January 9, 2024 | View Online | Sign Up
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I’m currently at war with a French Airbnb host.
It’s a tale of betrayal and deceit involving a white-collar criminal, an overblown noise complaint, a Scottish band called Travis, and a notoriously filthy kettle.
While I can’t divulge the details here, know I spent four hours building a 3,000-word presentation in my defense.
It's possible I'm enjoying the drama.
Let’s get to the points:Â
The cards you need for 2024
What the hell are Merchant Codes?
Should you plug in this new tool?Â
Totally reach out so I can tell you all about it,
Steven
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| CARDS OF THE WEEK
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Apparently I need all 4 cards. Luckily, I have 3, so we're in good shape.
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The Cards Every Type of Person Needs in Their Wallet
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The first week of the New Year is done and dusted, so if you haven’t started planning your 2024 credit card strategy, you’re already behind. To help you along, I’ve thrown together a few cards you should consider depending on your habits.
🍴 You spend a lot of money on eating and groceries
If you’re spending a ton of groceries for the family or a big-time foodie dropping hundreds (maybe thousands, I’m not judging) on eating out or ordering in, this card is indispensable. Aside from its solid intro bonus of 60,000 points, earned after spending $4,000 in six months, you can pull an unmatched volume of points on its huge earning rates for supermarkets, restaurants, and delivery apps. It’s one of my most valuable cards.
🕴️ You’re a small business owner with moderate spending needs
If you own a small business with outgoings of $2,000 a month or more, you will never find an easier haul of points. This card’s solid intro bonus, redeemed as either $900 or 90,000 points (check our article to understand why it’s both), is earned by spending $6,000 within three months of opening the card. That’s enough to fly business class to Japan and back.
💳 You don’t want a ton of cards in your wallet
If you want to get in on the world of points and miles but don’t want multiple cards clogging your wallet, the Capital One Venture X is the one for you. Its flat rate of 2X miles per dollar means earning is simple but lucrative, while its 75,000-mile intro bonus (earned after spending $4,000 in three months) is enough to grab two round-trip tickets to Hawaii. Throw in lounge access, hotel credits, and some incredible insurance, and you’ve got yourself one of the best cards on the market.
🧳 You’re a digital nomad or super-regular traveler
This card is, without a doubt, the most valuable one in my wallet. It’s got a decent intro bonus, but that’s not why you’re opening this card. Digital nomads have a lot of travel expenses–from flights to Airbnbs to tours at every destination they’re in. This card’s outstanding earning potential on travel, food, and transit is so valuable to me and others like me. But even if you’re at home, it earns the same on things like subway rides and ferries.
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| STEVEN'S TIPS
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As a sidenote, how sick is my apartment's rooftop pool?!
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I've Got the Business Coding Blues
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I’m back in Southeast Asia and can’t explain how good it feels. The only downside is that sometimes my points and miles strategy can falter a little due to inconsistencies I don’t always find in Europe or the States.
Take last week, for example. I was out for dinner at an Italian place in Koh Samui. My group of six ran up a tab of around $350. Knowing one of my cards earned me 4X points per dollar on dining, I happily grabbed the bill (everyone paid me back - I’m not that lovely or wealthy). In theory, I should have seen 1,400 points drop into my account. Instead, it was a paltry 350. I’d earned 1x point per dollar.
This happened because the Merchant Category Code didn’t match the actual business. In this case, the restaurant was owned by the same people who ran a hotel two doors down and across the street. From the face of things, they were a completely separate entity, but as far as the credit card company was concerned, I’d just paid $350 to a hotel. If I'd known, I could have used another card and earned 3X points per dollar.
It’s more common than you think
While you might think my case is the exception, not the rule, it’s a common theme in the States, too. Not necessarily for the same reasons, though. Take Walmart, for example. The chain’s superstores are generally listed as Grocery Stores or supermarkets (MC 5411). However, the company’s regular stores are classified as “Discount Stores” (MC 5310).
That discrepancy means if you used the first card I mentioned in the Card of the Week section at a regular Walmart, there’s a good chance you won’t get the bonus points.
How to beat the codes
While there’s little you can do for off-the-cuff spending–unless you want to ask your server to check the books–learning the codes of your most visited vendors can help you narrow down the ideal card in any situation and maximize your earnings. You can do this by checking your transaction history on your credit card's account platform. You'll be able to see what rate was awarded for each purchase.
It’s a hassle, but if it’s preventing you from earning on your gas, groceries, or phone bills, you’re losing value.
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| TRAVEL INSURANCE
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Don't Overpay for Travel Insurance
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While it may seem tempting to cut costs by skipping insurance coverage, doing so could expose you to significant financial risks and ruin your travel experience. Travel insurance is a crucial investment, but it doesn't have to break the bank.Â
If you are a budget-conscious traveler looking to maximize your savings without compromising on coverage, we have researched and found the best options for you.Â
Click here to explore the best options available for the cheapest travel insurance—so you can embark on your adventures worry-free without draining your budget.
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| TRAVEL HACKING NEWS
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We're still awaiting the arrival of a graphic designer...
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A New Points Plug-In: Is It Worth It?
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Something I don’t really cover here is the use of points tools. There are two reasons for this:
We’re a business and want you to use us as your points tools
On a personal level, I think it’s better to understand the system yourself
But it’s wrong to neglect them entirely. I’ll maybe dive into some of the more sophisticated ones later on, but I’ve just stumbled across a new Google plug-in called Points Path that I thought might be useful. So, let’s take a look.
âť“ What is Points Path?
Points Path is a simple Google plug-in that will simultaneously search for award flights while you do the same for cash flights. It then generates a value for your points based on the two metrics. In theory, it’s telling you if the points deal is a good one.
🤖 Does it work?
Yes…but in a minimal capacity. It only works with American, Delta, and United flights. It also only checks the award systems of each of those airlines. So there’s no finding Virgin points for Delta, British Airways Avios for American, or Air Canada for United.
👤 Realistically, who’s it for?
This one’s not for me. It’s far too limited in scope for what I want to do with my points. It might be helpful for someone who’s not too fussed about learning the ropes but has a few thousand points or miles kicking around unused in one of the mentioned airlines. That way, they can quickly check if their points are worth using for a random flight they may take.
👎 The verdict?
I give this new plug-in a 2/5. It’s a limited product with minimal applicable value for someone serious about their miles. And that’s who we all are, right? Instead, sign up for Smart Points: The Course and learn to do it yourself.
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| WHAT ELSE IS HAPPENING
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*This link is sponsored.Â
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