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How to Fly First Class for Free

How to Fly First Class for Free
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    There’s a way for you to fly first class for free over and over again.

    The best part? It doesn’t require incredible negotiation skills or dumb luck. Anyone can do it.

    Let me tell you everything you need to know so you can decide if this powerful travel strategy is right for you.

    How to Fly for Free

    A few years back, I started searching for the best ways to travel for cheap. I wanted to get out and see the world … or at least the United States.

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    What I ended up finding were a small group of people that were booking free flights over and over again with a strategy that was the complete opposite of what most people do.

    You see, most people know that you can book a free flight by using frequent flyer miles. And if you have enough frequent flyer miles, then you can even fly first class for free. Of course, the only problem is that it’s really hard to accumulate a lot of miles by flying.

    Luckily, there is a way to get hundreds of thousands of frequent flyer miles without flying at all.

    This travel strategy is a special process called “credit card churning” and here’s how it works…

    The credit card industry is extremely competitive. As a result, many credit card companies are willing to offer you huge frequent flyer mile bonuses if you sign up for their card.

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    This strategy works so well for getting frequent flyer miles that a group of people called credit card “churners” have used it to earn more than 1 million frequent flyer miles in a year. They apply for card after card and churn through as many applications as possible. Then, they spend the minimum amount needed to get the bonus (for example, $1,000 in 3 months) and move on to the next card. Some people routinely have over 15 credit cards on rotation!

    The good news is that credit card bonuses work just as well for normal people like you and me. By simply getting 1 or 2 new cards, you can get enough frequent flyer miles for multiple round–trip flights.

    There is no need to go crazy and get 15+ new cards. Of course, if you did, then you could literally earn enough miles to fly around the world multiple times.

    Regardless of how many cards you’re comfortable with getting, these frequent flyer mile bonuses are the best way to fly for free because you can use frequent flyer miles to book flights anywhere and at anytime. For example, I used frequent flyer miles to book a free flight to Costa Rica last December, which is during the “high season” down there.

    Where to Get Started

    Many credit card churners get their information from a variety of blogs, forums, and websites. Thankfully, there are services that can do all of that research for you.

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    A great one to start with is The Credit Card Fly. It’s a free email newsletter that sends you a short weekly update of the best credit card deals for earning frequent flyer miles, free hotel stays, and rewards points.

    Once you know the deals to apply for, the 3–step process looks like this:

    1. Apply for a new credit card that has a big frequent flyer mile bonus.
    2. If necessary, spend the minimum amount to get the bonus. Many cards have no spending requirement.
    3. Redeem your miles and fly anywhere.

    Does this Hurt Your Credit Score?

    Applying for new credit cards actually helps your score in one way and hurts it in another. Let me explain…

    When you apply for a new credit card there is an inquiry on your account. New credit inquiries usually drop your score by a few points, but new inquiries only make up 10% of your overall credit score so the drop is small.

    On the flip side, when you get a new credit card this also increases your overall credit limit and this will probably help your credit utilization ratio.

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    For example, let’s say that before your new card you were spending $2,000 and your total credit limit was $10,000. In this case, your credit utilization ratio was 20% ($2,000/$10,000). Then you get a new card and let’s say your credit limit raises to $15,000. Remember, your spending habits should be about the same because you’re only spending the minimum needed to get your frequent flyer miles. So now your credit utilization ratio is only 13% ($2,000/$15,000).

    This is a good thing. A lower credit utilization ratio helps your credit score. For this reason, many credit card churners actually see their score increase over time. Many churners have 10 or more credit cards and still hold excellent credit scores in the 780 to 800 range.

    How to Know if This Will Work for You

    As a rule of thumb, your credit score should be 700 or above if you’re thinking about following this credit card travel rewards strategy.

    And if you’re planning on applying for a bunch of cards to get tons of frequent flyer miles, then you should probably have a credit score above 720.

    No matter what your score is, this strategy will only work if you pay your balance in full each month and carry no debt on your new cards. It doesn’t matter how good your history is, if you get a new credit card and start piling on debt, then your credit score will suffer and this travel strategy is useless.

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    If you have the discipline to pay your balance in full each month, then you’re ready to hit the skies.

    (Photo credit: Passenger Windows on Plane via Shutterstock)

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    James Clear

    James Clear is the author of Atomic Habits. He shares self-improvement tips based on proven scientific research.

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    Last Updated on July 20, 2021

    Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

    Financial Freedom is Not a Fantasy: 9 Secrets to Get You There
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    Have you ever considered your life now, and how it would be if you had more time to spend with your family and less worries about money?

    Nowadays, financial stress is one of the most troublesome weights in life. If you’ve ever encountered financial stress, you know the difficulty of not having enough income to pay your obligations or bills.

    Many people say that money is not the ultimate goal of life. While that’s true, money certainly plays a very significant role. The meaning of financial freedom changes with the different phases of our life, but ultimately, it is something that many people strive for.

    In this article, we’ll explain how to capture that financial freedom you’ve been looking for. Read on to learn the secrets to financial freedom.

    Break Free of Your Finances

    Financial freedom is about having a constant flow of cash from your assets to cover all your regular needs.

    When you are not worried about your income, or living paycheck to paycheck, you gain a great sense of freedom. It’s the freedom to be obtain and do what you truly need to make your way through everyday life.

    Gaining financial freedom, though, is a process of growth, making small improvements and gaining emotional strength.

    Though it seems hard to believe, it is really very simple to get financial freedom.

    To do so, you simply need to make sure that your assets exceed your liabilities. In other words, you’ll need to find the sweet-spot where your residuals meet or surpass your expenses. This is something that you can achieve with the proper plan.

    While not every person will accomplish financial freedom, the potential for anyone to do so is certainly there. Anyone can achieve this success, regardless of their income level.

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    Outlined below are 9 secrets that will help you in your goals of achieving financial freedom.

    1. Stop Unnecessary Spending

    We often spend money inwardly, instead of objectively.

    For example, you may spend when you’re anxious, depressed, restless, exhausted, from fear of missing out, or to please others. This is a very unhealthy way to handle your finances.

    To stop this habitual spending, log down all your spending over the course of a month.

    Just as some people keep a food diary, keep an expense diary. Remember not to just write down how much and what you spent the money on, also include the circumstances of why you spent the money. Was it an impulse buy at the checkout line or was it something you planned to purchase?

    This increased self-awareness could enable you to avoid triggering situations in the future when you are considering an impulse buy.

    2. Plan a Monthly Budget

    This is a great opportunity to get serious.

    Take a seat with your spouse or partner and make a monthly budget based on your income, not your expenses. You are never again going to spend more cash then you have on hand.

    Overspending is the thing that led you to more financial obligations. Make sure you decide every month what is coming in and what will be going out and stick to that budget… no matter what.

    3. Cut-up Credit Cards

    Perhaps you are the type of person who always pays your credit card balance in full before the end of your billing cycle, and enjoys the reward points you gain. If this is the case, then you’re already way ahead of the game.

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    If not, you may want to consider ridding your life of the burden that credit cards bring.

    Many cards have strategies set up so that if you make a certain number of late payments, they will raise your interest rate much higher. This can really add up in the long run and you won’t be doing your financial situation any favors. If you’re prone to late payments or have a large balance due on your cards, cut them up!

    Without proper self control on credit card spending and payments, you are basically throwing your money away. To ensure that you have better control over your spending, use only cash or debit for all future purchases (and don’t forget to pay at least your minimum payment on your cut-up cards each month!).

    4. Increase Savings

    There is no doubt that for a comfortable retirement you must accumulate satisfactory savings throughout your working life.

    It’s good practice to save up to 15% of your income.

    Start with your workplace 401(k), if you have one. If not, a Roth IRA (if you are eligible) or a traditional IRA (if you are not eligible for the Roth) are the next logical steps.

    Increase in longevity means you might be able to look forward to 25 to 30 years in retirement, or possibly even significantly more. Investing now in good retirement plans will ensure that you have a guaranteed a stable monthly income when the time comes to stop working. [1]

    5. Invest Wisely

    Consider investing in funds.

    Specifically, you will gain higher returns if you invest in different types of mutual funds such as Debt funds, Equity funds and Hybrid funds with a proper balance, although it absolutely relies on your personal preferences and sense of risk taking.

    To get the most of these benefits, make sure you are investing in a variety of assets. Another resource of investing in mutual funds is SIP (Systematic Investment Plan) where you invest some money every month in funds. SIP works by averaging the per unit price of the stock.

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    Mutual fund investors are aware of the benefits of an SIP (Systematic Investment Plan). For one, it is the most secure way to invest in equity mutual plans so that wealth is created over a long period of time. This plan also helps you to gain a better sense of financial discipline, which will come in handy in all your financial endeavors.

    6. Invest in Gold

    There isn’t really a better way to invest in gold than to have the physical gold itself in your possession.

    You can purchase gold coins and bars from mints as well as from coin dealers and other private sellers.

    Another way to invest in gold is through ETFs (Exchange Traded Funds).

    These are is similar to mutual funds but they are exclusively investments of gold. ETFs are great because they offer more liquidity; the ETF owns the actual physical gold, stores it, and retains the value of the shares. These shares can then be bought and sold in the stock market, and one big benefit is that the transaction costs of gold ETFs are much lower than the that of physical gold.

    With its consistently-increasing demand, investment in gold can be very wise long-term investment to make.

    7. Stash Emergency Funds

    Whether it’s a cash gift or a work bonus, always try to save any extra money that comes your way rather than making unneeded purchases.

    If you get paid every other week, you’ll get an “extra” paycheck (three rather than the usual two) twice a year. Either save those paychecks towards your emergency funds or utilize the money to pay down other obligations, such as loans, credit cards or other debts.

    Make it hard to get your cash.

    Put your savings in an alternate bank, maybe an online bank that forces you to delay for several business days before transferred money hits your regular bank account.

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    8. Find Fabulous Mentors

    Find a mentor, such as a friend or family member, who has exceptional control over their finances and pay attention to everything they do.

    If you do not have any friends or family that are enjoying financial freedom, then find a mentor online! There are numerous blogs and guru websites featuring the advice of many people who have reached financial freedom, and they exist primarily to let you in on how to achieve it for yourself.

    There are also plentiful forums available that share tips and tricks on how to best achieve financial freedom. Read as much as you can and start changing your habits for the better.

    9. Be Extra Patient

    Patience is the key of financial success.

    Being patient can be quite tough, especially when you’re struggling with your finances, but having faith is worth it. You’ll continuously be on the right track if you are taking the proper steps above.

    So don’t be discouraged, even if you are only saving a few dollars a month; it all adds up. Within just a few years you’ll look back proudly at your accomplishments and be glad that you had the patience to get there.

    Financial Freedom for All

    Anyone can achieve financial freedom, regardless of their financial circumstance.

    Use the tips provided above to get yourself on the track to financial freedom and toss your monetary concerns out the window. If you wish to achieve a life with financial freedom for yourself and your family then you must adopt a disciplined approach towards your finances.

    Following the simple secrets above is a great start to making your money work for you, so you can work less and live more!

    Featured photo credit: rawpixel via unsplash.com

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    Reference

    [1] Hartford Gold Group: IRA Retirement Accounts

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