Don’t make these 6 end-of-year points and miles mistakes

The end of the year is quickly approaching. Now is the perfect time to ensure you’ve completed your annual points and miles tasks before it’s too late.

With many loyalty programs and credit card benefits, the end of the year is an important time to maximize every opportunity before the next year hits. Here are six essential things to do this month to avoid an (unfortunate) surprise come January.

Check airline elite qualifying metrics

Status qualification miles and dollars often reset Jan. 1, though American Airlines Loyalty Points reset March 1. If you are only a few miles (or dollars) shy, you might consider taking a flight before the end of the year.

If you can’t fit another flight into your schedule, you might also be able to buy your way into the next level of elite status. Or you might find it useful to add a new credit card to your wallet, as some credit cards can help you earn airline elite status.

If you decide to make a last-minute push for airline elite status, ensure the money (and time spent) will benefit you next year. Here are some guides to help you strategize:

Related: How to get airline elite status

Check hotel elite qualifying progress

You typically have to re-earn your hotel status annually to reap the benefits. So, if you are just a few nights shy of earning that next level of status, it might be worth finding a hotel for a staycation or even going on a mattress run. With school break right around the corner, this could be an excellent opportunity to do something fun over the holidays.

If you need more nights but don’t want to burn through cash, remember that award stays count toward status in many programs.

Many programs also allow you to work toward status with hotel credit cards. For example, the World of Hyatt Credit Card gives you five qualifying night credits toward your next tier status every year. It also offers two additional qualifying night credits toward your next tier status every time you spend $5,000 on your card.

Some hotel credit cards provide high tiers of elite status just for being a cardholder. For example, the Marriott Bonvoy Brilliant® American Express® Card gives you complimentary Platinum Elite status simply for being a cardmember. Also, the Hilton Honors American Express Aspire Card gives you top-tier Hilton Diamond status as a cardmember perk. Terms apply.

The information for the Hilton Aspire Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

If you need some tips for leveling up your hotel elite status, check out these stories:

Related: Last-minute tips for locking in hotel elite status

Use your annual airline, credit card and travel credits

Many credit cards offer sweet benefits to help offset the annual cost of the card. If you have any premium travel credit cards, ensure you’ve redeemed all available credits — and if not, make a plan to do so before they expire.

For example, each month, cardmembers of the American Express® Gold Card get up to $10 in Uber Cash and up to $10 in dining statement credits. Also, cardmembers of The Platinum Card® from American Express may need to use the following credits before the end of the year (enrollment is required for some benefits):

Many other cards also offer statement credits that you may need to use by the end of the year. It’s a good idea to check in on your credits and make a plan to use them before they expire.

Related: Don’t let credits go to waste: Your 2023 end-of-year credit card checklist

Meet annual spending thresholds for bonuses

Many credit cards offer annual perks based on spending a certain amount during a set period. If you are close to meeting the spending requirements on a card with a calendar-based threshold, you might consider using that card more this month.

Some credit card spending bonuses based on a calendar year include:

• Aer Lingus Visa Signature® Card: Spend $30,000 in a calendar year on your card and earn an economy companion ticket good for 12 months.
• Hilton Honors American Express Aspire Card: Earn a second Hilton free night award when you spend $30,000 and a third night when you spend $60,000 on the card in a calendar year. This is in addition to the free night award given automatically each year after you renew your card.
• Hilton Honors American Express Surpass® Card: Earn a night reward after spending $15,000 on your card in a calendar year.
• The Hilton Honors American Express Business Card: Earn a free night reward after spending $15,000 on your card in a calendar year. Plus, earn a second free night reward after spending $60,000 on your card in a calendar year.
• Iberia Visa Signature® Card: Spend $30,000 in a calendar year and receive a $1,000 discount voucher toward two tickets on the same flight.
• Marriott Bonvoy Business® American Express® Card: Earn a free night award valued at up to 35,000 points after spending $60,000 in purchases on your card during a calendar year. This is in addition to the free night award given automatically each year after you renew your card.
• World of Hyatt Credit Card: Spend $15,000 on your card in a calendar year and receive a free night at a Category 1-4 hotel. This night is in addition to the free Category 1-4 night you receive after each card anniversary.

Related: Free elite status, bonus points and more: Credit cards offering rewards for annual spending

Secure your Southwest Companion Pass

One of our favorite benefits in the travel world is the Southwest Companion Pass. This pass allows another traveler to fly with you for (almost) free for the life of the pass.

To earn this pass, you need to earn 135,000 qualifying points in a calendar year or fly 100 segments on Southwest.

The Companion Pass expires Dec. 31 of the year following the one in which you earned it. If you earn the Companion Pass in 2023, it will expire Dec. 31, 2024. However, if you earn the Companion Pass in January 2024, it won’t expire until Dec. 31, 2025.

Unfortunately, Companion Pass qualifying points do not carry over from year to year. If you are close to having 135,000 qualifying points this year, you’ll want to ensure all points hit your account ASAP.

If you earn your final few points from one of the many Southwest credit cards, only purchases through your December statement closing date will count. Points posted within a few days of your closing date count toward the year when the points are posted — not necessarily the year you made the purchase.

For those holding off and looking to earn the Companion Pass in 2024 so it lasts to the end of 2025, make sure not to meet your minimum spending requirements on any new Southwest credit cards until January. Theoretically, you can start hitting the minimum spending after your December statement closing date. Still, we’d recommend waiting until the new year begins to avoid something going wrong with your timing.

Related: 15 lessons from 15 years of having the Southwest Companion Pass

Earn your British Airways Travel Together Ticket

Although significantly different from the Southwest Airlines Companion Pass, British Airways also offers the opportunity to earn a companion pass called the Travel Together Ticket.

To earn a Travel Together Ticket, you must spend $30,000 on your British Airways Visa Signature® Card within a calendar year. Doing so will earn a one-time pass to bring a companion on a British Airways award ticket or a 50% discount on the Avios redemption cost when traveling solo.

You are still on the hook for taxes and fees, but this could be a great way to save Avios on a flight to Europe, especially in business class. The Travel Together Ticket will be issued at the end of the billing cycle when you reach $30,000 in purchases and is valid for a reward flight on British Airways taken within two years of the issue date.

Related: How to book award flights using British Airways Avios

Bottom line

With the end of the year quickly approaching, now is the time to ensure you maximize every credit card benefit and earn your desired elite status. It is also the perfect time to confirm that all hotel stays and flights you completed were credited property.

Finally, remember that even though 2023 is not over, it isn’t too early to plan your 2024 strategy. For inspiration on your 2024 elite status strategy, staffer Clint Henderson weighs in on what statuses he’s downgrading and which ones he’s requalifying for.