Travel Hacking

Travel Hacking

Travel Hacking seems to be the craze these days.  The idea behind it is to collect frequent flyer miles and hotel points from credit cards that offer these types of rewards that one can later use to travel for free.  Many have earned miles without actually setting foot on a plane.  In a Harris poll conducted on behalf of the AICPA, 58% of U.S. adults agree that this strategy makes sound financial sense.

Still, this hobby is not without its risks.  One has to be able to manage their credit scores and credit lines very closely.  Being able to pay off monthly credit card balances in full is also a key point to ensure that any savings are not eaten up by credit card fees and finance charges.  Those who are not astute in managing credit card debt are not good candidates for this hobby.  You will find more information here.