explains their aggressive co-branded card promotions. By having a plan and understanding credit card rewards, you can maximize your travel rewards.

Resources Mentioned:

Freedom Travel Systems

Instagram: @elitravelguy

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