This Is George Kamel’s Least Favorite Travel Hack — Here’s Why
Written by
Crystal Mayer
Edited by
Jenna Klaverweiden
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Financial expert George Kamel is known for being a straight shooter when it comes to advice on how to spend and save money. He is not afraid to share all of his trade secrets, from subscriptions that are actually worth the cost to the best websites to find a deal.
When it comes to travel, however, there is one hack that he is not too keen on.
Also see five little-known ways to make summer travel more affordable.
Forgo the Credit Card Points
On a recent episode of “Smart Money Happy Hour,” Kamel and Rachel Cruze discussed their guide to “budget-friendly travel.” While the show is filled with tips and tricks to save money on destinations throughout the year, there is one hack that Kamel disagreed with.
The bestselling author recommended staying away from racking up credit card debt to score travel points. Hopeful earners often end up spending thousands of dollars to secure the travel points they need.
Both hosts agree that there are many other free programs that don’t require breaking the bank.
Credit Card Reward Program Woes
With the hope of an all-paid trip to a tropical island, many Americans opt for credit cards that offer some kind of travel rewards or a redeemable point system. The problem? These programs can contain hidden terms, limited redemption opportunities or higher-than-average annual percentage rates (APRs) that cause more headaches than they are worth.
The Consumer Financial Protection Bureau (CFPB) even warned about these rewards programs, noting that they have dominated marketing efforts by major credit card companies. The agency issued the warning after receiving hundreds of complaints about the programs, from unexpected conditions and devaluation to redemption problems and revocations.
Due to the rising costs of issuing these rewards, redeeming them has become more complex for consumers, per the CFPB. The amount a person has to spend has also been increasing, causing rewards chasers to incur more and more debt to achieve minimal points. The CFPB had previously taken action against major players who reportedly engaged in deceptive or abusive practices in relation to these programs and continues to monitor complaints related to the issue.
Travel Hack Alternatives
While racking up credit card debt may not be a smart route to travel, there are a number of other hacks to save money on travel that both Kamel and Cruze can get behind. The experts agreed that travelers should take advantage of free frequent flyer programs and loyalty rewards offered by companies like Marriott Bonvoy and Southwest.
The cohosts also suggest going through flight comparison websites, such as Skyscanner, to ensure the cheapest flights. Hopeful savers can also look into Costco Travel, which offers a number of bonuses and perks for bookers, according to Kamel.
Another option is to simply use “strategic trip timing” to make vacationing more affordable. The duo recommended having flexible travel days and times to find the least expensive day to fly and to think about visiting destinations off-season to avoid price hikes.
Finally, the pair suggested rebooking flights with airlines that provide credit if the rate goes down at a later date.
More From GOBankingRates
Sources
- Smart Money Happy Hour with Rachel and George, “Our Ultimate Guide to Budget-Friendly Travel.”
- Consumer Financial Protection Bureau, “Credit Card Rewards.”
