Is it possible to boost your frequent flyer points accumulation to a level that will give you free travel, sporting goods, electronics, or any other rewards related products without going on a spending spree? Yes, by leveraging accumulation using the Piggyback method.
A few things to do before you start out…
1. Do your homework first. Which frequent flyer points systems gives the most value, most convenient partners and go through their terms and conditions, being aware these can change. 2. Sign up to all frequent flyer points systems and partnering companies. Link partnering companies rewards points across to your preferred rewards points system. ie. Flybuys, Qantas. 3. Make sure where you shop accepts Credit Card.
The trick to frequent flyer points accumulation is to stick to the everyday inevitable expenses and not buying unnecessary items, the latter will not save you any money instead end up costing you loads more, defeating the purpose.
Sign up to a Credit Card from a banking institution that is partnered up with your frequent flyer points system. Choose the banking institution that rewards you with the highest points accumlumation per dollar spent and bonus points when signing up for the credit card.
Important Note: It is vital to stay on top of your credit card account and ensure it is payed back to $0 before the interest free days run out.
Piggybacking is a strategic spending method that uses Credit Cards to boost points accumulation from more than one rewards partner.
Standard – At a basic level to accumulate points you pay cash or EFT for your products and swipe your frequent flyer points card when you go through the shopping centre check out. You will only receive standard rewards points from one rewards points partner.
Piggybacking – If you were to buy a product but instead of handing over cash, use a credit card that is partned to your frequent flyer points system. By doing this you will receive the purchased items reward points, plus the banking institutions reward points.
The Piggybacking method can be used to pay for any rewards partners products: Insurances, Travel, Alcohol purchases, Hire car fees, Shopping & groceries, Phone bills, etc.
A few financially related articles to help out: Fly-In Fly-Out Workers: Cash in on Frequent Flyer Points Always Broke Between Swings but Hate Budgets? Try Paying Yourself First and the Rule of 10% Photo Credit (CaptBrando)
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