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Maximize Your Travel Rewards with O1ne Mortgage

At O1ne Mortgage, we understand the importance of making the most out of your travel rewards. Whether you’re a frequent flyer or an occasional traveler, knowing how to maximize your travel rewards can lead to significant savings and enhanced travel experiences. In this article, we’ll explore how travel rewards credit cards work, what counts as a travel purchase, and how you can earn more points or miles. For any mortgage service needs, feel free to call us at 213-732-3074.

Understanding Merchant Category Codes (MCC)

When a business wants to accept credit cards, it must first set up a payment system with a credit card payment network. The business is then assigned a merchant category code (MCC) based on the products or services it offers. Credit card issuers use these MCCs to determine which purchases are eligible for bonus points or miles. For example, some cards offer three or five times the miles for travel purchases.

It’s important to note that each card issuer has its own set of MCCs that qualify as travel. This means a purchase could be considered a travel expense by one issuer but not by another. Understanding these codes can help you maximize your travel rewards.

What Generally Counts as a Travel Purchase

Most travel rewards credit cards offer elevated rewards for the following types of travel purchases:

• Airline reservations
• Hotel reservations
• Passenger train tickets
• Bus tickets
• Car rentals from approved companies
• Limousine services
• Cruise line reservations

However, it’s important to check the fine print of your credit card agreement, as some issuers may have more limited definitions of what qualifies as a travel purchase. For example, while most cards accept campground and timeshare fees, not all do.

What Generally Does Not Count as a Travel Purchase

Some travel-related expenses typically do not qualify for travel rewards, including:

• Gasoline
• In-flight purchases
• Duty-free purchases at the airport
• Shore excursions and sightseeing tours during a cruise or train trip
• Casino purchases
• Truck, RV, and boat rentals
• Travel insurance

It’s also worth noting that purchases made through third parties or using points through your credit card portal may not count as travel. Always check with your card issuer to be sure.

How to Maximize Travel Rewards

Maximizing your travel rewards involves careful planning and strategic use of your credit cards. Here are some tips to help you get the most out of your travel rewards:

• Choose the Right Card: If you prefer a specific airline or hotel chain, consider their co-branded credit cards. These cards often offer higher rewards for purchases made with the brand but may lock you into using that brand.
• Look for Flexible Rewards: Some cards offer more flexible rewards that can be used with various airlines and hotels. Choose a card that aligns with your travel habits and preferences.
• Take Advantage of Introductory Bonuses: Many travel rewards cards offer significant introductory bonuses. Compare these offers to find the best deal for you.
• Use the Rewards Portal: Making reservations through your credit card’s rewards portal can often get you more value for your points or miles.
• Sign Up for Loyalty Programs: Enroll in airline miles or hotel loyalty programs. These programs are usually free and can provide additional benefits and rewards.
• Pay Off Your Balance: Always pay off your credit card balance in full to avoid interest charges, which can negate the value of your rewards.

The Bottom Line

Matching a travel rewards card to your travel habits can result in significant savings and enhanced travel experiences. However, understanding the fine print and knowing what qualifies as a travel purchase is crucial. By using the right card for the right category, you can accumulate points or miles more quickly and make the most out of your travel rewards.

If you’re looking for the right travel rewards card or need any mortgage services, O1ne Mortgage is here to help. Call us at 213-732-3074 to speak with one of our experts today.

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