How To Travel The World For Free: Credit Cards 101
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How To Travel The World For Free: Credit Cards 101
Welcome to FrankLegend.com where we review great content that has gone viral. Today we will learn about how you can travel the world for free using credit cards.
How does this work?
This is possible is because many credit card companies are competing with each other for your business. Leading to them offering an incentive so you sign up. This being 10,000 points, free hotels, cash backs and so on. While they do lose money in these offerings, they know they will get it back with your service over time.
1. NEVER spend ANY money you wouldn’t ordinarily spend.
Remember that you must only spend the money you HAVE to. Focus on putting your normal, every day spending on this credit card until you reach the requirement, then you go and get the bonus. Spend wisely and keep strategically and you’ll see your wealth increase in a short time.
2. Never pay any credit card interest.
You are ONLY charged interest if you don’t pay off your balance off IN FULL by the time it’s due. So ALL you need to do is NOT spend money you don’t already have, and then pay off your credit card in full. This way you pay ZERO interest.
Traveling is a great way to explore and experience new things. But this means you’ll have to pack your bags and get some luggage that won’t break anytime soon. If you are looking for quality and need a brand recommendation for luggage, get Samsonite. I have this bag myself and it was the best investment I ever made when it came to a sturdy, trusted luggage bag that I use every time I travel. They are expensive but they are worth it. Check out this collection on Amazon.
3. DO NOT DO THIS if you’re about to get a loan on a house, or a car.
Getting a new credit card will have a mild impact on your credit score each time you apply. Opening up a credit card might lower your score anywhere from 3-10 points temporarily. This is not a big deal for someone dropping from a 730 to a 724, or for someone who isn’t planning to get a mortgage or a car loan. Just some advice before you start traveling on credit.
4. Canceling a credit card
Doing this really depends on the card. If the card does NOT have an annual fee, keep it. There’s zero downside to keeping it open, so you may as well just enjoy it as an extra credit card. And on the cards that DO have fees, it really depends if you get value from the card or not. If you’re not, then just close it because it will make you lose money.
Final Thoughts
If traveling the world is on your bucket list, follow these tips to be able to travel with an added incentive to spending and then getting rewards for traveling. Some credit cards had perks for using their cards on travel and spending on food/smaller items. This can help your consumer habits pay off in the end. Hope you found this article helpful and you use the advice Graham Stephan talks about in his video above. Enjoy!