six strategies that will help you travel more and spend less!

Overview

• How to set up mistake fare alerts

• Last chase for an easy 50,000 AA miles

• A new strategy for meeting minimum spending requirements

• Paying taxes with your credit card

• Avoiding Financial Fees while traveling abroad

• Calculating the value of “luxury” credit cards

Mistake Fare Alerts

What is a Mistake Fare?

• Abnormally cheap airfare that has been mistakenly priced too low for one reason or another

– Computer Glitches

– Human Error

– Currency Conversion Errors

– Miscommunication between OTAs and Airlines

Thailand = $225

South Africa = $325

Other Examples

• $425 Business Class Flights

– DCA > PEK (RT)

• $110 First Class Flights

– LHR > USA (OW)

Where to Find Mistake Fares

• FlyerTalk

– Mileage Run Deals Forum

– http://www.flyertalk.com/forum/mileage-run-deals-372/

• The Flight Deal

– http://www.theflightdeal.com/

Current Options

• Twitter

– Follow the @TheFlightDeal

– Follow my Travel Hackers Twitter List

• https://twitter.com/natebuchanan/lists/travel-hackers

• Blogger’s Mailing List

– Nate Buchanan

– Extra Pack of Peanuts

– The Points Guy

Best Option

What is IFTTT?

• If This Then That

– Use to create “recipes”

– (If) The Flight Deal publishes a new post

– (Then) Send a notification to my phone

Setting Up IFTTT

• Create an account on IFTTT

• Download the App

• Follow my recipes

– https://ifttt.com/p/nbuchan1/shared

– “The Flight Deal – Notifications”

– “Flyertalk Mileage Run – Notifications”

What You Get

• Picture of notification

The Best Tool For Meeting Minimum Spending Requirements

Target REDcard (Prepaid)

• Reloadable Prepaid Card

– Target’s Version of the popular Bluebird.com

What Make the REDbird Special?

• YOU CAN LOAD IT WITH A CREDIT CARD!!!

– Up to $5,000 per month

Old System

New System

Finding the (rare) REDbird

• Only Available in Certain Areas - Not in Nashville

– https://amex.serve.com/prepaidredcard/faqs/

Find the (rare) REDbird

• Ebay

Earning Miles & Points by Paying Taxes

Online Tax Payment

• IRS 3rd Party Payment Processors

When Does it Make Sense?

• Meeting Minimum Spending Requirements

• Earning Elite Spending Perks– Citi Hilton Reserve

• Diamond Elite Status after spending $40,000

– Citi AA Executive Card• 10,000 EQM after spending $40,000

• Barclay Arrival/CapitalOne Venture– Earn 2% back?

• First or Business Class Award Redemptions

What about Debit Cards

• Easy way to empty prepaid cards

– Bluebird or REDbird

50,000 EASY AA Miles

AA & US Airways Merger

LAST CHANCE – US Airways Mastercard

Deadline ~ April 15th

What Happens Next?

100,000 AAdvantage Miles

Fly (almost) anywhere In the World

Avoiding Financial Fees Abroad

Credit Cards

• No Foreign Transaction Fees

• My Favorites

– Chase Sapphire Preferred

– Barclay Arrival

What About Cash?

• Two Options

– Currency Exchange Counters

• Avoid at all cost

– ATMs

• Better but you still pay fees

ATM Fees

• Foreign Transaction Fee– 1% - 3%

• Foreign ATM Fee– $2 - $5

• Example– Cost to withdraw $1,000 in $250 increments

• Foreign Transaction Fee = $20 (1,000x.02)

• Foreign ATM Fee = $16 (4x4)

• Total Fees = $36

The Answer to Avoid Fees

• Schwab Bank High Yield Investor Checking Account

– Free Debit Card

– No Foreign Transaction Fees

– Reimbursed for ALL ATM fees

– $0 Monthly Service Fee

– $0 Account Minimum

Schwab HYICA

• Cons

– Must meet with an advisor face to face to setup an account

– No bank branch in Nashville

– Must mail a check (or cash) to make a deposit

Last Thought

• Use your Schwab HYICA as a travel saving account

– Monthly deposits

– Make saving for travel a priority

Luxury Credit Cards

American Express Platinum Card

• Annual Fee = $450

• Value

– $200(2x) “Incidental Airline Fees” reimbursement

• Per Calendar Year

– $100 Global Entry Reimbursement

– $750 Sign up bonus

• 50,000 Membership Reward Points ($.015 value each)

• $1,250 – $450 = $800

Other Benefits

• $399 - Priority Pass Prestige Membership

• $450 – Delta Skyclub Individual Membership

• New Positive Value = $1649

Citi Prestige Card

• Annual Fee = $450

• Value

– $250(2x) “Air Travel Credit”

• Per Calendar Year

– $399 Sign up bonus

• 30,000 Thank You Points ($.013 value each)

• $900 – $450 = $450

Other Benefits

• $399 - Priority Pass Prestige Membership

• $450 – Admiral Lounge Individual Membership

• New Total Value = $1299

Other Topics For Future Meet Ups?

Questions