How to earn a million credit card points every year and take multiple family trips? The main strategy is not to spend more money. It’s opening the right cards at the right time, earning welcome bonuses, using referrals, taking advantage of business cards, and redeeming flexible points well. We only do this because we have good credit, stay organized, and pay every card off in full every month.
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We wait for elevated credit card welcome bonuses
The biggest chunk of credit card points usually comes from welcome bonuses, not everyday spending. We try to open cards when the sign-up offer is higher than usual.
For example, cards we look at include:
Chase Sapphire Reserve®
This is one of Chase’s premium travel cards. As of the current offer, it offers a 150,000-point Chase Ultimate Rewards for new cardmembers after meeting the spending requirement, with a $795 annual fee.
Chase Ink Business Preferred®
This has been one of our favorite business-card options because it has a 100,000-point bonus after meeting the spending requirement, with a $95 annual fee. It also has useful bonus categories like travel, shipping, online advertising, internet, cable, and phone services.
The key is that we don’t open a card randomly. We usually want a strong bonus, a clear plan to hit the minimum spend naturally, and a plan for how we will use the points.
We use partner referrals
We use what people in the points world call a P1/P2 strategy.
P1 = Player 1
P2 = Player 2, usually your spouse or partner
One person opens a card first. Then that person refers the partner. The first person earns a referral bonus, and the second person earns the welcome bonus after being approved and meeting the spending requirement.
For example, Chase currently says Sapphire referrals can earn 15,000 bonus points per approved friend, up to 100,000 points per year.
That means one card can create two opportunities: the referral points for one person and the welcome bonus for the other. Referral bonuses depend on the current offer and approval. The referred person can still be eligible for the current new-cardmember offer after completing the required activities.
We open business credit cards when we’re eligible
A lot of people think you need a huge company to open a business credit card, but that’s not always true. A sole proprietor, freelancer, contractor, side hustler, or someone selling items online may be eligible, depending on the situation.
Examples could include:
Selling on Facebook Marketplace, eBay, Poshmark, Etsy, or Mercari
Freelance work
Consulting
Content creation
Tutoring
Photography
Reselling
Gig work
Small online businesses
Sole proprietors may be able to apply for business cards and may use a Social Security number instead of an EIN, depending on the card and situation.
The important part: be honest. Don’t make up a fake business or inflated revenue. But if you truly have business activity, even small business activity, business cards can be a huge part of a points strategy.
We pay attention to Chase 5/24
5/24 is one of the most important rules in the credit-card points world.
It means that if you have opened 5 or more personal credit cards in the last 24 months, across most banks, Chase will often deny you for many Chase cards. This is an unofficial rule, meaning Chase does not publicly publish it as a formal application rule, but it is widely documented by points and miles sources.
So, before opening random cards, we think about Chase first.
Why? Because Chase cards like the Sapphire cards and Ink cards can be extremely valuable, especially because Chase points transfer to partners like World of Hyatt.
Also, many business cards do not show up as new personal credit-card accounts, so they often do not add to your 5/24 count. But Chase business cards usually still require you to be under 5/24 to get approved.
So the basic rule is:
Don’t burn 5/24 slots without a plan.
We love Chase Ink cards for big bonuses and low annual fees
The Chase Ink cards have been some of the best cards for earning lots of points.
The main ones are:
Chase Ink Business Preferred®
Good for earning a large Ultimate Rewards bonus and unlocking transfer partners. It has a $95 annual fee and allows points to transfer to Chase travel partners.
Chase Ink Business Cash®
Good for 5% back in categories like office supply stores and internet/cable/phone, with a $0 annual fee. The cash back is tracked as Ultimate Rewards points.
Chase Ink Business Unlimited®
Good for simple 1.5% back on business purchases, also with a $0 annual fee.
One important detail: cards like the Ink Cash and Ink Unlimited earn points, but to transfer those points to airlines or hotels, we usually need to combine them with a transfer-enabled Chase card, like the Chase Sapphire Preferred®, Chase Sapphire Reserve®, or Chase Ink Business Preferred®. Chase allows points to be combined between your own eligible Chase cards and, in some cases, with one household member at the same address.
Premium cards only make sense when we actually use the credits
Premium cards can have high annual fees, so we only keep them when the benefits actually match our lifestyle.
For example, the Chase Sapphire Reserve® has a high annual fee, but the credits can offset a lot of it if you use them.
Some Chase Sapphire Reserve credits we pay attention to:
$300 annual travel credit
This is one of the easiest credits to use because it applies to eligible travel purchases.
Up to $500 The Edit credit
The Edit is Chase’s luxury hotel collection. Sapphire Reserve cardmembers can get up to $500 annually for prepaid stays with The Edit, split as up to $250 per qualifying booking, with a two-night minimum.
Up to $300 annual dining credit
This is the one people confuse a lot. It is not just one $150 credit. Chase lists it as up to $150 from January through June and up to $150 from July through December, for up to $300 per year, at select eligible restaurants through the Sapphire Reserve Exclusive Tables/OpenTable benefit.
Airport lounge access
The Sapphire Reserve includes access to Chase Sapphire Lounges and Priority Pass lounges.
Global Entry, TSA PreCheck, or NEXUS credit
Chase lists a credit of up to $120 for one of these trusted traveler programs.
But again, a premium card only makes sense if the credits are things you would actually use. A credit is not “free money” if it makes you spend money you would not have spent otherwise.
For American Express, the big one for luxury hotel stays is the American Express Platinum Card® and Fine Hotels + Resorts, often called FHR.
The Amex Platinum currently has an $895 annual fee, so it only makes sense if you use the benefits.
Some Amex Platinum credits/benefits we look at:
Up to $600 Hotel Credit
Amex lists up to $300 back semiannually on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel. The Hotel Collection requires a two-night minimum.
Fine Hotels + Resorts benefits
FHR bookings can include benefits like daily breakfast for two, guaranteed 4 p.m. checkout, room upgrade when available, noon check-in when available, Wi-Fi, and a property credit, often around $100.
Up to $400 Resy Credit
Amex lists this as up to $100 per quarter at U.S. Resy restaurants, with enrollment required.
Uber / Uber One credits
Amex lists Uber-related credits, including Uber Cash and Uber One statement credits, depending on the benefit terms.
Digital entertainment credit
Amex lists eligible services like Disney+, ESPN, Hulu, The New York Times, Peacock, The Wall Street Journal, YouTube Premium, and others under its digital entertainment credit terms.
Airline fee credit
Amex lists up to a $200 airline fee credit for incidental fees with a selected qualifying airline.
This is why we do the math before keeping premium cards. We ask: are we actually using the hotel credit, dining credit, airline credit, Uber credit, lounge access, and other benefits? If not, the annual fee may not be worth it.
We focus on flexible credit card points
Flexible points are usually the best because they can be transferred to multiple airline and hotel partners.
The two main flexible currencies we use are:
Chase Ultimate Rewards®
Good for Hyatt, United, Southwest, Air Canada Aeroplan, Air France-KLM Flying Blue, Virgin Atlantic, British Airways Avios, Singapore Airlines KrisFlyer, JetBlue, Marriott, IHG, and others. Chase says eligible cards can transfer points to travel partners, usually in 1,000-point increments, and transfers are final.
One of the best uses of Chase points is transferring Chase Ultimate Rewards to World of Hyatt. Chase lists World of Hyatt as a 1:1 transfer partner, and Hyatt award nights can start at just 3,000 points. That’s why Chase points can be so powerful. Sometimes, a hotel that costs hundreds of dollars per night can be booked with a reasonable number of Hyatt points.
American Express Membership Rewards®
Good for airline partners like Delta SkyMiles, Air Canada Aeroplan, Air France-KLM Flying Blue, British Airways Avios, Virgin Atlantic, ANA, Avianca LifeMiles, Emirates, Singapore Airlines KrisFlyer, Qantas, Qatar Avios, and others. Amex also transfers to hotel partners including Hilton Honors, Marriott Bonvoy, and Choice Privileges.
Amex Membership Rewards are also valuable, especially for airline transfers; they can be great for international flights, business class, and partner-award bookings. For hotels, Amex transfers to Hilton Honors at a 1-2 ratio, and Hilton can be useful for resort stays, family trips, and places where Hyatt does not have many properties.
Capital One Miles®
Capital One Miles are another flexible travel currency, especially from cards like the Capital One Venture Rewards, Venture X Rewards, Venture X Business, and Venture Business cards. They are good for airline partners like Air Canada Aeroplan, Air France-KLM Flying Blue, Avianca LifeMiles, British Airways Club / Avios, Cathay Pacific Asia Miles, Etihad Guest, Finnair Plus, Qantas Frequent Flyer, Qatar Airways Privilege Club, Singapore Airlines KrisFlyer, TAP Miles&Go, Turkish Airlines Miles&Smiles, Virgin Red, Aeromexico Rewards, Emirates Skywards, EVA Air, Japan Airlines Mileage Bank, and JetBlue TrueBlue. Capital One also transfers to hotel partners including Choice Privileges, Wyndham Rewards, I Prefer Hotel Rewards, and Accor Live Limitless.
We usually avoid earning only one airline’s miles unless we have a specific redemption in mind. Flexible points give us more options.
The best transfer depends on the trip. We do not transfer points just because we can. We try to find award availability first, then transfer, because transfers are final.
We protect our credit score
Having multiple credit cards does not automatically ruin your credit score. The bigger factors are paying on time, keeping balances low, managing new applications, and not carrying debt.
FICO says payment history and amounts owed are the two largest credit-score factors, making up 35% and 30% of a FICO score. New credit is a smaller factor, but applying for lots of accounts quickly can still hurt, especially short term.
Our rules are:
Pay every card in full
Never pay interest
Keep utilization low
Track every annual fee
Track every statement credit
Track every minimum spend deadline
Track 5/24 status
Do not open cards just because of hype
Have a redemption plan before earning the points
The points game is only worth it if you are financially disciplined. If you carry a balance, the interest will usually wipe out the value of the points.
Bottom line
First, we prioritize Chase because of 5/24 and Hyatt transfers.
Then we use referrals between partners when possible.
Then we add business cards when we are eligible.
Then we use premium cards only when the credits actually offset the annual fee.
Then we transfer points to hotels and airlines for high-value redemptions.
The goal is not to have the most cards. The goal is to earn the right points and use them well.
Our favorite types of points: Chase Ultimate Rewards and Amex Membership Rewards.
Our favorite Chase transfer: Chase to Hyatt.
Our favorite Amex uses: Amex to airlines, Amex to Hilton, and Amex Fine Hotels + Resorts credits.
Our biggest rule: never carry a balance.
