You can get to that sunny destination by saving up your money, but you can get there quicker if you save up your money and collect credit card points.
But there is a catch you should be aware of.. The interest rates if you don't pay them off each month.
Many credit cards with points accumulate them for purchases, that can be put towards flights, hotels, vacation point and more. Air miles are not the only game in town. Some cards have points that are put towards purchases, so make sure the card is saving points for your vacations.
Now who wouldn't want cheap flights? But there are a couple of catches.
You need to spend a lot of money to gain these points, and if you don't pay off the balances each month of these points credit cards, the interest is huge, sometimes up to 28%!
They hope that you will overspend on your credit card to accumulate the points, with the hopes you will pay interest for the sake of points. This can be dangerous, because many of these cards are double digit interest rates.
But if you play the points game right, you can end up with the holiday of your dreams for simply charging your groceries and everyday items.
If you feel you are disciplined enough to pay off this card each month, (and you really have to look at your lifestyle and spending habits here and be honest with yourself) then go ahead and use it EVERYWHERE. Most grocery stores accept cards now, so you can accumulate points fast by using it here.
The points will add up quickly, especially if you start using it for groceries, all your regular purchases etc, not just special purchases.
Why not contact your bill companies, and have them put your regular bills on your credit card? You will get the extra points and not have spent anymore than you normally would.
You must Stay on Top of your Purchases
Just make sure, that every week, you add your grocery money etc to your credit card, so that it does not get a chance to accumulate, and before you get used to extra money in your wallet, because of using your credit card.
Make sure and put your cash towards paying off these regular purchases to really reap the rewards.
Remember, you have to pay this balance off every month for this to work and be worth all the trouble.
This takes some time and money management, but if you do this right, you will have a points credit card with NO lingering balances accumulating interest and hopefully a cheap flight! I managed to get two tickets to Scotland free with my points, just from my regular shopping over a year!.
Just remember, if you spend for the sake of the points, and you can't pay off the balance each month, then that cheap flight might have just cost you double a regular flight, if you add up the interest.
But if you plan this right, you can get the credit card points from your regular spending and get the bonus of a discount vacation without paying double for it with interest costs!