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Simple Points and Miles Strategies
I recently described a few methods I follow for simpler travel. But I also try to make things easier at home between those big (and small) trips. I’m primarily talking within the points and miles realm, but also beyond it. Earning and redeeming large amounts of points and miles sometimes comes with shouldering additional complexity. Since that’s the case, why not keep other things we can control as simple as possible? Today, I’m reflecting on that a bit. These everyday points and miles strategies – along with a few other things – help me take it easy.
Set and Forget
Maximizing points, miles, cash back, and other money-saving plays often involves signing up for a service via promo(s), using the service, cancelling, then signing up again when the opportunity returns. More often recently, I’ve opted to just sign up once and stay enrolled in services I’m actively using. All that time- and mind-clutter that comes with cancelling and restarting costs more to me than the perceived money lost on any deal I don’t pursue.
For instance, wholesale clubs often provide promos where individuals can join for a discounted rate or receive other freebies. These days, once I sign up, I’ll generally stay put. I won’t bother cancelling and rejoining for that deal. We’re Sam’s Club, BJ’s, and Costco members currently. I’ll pay for the standard Sam’s Plus membership annually without flinching, happily knowing their shipment policy helps me avoid my least favorite place – my local Sam’s Club parking lot. We’re in year one of our BJ’s Plus membership, and I think we’ll renew there, as well. With Costco, I’m taking a somewhat simple posture – we rejoined under our dormant membership, which didn’t involve processing new membership cards, etc.
Fewer Points, Less Drama
Years ago, I focused on bonus categories more than I do now. Back then, I’d make more effort on the street to maximize them. I eventually found that most of the gift card fraud issues I faced involved these activities. So I decided to reacquaint myself with an old friend – the Simon gift card. I took a Simon break during the pandemic, but I eventually came back. While I don’t earn bonus categories (or anything Amex) with Simon, I’ve cost-effectively acquired gift cards without experiencing fraud. Simon prices have increased since my return, but they’re still competitive, especially online. And, again, the lack of drama with Simon is worth a lot for us.
Simpler Credit Consumption
I’ve historically been a fan of Uber Eats pickup to efficiently consume Amex Gold and Platinum credits. I sheepishly admit that I should’ve opted more for delivery years ago. I’ve noticed that seemingly-simple pickup orders have become more complex for restaurants recently. Several spots where we use Uber Eats don’t start the order until we arrive for the pickup. That’s time we can’t get back. Instead, I’ll opt into inflated delivery and service fees with the credits rather than what should be an easy pickup. Not coincidentally, I’ve decided to pay for Uber One membership out of credits, as well. So let’s talk a bit more about the benefits of higher costs.
Increased Costs? I’m In.
I still believe our points and miles hobby is, at its roots, a local one. What I can do around town can be a remarkably rewarding endeavor. I still embrace the grind here and there, especially when it’s part of my normal errands. But I’ve been more open to absorbing higher costs to do things from home. And when those fees go higher, I try not to complain. It’s just another point to reassess if the new cost is worth the time saved. More often than not, it still is. I don’t expect this to change anytime soon.
Points and Miles Strategies – Conclusion
Despite these trends, I’ll still go the other way here and there. I play a complex game with certain benefits like the Amex Platinum Digital Entertainment Credit. I may be spending more time than necessary – but enjoying – a new Chase Sapphire Reserve benefit. Indeed, I’m more open to spending time doing the things I enjoy, but isn’t that the point (pun intended)? I’ll continue following that principle.
How do you simplify points and miles strategies while at home?
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A while back, I came across a comment to some article in which the reader argued for simplicity. The reader said that 90 to 95 percent of possible points (given a person’s spending pattern) can be achieved with only three or four cards. Adding another card to the mix only gives you another 1 or 2 percent. Adding yet another card, even less. The law of diminishing returns. So, I tested the idea on my spending. I modeled using dozens and dozens of card combinations. And, I came to the same conclusion as that reader. Sure, a SUB is a SUB and I’ll take it. But, there is something to be said about simplicity.
I love it, Fred!