OK so you have made the decision that you want to throw your hat into the points game…. now what?

First step is to take a look at your finances. What does your monthly spend look like? What makes up the bulk of that spend (travel, groceries, gas, entertainment, etc.)? What does your credit score look like? How many credit cards have you opened in the last 24 months?

Next, you need to research what credit card offers are currently available. Below, I’m going to cover the card I used to get started. Before jumping into this, I started following various travel hacking “experts” on social media. It took me probably 6 months before I actually took the leap into opening my first card and another 2 months before I decided to use my card because I had a terrible case of imposter syndrome. I saw all of these professionals on social media posting about their trips and talking about the points they had accumulated, and I thought there was no way I could actually duplicate that. In retrospect, I wish I would have had more confidence in myself! I do suggest doing your research, but I also suggest believing in yourself! The people that have been thriving and reaping the rewards of the travel point industry for years all had a starting point. Once I kicked myself in the butt and realized their point X was not my point A, I was able to really jump in and start collecting those points. From the date I opened this card I’m going to review below, to the day I booked my Sedona/Vegas points trip was about 9 months. It’s attainable and doable for everyone but remember your path and speed will be different than others. Just follow your plan, and you’ll be fine!

5/24 and what does that mean?

The first thing all of the travel experts were talking about was 5/24. At first, I thought it was a date where all of the travel deals came out…yeah that’s not even close! 5/24 is a status that Chase bank uses as part of their decision-making process when reviewing credit applications. It simply means, have you opened 5 or more personal credit cards in a 24-month timeline and that is across all credit card brands not just Chase. This includes store credit cards so keep this in mind next time you are at the retail counter, and they want to give you a card to save 15%. Is it worth it…spoiler alert…it is not! Chase has a rule that if you have opened 5 or more personal credit cards in a 24-month time period, you will not qualify for any of their personal or business credit cards until you fall under those 5 cards. This is based off approval dates.

Example: If you open 5 personal credit cards between June 2022 and June 2023, then you will not be under 5/24 until that first card in June 2022 reaches its 24-month period in June of 2024.

Reminder: MOST business cards do not count toward your 5/24. There are very few exceptions including Discover business cards and some Capital One business cards.

Chase has some of the most valuable points out there and are the only direct transfer partner to Hyatt hotels which offers some of the best value for your points. To really get your travel hacking journey started, it is strongly suggested that you learn your 5/24 and keep that in mind when putting together your credit card strategy. You can do so by first using a free site like Credit Karma. This will show you the credit cards you have opened in the last 24 months.

Time to apply!

Ok you have your 5/24, you checked your credit score, reviewed your finances to decipher what your monthly spend looks like…time to apply! Through the research I did online through blog postings and social media accounts I followed, the overall top suggested card for beginner travel hackers is Chase Sapphire either the Preferred or Reserve. There are subtle differences between the 2 including the annual fees so it is important you read through these and decide what is best for you. After researching both of these cards, I decided to apply to the Sapphire Preferred. At the time I applied, they were running an elevated sign-up bonus of 90k points after $3k spend in 3 months. The current offer at the time I’m typing this, and the non-elevated offer is 60k points after $3k spend in 3 months. Please note, this card is not 0% so you do need to understand how much spend you can achieve per month and be able to pay it off by each due date. It is extremely important to not carry balances month to month on cards that do not offer an intro 0% offer. If you are paying monthly interest, you are not traveling for free and just putting yourself in debt.

I applied for a Chase Sapphire card in June of 2022. This was the first card I had applied to since 2017 so I was 0/24 at the time. My credit score bounces between 785 and 800 depending on what credit agency is reporting. I was able to get instantly approved and the excitement built. Unfortunately, i was still dancing in my own head and let the card sit for 2 months before I decided I was being silly, and I needed to try to see if I could succeed at this. Due to some travel and every day spend, I was able to meet the minimum spend in time. I remember the day the 90k points posted! I did a happy dance and then quickly used a referral link so my husband could sign up and we could start again. If you have a player 2, or someone that you will be partnering with on this points journey, remember to use referral links between the 2 of you to maximize points. By having my husband use my link, I received 15k points for the referral and he received the 60k points (the promotional offer had expired at this time) once he met his spend.

Remember the promotional offers can expire with little to no warning. Unfortunately, since I hesitate to refer my husband, we lost out on 30k extra points which could be as much as 2 nights at some Hyatt locations.

Getting started wrap up

Number one tip to remember, believe in yourself! Once you do this, the sky is the limit!

To get started, make sure you have done your research and have your ducks in a row. Check your credit score, understand your financial situation, and what your monthly spend looks like, research current credit offers, and get ready to start earning the points!

Chase is one of the best options out there for beginner travel hackers. Know your 5/24 ahead of time and if you fall within their requirements, the Chase Sapphire Preferred or Reserved will be a great jumping off point!

Don’t spend more in a month than you can afford to pay off by the due date. Being charged monthly interest fees will totally negate the free travel you are working earn.

Have a P2 ready to join the fun so you can refer them and capitalize on those referral bonuses!