Maximize your earning this year

When it comes to points and miles, it pays to have an abundance mindset. No matter where your points balances are at the beginning of 2024, you can earn thousands — and even hundreds of thousands — of points this year.

Sound too good to be true? Don’t worry. We’re here to help you make a plan to get the points and miles you need to book your next dream vacation, no matter what it is.

Here are our top tips for racking up some major miles this year.

Earning points and miles

Welcome bonuses

The easiest way to get a good stash of points or miles is by earning a welcome bonus on a new card. Often, you can earn more than 100,000 points from one welcome bonus alone.

Right now, for instance, with the Hilton Honors American Express Surpass® Card, you can earn 170,000 Hilton Honors points after spending $3,000 in purchases in the first six months of card membership. This offer ends Jan. 17.

Or, if you want to start with a stash of airline miles, you could get the United Club Infinite Card and take advantage of its welcome offer of 90,000 miles after spending $5,000 in the first three months from account opening. Either offer is a great way to get a significant points boost by spring.

And, of course, you aren’t limited to just one welcome bonus over the course of a year. If you open two or three new cards and meet their welcome bonuses, you’ll have a solid stash of rewards to use.

For some ideas, check out our list of this month’s best welcome offers.

Spending

Beyond earning welcome bonuses, strategically using your credit cards can earn you thousands of points throughout the year. We recommend using a rewards credit card for as many purchases as possible so you’re earning whenever you spend.

Most credit cards earn at least 1 point per dollar on all purchases. This means that if you put $25,000 on credit cards this year, you should get at least 25,000 points.

Also, if you have a few cards in your strategy that allow you to maximize your spending, you’ll earn much more. For example, if you put your grocery and dining spending on the American Express® Gold Card, you’ll earn 4 points per dollar on those purchases (on up to $25,000 in purchases per year at U.S. supermarkets).

If you put your travel spending on the Chase Sapphire Reserve, you can earn 3 points per dollar. Also, if you put your non-bonus purchases on a card with a strong, consistent earning rate, like the Capital One Venture X Rewards Credit Card, you can earn more than one mile per dollar on these other purchases as well.

If you split your $25,000 in spending between these three cards, you could earn between 50,000 and 100,000 points over the course of the year.

Obviously, the precise number of points you’ll earn on purchases throughout the year will vary widely based on your spending habits, but creating a strategy that maximizes your spending can earn you a staggering amount of rewards this year.

Related: How to choose your best credit card strategy for 2024

Shopping portals

Shopping portals are less glamorous than big, shiny welcome bonuses, but using them is an easy way to increase your rewards earnings this year. By purchasing through a shopping portal when you shop online, you’ll earn extra rewards on top of what you earn by paying with a credit card.

One of our favorite portals, Rakuten, allows you to earn your rewards in the form of cash-back or American Express Membership Rewards points. Often, you’ll earn an additional 2% back (or 2 points per dollar) on your purchase, but you’ll find larger earning rates for different stores that change daily. During Black Friday, I was able to earn a whopping 15 Membership Rewards points per dollar on my purchases at some stores — on top of the rewards I earned on my credit card.

If you spend $5,000 online through shopping portals this year, you’ll likely earn an additional 5,000 to 75,000 points by the time we ring in 2025.

Related: How to maximize shopping portals

Set your goal

Identify the types of rewards you want

Of course, it helps to have a plan before you set out to earn hundreds of thousands of points this year. Keep in mind that rewards currencies have different values, so the type of rewards you earn matters as much as the number of points in your balance. For example, 170,000 Hilton Honors points are worth $1,020 according to our valuations, while just 60,000 Chase Ultimate Rewards points are worth $1,230.

Take a moment to consider your rewards goals for the year. If there’s a specific trip you want to go on, choose the type of rewards you want to earn to make that trip a reality and use that goal to drive your plan. If, however, you just want to have some rewards stashed away for when a trip strikes your fancy, focus on earning transferable rewards for maximum flexibility.

Make a credit card strategy tailored to your goal

Once you’ve settled on your goal, it’s time to make a plan. Look at your current credit card portfolio and identify any holes you can fill with your next credit card. For instance, if you already have a hotel cobranded credit card, you might want to go for a card that earns transferable rewards next. Or, if you have a card with a solid flat earning rate for your general purchases, you might want to get a card that earns bonus points in one of your highest spending categories.

Focus on one card you want to get next and jot down some ideas of what you might want to add later in the year. If you’re adding a transferable rewards card first, you’ll likely want to watch for a good welcome offer on a cobranded airline or hotel card later in the year. (Don’t worry— we’ll keep you posted.)

Treat yourself

Of course, earning credit card rewards is only fun if you can turn them into something you want.

Whether your next trip is to the Maldives or Walt Disney World, you can use your rewards to make your travel dream a reality.

Bottom line

With the right strategy in place, you can easily earn hundreds of thousands of points in 2024. Set your goal for the year, and then get to work earning welcome bonuses and maximizing your spending to earn the rewards you want. If you play your cards right, 2024 can be your most rewarding year yet.

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