Embarking on the journey of accumulating points and miles becomes significantly more rewarding when you have a partner by your side. Collaborating with a “Player Two” not only accelerates your rewards but also opens up a plethora of strategies to maximize benefits. Here are four effective methods to harness the power of partnership in the points and miles game.
1. Double Up on Sign-Up Bonuses
When credit card issuers roll out enticing offers with substantial sign-up bonuses, it’s an excellent opportunity for both you and your partner to apply separately. By doing so, you can effectively double the bonus rewards. Many programs allow you to combine these rewards into a single account, amplifying your earning potential.
Tip: If, after a year, you find that maintaining two identical cards isn’t necessary, explore options to downgrade one of them to a no-fee version. This strategy helps in retaining the account’s history without incurring additional fees.
2. Leverage Referral Programs
An even more advantageous approach is to have one partner acquire the card first and then refer the other. This method enables you to secure two sign-up bonuses (SUBs) along with a referral bonus, providing a triple benefit from a single card offer.
Example: Many credit card issuers offer referral programs where the referrer earns bonus points or cash back when someone they refer gets approved for the card. By strategically planning referrals between partners, you can maximize these additional rewards.
The Points Mom’s Got IT!
3. Strategize Authorized User Additions
While it might seem beneficial to add your partner as an authorized user immediately, it’s essential to consider the long-term implications, especially if both of you aim to acquire the same cards. Some banks count authorized user accounts towards the individual’s account limit, which could hinder future applications.
Recommendation:Â Delay adding your partner as an authorized user until after they’ve secured their own card. This approach ensures that their credit profile remains optimal for future applications. If you want them to earn points with your card, consider putting your card in their Apple wallet!
4. Coordinate Card Usage
Ensuring that your partner is well-informed about which card to use for specific purchases is crucial in maximizing category bonuses and rewards. Misusing cards can lead to missed opportunities for earning higher points or cash back.
Practical Tip: Implement a system to help your partner remember which card to use when. For instance, placing labeled stickers on each card indicating its primary usage categories can serve as a helpful reminder. A bit of humor and patience goes a long way, as even with reminders, occasional mix-ups can happen.
Conclusion
Navigating the points and miles landscape as a duo offers a strategic advantage that can significantly enhance your rewards. By doubling up on sign-up bonuses, leveraging referral programs, thoughtfully managing authorized user additions, and coordinating card usage, you and your partner can make the most of your collaborative efforts. Remember, clear communication and strategic planning are the cornerstones of maximizing benefits in the points and miles game.
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